For a lot of us, many of our financial choices are based on the relationships we have with our families. I’m betting most of your finances are intertwined with your family. I’m also betting that you probably haven’t had a formal discussion about it with your family members. How do I know this?
Because many of my clients have not either.
Although my clients are open and specific with me when it comes to their financial plans for their family, I am finding that more and more clients of mine are not having this same frank conversation with their loved ones.
Money can be a sensitive topic. Add in generational differences and emotions, and now these discussions are challenging for anyone to have, especially family – but they are necessary.
How many people in your family are aware of the financial decisions that affect them?
I know that family meetings aren’t for everyone, no matter how you do it, but find a way to start the conversation!
If it has been a while or you’ve been avoiding the conversation, I’m happy to help in any way I can. If you need help answering these questions or setting up your family meeting, please give me a call.
By Eric Riggenbach
