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You are here: Home / Caregiving / When to Have the Money Talk With Your Parents

When to Have the Money Talk With Your Parents

November 9, 2008 By Mark Hager

Too often, adult children have no idea of the state their parents financial affairs are in and parents aren’t usually prone to disclosing this type of information without some discussion. We’ve covered the difficulties of talking to elderly parents about money before, but it bears mentioning again. Talking openly with your parents before they are in a serious economic situation is important. Far too often the children have no idea there is a problem until they come for a visit and realize there is no food in the fridge and bills are piling up.

To make it easier to discuss this tough topic, you can use current news to break the ice or mention an example of someone you know who can’t afford their prescriptions. However you decide to get the conversation started, start it early. It is the best way to stem off the preventable problems.

AARP magazine ran a really good article about this. If you’d like to read more, just click the link below.

When Your Parents’ Money is Your Problem

Filed Under: Caregiving, Money & Finance for Aging in Place Tagged With: AARP, adult children, Caregiving, money

About Mark Hager

By Mark Hager
LinkedIn | Twitter | Articles
Mark is the Founder of AgeInPlace.com. He also is a consultant and mentor who helps business and organizational leaders serving older adults and their families.

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