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Wednesday, April 29, 2015

6 tips for talking to your adult kids about your finances (@lisabert @YahooFinance)

Lisa Bertagnoli gives some great advice on how to talk to your children about your finances, so they can be ready and in the loop in case the worst happens to you:

Full article at Yahoo! Finance

"Financial experts say it's a tough talk, right up there with the birds and bees.
Why? "Most people aren't open about their finances anyway," says Karen Chan, a financial education expert, financial planner and principal at Karen Chan Financial Education and Consulting in Lisle, Illinois.
Too, a "we need to talk about finances" call from parents can scare the pants off children, conjuring visions of illness or impending death, Chan says. By the same token, realizing that the time to talk is nigh can send an uncomfortable chill through parents. "Parents can have a little epiphany that they're not going to be around forever," she says."

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