#174 - Facing the Emotional and Financial Reality of Dying Broke

When people think of "Dying Broke," they often picture spending their retirement on memorable experiences, influenced by optimism bias. However, the harsh reality is that many will outlive their financial resources due to long-term health care costs, driven by availability heuristic and anchoring bias. The hidden and escalating fees in assisted living facilities, despite their high profitability, add to the financial stress and confusion for families, fueling emotions of frustration, fear, and helplessness. In this episode, we delve into these cognitive biases and underlying emotions, offering insights on how to better navigate the complexities of long-term care planning and advocate for systemic reforms.

A podcast that blends the nuts and bolts of financial advice with the emotions that drive our money decisions.
Join Rick Kahler, CFP®, CFT™, as he blends practical financial wisdom with the emotional insights that shape our choices. Discover how financial therapy can help you make money decisions that truly align with your values..