Finances are one of the most difficult subjects to discuss with aging parents. But, it’s important to have those conversations sooner rather than later to help them make the best possible decisions for their future. Here are six tips on how to have those talks in a respectful and helpful way for everyone involved.

Have a Plan

Talking to aging parents about their finances can be a tricky conversation. To make the process easier, it’s wise to come prepared with a plan that keeps these topics in mind: creating an excellent retirement plan, discussing long-term care options, and ensuring powers of attorney are in place.

For seniors living close or far away, placing extra emphasis on understanding these financial concerns will help them prepare for any future senior living arrangements that may arise. Taking the time to discuss such matters with the parents can not only save you stress down the line but will also ensure they are financially secure throughout their golden years.

Be Respectful

When talking to aging parents about finances in Texas, it is important to ensure that the conversation remains respectful. While it can be a delicate subject to discuss, expressing understanding and showing empathy is essential. For instance, if a relative lives in an assisted living community, explain why certain fees may be necessary so they will feel more comfortable with the situation.

Furthermore, ask questions if unsure of something, but remain polite and avoid pushing an agenda during the conversation. Respectful communication can bring family members closer and help support each other’s needs.

Be Prepared for Resistance

It can be a tricky road for those in Texas looking to talk with their aging parents about finances. For example, they may resist the idea of considering assisted living options, despite often being more financially viable than staying at home. Although it can be difficult, bringing a trusted financial advisor or another educated confidant into the conversation can help ease the tension and make a more informed decision.

Furthermore, become prepared to explain what you feel is best for the parent rather than letting them too emotional. It may be a challenging discussion, but respecting their wishes is key for both parties in making wise decisions about their future finances.

Choose the Right Time and Place

When talking with aging parents about their finances, finding the right time and place is important. This can be even more challenging in Texas, where many families are spread across large distances. An ideal opportunity to discuss finances would be when a family member is already present that could provide support, such as an adult child or trusted caregiver.


It is also beneficial to choose a comfortable atmosphere outside the home, like in the garden or local park. Not only will it give everyone a change of scenery from which to talk, but it can also reduce distractions and allow for a calm conversation. Appropriating the right context can go a long way in providing reassurance for all involved in conversations about money.

Be Honest About Personal Finances

Another approach that could be helpful is to start by being honest about one’s financial situation. You are likely the most well-informed member of the family on the current financial climate and how things could play out in the future.

Additionally, honesty helps build trust and makes them more comfortable discussing their finances. An open conversation can make all the difference in finding ways to best secure their financial stability in later life.

Listen More

Another tip to help the conversation go more smoothly is listening more than speaking. Showing that you’re taking the time to understand and respect the parents’ perspectives is critical and will demonstrate that  your intentions are good.

Try asking open-ended questions rather than making suggestions right away to better understand their feelings and plans before getting into specifics. Listening patiently and understanding their viewpoint can create a productive conversation around this often emotional topic without stressing the relationship.

Talking with aging parents about finances can be daunting in Texas, where many elderly residents live on limited incomes. Elderly Texans may not feel comfortable discussing their financial situation or disclosing how far their money can stretch. Conversations must occur with respect and understanding and focus more on the emotions behind the asking than any demand for information.

In the end, however difficult it can be to venture into a conversation about such an intimate subject, talking openly and honestly with aging parents about finances may become increasingly vital as their years progress.

At Villa De San Antonio, we offer independent and assisted living community services. Contact us today and see how we can help.