For some of us, planning for the care as we age is a legitimate contingency in our financial plans. Most children have at least a vague idea of whether their parents will require financial assistance or guidance as they age. But there is one way to know for sure: Ask. Talk about finances with your children early enough to provide them with a clear picture of how your needs may affect their finances and planning.
For those of you who have adult children, I would recommend that you initiate the discussion. Let your kids know if you have worried about your finances or if you have sufficient assets to cover your needs. Tell them whether you have a financial plan. If you find it difficult to discuss your specific finances with your children, at least give them some insight into your situation. Just remember how infuriating it was when they were teenagers and they never seemed to communicate with you – even on matters that you thought were important. Talk to them. They probably want to know but may not know how to ask, just like you years ago.