Ages & Stages - Conversations

Money can be a difficult subject to broach with family or friends. Having a frank discussion about finances now can help minimize misunderstandings and conflicts later. These articles offer suggestions on how to start and continue those conversations.
Couples
Talk With Your Spouse or Partner
Whether you or your spouse/partner handle the finances or you divvy up the responsibilities, be sure each person keeps the other informed. And review the big picture together on a regular basis. That way you’ll know whether you’re moving toward the goals you have agreed on – or if you need to work together to get back on track.
 
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Parents
Have Honest Discussions With Your Parents
At some point in your life you may have to ask your parents what their plans are. Some casual financial conversations may be the best way to help ensure that your parents’ needs will be met and their wishes fulfilled throughout their lives.
 
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Adult Children
Advise Your Adult Children
Young adults live with the realities of a challenging economy and limited job opportunities. And it’s not uncommon for them to rely on some level of financial support from their parents. If you’ve never talked about finances and the importance of planning with your children, the time may be now to have a positive, productive conversation about it.
 
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Friends
Conversations With Friends
You talk with your closest friends about relationships, careers, family matters and everything else that’s important in your lives. But odds are, you never discuss investment planning. Who better than a group of your friends to help each other achieve their financial goals?
 
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Advisor
Know How to Work With an Advisor
If you find the right advisor, the relationship can be very rewarding. You want someone with good credentials, who works with clients like you, gives you the time you deserve, and genuinely cares about your financial and family needs. Here are steps to consider and questions to ask, plus the different ways advisors charge.
 
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Advisor
Talk to a Financial Advisor
Once you’ve selected a financial advisor, you need to provide as much relevant information as possible. Before you meet, it’s important to prepare the right documents and any questions you may have. If you have a spouse or partner, be sure the two of you have discussed your financial goals ahead of time.