EP323 Financially Supporting Aging Parents

As Canadians grapple with the financial and emotional aspects of supporting aging parents, we sit down with Clay Jarvis, a mortgage and real estate expert from NerdWallet Canada. This episode dives into NerdWallet''s recent aging parent survey, conducted by the Harris Poll, revealing that nearly one-third of Canadians are either assisting or plan to assist their parents financially. Listen in as Clay provides expert advice on initiating conversations about finances with aging parents, addressing sensitive topics such as estate planning and end-of-life care. He emphasizes the importance of timely discussions to prevent financial hardships and ensure parents' wishes are respected and planned for accordingly. "It's better to just confront these things head-on, and deal with them." - Clay Jarvis This Week on Young Money: How to start conversations about financial support without adding stress. The impact of financial pressures on multi-generational families in Canada. Practical steps for managing the financial responsibilities of aging parents. Key takeaways: Don't avoid difficult conversations. Practical planning is essential. Consider professional advice. Connect with NerdWallet : Website LinkedIn Connect with Clay Jarvis : LinkedIn Resources Mentioned: Shannon Terrell 2024 Financially Assisting Aging Parents Report Rate, Share & Inspire Other Young Millionaires-in-the-Making Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week's episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts . Don't forget to share your favorite episodes on social media! Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook , Twitter , LinkedIn , our LinkedIn Company Page , or by visiting our website .

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EP323 Financially Supporting Aging Parents is an episode from Young Money with Tracey Bissett by Tracey Bissett.

This episode is 21:21 long.

This episode was published on May 21, 2024.

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