A Talk That Only Gets Tougher – Part 1 of 2

There’s a talk topic that only gets tougher with time. 60% of people say not burdening their family with tough decisions is “extremely important,” but 56% have not talked about their end-of-life wishes.* National Health Care Decisions Day, (#NHDD) happens every year on April 16. It’s an initiative started by The Conversation Project to encourage conversations about end-of-life care.

This kind of talk tends to be the kind we put off until “the right time.” If we think it through, that “right time” means waiting until some kind of health issue or diagnosis occurs. When emotions are high, that can be exactly the “wrong time.” So the talk gets tougher and put off again.

Since many people have their financial affairs assembled for taxes anyway this month – why not use this day to share with loved ones where to find the documents, where to find the passwords, and your wishes should you find yourself unable to make our own health and/or finance decisions?

Not sure how to ask or where to start? Try these resources:

The Conversation Starter Kit.

How to Choose a Health Care Proxy

How to Be A Health Care Proxy

Conversations for Families of Those With Dementia.

Once you have the conversation, how do you document those wishes? For information on which legal documents you need to make your wishes clear, stay tuned for next week’s post, or check out Chapter 4 of The Mindful Money Mentality: How To Find Balance In Your Financial Future.

The longer this talk waits, chances are, the tougher it will get.

For more tips on the psychology of money, subscribe to the award-winning monthly e-letter, “The View From the Porch,” at https://bit.ly/3t2uwfn.

*Source: Centers for Disease Control (2005).

Holly Donaldson

Holly Donaldson, CFP® runs an hourly and fee-for-service financial planning practice virtually from her Tampa Bay, Florida office. She also works with clients throughout the U.S. (except Texas) interested in retirement and tax planning advice without product sales or investment management. Holly is the author of The Mindful Money Mentality: How to Find Balance in Your Financial Future (Porchview Publishing, 2013) and publisher of the award-winning monthly e-letter, "The View From the Porch."

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