Money Talks: Navigating Uncomfortable Conversations with Loved Ones with Erin Lowry

Partner Deals Long Angle: Join a free private community for high net worth investorsBilt Rewards: ⁠Earn the most valuable points when you pay rentQuince: Affordable luxury essentials with free shipping + 365 day returnsFabric: ⁠Affordable term life insurance for you and your familyMasterClass: ⁠Learn from the world's best with up to 15% offFor all the deals, discounts and promo codes from our partners, go to: allthehacks.com/deals#114: Personal finance expert and and author, Erin Lowry joins Chris to discuss the importance of having financial conversations with your parents, including sharing some specific scripts for initiating the discussion. They also cover financial advisors, estate planning, prenups/postnups, lending money to friends and more!Erin Lowry (@brokemillennialblog), best know for her three-part ‘Broke Millennial’ book series, is on a mission to help millennials navigate the complex world of personal finance, demystifying everything from budgeting and saving to investing and retirement planning. Erin's work has been featured in major publications such as The New York Times, Wall Street Journal, and Forbes.Full show notes: https://allthehacks.com/money-conversations-erin-lowryPartner DealsMasterworks: VIP access to skip the waitlistAthletic Greens: Free 1 year supply of Vitamin D and 5 free travel packsGelt: Skip the waitlist on personalized tax guidance to maximize your wealthMasterClass: Learn from the world's best with 15% offInside Tracker: 20% off personalized wellness & nutrition plans backed by scienceFor all the deals, discounts and promo codes from our partners, go to: allthehacks.com/dealsResources MentionedConnect with Erin: Twitter | Instagram |  LinkedIn | WebsiteErin’s Books: Broke Millennial: Stop Scraping By and Get Your Financial Life Together Broke Millennial Takes On Investing: A Beginner's Guide to Leveling Up Your Money Broke Millennial Talks Money: Scripts, Stories, and Advice to Navigate Awkward Financial Conversations Broke Millennial Workbook: Take Control and Get Your Financial Life Together AARP Report: Family Caregivers Provide $600 Billion in Unpaid Care Across the U.SSeniors & Medicare and Medicaid EnrolleesMIT Age Lab ReportsFinancial Advisory Services: XY Planning Network | CFP Board: Let's Make a PlanLast Week Tonight on Retirement PlansTrust & Will: All The Hacks Members get 50% off1Password: Password Manager for Families & BusinessesTrustworthy: 14-day Free TrialRamit Sethi’s Podcast: I Will Teach You To Be RichRamit Sethi’s Netflix Show: How to Get RichErin’s Japan Recommendations: Visit: Kobe | Arima (stay in a ryokan) Do: Take in a Japanese baseball game Eat: Champagne & GYOZA BAR -Tokyo All the Hacks Episodes: #112: Money + Relationships: Building and Living Your Rich Life Together with Ramit Sethi #91: Die With Zero: Net Fulfillment Over Net Worth with with Bill Perkins Full Show Notes(03:09) The Importance of Discussing Finances With Your Parents(04:52) The Role of Children in Caring for Aging Parents(07:41) Programs Available for Elderly Parents Struggling Financially(09:56) Overcoming the Taboo: How Rare Are Money Talks?(14:26) Approaching Money Conversations With Your Parents(19:43) Financial Discussion Strategies(22:49) Bringing in Third Parties: Using Mediators in Financial Discussions(24:08) Scripts for Talking About Money With Your Parents(27:39) Understanding Estate Planning(28:44) Continuing the Conversation: Keeping Money Discussions Alive(32:06) The Benefits of Working With a Financial Planner(38:19) Financial Course Correction for Retirees(41:18) Discussing Pertinent Information With Your Adult Children(44:13) Advice for Parents(47:51) Important Financial Documents: Compiling, Sharing, and Keeping Them Up-To-Date(54:47) Discussing Prenups and Postnups(1:12:03) Money Talks With Friends: Tips for Having Open Conversations(1:13:50) Loaning Money to Friends(1:14:54) Engagement Rings(1:16:12) Japan RecommendationsConnect with All the HacksAll the Hacks: Newsletter | Website | Membership | EmailChris Hutchins: Twitter | Instagram | Website | LinkedIn