If adult children and their parents are supporting one another financially, how often are they discussing money worries? It turns out, though boomers are much more likely to report that they regularly discuss money matters with their family than they were in 2007 (50 percent vs. 39 percent), these conversations are only scratching the surface. In fact, four in 10 boomers (41 percent) admit they haven’t adequately discussed their current financial situation with their children and one-quarter (27 percent) say they rarely or never discuss retirement. If your family tends to put financial discussions on the back-burner, approaching them now among challenging economic times may be intimidating.Full Article and Source:
Talk Finances With Your Family
3 comments:
It is important to have clear and consise talks with family. And I also think sibling contracts would stop alot of fights over wills when the parents have passed.
In this Great Age of Greed, when lawyers and judges are financially exploiting and alienating families, it is CRITICAL that the different generations work together to protect themselves from guardianship and conservatorship.
Open communication is important!
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