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Fidelity: Families That Discuss Their Financial Plans Feud Less

Gregg Greenberg
10/23/14 12:32 PM EDT
High net worth parents struggling to talk to their children about money will benefit from increased communication, said Chris McDermott, Chief Operating Officer for Fidelity Private Wealth Management. According to Fidelity's Intra-Family Generational Finance study, approximately 30% of parents do not discuss their retirement plans with their kids because they do not want them to count too much on their future inheritance. Meanwhile, nearly a quarter of adult children avoid discussing family finances with their parents because they feel it would be upsetting to both parties.

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