Having the Money Talk with Your Parents
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 15 August 2019
⏱️ 25 minutes
🧾️ Download transcript
Summary
As your parents age, you may find that you want or need to broach the often-difficult subject of finances.
In Mom and Dad, We Need to Talk: How to Have Essential Conversations with Your Parents About Their Finances, personal finance journalist Cameron Huddleston lays out the best ways to approach this issue, along with a wealth of financial and legal information that will help you help your parents into and through their golden years.
Sometimes parents are reluctant to address money matters with their adult children, and topics such as long-term care, retirement savings (or lack thereof), and end-of-life planning can be particularly touchy.
In this book, you’ll hear from others in similar positions who have successfully had “the talk” with their parents, and you’ll read about a variety of conversation strategies that can make talking finances more comfortable and more productive.Learn conversation starters and strategies to open the lines of communication about your parents’ financesDiscover the essential financial and legal information you should gather from your parents to be prepared for the futureGain insight from others’ stories of successfully talking money with aging parentsGather the courage, hope, and motivation you need to broach difficult subjects such as care facilities and end-of-life plans
Although talking money with your parents can be hard, you aren’t alone, and this book will guide you through the process of having fruitful financial conversations that lead to meaningful action.
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Transcript
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| 0:00.0 | Hi, it's Jill Schlesinger, and on this episode of Jill on Money, |
| 0:07.0 | how to have those tough conversations with your parents about their money. |
| 0:12.0 | I am not going to jeopardize my own retirement and my own future to support my adult children. |
| 0:18.0 | If I am helping them, they're going to have to jeopardize their finances to support me as I get older and I don't |
| 0:24.8 | want to do that to them. |
| 0:25.6 | I do not want to be a burden to my kids. |
| 0:28.4 | Welcome to the Jill on Money Podcast. |
| 0:30.4 | We are presented by Marcus by Goldman Sachs. |
| 0:33.7 | You know, so much of what we talk about on this podcast has to do with talking to your spouse |
| 0:39.6 | or talking to your kids. |
| 0:41.6 | It's now time to talk to your parents and I know this can be hard and that's why we have a great |
| 0:47.6 | guest. Cameron Huddleston has just written an important book it's called mom and dad we need to talk how to have |
| 0:56.2 | essential conversations with your parents about their finances so here's our |
| 1:01.8 | interview with Cameron Huddleston. |
| 1:04.0 | You're listening to Jill on Money with Jill Schlesinger. |
| 1:08.0 | We're going to get to your book in a second. |
| 1:10.0 | It's called Mom and Dad. We need to talk I love it love the topic it's great I want to start |
| 1:16.6 | with the big question that we ask to begin our podcast and that is what is the best either financial or career decision that you've ever made? |
| 1:27.0 | They're combined actually. |
| 1:28.0 | Oh brilliant. |
| 1:29.0 | Yes, so the best career decision I made was becoming a personal finance journalist because it has |
| 1:35.8 | helped me with my everyday finances. |
... |
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