Money Conversations

We are once again honored this week to be featured in Roger Wohlner’s blog, The Chicago Financial Planner! Roger was recently named #3 on the list of “Top 100 Most Social Financial Advisers in the US.” Last week Roger featured a blog by Cheryl Sherrard on the Money Conversations you should be having with your spouse regarding caring for your aging parents.

You can read an excerpt from the write-up below, or read the whole article, here.

We all know that when we get married, we marry the entire family.  What we may not realize is that each of us comes into a marriage with expectations about how we will interact with and assist our families.  Most couples talk about and come to consensus on topics such as when to visit which set of parents and can usually resolve that by rotating holidays with their respective families.

 

However, the discussions you may not have had revolve around each of your expectations surrounding caring for aging parents and in-laws.  You may be fortunate if the prior generation has already dealt with planning for any needs that will arise in their later lives, but you and your spouse should consider what you know about their current situation, their preparedness for unexpected issues and your ability and willingness to help and supplement their care if needed. While we can’t control the specific course of events nor the time frame of how our parents age, married couples can and should proactively discuss what their expectations are and how they want to approach caring for aging parents should a need arise.

 


 

Roger started The Chicago Financial Planner blog to share his knowledge and experiences as a financial advisor with his readers.  His goal is to provide ideas to readers in the hope of guiding them to take the actions needed to plan for the financial future they desire for themselves and their families.