How to (gently) help your ageing parents manage their money

Focus on how you can assist them rather than shortcomings in their ability to handle finances

Elderly parents can be resistant when it comes to letting their children help with their finances as they still perceive themselves as capable of managing on their own.
Elderly parents can be resistant when it comes to letting their children help with their finances as they still perceive themselves as capable of managing on their own.ST FILE PHOTO

When Ms Reagan Alonso, a semi-retired nurse living in Jacksonville, Florida, first gently offered to help her ageing mother with her finances, she encountered resistance.

Her mother, now 88, was born in Ohio, and "being from the Midwest and of that generation, we're very much, 'you don't talk about money'", Ms Alonso, 60, said.

Please or to continue reading the full article.

Get unlimited access to all stories at $0.99/month
  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.

A version of this article appeared in the print edition of The Sunday Times on November 10, 2019, with the headline 'How to (gently) help your ageing parents manage their money'. Subscribe