Aging parents present unique challenges, especially for the sandwich generation, who juggle caring for their parents while raising their own children. In this episode of Off the Wall, Dean Catino, CFP®, CPWA, and Jessica Gibbs, CFP® speak with Catherine F. Schott Murray, a Shareholder and expert in Estate Planning, Tax, Estate and Trust Administration, and Elder Law at Odin, Feldman, & Pittleman.
[00:50] Introducing Joy Lere & The topic of today’s episode.
[02:22] How our understanding of money early in life impacts our adulthood.
[06:38] At what age do kids start understanding conversations about money?
[08:40] Families develop unspoken rules about finances. How do these shape your financial behaviors?
[10:39] Why is creating and sticking to a wealth plan so hard for me? & How to overcome the lack of motivation and drive to start a wealth plan.
[14:19] A skilled financial advisor understands the psychology of money.
[15:25] The importance of sticking to your values and defining financial well-being for yourself.
[20:09] How to focus on your present financial well-being AND your future wealth, even after financial trauma or feelings of scarcity.
[24:20] How to choose a trustworthy financial advisor.
[31:50] When to listen to (or ignore) your survival instincts when making financial decisions.
[34:01] How to test whether or not your financial advisor has good intentions.