Rich and Co.

Everybody Dies

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Fidelity reports of survey of different generations and planning for death and disability.   Some take aways:

Get people comfortable with being uncomfortable, she said, and keep the conversation going.

“Most parent and kids don’t want to discuss the practical issues of aging and death. But it can bring peace of mind and avert financial disaster.

It’s important to talk about aging and money early because the best decisions don’t get made in the midst of a crisis. There are no do-overs if a parent, for example, falls for a financial scammer and wires away all of the money, or if one becomes incapacitated and can’t share personal wishes.

Schmitt’s advice for launching these discussions is to start small.  “People get overwhelmed at the prospect, so they procrastinate. Start with tactical elements that take the emotions out, like letting kids know where the keys are in a crisis and where documents are,” Schmitt said.


Written by Rich and Co.

June 28, 2016 at 4:37 pm

Posted in Uncategorized

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