My Mother's Money with Beth Pinsker, CFP®, Ep 168

Caring for aging parents is a universal experience, but for the Childfree, the dynamics are completely unique. In this episode, Dr. Jay sits down with Beth Pinsker, a CERTIFIED FINANCIAL PLANNER® and retired MarketWatch columnist, to discuss her new book,My Mother's Money: A Guide to Financial Caregiving. They share personal stories and professional insights on navigating the emotional and financial challenges of becoming a financial caregiver.Tune in to learn how to prepare for the unexpected and ensure you can care for the people you love without derailing your own financial future.Timestamps:🔹01:00 - Why being Childfree doesn't mean you're parent-free🔹02:00 - The surprising impact a parent's financial plan can have on yours🔹03:00 - The challenging question of how much help is too much🔹04:00 - Setting healthy boundaries with parents🔹06:00 - The emotional difficulty of the parent-child role reversal🔹08:00 - The stress of managing caregivers and staff🔹09:00 - Why you might want to hire a professional care team🔹11:00 - Why single women are often the best at planning ahead🔹13:00 - The hard decision of living with a parent🔹18:00 - The nightmare of dealing with banks and power of attorney🔹26:00 - Don't put your important papers in a safe deposit box🔹27:00 - The "death file" and where to put your important papers🔹29:00 - Beth's biggest takeaway from her bookConnect with Beth:🔹Beth’s website: https://bethpinsker.com/🔹Purchase her book:🔹Instagram: https://www.instagram.com/bethpinsker_ny/🔹LinkedIn: https://www.linkedin.com/in/bpinsker/Mentioned in this episode:🔹How to add a legacy contact in Apple: https://support.apple.com/en-us/102631🔹Google inactive account manager (Android): https://support.google.com/accounts/answer/3036546?hl=en🔹Childfree Trust®: https://childfreetrust.com/Connect with Us:Ready to work on building better financial habits? Connect with our financial planning team at childfreewealth.com or learn more about estate planning at childfreetrust.com.Follow Childfree Life by Design on your favorite podcast platform and join the conversation on social media:Instagram: https://www.instagram.com/childfreeinsightsFacebook: https://www.facebook.com/ChildfreeInsights/LinkedIn: https://www.linkedin.com/company/childfreeinsightsYouTube: https://www.youtube.com/@ChildfreeInsightsDisclaimer: This podcast is for educational & entertainment purposes. Please consult your advisor before implementing any ideas heard on this podcast.