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Reply to "How much do you think kids should know about parents' finances (if anything)?"
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[quote=Anonymous]Specifically as they approach retirement? I'm just curious because we never really talked about money as much as we should have when I was a kid. I know its because my parents were young and didn't have much and they felt like they should shield us from from some of that because they just felt like that was the "right" thing to do in their naivity. I don't blame them, they did what they thought was right at the time and were really good parents in many ways. They divorced when I was 17. Dad is on marriage 3 (this one for about 8 years), mom remarried when I was 29. I'm mid 30s. I have one younger sister (early 30s) and they have no other kids. Both are starting to think about retirement as they approach 60 and I was just wondering, what, if anything do you think is ideal for kids to know about their parent's financial health/ situation? Its not really for a 'reason'- there's not going to be anything substantial to inherit or anything like that (although my mom is a good saver, she will need most of that for retirement since she didn't have the option of retirement saving until much later than most, dad is on pension thankfully because I know he's a spender). But I wonder if being so in the dark is something that could be "bad" in anyway? Or if its more normal than I think. Opinions?[/quote]
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