My son has plans for when he becomes an adult. They include marrying a girl named Suzie (we currently do not know any Suzies, but I am accepting applications for his future wife), getting a house down the street from ours (with a trampoline and waterslide inside), and getting two jobs (one at NASA and one as a dolphin veterinarian, but not a marine biologist) so he can make lots of money.
I have asked my son what he plans to do with all the money he will earn, and he said that he would need it so we could all take trips together. This makes me happy - both because my son wants to spend time traveling together and because he plans on paying for it.
My son - even though he is little - has the same "take care of family" mindset that many children have about their parents. Much to the older generation's surprise, children are more than willing to help out their aging parents financially.
That's the good news.
The bad news is there are lots of conversations children are not having with their parents around financial planning, estate needs and long-term care needs.
But, hey, you have to start somewhere, right?
Are you willing to help your parents financially as they get older? Tell me in the comments.