“Mommy, are we rich?”

Child and cashMy recent MSN column, “One way money is a lot like sex,” has to do with the questions our kids sometimes ask–and how much discomfort we can feel about answering.

I argue that we need to get comfortable talking about money with our children, because these are incredibly important teaching moments.

Psychotherapist Thayer Willis, who’s quoted in the column, recommended a terrific book for kids that can help these talks: “The Table Were Rich People Sit.” Here’s what Thayer has to say:

“While I would not deny the importance of money when answering the ‘are we rich?’ question, I do recommend taking every opportunity to broaden the subject and get kids thinking about additional kinds of wealth in their lives. This book is a lovely tool for that with younger children (ages 6-9).”

If your family does have substantial material wealth, I’d recommend checking out Thayer’s books, including “Beyond Gold: True Wealth for Inheritors” and “Navigating the Dark Side of Wealth: A Life Guide for Inheritors.” She’s an inheritor herself and has helped many people come to terms with can be a many-edged sword.

Friday’s need-to-know money news

Leader of business teamThe best places to work when you’re over 50, how not to support your kids for the rest of your life and tips on retiring almost tax free.

The 50 Best Employers for Boomer Workers
The fifty best employers for those over fifty.

5 Methods for Setting Retirement Targets
Strategic planning to reach your retirement goals.

5 Tips for Parents On How to Be Good Financial Role Models
Being a good financial role model could save you from supporting your kids in their 20’s and beyond.

How to Negotiate Financial Aid With Your College
Everything is negotiable; even financial aid.

3 Moves to Make Your Retirement Almost Tax Free
How to pursue as much tax free retirement income as possible.