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Reply to "Do you know your parents net worth? "
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[quote=Anonymous][quote=Anonymous]I know my mothers NW because I have to manage her finances at this point. We set her up with a financial advisor to consolidate all the accounts she had, and we get monthly statements. It's around $4m at the moment, and her government pension basically covers her living expenses in her retirement home. Already sold her house so no complications there. [/quote] Me too. I know where everything is, every account, password and value. After my dad died and left a mess she didn’t want to put my brother and I through that so she became very transparent and started consolidating everything she could. Which was incredibly lucky because a few years later she started declining cognitively. It’s just practical to know what’s there. I hope she lives forever (as long as she has a good quality of life). But I’m also a realist. [/quote]
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