Podcast appearances and mentions of carolyn mcclanahan

In this special episode recorded live at The College's Horizons 2025 conference, Lindsey Lewis, MBA, CFP®, ChFC®, managing director and chair of the American College Center for Women in Financial Services, speaks with healthcare professional turned financial educator Carolyn McClanahan, CFP® on how financial professionals can work with clients to maximize their healthcare benefits and avoid costly mistakes. They also discuss the unique challenges facing women in situations where spouses require long-term care or other financial considerations, as well as important elements to focus on in planning with clients such as Medicare/Medicaid, deductibles, tax implications, and more. Find all episodes now at TheAmericanCollege.edu/Shares.

Imagine taking a year off work, by choice, and long before your retirement.  Jillian Johnsrud, a coach who helps people take career breaks, tells us how to prepare financially.  Then, the rise of the “renting” economy. Carolyn McClanahan, certified financial planner and founder of Life Planning Partners takes us through the pros and cons of renting.  And a Vanguard study suggests that the “Great Wealth Transfer” may be a “Great Disappointment” for some young investors. Mario Cianfarani, from Vanguard Investment Canada Inc., tells us about the findings.  Plus, we'll speak with Elena Iacono, founder of LegacyNex, a platform that helps people transfer their legacy to generations to come, by looking beyond just money. To find out more about the guests check out: Jillian Johnsrud: retireoften.com | Instagram Carolyn McClanahan: X | LinkedIn | Facebook Elena Iacono: legacynex.com | LinkedIn | Instagram Mario Cianfarani: vanguard.ca | LinkedIn Bruce Sellery is a personal finance expert and best-selling author. As the founder of Moolala and the CEO of Credit Canada, Bruce is on a mission to help you get a better handle on your money so you can live the life you want. High energy & low B.S., this is Moolala: Money Made Simple. Find Bruce Sellery at Moolala.ca | Twitter | Facebook | LinkedIn

Everyday people ask themselves, should I rent or buy when it comes to finding a place to live but what about a shovel. Well nowadays you can rent just about anything. Carolyn McClanahan, a certified financial planner and founder of Life Planning Partners, joins us to talk about someone thinks through which rental decisions are right for you.  Connect with Carolyn on X, LinkedIn and Facebook.

In this final installment of our four-part retirement series, we're diving deep into the financial planning nuances specific to physicians approaching retirement. Joining us is Dr. Carolyn McClanahan, a former physician-turned-certified financial planner. With her insider's perspective, Dr. McClanahan offers invaluable insights on everything from assessing retirement needs to navigating long-term care and tax strategies. We'll uncover the often-overlooked financial aspects of retirement planning that are particularly relevant to physicians. Whether you're grappling with savings goals, long-term care costs, or unexpected expenses, this episode is your roadmap to a financially secure and fulfilling retirement.   You can find the show notes for this episode and more information by clicking here:   www.doctorscrossing.com/episode208   In this episode we're talking about: Determining how much money is needed to retire comfortably. The role of long-term care insurance and when it's necessary. Strategies for effective tax planning in retirement. Financial considerations for the “sandwich generation” – balancing support for aging parents and college-bound kids. Key estate planning tips to ensure a legacy without overspending. How to prepare for financial shifts if downsizing or relocating. Common mistakes physicians make in retirement planning.   Links for this episode: Take the next step in your career transition with our Carpe Diem Resume Kit and LinkedIn for Physicians course—now available for 50% off! This offer is only valid through Monday, December 2nd at midnight. Use the links below to unlock this limited-time discount. Carpe Diem Resume Kit - Converting your CV to a resume helps recruiters better understand why you are a great match for a specific job. My resume kit will guide you through creating a polished resume for your desired job. Templates are included as well as a bonus on writing your cover letter. Give yourself the best chance of getting that interview! LinkedIn for Physicians Course - If you'd like to learn how to customize your LinkedIn profile to make it stand out to recruiters, this course walks you through all the steps with short, actionable videos and cheat sheets for each lesson. This course takes the guesswork out of using LinkedIn! Previous installments of our four-part retirement series: Episode #204: Finding A New Path and Happiness When You Slow Down And Plan For Retirement Episode #202: Not Ready to Retire? Discover Rewarding Part-Time Physician Opportunities Episode #195: Are There Nonclinical Options For Older Physicians?  

