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The Rachel Cruze Show

The “Money Talk” Every Family Needs to Have

The Rachel Cruze Show

Ramsey Network

Education, Investing, Business, Self-improvement

4.83.6K Ratings

🗓️ 16 April 2025

⏱️ 7 minutes

🧾️ Download transcript

Summary

📈 Are you on track with the Baby Steps? Get a free personalized plan.   Talking about the future with your aging parents might feel tough—but it’s one of the best ways to care for them. In this episode, find out how to have “the money talk” in six steps so everyone can feel confident and prepared.   Next Steps: 🎥 Watch my video 3 Healthy Money Boundaries to Set With Family. 🛡️Create your will online today with our RamseyTrusted® partner Mama Bear Legal Forms. 💵 Start your free budget today. Download the EveryDollar app!   Connect With Our Sponsors:   🏥 Learn more about Christian Healthcare Ministries. 🔒 Get 20% off when you join DeleteMe. Explore More From Ramsey Network: 🍸 Smart Money Happy Hour 🎙️ The Ramsey Show   💸 The Ramsey Show Highlights 🧠 The Dr. John Delony Show 💰 George Kamel 🪑 Front Row Seat with Ken Coleman  📈 EntreLeadership   Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Have you realized that our parents are getting older?

0:08.5

Yeah, that happens in life.

0:10.2

So it's important to start talking about their future while they're still in a good mental

0:15.0

and physical space.

0:16.6

So today I'm going to walk through how to have the money talk with aging family members.

0:21.8

There are six simple steps that will help you really navigate this season for your parents

0:26.5

or your loved ones to feel loved and supported.

0:29.3

But first make sure to like, subscribe, and share this episode with a friend.

0:32.9

The first meeting I would recommend you having is if you have siblings to get the siblings

0:37.4

together. Now, I know everybody, you know, you have siblings to get the siblings together.

0:38.3

Now, I know everybody, you know, has a different relationship with their siblings and all of it,

0:42.9

but if you do have a relationship with them at any capacity, getting together as adult children

0:48.9

just to say, hey, let's all talk about this out loud. Mom and dad are getting older.

0:53.7

So how involved do we need to be when it comes to when things come up like medical visits and bills, hospital or nursing home stays? Like knowing kind of the expectation of the siblings together of, hey, what's kind of the plan going forward as mom and dad are aging? And again, if your parents aren't at like that age,

1:11.7

you know, where you're like, oh gosh, really feeling that tension, it may be hard to kind of discern

1:14.9

because so much can change year to year. But just knowing overall, as siblings, like we are going

1:19.9

in as a united front, that is such a gift if you can do that. Number two is approach is everything.

1:26.1

So when you start this conversation with your parents,

1:28.3

they may kind of feel like they're losing their autonomy or their independence. And again,

1:33.6

you're having these conversations just to make sure that they are set up well when something

1:38.0

happens to them and that you know kind of where they're at from a financial standpoint,

1:43.0

know about their life insurance, know about

...

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