I know that having a discussion with your ageing parents about money – or discussions, as it’s not likely to all be all tied up in a neat little bow after one chat – is unlikely to be something you’re excited about. But it’s important and can make a big difference to their financial future.
It’s also vital to not put it off too long and that you have these conversations before their health deteriorates or there is some sort of crisis.
If you’re not sure about when the right time might be, consider using age as a guide. Something I have seen recommended is the 40/70 rule, which means that if you are 40 or your parents are 70 it’s a good
