The fifth episode focuses on talking to parents about money and their estate planning as they get older. Along the way, I mention my own challenges in figuring out how to handle this as my parents age. Total time: 16:25.
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Here are some additional notes that go alongside the comments in the podcast. Approximate times for the corresponding links and notes are listed.
0:00 – The theme song is a snippet of a Camper van Beethoven concert on October 25, 1986, shared via their very open taping policy. Listen to the concert in its entirety.
0:22 – Some useful reading on this topic.
1:41 – The frugality lessons my parents taught me.
2:38 – Here are some of the ways they managed to juggle all of these things.
3:27 – The book It Pays to Talk by Carrie Schwab-Pomerantz and Charles Schwab was really helpful – here are my detailed notes on the book.
4:31 – Honesty is absolutely vital when talking about these issues.
6:02 – When I’m trying to calm myself down, I often sing to myself. I usually choose a very calm song – usually, it’s Crash by Dave Matthews Band.
8:58 – It might be worthwhile to get your parents a copy of Start Late Finish Rich by David Bach – here are my notes on the book.
11:30 – Estate planning 101
12:07 – A master information document is unbelievably useful in such situations.
15:22 – A semi-preview of next week’s podcast.
One thing I’d like to do in a future episode is have an audio reader’s mailbag. If you have a microphone on your computer and can record an MP3 of a simple, short question you might have on personal finance, careers, pop culture, or anything else you’d like me to answer, record it as an MP3 and send it to me. Keep the total recording under 15 seconds, please. Also, if you use Skype, feel free to ask your question that way – my username is trenttsd.
Comments and suggestions welcome.