Religion, sex, politics and money rank as taboo topics for polite conversation, perhaps avoided with our adult children, too. But money should be on the table for the simple reason that our financial situation often affects our kids as we age.
A reminder of that comes in an honest and heartfelt column by Yahoo financial adviser Mandi Woodruff about her parents. She writes:
“These days, I find myself worrying far more about their financial futures than I do my own. Who will pay for home health care should they need it (70 percent of us will, after all)? What will they do if they have to survive on Social Security alone? Sometimes my dad makes casual hints about my taking care of him in his old age and, honestly, I’m pretty sure that’s the closest thing to long-term care insurance he’s got.”