Senior Finances
Senior Finances: The Emotional Issue of Money and Caregiving
Having a frank discussion about senior finances is important for long-term planning.
Family financial matters are oftentimes a taboo subject, and in addition, the root of many different controversies, heightened emotions, and misunderstandings. And for a number of today’s older adults, who maintain a “Depression era mentality” from many years of saving for a rainy day and learning to “waste not, want not,” it may be hard for them to grant access to finances to adult children, and to acknowledge the necessity to spend some of those personal finances on caregiving needs.
Talking with an aging parent about finances is most efficient when begun before the need arises, appreciating it might take numerous discussions before an understanding can be reached. These conversation starters can certainly help:
“Dad, at some point, we have to make some choices in regards to … Read More »
