The holiday season is in full swing! As we head into these final couple weeks of the year, maybe you are seeing family and friends that you haven’t seen in a long time. We all know how thorny conversations can come up during these gatherings, but personal finance does not have to be one of those tricky topics! Here are some conversation starters that will help you connect with your loved ones and maybe even redirect from more fiery topics, if needed.
What are your dreams for once you go into retirement?
Everyone has a different idea of what retirement might look like for them. Some might want to travel the country or the world for months on end, or buy a new house to fit their lifestyle. Some people might want to help pay for grandchildren’s college expenses, or donate money in support of a cause close to their heart. Whatever your hopes and dreams for retirement are, you can check in with a financial advisor to learn how to reach those goals. You can also get a free account analysis from blooom to see what your retirement income could look like. The sooner you plan, the sooner you could live out those dreams!
If you won the lottery tomorrow, what would you do first?
Again, it’s time to dream big. This is a fun conversation in part because it’s such an absurd premise, but you can learn a lot about people by how they answer this question. Are they a saver or a spender, or somewhere in between? Would they quit their job or keep working? Or maybe they have entirely unconventional ideas for those winnings. There are tax implications and investment considerations, but what would you do with the money after all that? Let that creativity flow as you share all your ideas.
What do you want to do differently in your finances next year?
Now that you’ve considered some fun hopes and dreams for the future, let’s get practical. What is something you want to change in your finances? What’s a small step – or a big move – you can make in 2022 to set yourself up better financially? Wherever you are at in your personal finance journey, there is probably something you can learn about or improve upon in the new year. Is it time to make a monthly budget and stick to it? Maybe you want to start saving more money with automatic transfers into a savings or investment account, or maybe you have a significant life change on the horizon to plan for? Check out our financial planning checklist to read our ideas for additional steps you can take.
Published on December 22, 2021