Thread by @TrulyTafakari

A conversation my elders had on Christmas taught me something:

My grandparents’ generation is not accustomed to being open about their finances. It’s “grown folks’ business” they keep even from their adult children, which leaves them vulnerable to predatory interests.

My mom was reading an article about reverse mortgages and how lenders especially target elderly black homeowners.

Because the elders kept their finances secret, their adult kids didn’t know about the bad mtgs til after the funeral. And lost the house. 🥺

This also applies to life insurance. A lot of folks on here gripe about people using “GoFundMe as life ins.”

But first we have to combat the cultural reluctance toward family finances discussions.

Some of our elders REFUSE to have that convo.

And another aspect we overlook:

How patriarchal norms like “dad works, mom keeps home” often leave our grandmothers in the dark as to the state of their own home/finances, because “dad always took care of the money.”

So when granddad passes, grandma is often about as knowledgeable as her kids. Which is to say, not at all.

And sometimes patriarchs do not allow their wives to be privy to that info to satisfy their ideal of providing (control).

I’m tweeting about this bc various sides of my family are living it.