Is it time to have “the talk” with your parents? Discussing your parents’ retirement plans with them might be as uncomfortable as the “birds and bees” conversation they had with you. It still needs to happen.
Knowing how they plan to finance their retirement will present any potential gap or help they might need in the future. Start the conversation with delicacy and tact. Confirming they have a will is a great place to start.
What are their aspirations? Do they plan to travel or relocate?
The big questions: How and where are their funds invested? Do they carry any debt which can derail their retirement plans? Do they have health coverage, long-term care insurance? How much will they receive from Social Security?