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This Week's Most Popular

Survey Says Seniors and Kids Avoid Money Talk

Published Monday, August 25, 2008

Adult children often play a key role in a senior's decision to move to an age-restricted building. But a new study reveals that adult children have little knowledge about their parents' finances, which could slow both the decision-making process and building lease-ups. Market research firm Crestwood Associates conducted the online survey of 525 adult children and 525 seniors. Golden Gateway Financial, a reverse mortgage brokerage based in San Francisco, sponsored the study. Half of all seniors surveyed said they had never had an in-depth conversation about their finances with their adult children. Two-thirds of seniors ...

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