Caregiving, Finances, and Family: ‘My Mother’s Money’ and the Hidden Costs of Care w/ Beth Pinsker (Episode 35)
Summary: In this episode of Wealth on the Move, host Will Hoffman speaks with Beth Pinsker, a personal finance columnist and author of ‘My Mother’s Money.’ They discuss the challenges of caregiving, the complexities of financial responsibilities, and the importance of having essential documents in place. Beth shares her personal journey of navigating her mother’s illness and the financial decisions that arose, emphasizing the need for open conversations about money within families. The episode highlights the emotional and practical aspects of caregiving and offers valuable insights for listeners.
Resources:
Takeaways:
- Caregiving often intertwines with financial responsibilities.
- Bad financial decisions are common in caregiving situations.
- Having essential documents like power of attorney is crucial.
- Families need to communicate openly about finances.
- Financial planning is not just about investments; it’s about life decisions.
- The sandwich generation faces unique challenges in caregiving.
- Understanding financial structures can prevent future issues.
- Storytelling can facilitate important family discussions.
- Navigating healthcare and financial systems is complex and often frustrating.
- Preparation can alleviate stress during caregiving crises.
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