With Pat Regnier, Assistant Managing Editor at Money Magazine, Prolific Writer on Personal Finance issues
Podcast: |
This will happen to all of us. At some point in time, we’ll grow old and our kids will become young adults. Retirement is often also when seniors have a lot of accumulated wealth. But, chances are, the younger generation will be more in touch with the world than the older generation, and may want to guide their parents on money management issues or on protecting them from online scams they may not be aware of. But to parents, children will always be children, and old habits and egos can sometimes be hard to overcome.
So Pat lays out several approaches on how grown-up children can approach money conversations with their parents – directly and indirectly through trusted channels such as family doctors, financial planners or familiar estate planning attorneys. He offers sound advice on how you can guide your parents while protecting their assets and also strengthening your relationship with them. It’s a good lesson for all of us.
