Fidelity: Lack of Family Dialogue Hinders Retirement Security

A study released by Fidelity Investments revealed that the lack of conversation between parents and adult children prevents most families from feeling secure about their financial and healthcare future. The survey, called the 2026 Transition Ready Family, brought to light figures that explain the increase in searches on the topic.

Why Family Confidence Is Low

According to the research, only 37% of older adults report high peace of mind regarding the planning they've done with their family members. Even among those who have already completed retirement, health, and estate documents, more than half still feel anxious.

Communication Remains Rare

The study indicated that about one-third of parents have never had an open conversation about finances with their adult children. Only 21% of respondents shared their complete succession plan, 18% discussed retirement, and 13% talked about healthcare.

Impact of Wealth on Peace of Mind

Even among families with assets exceeding US$5 million, over 40% reported anxiety levels similar to those with fewer resources. Money, therefore, does not replace dialogue.

Benefits of Clear Conversation

Those who communicated their plans to adult children are up to three times more likely to feel highly confident. Furthermore, families that defined roles and expectations in advance showed greater transition readiness, being four times more likely to have peace of mind.

Fidelity's Recommendations

Fidelity suggests initiating small conversations, clarifying who will be responsible for finances and care, and seeking support from financial advisors who integrate investment management, succession planning, charitable giving, and tax strategies.

How Advisors Can Help

The Fidelity Center for Family Engagement offers conversation guides, coaching, and research tools to support professionals in facilitating dialogues about roles, responsibilities, and healthcare planning. This service can strengthen client relationships and reduce risks of asset loss during generational transfer.

With information from 401k Specialist, Wealth Professional.