Carroll Golden, Executive Director of NAIFA's Centers of Excellence and the Limited & Extended Care Planning Center (LECP), was recently interviewed by Bill Hortz to shed light on the often-overlooked realm of informal caregiving. With millions of Americans engaged in the care of loved ones, Golden reveals the economic and emotional challenges that persist in what she refers to as the "shadow" caregiving economy.

Golden, a best-selling author who recently released How Not to Pull Your Life Apart: Caregiving, highlights the staggering figures reported by AARP in their 2021 report, "Valuing the Invaluable," which estimates the economic value of informal caregiving at around $600 billion annually, contributed by some 38 million family caregivers. Despite such significant contributions, the financial and emotional tolls on caregivers are largely unrecognized in traditional financial planning. Golden stresses the urgent need for tools and resources to aid financial professionals in supporting caregivers to manage both the immediate and long-term challenges of caregiving.

Addressing these challenges, Golden has authored How Not to Tear Your Family Apart, provide a structured approach for financial professionals to assist families in planning for caregiving scenarios. She elaborates on a three-step roadmap designed to facilitate crucial conversations around caregiving, aiming to prevent the emotional and financial strain before it begins. Through her leadership, NAIFA is enhancing its support for professionals, offering access to a broad spectrum of resources designed to equip them to better support their clients navigating the complexities of caregiving.

Golden's insights underscore the critical need for recognizing and addressing the challenges of informal caregiving. By equipping professionals with the right tools and knowledge, Golden and NAIFA are pioneering efforts to transform caregiving into a recognized and supported component of financial planning and family life.

For the full interview and deeper insights into her effective strategies, visit Financial Advisor Magazine online.