DECIDE HOW TO DEAL WITH FAMILY

“Elderly parents, financially dependent siblings, exes and stepchildren often have financial needs that can strain your relationship,” says Sue Torr of Crue Invest. “Develop a strategy for dealing with these matters.”

For example, decide in advance how you’re going to deal with elderly parents needing financial assistance, siblings asking for help when they’re having money troubles, or an ex making unreasonable financial demands.

“These kinds of questions can create feelings of resentment if you don’t address them early on,” says Soré Cloete of Old Mutual.