Caring for aging parents is something many of us will face—but few are fully prepared for the financial, emotional, and logistical challenges that come with it. In this episode, we will tackle this common scenario for Baby Boomers and discuss what happens when you're part of the “sandwich generation”—caring for both kids and aging parents.
Our question today comes from someone whose 93-year-old mom has fallen twice in the past month, and he’s weighing two options: bring her to live with him or pay for in-home care out of his own pocket. Which choice makes the most sense, both financially and for his family’s well-being?
Here’s some of what we discuss in this episode:
🏡 In-Home vs. Facility Care – What’s cheaper, safer, and more sustainable?
💸 Tax Implications & Medicaid – What you need to know before paying expenses
📉 The Retirement Impact – How caregiving can affect your financial future
⚠️ Asset Transfer Risks – Why giving away the house can backfire without a plan
For more, visit us online: http://philstaxhacks.com
Watch the video podcast on YouTube: https://bit.ly/3WdDG96
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com