Helping Aging Parents
It's about the present—and the future
For many families, talking about money is difficult under the best of circumstances. When it comes to your aging parents, it can be even harder. They may not want to admit they need help, or they may be reluctant to see you in the parental role of giving advice. But with love, concern and some thoughtful preparation, you can open the door to this important conversation. Because it's not only about money, it's about your parents' ability to preserve the quality of their lives now and in the future.
Getting off to a good start
Start by being observant—and sensitive. You don't have to be involved in every aspect of your parents' financial lives. Make it clear that you just want to be certain they're OK.
The key is understanding what they need and how you can help. Here are some starting points: