Katherine Forrester Schneewind, CLU®, ChFC®, Wealth Management Advisor with Forrester & Associates in Eden Prairie, MN, joins us to discuss the financial impact of caregiving.
Many family caregivers today have to make the decision to leave the workplace temporarily or permanently to look after a family member or friend. According to Northwestern Mutual's C.A.R.E. 2017 study, 7 in 10 future caregivers expect to incur costs, but 60% percent aren't equipped to handle the financial aspects of caregiving. Before resigning, it's important to evaluate how stepping down to care for a loved one affects both short- and long-term financial goals.