08/14/2014 09:23 am ET Updated Aug 14, 2014

Tips Help Grandparents Talk Money With Grandkids

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If grandparents are nervous about having a financial version of "the talk" with their grandchildren, they shouldn't be: It turns out that 85% of kids are open to it, says a study out today.

Yet, only 8% of grandparents are likely to start the ball rolling with a conversation about money and the importance of saving for college, the study found. They're missing out on a golden opportunity to help the young people in their lives, says Joe Coughlin, director of the Massachusetts Institute of Technology AgeLab. Coughlin collaborated with TIAA-CREF on the intergenerational study, which surveyed 1,000 grandparents 50 and older and 1,003 young adults ages 18 to 24.

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