- by Cameron Huddleston
- July 19, 2015
- as posted on GO Banking Rates
There are several strategies you can use to get your aging parents to open up about their finances. If one doesn’t work, try another. “Regardless of which approach you take, though, the conversation needs to be respectful,” said Linda Fodrini-Johnson, a family therapist, care manager and founder of Eldercare Services. “And, you should make sure it’s clear you’re not trying to take over your parents’ finances.”
“If you start with an area that doesn’t feel like a loss of power,” she said, “you’ll probably be more successful.”
1. Use a Story
One of the best ways to get your parents talking about money is to tell them a story — true or fabricated — about someone who did or didn’t have information about his elderly parents’ finances and the impact it had…