The holidays provide a cozy time to discuss your family's financial future while everyone is together for a few days. It's an opportunity to share stories, to pass down lessons learned in hard times and to convey the connection and resilience of family. You may not want to talk about estate planning and inheritances around the table, but arrange for some time over the break to have these conversations.
Studies show that families often avoid or put off talking about their finances. Money talk remains taboo across almost every aspect of modern society: economically, educationally and culturally, according to research from Fidelity. Most of those surveyed by Fidelity (56%) say that money wasn’t discussed at home or growing up. An overwhelming majority (81%) said they "would have benefited from financial education at an earlier age."
