Season 3, Episode 20 – Show Notes and Resource Links

January 16, 2023

By Sherri Snelling

Comments

Financial Wellness Month, Harvard Study & New Book on Living Longer, Hugs for Health

Sherri Snelling, corporate gerontologist and “Caregiving Club On Air” podcast host kicks off 2023 and Season 3 with a focus on January Financial Wellness Month and a time for new beginnings with two great guests:

Marc Schulz – co-author of “The Good Life – Lessons From the World’s Longest Scientific Study of Happiness” who along with Robert Waldinger is the co-director of the Harvard Adult Development Study. For 85 years researchers have been examining what makes some people live longer, healthier and happier. As one of the current research directors, Marc will tell us the secrets to living the good life (hint: it has to do with your relationships) from the research captured in the book out this month.

Cynthia Hutchins, Director of Financial Gerontology for Bank of America talks about a new study she has done with the University of Pennsylvania on caregiver financial well-being. She shares tips on shaping up your financial wellness for 2023 and beyond and especially how families can plan ahead for caregiving costs.

Cynthia Hutchins, Director of Financial Gerontology – Bank of America

Caregiver Wellness News and Well Home Design News

Since January is Financial Wellness Month and that is one of our 7 elements of wellness for caregivers, a survey done a few years ago showed 60% of family caregivers want help managing LTC planning for themselves and to help an older parent or grandparent. Yet, a recent study from Stanford Longevity Center showed:

Only 1 in 10 respondents reported being very comfortable regarding their finances
Over half (55%) responded that their understanding was either fragile or minimal.
72% reported that they rely on their “own instincts”
Another recent report – this one from TransAmerica Center for Retirement Studies found that members of this generation have a median of $162,000 across all of their retirement savings accounts. If you look at the Cost of Care Survey from Genworth on LTC costs – average $162-324K for 3 years – not enough.

Me Time Monday Wellness Hack

As always, we end our episode with our Me Time Monday Wellness Hack. This one is how hugs can be healing and healthful in celebration of International Hugging Day January 21. The Me Time Monday Wellness hacks are all part of Sherri’s upcoming book, “Me Time Monday – The Weekly Self-Care Plan to Balance Body, Brain and a Busy Life.”