My Mother's Money: Beth Pinsker on Finances and End of Life
About this episode
Nora talks to Beth Pinsker about managing finances for aging parents and the implications of the wealth transfer from baby boomers.
If we’re lucky, we’ll all be old someday. America is gradually getting older. According to the US government, since 2001, the national median age has risen from 35.6 to 39.4. And yes, while we complain about boomers, it has to be said that attempting to retire in an economy where gas is close to $5 a gallon and a 12-pack of Diet Coke is $12 (highway robbery). According to a study by Allianz, baby boomers are the wealthiest generation to have ever lived, and account for 51.8% of the country’s total wealth. As these boomers age and – let’s say it – die – the wealth they pass down to their children and grandchildren is going to be anywhere from 68-84 trillion dollars…and unprecedented amount of money that many are calling The Great Wealth Transfer. And if that happens for some people, cool! But obviously not every boomer is rich, and many of them are passing down more generational trauma than generational wealth. In this episode of Thanks for Asking, Nora is talking to Beth Pinsker, a Certified Financial Planner and author of My Mother’s Money: A Guide to Financial Caregiving. They’re talking about finances, debt, and managing money for aging parents – something…
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