Adult children and their parents struggle to communicate on key financial topics that include retirement planning, providing care for elderly parents and inheritance strategies, according to a new study by Fidelity Investments.
Fidelity’s Intra-Family Generational Finance Study analyzed the levels of disagreement and miscommunication between parents and their adult children on a range of sensitive topics, and found that adult children are not only anxious about their own finances, but also their parents’ future health, retirement security and estate plan. The study revealed that 97 percent of parents and children disagree on whether a child will take care of his or her parents if they become ill.
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