A U.S. Bank Wealth survey found that parents are more comfortable talking to their kids about who they're voting for than about the family's finances: 76% said they'd rather discuss their candidate of choice, compared with just 63% who felt at ease talking money. Financial Planning explores that gap in "Why Clients Would Rather Talk Politics Than Money With Their Kids," gathering advisor perspectives on why money remains such a stubborn taboo across generations, including from our Managing Principal, Daren Blonski. Daren points to a generational shift already underway that could start closing that gap. "A 'Google generation' is accustomed to sharing just about any and everything with family, close friends and in some cases perfect strangers," he says.
Key Takeaways
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Discomfort talking about finances runs across generations, with 58% of Gen Z, 55% of millennials, and 49% of Gen X reporting it feels taboo.
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A more open "Google generation" mindset may be starting to erode the stigma around discussing money within families.
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Avoiding money conversations early in life often means kids repeat the same financial mistakes their parents made.
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Simple, age-appropriate conversations about budgeting, saving, debt, and credit scores build financial confidence over time.
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Estate planning, inheritance, and caregiving decisions go more smoothly when families talk about them before a crisis forces the conversation.
Helping families have these conversations, before they turn into a crisis, is part of the process we walk clients through from day one. Learn more about Our Process.