Millennials are finding themselves providing money to their aging parents for basic life needs. But with limited fiscal flexibility of their own, how do they offer support – without breaking their own bank?
In today’s episode of Your Money Minute, I talk through a few conversation starters to have with your aging parents as you discuss financial support.
It’s important to understand the need and how long your parents may need support. It can also be helpful to understand how the need arised in the first place. Open and honest communication is a great starting point point. And do remember: Financial support is not the only way you can support your aging parents. Be creative!
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