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Having the Money Talk with Adult Children
Trivia: In the 1939 film The Wizard of Oz, what was the name of Dorothy’s dog?
RetireHub
February 10, 2025
Good morning from RetireHub! ☀️ Your Monday newsletter has landed.
Today, we’re discussing having the money talk with your children. Plus, the best deals and more!
Top Deals From Around The Web
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What We’re Reading
Check out this free book—get it on Kindle before it’s gone!
 | By: Jeff Kerr In Blunt Force Trauma, award-winning author Jeff Kerr blends Texas grit with suspense in a gripping crime thriller. Adam Cash returns to his small-town roots in Pinyon, Texas, after two tours in Afghanistan, hoping to become a deputy sheriff. But Sheriff Griff Turner, his high school bully, shuts him out. After a failed bid for sheriff, Turner turns up dead, and all evidence points to Cash. On the run, Cash uncovers a deadly conspiracy and races against time to clear his name, catch the real killer, and protect the innocent. Blunt Force Trauma kicks off the Adam Cash series with action, twists, and redemption. |
On this day in 1863, Alanson Crane invented the fire extinguisher, a pivotal advancement in fire safety.
RetireHub Poll
Have You Had "The Money Talk" with Your Adult Children? |
Having the Money Talk with Your Adult Children
As we age, financial planning becomes crucial, yet many seniors hesitate to discuss it with their adult children. Whether addressing retirement savings, estate planning, or long-term care, open communication prevents misunderstandings and ensures peace of mind. Here’s how to navigate this conversation with confidence.
1. Choose the Right Time and Setting
Pick a calm, private time to talk, avoiding stressful periods or family gatherings.
2. Be Open and Honest
Your children don’t need every detail, but they should understand your assets, debts, and future plans to support you effectively.
3. Address Estate Planning and Legal Documents
Ensure you have a will, power of attorney, and healthcare directive. Let your children know where these are stored and who is responsible for key decisions.
4. Discuss Long-Term Care and Medical Expenses
Talk about your care preferences—aging in place, assisted living, or other options—and how they will be financed.
5. Set Expectations About Financial Assistance
If you may need financial support from your children, address it early to prevent misunderstandings and strain.
6. Encourage Questions and Ongoing Discussions
This isn’t a one-time conversation. Revisit financial topics periodically as circumstances change.
7. Seek Professional Guidance if Needed
Consider a financial advisor, estate planner, or elder law attorney for expert guidance.
Final Thoughts
While discussing finances with your children may feel uncomfortable, it’s essential for securing your future. Approach the conversation with honesty and preparation to ensure everyone is on the same page.
Yesterday’s Poll Results: What type of photography club activity would you most enjoy?
Here's a possible response:
It looks like Photo Walks are the most popular activity with 89% of votes, followed by Social Events at 45%. It’s great to see so much enthusiasm for getting outdoors and capturing beautiful moments, along with a healthy interest in socializing and discussing photography!
Thanks to the many of you who vote and comment every day. We love hearing from you!
Top comments & sentiments:
“Any creative/artistic activity makes you look at things differently, makes you appreciate things you might not even notice otherwise.”
“I would enjoy all of these, to a certain extent, although I've improved, I'm a bit of an introvert. I've always loved photography. I sold all occasion cards, when I was 13, to buy a Polaroid camera.”
“Photo walks sound so pleasant! Social events would be great too!”
While we can’t publish them all, we do read and appreciate every comment. Some comments are edited to make room for more contributions.
Senior Living News From Around the Web
Playing the ‘What If’ Game Like Your Life Depends on It – And It Does!
Ever find yourself worrying about "what if" scenarios? 🤔 This article from Sixty & Me explores how playing the "What If" game can either fuel anxiety or help you feel more prepared for life's uncertainties. Learn how to shift your mindset and use this mental exercise to your advantage!
👉 Read more
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Longevity Tip of the Day
Start today by adopting a positive relationship with money. It’s not just about saving or investing, but also about cultivating a mindset that prioritizes financial well-being for the long haul. Focus on building healthy habits, like budgeting wisely, tracking expenses, and understanding where your money goes. Make conscious decisions about what you spend and save, and remember, small changes can lead to long-term financial stability! 🌱💰
Slang Phrase of the Day
Phrase: Dank
Meaning: Extremely cool, high-quality, or impressive.
In a sentence: That new music playlist is absolutely dank—every song is a banger! 🎶🔥
Good News of the Day
🚑 From Survivor to Hero: How Beating Cancer Three Times Led to a Life of Service
After surviving cancer three times, she turned her gratitude into action—becoming a paramedic to give back to others in need. Her inspiring journey is a testament to resilience, purpose, and the power of paying it forward. Read her incredible story here! 👉 Read more
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RetireHub Trivia
Want more trivia? Play our “Nostalgia Trivia Game” on our site! We add fresh questions daily, so there’s always something new to test your knowledge.
Not into trivia? No worries! We’ve got plenty of other fun games to enjoy, like:
Which 1942 film features Humphrey Bogart and Ingrid Bergman and is known for the famous line "Here's looking at you, kid"? |
In the 1939 film The Wizard of Oz, what was the name of Dorothy’s dog? |
Which 1954 musical featured Marilyn Monroe performing the iconic song "Diamonds Are a Girl's Best Friend"? |
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***RetireHub may share poll results with advertisers.