This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Start Money Talks With Mom, Fidelity Study Says

NEW YORK ( TheStreet) -- Mothers Day is big business for U.S. retailers, whether mom wants you to spend big money on her or not (more on that in a moment.)

According to MasterCard (MA), Americans spend more than $16.2 billion on Mothers Day weekend.

On the Friday before Mothers Day alone, MasterCard says, its network of U.S. florists takes in $20 million from consumers buying flowers. That makes mom's big day also a big day for florists -- they do 35% more business that Friday compared with any other day of the year.

Is mom really OK with all that spending?

Maybe or maybe not, but one thing's for sure: Mothers are far more likely than fathers to give you an opinion on your spending habits -- on Mothers Day and every other day of the year, apparently.

That's a primary conclusion drawn from Fidelity Investment's most recent Intra-Family Generational Finance Study, released Wednesday. The study, the third installment in a series from the Boston mutual fund firm, focuses on the differences and similarities among family members on personal financial matters.

Fidelity says mothers are more natural "empathizers" than fathers on money matters, which makes it easier for children to discuss their finances. As a result:

  • More mothers than fathers (79% to 69%) have had "comprehensive" dialogue about estate planning and wills with their adult children.
  • More mothers than fathers (66% to 56%) discussed elderly care and disability insurance with their adult children.
  • More mothers than fathers (70% to 55%) asked their adult offspring about covering living expenses in retirement.

Also, dads don't always look at their kids as a source of financial help in their old age -- only 3% of dads say their kids should help with medical bills and adult medical care in their old age (compared with 13% of moms.)

And significantly more fathers say they depend on their spouses for financial support when they grow older and become ill than they do their children. Fidelity says moms may be more concerned over their children's financial situation than their own money picture -- an unhealthy view, according to U.S. fathers.

To bridge that gap, Fidelity says adult children should talk to both parents -- but at least one right away, to get the ball rolling. No family wants any big, negative financial surprises coming down the pike, so the more robust the dialogue the better.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,637.57 +280.70 1.62%
S&P 500 2,042.67 +29.78 1.48%
NASDAQ 4,714.2930 +69.9810 1.51%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs