Here are 4 tips for helping your aging parents with their finances:

  1. Start a conversation. Let your parents know that you’re there to help them manage their finances and that you’re interested in learning more about their needs and goals.

  2. Review their financial situation. Get a clear picture of your parents’ assets, liabilities, income, and expenses. This will help you identify any areas where they may need assistance.

  3. Help them create a budget. A budget can help your parents track their spending and make sure that they’re living within their means.

  4. Help them develop a financial plan. A financial plan can help your parents achieve their financial goals, such as saving for retirement or paying for long-term care.