{"id":516619,"date":"2022-11-27T00:18:00","date_gmt":"2022-11-26T21:18:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/retirement-hacks-talking-about-money-at-the-holidays-its-not-always-a-bad-idea\/"},"modified":"2022-11-27T00:18:00","modified_gmt":"2022-11-26T21:18:00","slug":"retirement-hacks-talking-about-money-at-the-holidays-its-not-always-a-bad-idea","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/retirement-hacks-talking-about-money-at-the-holidays-its-not-always-a-bad-idea\/","title":{"rendered":"#Retirement Hacks: Talking about money at the holidays? It\u2019s not always a bad idea."},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4ef064e2af8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4ef064e2af8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/retirement-hacks-talking-about-money-at-the-holidays-its-not-always-a-bad-idea\/#%E2%80%9CRetirement_Hacks_Talking_about_money_at_the_holidays_Its_not_always_a_bad_idea%E2%80%9D\" >&#8220;Retirement Hacks: Talking about money at the holidays? It\u2019s not always a bad idea.&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/retirement-hacks-talking-about-money-at-the-holidays-its-not-always-a-bad-idea\/#How_to_make_heavy_talks_like_estate_and_retirement_plans_easier_this_holiday_season\" >How to make heavy talks, like estate and retirement plans, easier this holiday season<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/retirement-hacks-talking-about-money-at-the-holidays-its-not-always-a-bad-idea\/#Alessandra_Malito\" >Alessandra Malito<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CRetirement_Hacks_Talking_about_money_at_the_holidays_Its_not_always_a_bad_idea%E2%80%9D\"><\/span>&#8220;Retirement Hacks: Talking about money at the holidays? It\u2019s not always a bad idea.&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"How_to_make_heavy_talks_like_estate_and_retirement_plans_easier_this_holiday_season\"><\/span>\n  How to make heavy talks, like estate and retirement plans, easier this holiday season<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap crawler\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0001412423\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0001412423\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Politics and family affairs always make the top of the list for conversations around the holiday table. This season, add a little money talk, such as retirement and estate plans.\u00a0<\/p>\n<p> <strong>Retirement Tip of the Week: When getting together with family during the holidays, talk about money \u2013 whether it be asset management, budgeting, expectations for the future or estate plans.\u00a0<\/strong><\/p>\n<div class=\"paywall\">\n       Talking about money isn\u2019t always easy, especially with family members. Not everyone feels comfortable discussing finances, or wants to divulge information about their current or expected situations.\u00a0<\/p>\n<p>But having conversations about family finances \u2013 if even just light discussions about hopes, wishes and expectations \u2013 can make a huge impact. Adult children may not know their parents expect them to take over caregiving responsibilities when they\u2019re older, for example. Family members may also feel embarrassed to mention a money problem they\u2019re facing, and could miss out on helpful suggestions loved ones have to offer \u2013 such as resources to look into or a financial adviser to consult.\u00a0<\/p>\n<p><strong>See: <\/strong>My parents are unprepared for retirement \u2013 how can I help them?<\/p>\n<p>Try starting with talks around retirement plans, or for those already retired, how they\u2019re doing in this chapter. Parents may not want to share hard facts and figures about their finances, but they might be willing to talk about what they want to do in retirement before they start to slow down. Families can also talk about how to manage money, especially lately when the stock market is volatile, inflation is rising and interest rates are climbing as well. Although it\u2019s a stressful time for many Americans, it may be an opportunity to broach the topic.\u00a0<\/p>\n<p>Another strategy: bring up financial resources first, and share how they\u2019ve helped you. Relatives already working with a financial adviser may want to recommend that professional to their loved ones while chatting over the Thanksgiving turkey, or show their fellow holiday gatherers the latest <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>s and websites they\u2019ve been using to manage their money. (Anyone taking advice on financial advisers or apps should still vet these resources, however.)\u00a0<\/p>\n<p><strong>Want more actionable tips for your retirement savings journey? Read MarketWatch\u2019s <\/strong><strong>\u201cRetirement Hacks\u201d<\/strong><strong> column\u00a0<\/strong><\/p>\n<p>Loved ones should also discuss estate plans, such as if they have wills and healthcare proxies \u2013 or when they were last updated if they do. Again, not everyone will want to discuss the details of these plans, such as who is being left what, but knowing these important documents exist will make it much easier when an emergency arises. This is a crucial exercise for aging parents as well \u2013 they may not have thought of who will be making medical decisions for them if they\u2019re incapacitated, or the backup if that person is also unavailable (such as an equally older spouse).\u00a0<\/p>\n<p>Caregiving is often an overlooked conversation topic until it\u2019s too late. Relatives may have expectations that their children or grandchildren will take the primary role of caregiver \u2013 either for their physical well-being or the money management \u2013 but it\u2019s important everyone be on the same page to avoid surprises. Caregiving can be overwhelming, and without the right planning on the caregiver\u2019s part, emotionally and financially draining at times. They need to protect themselves just as much as they may want to take care of their older or sick loved ones.\u00a0<\/p>\n<p>Those not willing or interested in talking about these matters during the holidays \u2013 and for some, it\u2019s not exactly a cheerful conversation \u2013 should try and schedule a time at a later date instead. Try to get everyone who will eventually be involved in the discussion, such as parents, siblings and grandchildren if necessary. Some experts suggest making it a \u201cfun\u201d activity, like discussing finances over a favorite meal or beverage.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Alessandra Malito\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/alessandra-malito\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/malito_ali\",\"text\":\"@malito_ali\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:amalito@marketwatch.com\",\"text\":\"amalito@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Alessandra_Malito\"><\/span>Alessandra Malito<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><ufc-follow-author-widget product=\"marketwatch\" author-id=\"4_MW\" author-name=\"Alessandra Malito\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Ftalking-about-money-at-the-holidays-its-not-always-a-bad-idea-11669039972%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C06575-04D4-B545-7158-D4713BA5A426%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Retirement Hacks: Talking about money at the holidays? It\u2019s not always a bad idea.&#8221; How to make heavy talks, like estate and retirement plans, easier this holiday season Politics and family affairs always make the top of the list for conversations around the holiday table. This season, add a little money talk, such as retirement&#8230;<\/p>\n","protected":false},"author":1,"featured_media":516620,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-670219\/horizontal","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-516619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/516619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=516619"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/516619\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/516620"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=516619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=516619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=516619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}