Talking with your family about your financial future can be a difficult conversation. Whether it's teaching children about the meaning of money or planning for retirement, we can help.
Encourage open, honest communications about wealth with family members. It's important to look at these conversations as opportunities to gain clarity and empower decision-makers.
Preparing for retirement can uncover a host of questions and "what ifs". But with proper planning, you and your loved ones can be ready for whatever comes your way.
There are multiple directions in which people may need to extend financial help to loved ones including adult children, grandchildren, parents, in-laws and siblings.
When is the right time to start talking to your family about wealth? Now. Having discussions that include saving, investing, earning, sharing and spending will leave a lasting impression and better prepare them for the future. We all want what's best for our loved ones. And it all begins with a conversation. Register for more family finance content:
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1) Merrill Lynch Private Banking and Investment Group: "Is There Love in Money: Reframing Wealth," February 2016
2) Merrill Lynch / Age Wave Study: "Family & Retirement: The Elephant in the Room," November 2013
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