Financial advisor shares tips for discussing money over Thanksgiving

MILWAUKEE (CBS 58) -- Tom Neumann, a financial advisor from Drake & Associates, joined us Tuesday, Nov. 18 to talk about why Thanksgiving is a good time for families to talk about finances.

Neumann explained that waiting until a health or financial emergency to discuss family finances can be costly, and the holidays provide an opportunity to talk about important financial decisions when everyone is gathered together. He outlined three key topics families should cover: retirement planning, estate planning and long-term care.

He also recommended finding a calm, comfortable and private space to start the conversation, being transparent and understanding it may take more than one meeting.