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Joining a group such as The Penny Hoarder Community pretty much indicates that personal finance is a topic that interests you. But still, it can be really difficult to talk to others in your life about money.

I write about personal finance for a living, but one thing I’m currently struggling with is initiating a money talk with my mom. I’m concerned about whether she has her financial affairs in order and I’m not sure what financial support she might need from me and my siblings as she gets older. For me, it’s hard to confront the emotional aspect behind my mom aging and I don’t want to overstep boundaries because I’m the child, not the parent.

Erin Lowry’s latest book — “Broke Millennial Talks Money” — has an entire chapter dedicated to how to ask your parents if you’ll need to take care of them financially. I’m thinking I might borrow one of the prompts from the book to start the conversation with my mom.

Have you been avoiding having a money talk with someone in your life? What is the biggest thing that’s holding you back?

**Writer at The Penny Hoarder. All opinions expressed are my own and don't necessarily reflect the views of The Penny Hoarder.**

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Good idea. Although my parents and I do, at times, talk about their finances, we haven't had a pointed discussion about what they will need from me. That's quite a thought. I'm still supporting 2 young teen boys, and can't imagine taking on additional financial responsibility! Since my parents are in their mid 70's, we should start thinking about this. Thanks for the idea.

Last edited by KellyFromKeene

I don't know what the book mentioned above would ask, but if your parents are willing, you could just ask them, how they want to be cared for as they age. (Because you love them and want to respect their wishes). Then do your research and present them with the costs involved. If the discussion is open and honest they will be able to see if they have enough in place, or if they have to pare down their wishes, or put more aside as they are able. If they balk at discussing these things, then you have a different issue.

I don't really avoid talking to money about others.

I guess for others, money is a really emotional topic (which isn't healthy in my opinion).

For me, it's money is just numbers. And those numbers dictate how much resources you have to do certain things in life. There's no pride in having a lot, nor is there any shame if having a little. It's just a number. And using that number, I see if I need to do some action to get more money, or if I'm OK right now (and therefore I don't have to go as hard).

For example, I know what all my friends make and they all know what I make. I know almost exactly how much money my parents have in their bank accounts, and they know mine.


Last edited by Angie P.

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