Thu, 29 October 2020
If you think talking about money with each other is hard, try talking to your parents.
Today we’re getting into one of the money sensitive situations when it comes to marriage and money – making sure your parents are in a good spot during their golden years.
Taking Care of Parents
Family and finances can be stressful. But typically makes it so difficult is how easily our emotions get involved.
Talking with your parents about money. Is red at the top of the list. It can definitely be awkward, but it’s not something you want to put off.
If anything, this year especially has been a clear reminder that we need to be prepared.
While we can’t anticipate everything. Having these conversations and making sure our money’s in a good spot can make stressful things a little more bearable
Last year, Cameron Huddleson shared a story from her book Mom and Dad: We Need to Talk:
As uncomfortable as it seems to have these conversations, in a way, it”s the loving thing. You’re looking out for your parents.
Let’s be honest, there are a lot of moving parts. There’s the two of you and then your parents and theirs, siblings, so it can sometimes be tricky communicating with everyone.
On top of that, you have to deal with your own finances and schedules and those factors will affect what you’re able to contribute.
So to make things easier, we’re going to break things down into some key steps you can take and some conversation starters to get the ball rolling.
In this episode we’ll get into:
Ready? Let’s get started!
Resources for Parents and Retirement
Here are some fantastic resources to help you two get more comfortable talking about retirement and more with your parents.
Thank You to Our Sponsor Coastal!
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If you want to be better prepared financially, please consider Coastal’s Retirement Planning Program!
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Like the music in this episode? Our theme song is by Gentle Regime. Additional Music from Artists at Audiio.
Direct download: S10E26_Crucial_Conversations_to_Have_With_Your_Aging_Parents_and_How_to_Make_It_Easier_on_Everyone.mp3
Category:personal finance -- posted at: 3:59pm EDT