Rick suggests the current market crisis and recession is a good time to talk to your kids about money, but you must be sure you are not “venting” or “dumping” on them inappropriately. In an October 18 article in the Minneapolis-St. Paul StarTribune, reporter Kara McGuire covered this issue. Rick was one of the sources she cited. The following paragraph is from her article:
“Keep the conversation appropriate, however. ‘We don’t want to not talk money because that’s one of our societal problems,’ said author and fee-only financial planner Rick Kahler. ‘We also do not want to rely on our children to be an emotional support for us, or dump on them around issues around money.’ Kids need reassurance from their parents that they are safe and taken care of.”
To read the entire article, click here.