In this episode of Healthcare Redefined: Advocating for Aging Adults and Their Families, hosts Pam Dunwald and Linda Kritikos continue Season 2 with an essential conversation about financial planning for aging adults and family caregivers. Joined by Certified Financial Planner™and Wealth Management Advisor Dave Czarnecki, they discuss why financial planning is about much more than money; it involves protecting independence, preserving dignity, reducing family stress, and creating options for future care. The discussion explores common planning mistakes families make when they wait until a crisis occurs, how to organize important financial and legal documents, and why proactive planning helps aging adults maintain greater control over future decisions.
Dave also provides a practical overview of long-term care planning and long-term care insurance, including when to begin researching coverage, common misconceptions about Medicare and long-term care costs, and the importance of having a strategy to fund future care needs. Throughout the conversation, Pam, Linda, and Dave emphasize that getting your affairs in order does not have to happen all at once. Small, consistent steps taken today can help families avoid financial regret, reduce conflict, and create a smoother path through caregiving, health challenges, and care transitions.
Key Moments:
00:00 – Season 2 Begins: Why Financial Planning Matters for Aging Adults
Pam and Linda introduce Season 2 and explain why proactive financial planning is an essential part of aging well and reducing future family stress.
01:43 – Meet Dave: Certified Financial Planner™ and Fiduciary Advisor
Dave shares his professional background and explains what it means to serve clients as a fiduciary advisor.
03:23 – Starting Financial Planning with Family Goals and Priorities
Learn why financial planning should begin with your values, lifestyle goals, caregiving preferences, and family priorities—not just numbers.
05:13 – Costly Mistakes Families Make When They Delay Planning
Dave discusses how waiting until a crisis occurs can limit options, increase costs, and create unnecessary stress for families.
07:45 – What “Getting Your Affairs in Order” Really Means
Discover the key components of organizing financial, legal, and personal information before an emergency happens.
10:04 – Essential Legal and Financial Documents Every Family Needs
Dave outlines the critical documents every aging adult should have in place, including powers of attorney, wills, trusts, and advance directives.
13:02 – How to Start Difficult Conversations with Aging Parents
Practical tips for approaching sensitive planning discussions in a way that feels supportive rather than threatening.
14:57 – Three Simple Steps to Begin Planning Today
Dave shares three practical actions listeners can take right away to start organizing important information and creating a plan.
16:19 – Supporting Aging Parents Without Taking Over
Learn how adult children can offer assistance while still respecting a parent’s independence, dignity, and decision-making authority.
17:58 – Documents and Information to Gather Before an Emergency
A checklist of the financial, medical, legal, and contact information families should keep readily accessible.
19:18 – Long-Term Care Insurance Explained
Dave provides a clear overview of what long-term care insurance is, what it covers, and how it can help fund future care needs.
22:19 – When to Consider Long-Term Care Insurance
Find out why timing matters and why many professionals recommend exploring long-term care insurance before health issues arise.
24:03 – Common Myths About Long-Term Care Insurance
Dave addresses common misconceptions, including assumptions about Medicare coverage and the affordability of long-term care insurance.
25:40 – Building Long-Term Care into Your Financial Plan
Learn how long-term care planning fits into a broader strategy that includes finances, legal planning, and care coordination.
27:15 – Reducing Stress During Health Changes and Care Transitions
Discover how advance planning can help families navigate illness, hospitalization, and caregiving transitions with greater confidence.
29:12 – What If You Feel Like You’ve Waited Too Long?
Dave offers encouragement and explains why it is rarely too late to take meaningful steps toward better planning.
30:03 – Preserving Independence, Choice, and Dignity
A discussion about how thoughtful financial planning helps aging adults maintain control over future care decisions.
32:40 – One Action Step: A 30-Minute Document Inventory
Dave’s simple challenge for listeners: spend 30 minutes gathering and organizing important documents this week.
33:02 – What Avoiding Financial Regret Looks Like
Real-life examples illustrate how preparation can help families avoid unnecessary financial losses, conflict, and rushed decisions.
34:38 – Building Your Professional Planning Team
Dave shares the value of working with trusted professionals, including financial planners, elder law attorneys, nurse advocates, and care experts.
About Dave Czarnecki, CFP®, CLU®, ChFC®, CAP®, RICP®, WMCP®, CLTC®:
As a Wealth Management Advisor with Northwestern Mutual in Milwaukee, WI, Dave works with clients nationwide through virtual consultations. His team specializes in comprehensive financial planning for entrepreneurs and tech industry professionals, focusing on equity compensation diversification strategies.
He primarily assists closely held business owners and highly compensated tech professionals. His goal is to simplify the complexities of equity compensation, including RSUs, ISOs, ESPPs, stock options, and concentrated stock positions, through personalized planning that supports long-term financial freedom and optimizes tax efficiency.
With nearly a decade of experience, Dave has guided a diverse array of clients through major milestones such as scaling businesses, liquidity events, promotions, and retirement. Whether designing stock diversification plans, implementing tax-efficient strategies, or preparing for a business exit, he helps clients align their wealth with their goals.
He holds multiple professional designations, including CERTIFIED FINANCIAL PLANNER™, Chartered Life Underwriter, Chartered Financial Consultant, Chartered Advisor in Philanthropy, Retirement Income Certified Professional, Wealth Management Certified Professional, and Certified in Long-Term Care. Dave graduated from Ripon College with a degree in mathematics and minors in economics and computer science. Outside of work, he lives in Waukesha, WI, with my wife and 3 children, and enjoys exploring the Greater Milwaukee area, coaching my children’s sports teams, camping, and playing tennis & golf.
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