Family Conversations on Aging Financially with Mike Stith (Ep. 4)

Family Conversations on Aging Financially with Mike Stith (Ep. 4)

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Aging gracefully involves more than health—it requires financial clarity and confidence.

This week on JubilAge, host Carol Chiarito is joined by Mike Stith, a retiree and hands-on caregiver for his 85-year-old mother-in-law. Together, they tackle the barriers seniors face in achieving financial peace, such as fear of market fluctuations and reluctance to involve family in financial decisions.

Mike shares his personal experience and introduces the “three buckets of money” framework—a simple but powerful tool for balancing long-term stability, emergency preparedness, and personal enjoyment.

Whether you’re a financial advisor, a family member, or a senior yourself, this episode provides actionable strategies to break the silence, address financial anxieties, and foster trust through inclusive conversations.

Key Highlights:

  • Master the “Three Buckets” Approach: Simplify resource allocation into retirement, emergency, and enjoyment funds
  • Build Financial Transparency: Strategies for breaking generational silence around money conversations
  • Empower Advisors: How financial professionals can create family-friendly environments to tackle long-term care and financial goals
  • Overcome Barriers: Addressing challenges like hearing impairments, market fears, and isolation in financial decision-making
  • Start Small, Think Big: Practical steps for families to introduce essential topics like wills, trusts, and care plans
  • And much more!

Resources:

Connect with Carol Chiarito:

Connect with Mike Stith:

About Our Guest:

Mike Stith is a retired professional turned caregiver who offers firsthand insights into seniors’ financial challenges. His personal journey highlights the importance of compassionate, family-inclusive financial planning.

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