To Involve the Family in Financial Planning, Start With These 3 Topics

Despite the fact that a family’s financial health is one of the greatest indicators of both children’s future success and a healthy retirement, too many families treat money as a taboo topic.

Frequently one person in the household takes responsibility for the vast majority of financial matters. While this can be fine and functional for the day-to-day needs, it is important to engage the entire family in the bigger-picture conversations.

As a financial advisor, understand that people may not naturally engage in these types of conversations because they don’t feel equipped or knowledgeable. By bringing the conversation to everyone’s shared level of competence, you can make them feel part of the process, which can lead to more holistic buy-in and appreciation of the financial advice.

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