"It's like the facts of life talk with our kids; no one wants to have it, but you have to do it," says Eleanor Blayney, [CFP®,] consumer advocate for the Certified Financial Planner Board of Standards. "People worry that if they sit down with Mom or Dad, it will be awkward or difficult. But it's important to open up about your goals and aspirations, and then ask people in the family what their situation is. You model the conversation by sharing where you are."
Conversely, Blayney says these meetings may go "one generation up," where the needs of aging parents or grandparents get discussed. Read more >
November 21, 2011