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Americans moving past taboos about family financial planning, study finds [Video]

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Corporate Finance

Americans have historically been averse to discussing financial matters among family members, but a recent study by Fidelity Investments found that attitudes toward taboo wealth topics are shifting.

Fidelity’s State of Wealth Mobility study found that 56% of Americans didn’t discuss family finances with their parents when they were children. Of that group, 82% wish that they had, because they think it would’ve been beneficial to have received a financial education at an earlier age.

It also found that Americans’ attitudes to those talks are changing, with 83% of respondents saying that it’s important to talk about money management with children, and 67% of parents already talking to their children about family finances.

“Money and wealth is one of the topics that, notoriously, we just don’t like to talk about historically,” David Peterson, head of advanced wealth solutions at Fidelity Investments, told FOX Business. “Wealth is like a deeply personal experience, so in some respects, it’s …

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