Caring for Caregivers Episode 14
Episode Summary
Women are more than twice as likely than men to become caregivers at some point in their lives. The demands of caregiving can often interrupt—or put an end to—a woman’s career, affecting her income, her savings and her future retirement security. In this episode of the Retirement Repair Shop, Liz O’Donnell, author and founder of Working Daughter, a community for women balancing eldercare, careers and more, discusses how financial advisers can support and guide female clients as they juggle their caregiving responsibilities.
Episode Notes
- 02:00 – Background on Liz O’Donnell’s elder care experience – what happened, what it meant for her earnings potential
- 05:30 – A first experience with a financial advisor and how it went wrong vs. why a second experience was better
- 12:00 – Guidelines for FAs when working with caregiver clients and the role the FA can play in coordinating
- 19:30 – How modern technology can help FAs in these situations, e.g. Zoom
- 24:30 – Connecting with the other professionals who support caregiver clients
- 28:30 – What goes into selecting a care facility
- 35:30 – Affording a care facility
- 41:45 – COVID-19 effect
- 44:30 – Approaching the discussions around this topic
This episode is sponsored by Transamerica
For more information, and tools on how you can support female clients on their journey to and through retirement visit www.transamerica.com/women-and-investing
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