When you were a kid, your parents probably talked to you about money, perhaps about the value of a buck or how you might spend your allowance. As time marches on, you may find the situation reversed—and that you have to have the “money talk” with your parents.
Adult children sometimes feel concerned that they’re invading their parents’ privacy when raising money issues. Parents, meanwhile, can feel threatened, or worry about losing their independence. Still, it can be helpful to have a dialogue with your parents about their finances as they get older.
- Show your love.
- Choose your words carefully.
- Talk about yourself.
- Offer to help.
- Ask the right questions.
- Keep an eye out for scams.
- Consider professional guidance.
Learn more at FINRA:
Source: Financial Planning for Women