Study finds moms have greatest influences over family finances
NBC NATIONAL NEWS — As we head into the weekend dedicated to the mothers of the world, we have discovered another critical role moms play in keeping the whole family healthy, wealthy and wise.
A new survey finds Mom's opinion is what's most important in family financial decisions.
Fidelity Investment's research shows mothers are able to communicate more easily about money and family finances than fathers.
"Moms are considered the softer of the two in the couple, the one the children find more approachable in general to have these kinds of awkward conversations where they can talk about things like healthcare and whether the parents are prepared for retirement," explains Fidelity's Kathleen Murphy.
Fidelity's study found more mothers than fathers report having had deep conversations with their adult children about estate planning, wills, healthcare and retirement expenses.
Also of note: By 2020, women will control two-thirds of the country's assets because they live longer than men.