In this episode of the AICPA Personal Financial Planning Podcast, Cary Sinnett interviews Dr. Carolyn McClanahan, a physician and financial planner, on the importance of addressing healthcare in financial planning. They discuss how health and financial wellbeing are deeply intertwined, especially when planning for long-term care, aging, and unpredictable health events. Dr. McClanahan emphasizes the importance of having early conversations about healthcare plans, estate directives, and the costs of care to ensure families are prepared. How can financial planners integrate health-related conversations into their planning process, especially when clients are reluctant to discuss their health? What steps should families take to prepare financially and emotionally for potential long-term care needs, particularly when care costs can vary significantly between home care and assisted living? Why is it essential to have conversations about healthcare directives and long-term care preferences early, while everyone is still healthy? How can families plan for the financial impact of a loved one's health event, especially when the timing and severity of such events are unpredictable? What role do tools like long-term care insurance, reverse mortgages, and hybrid life insurance policies play in safeguarding a family's financial future in the face of rising healthcare costs? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links. Podcast: The importance of addressing long-term care planning Guide: Guide to Retirement & Elder Planning: Healthcare Coverage Planning Podcast: Taxes and financing retirement healthcare This episode is brought to you by the AICPA's Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.    

BIO: Dr. Carolyn McClanahan is a physician turned financial planner. In addition to working in her financial planning practice, she speaks regularly on the interplay between health and financial issues, particularly regarding aging, chronic illness, end-of-life, long-term care, health care reform, and health care costs.STORY: Carolyn lost a good chunk of her portfolio while doing active management.LEARNING: There's nobody out there who can be consistently smart to beat the market. Know your money goals. Be careful of overconfidence bias. “We (doctors) think just because we're smart at medicine, that we can beat the market, we can pick the best investments, and get rich.”Carolyn McClanahan Guest profileDr. Carolyn McClanahan is a physician turned financial planner. In addition to working in her financial planning practice, she speaks regularly on the interplay between health and financial issues, particularly regarding aging, chronic illness, end-of-life, long-term care, health care reform, and health care costs. She is an Investopedia Top 100 advisor, serves on the CNBC Financial Advisor Council, and writes for various publications. She is quoted regularly in the Washington Post, New York Times, and CNBC.Worst investment everCarolyn started experimenting with investing in the 90s when she was in her 30s. Her husband inherited a little money from his parents, and they invested it. The investment did super well because it was the mid-90s.Her husband didn't want to be an engineer anymore. He wanted to be a track coach and a photographer. The couple tried to find a financial planner to help them plan their finances to accommodate the husband's wishes. All the financial planners wanted to do was take over the couple's money and charge a fee to put them in a bunch of mutual funds. They didn't do actual financial planning.That's why Carolyn decided to go back to school. She did stuff like day trading along the way, which was crazy. Carolyn also became a financial planner and got to learn about mutual funds. She spent so much time picking these great mutual funds that were supposed to grow beyond everything else. She also started investigating alternative assets.The stock market crashed in 2008-2009, and Carolyn suffered a massive loss due to active management.Lessons learnedEverybody is brilliant in a different way, but there's nobody out there who can be consistently brilliant to beat the market.Know your money goals. For short-term money, invest conservatively. For long-term money, you can be more aggressive, but don't try to pick what's going to do best because you're not going to know what that is—pick the whole basket.Andrew's takeawaysActive management makes it very difficult to beat the market.Set up a passive investment account and let it grow.Be careful of overconfidence bias.Actionable adviceKnow your money goals and your time horizon, and make sure you have an investment policy statement that you follow and stick to through thick and thin, and you'll be okay.No.1 goal for the next 12 monthsCarolyn's number one goal for the next 12 months is to start her succession plan, so she's hoping to hire three new advisors, grow the practice a little more, and get ready to launch herself in the next five to 10 years.Parting words “Just live life fully every day because...

In today's episode, host Jeff Bernier, CFP®, ChFC, CFS is joined by Carolyn McClanahan, M.D., CFP® to discuss a sometimes difficult topic: preparing financially, emotionally, and physically for aging.   Carolyn's unique background offers her a different perspective. Carolyn began her career as a physician but later made a career change when she and her husband were unable to find a financial planner to provide them the advice and guidance needed to create a great life. Carolyn and Jeff dive into the big four decisions that need to be made in preparation for aging. The cost of long-term care and insurance, healthcare, and housing can be quite expensive but Carolyn shares some examples of how avoiding these decisions could be even costlier. 

