How (and Why) To Talk Money At Your Family Dinner Table | Old North State Wealth News
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How (and Why) to Talk Money at Your Family Dinner Table



Money used to be a taboo topic, even among close family members. But for a growing number of Americans, it’s now table stakes. While difficult to have, sensitive conversations about money are happening more often, and they are vital to ensuring people can plan for the wealth — and health — of their loved ones. Done well, these chats help family members understand each other’s short- and long-term needs and goals — and result in a strong financial plan everyone in the family is aligned with.

It’s also clear that intergenerational wealth discussions are happening sooner than ever. According to Northwestern Mutual’s Planning & Progress Study, the average American thinks the right time to start talking with kids about family finances is age 17. And among Millennials and Gen Z, there’s a desire to start even earlier. These conversations can help young people build a foundation of financial know-how to thrive in the years to come. But, more importantly, they can give families an opportunity to reconnect on expectations, values and their hopes for the future.

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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