| For Adult Children Adult children worry about their parents' financial well-being as well as their physical health. If you are set financially, let them know that they won't have to take care of you. That will be a burden off their mind. Believe me, I know firsthand. After the death of my father, I asked my mom if the loss of his pension would create any problems for her. We didn't go into detail or into a precise accounting of her assets, but her assurances that she'd be fine financially allowed me to exhale deeply and focus on making sure she was okay in other ways. So if you're struggling, your kids probably have some idea. Having an open discussion about it may yield some solutions. Talking about money to your kids and grandkids will make them better consumers and investors. Let them learn from your mistakes (don't worry, they'll still make plenty of their own), and show them what's worked for you. Include the family in your financial decisions and important specifics, like where the money is actually stored. A story I hear over and over is about a parent (usually the father) who had cash stashed around the house or in various accounts, and no one knew where it was when he died. That can be a nightmare for the surviving spouse or heirs. Make sure someone other than your spouse (the executor of your will, for example) knows where to get all of the information on your accounts. You don't have to give them the information now, but tell them where to find it. "It's in safe deposit box No. 103 at the Chase bank around the corner. The key is in the lower left hand dresser drawer." In that safe deposit box, keep a list of accounts, user IDs, passwords, etc., so that your heirs can easily access it once you're gone. Make sure whomever you're leaving that information for is on the list of people who can access your safe deposit box. All of those details will be useless if it can't be accessed. For Younger Children Play money games with your kids and grandkids like Monopoly, Cashflow or Life. You can even make up games with them while you're shopping. If you're at Costco and they want cereal that's $7 for two 20-ounce boxes, tell them they can get it if they can figure out whether it's cheaper there or at another grocery store where it costs $3 for an 11-ounce box. Have them clip coupons for you and give them half of the money you save. Anything that engages them and gets them talking or asking questions about money will be helpful. Make sure they learn all the important facts of life from you, not from Mickey. What are the ways you've talked with your kids or grandkids about money that have been effective? Share your thoughts in the comments. | 
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