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Private. I don't see what purpose it serves to tell anyone. My grandmother was a wealthy woman and she became distressed by my aunt frequently "borrowing" money from her.
I would share with family only. Of course my wife knows everything. My adult children (35 and 37) probably have a good idea but they don't know specifics. They both know we're comfortable financially and help them out occasionally (just recently gave each of them $10,000 gifts). And they know I'm contributing to VA529 accounts for my 3 grandchildren.
On the other hand how would you or should you ask your parents about their finances? My parents are both 85 now (divorced for many years). My dad remained fairly quickly and their still going strong. I'm the youngest of 3 brothers but I live the closest to both parents. I would expect my oldest brother to take the lead if anything happened to our parents, but since I'm the closest I expect to be heavily involved as well.
I have never asked anyone what their income/net worth is and no one has ever volunteered that information. Nor have we ever been asked. Not by friends, not by family--except for my two daughters who had to know our income in order to fill out the FAFSA form for university applications.
I haven't shared that on this board or elsewhere online, either.
Same here. It's never come up with friends or family and I can't imagine any situation where I would inquire about someone else's.
That said, for most of my working career my salary was public information. Moreover, I was required to file financial reports annually which not only delineated all of my investments, but also included each and every stock trade I made during the year as well as any outstanding loans I might have. Any and all persons had the right to request a copy of my annual financial report at any time.
I have 2 sons who are Independent and working good jobs. I have given them a general idea so basically to know I and they will be taken care of as required. And that I can afford the trips, travel and play I want to do now that I'm retired.
No one but each other. If buying a house or requesting a loan or credit card, obviously the loan officer will know. But they have a legal responsibility for maintaining privacy.
I'm not one to make a lot of friends, but the people I call friends I've known for decades. One in particular has a pretty good idea of my financial picture because we talk finances a lot. We share strategies, what we're doing and we're pretty aligned on financial moves. It's helpful to have someone to bounce off ideas.
I sometimes wish I could talk to a friend or family member about financial matters.
However, I experienced a lot of ego and jealousy from others when I attempted to do that in the past. People are very sensitive about money matters and status, at least in my social circles. It’s a taboo thing and like walking into a minefield.
My salary and bonus range are posted internally so anyone within the company would know. A few friends that are likeminded also know but it’s not something I just openly discuss with family/friends/acquaintance. Net worth doesn’t come up in conversation really at all
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