How To Talk To Your Parents About Hiring A Financial Advisor For Seniors

When was the last time you had an awkward talk with your parents? Most likely your answer would have something to do with the stupid things you did when you were young, right?

But what about money matters particularly, the handling of money during old age? Surely, the mere mention of this topic would make you uncomfortable in some ways since we expect older adults to be more experienced in this facet of life.

Yet, at some point, we have to accept the fact that seniors may be having difficulties managing their finances as they age. And it’s something that the whole family should talk about before the situation becomes problematic.

We are going to share some advice on how to talk to your parents about hiring a financial advisor for seniors in this post.

Decide Among Your Siblings Who Will Initiate The Conversation

Unless you’re the only child in your family, it’s important to realize that you don’t have to face this conversation alone. So we recommend that you talk first with your siblings and select the one who is the best able to discuss the topic with your parents. In this way, they can introduce the topic more sensitively and your parents will be more open to accept the possibility of hiring a financial advisor for seniors.

In addition, it is best to proceed with the conversation without having your parents interpret it as an attack.  Consider having one of the siblings broach this topic instead of when all siblings are present. 

Basically, try to engage the topic in a less threatening manner so your parents won’t hold back.

Start By Sharing A Story

One proven method of imparting ideas is by sharing a story that your parents can relate to. For example, you may consider beginning with an experience of a friend whose parents are now facing problems with money because they failed to plan in advance.

Basically, use an anecdote to highlight to your parents the importance of proper fiscal management.

Don’t Be Overly Forceful

Try not to lecture or speak from a superior stance.  Just be candid and allow the flow of the dialogue to open the door to your main topic.

Choose the Right Moment to Broach the Topic

And finally, initiating talk about money matters with your parents and suggesting the services of a financial advisor for seniors will be futile unless you know when to approach them.

We all have good days and bad days, and it’s no secret that your parents will have their fair share too. So it’s best to initiate this conversation when you feel like they’re open to speaking about sensitive topics.

Also, remember to be patient and give them time to think.  And when the time comes when they are interested in exploring the subject in more detail, we recommend that you engage a professional to explain the benefits of working with an expert from a reputable company to manage their finances.  At SilverBills we often partner with financial advisors to provide a wholistic approach to fiscal health for seniors. Get in touch with us today.