Every year at Thanksgiving, it’s tradition in our home to take a few minutes and go around the table so everyone can share what they’re thankful for. We know that this year – probably more than last year – you’ll be getting together with your families for the holiday. For some, it may be the first time seeing them in quite a while.
It seems like certain topics always come up around the dinner table, or while folks are gathered talking. While we could help with relationship issues, or political differences…we choose not to. What we can do is help with that other taboo topic: money.
For parents, we know it can be hard to talk to your adult children about money, whether yours or theirs. We always encourage parents of young children to teach them good money habits earlier rather than later, but as adults, things can get stickier. Habits are formed and it’s easy to slip into judgment.
The solution is simple: Why not let us have those conversations for you? Giving the gift of financial planning to your adult children can be as easy as buying a few hours of our time. We’ll sit down with them and create a plan they can take with them and work on as they have time. Or, you could make a referral and we’ll reach out and set a planning meeting where can answer any questions and concerns they may have. Either way, the burden is off of you, the parents.
Going into Thanksgiving with this in mind will help keep your conversations flowing around food and gratitude, instead of what anyone should have done with their money, or fill-in-the-blank. Trust me – I’m the oldest of four!
What questions do you have about talking to your grown children about money? It can be a tough topic, and we’re always here to help. If you do want to give the gift of financial planning, check out FeeForPlan.com, or give us a call at 859.219.1006. Now, start planning your Thanksgiving menu.
Article by David Smyth, Senior Partner at Family Financial Partners — a financial services firm in Lexington, Kentucky.
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