To effectively plan for clients retirement, advisors are going to have to broach sensitive subjects around family finance.
Thats the message from a Bank of America Merrill Lynch study titled, Family & Retirement: The Elephant in the Room, which showed that many adults 50 and older with over $250,000 in investable assets were simply not discussing with their families in many cases even their spouse - some of the most important financial planning concerns. More than half had not discussed issues such as a will or health directive with their children and nearly one-third of respondents over 50 had not had those discussions with their spouse.
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