A Fidelity survey reveals that 56% of Americans have never had a money conversation with their parents. This highlights a complex relationship with wealth, where most Americans feel they are not wealthy and rely on self-made success. Experts suggest starting financial discussions during the holidays to prepare for unexpected events.
According to a Fidelity survey, 56% of Americans report that their parents never discussed money with them. This often stems from a complicated relationship with money, where 89% of Americans do not consider themselves wealthy, and 80% identify as self-made. Experts recommend initiating financial discussions, particularly with aging parents during the holiday season, to ensure smoother transitions in case of unexpected events.
However, one-third of baby boomers do not feel the need for formal financial planning
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