Growing up, if we were lucky, our parents guided and educated us every
step of the way. Even once we become adults, many parents still feel perfectly
comfortable passing along advice about making good life and financial
decisions. It seems natural to them to continue to nurture us and we gratefully,
or at least good naturedly, continue to accept their advice in the spirit
in which it is given.
As natural as it may seem for parents to give children advice, it doesn’t
always feel natural for children to return the favor and offer life and
financial advice to their aging parents. How do you tell them that you
think they need some help? How do you approach the subject so that your
parents see your efforts as caring concern and not intrusion? It is a
delicate and sometimes daunting step to take.
A recent article entitled “
What to Do When Your Parents Can No Longer Manage Their Money” offers not only ideas on how to approach your aging parents about assistance
with managing their money but reviews the very important reasons why children
should take this step, no matter how awkward it feels.
As the article points out, one compelling reason for children to become
involved is that our aging parents are more often finding themselves the
target of scams. An involved child who can quickly notice that something
isn’t quite right can lessen the chance that an attempted scam will
I think a speaker at an event I attended this week may have said it best
when he stated that “it takes a village to help someone age with
grace.” Don’t hesitate to be an active part of your parents’ village.