What if we lived in a country that provided universal healthcare? What if we fixed our political system and changed the culture of the healthcare system? What if we planned ahead for our future?   So many Americans have become victims of financial ruin as a direct result of medical expenses. This week on the Redefining Wealth Podcast we're joined by Medical Professional and Personal Finance Expert, Carolyn McClanahan, as we unpack the many Levels to Resilience and discuss how we can collectively change the system.   Carolyn McClanahan, M.D., CFP® is a physician and financial planner, the founder of Life Planning Partners, Inc., a comprehensive fee-only financial planning company, and co-founder of Whealthcare Planning, LLC, a software company dedicated to helping our population plan for the challenges of aging.  In addition to being a contributor for Forbes, CNBC, and Financial Planning Magazine, Dr. McClanahan provides education to financial planners and health care professionals on the interplay between health and financial issues, particularly regarding insurability, health care costs, and health care reform.   Key discussion points from this episode include: From Medicine To Personal Finance - 3:45 Connections Between Health & Wealth - 6:15 Are You Happy Now - 9:30 There's Levels To Resiliency - 14:55 Set Up Your Life To Support You - 22:19 The Cost Of Health & Preventative Care - 27:30 How To Be An Empowered Patient - 35:00 Advocate For Your Family's Health - 38:35 Prepare For The Future - 44:00 Connect With Carolyn: Website: https://carolynmcclanahan.com/ LinkedIn: https://www.linkedin.com/in/carolyn-mcclanahan-24a6b015/ Facebook: https://www.facebook.com/CarolynMcC   This episode is brought to you by the Chase Purpose Not Money Merch Store, NOW OPEN 365 days a year. Clothe yourself in purpose with a fitted t-shirt or hoodie, or relax with our custom candles and mugs. Shop NOW at: https://chasepurposenotmoney.com  Levels to Resilience Takeaways   “A doctor who is a financial planner is better than no doctor at all.” - Carolyn McClanahan “We have to plan for who people are and not who we want them to be.” - Carolyn McClanahan  “It's a new day, I'm going to do the best I can for myself.” - Carolyn McClanahan “You'll do a better job at taking care of other people when you take care of yourself.” - Carolyn McClanahan “We have to fix our political system so that they have incentive to fix our healthcare system.” - Carolyn McClanahan “It's better to be proactive rather than reactive.” - Patrice Washington “Healthcare workers are good people caught in a bad culture, and we need to fix the culture of medicine.” - Carolyn McClanahan “An older person's biggest danger of financial ruin is themselves.” - Carolyn McClanahan Redefining Wealth Rapid Wisdom Questions   And with that, let's dig into Carolyn's responses to our Redefining Wealth Rapid Wisdom Questions.   Define Success: “Living everyday in love and joy.”   Define Wealth in 3 Words or Less: "Being At Peace.”    One Book that Has Helped You Redefined Wealth For Yourself: Conscious Living by Gay Hendricks   Fill-in the Blanks … “My name is ___ and the truth about wealth is ___”: “My name is Carolyn McClanahan and to me, the truth about wealth is most of it's in your brain.”  LINKS:   START HERE: https://patricewashington.com/starthere/   Check Out Our Website:  https://patricewashington.com/   Redefine Wealth For Yourself Book: http://redefinewealthforyourself.com/   Become An Official Purpose Chaser: https://www.facebook.com/groups/redefiningwealthcommunity/?ref=bookmarks   Find Me On Social Media: Our podcast hashtag is #RedefiningWealth   Instagram: @SeekWisdomPCW https://www.instagram.com/seekwisdompcw/   Facebook: @SeekWisdomPCW https://www.facebook.com/SeekWisdomPCW/  

The Team Approach to Financial Wellness Episode 158 Financial wellness is the state of being where you can meet your current and future financial obligations, feel secure in your financial future, and make choices that allow you to enjoy life. It is about money, but more. It is about feeling comfortable and at peace with your financial decision-making, and sometimes involves working with a financial planner and a wealth psychology coach. In today's episode, I talk with Carolyn McClanahan, CFP® and founder of Life Planning Partners, about how we collaborate together to increase the financial well-being of our shared clients. Carolyn worked as a physician before she became a financial planner and discusses the similarity between medicine and financial planning. And I worked as a mental health counselor for 15 years, before opening up my business. We both believe a team approach is just what the doctor ordered when it comes to financial wellness.               Listen to this podcast and discover: The value of the team approach to enhancing financial wellbeing Why some advisors are resistant to working with wealth psychology coaches (or financial therapists)  The boundaries of financial planning vs. wealth psychology coaching  The signs that tell a planner it's time to make a referral  How working with other planners and coaches fosters self-awareness and personal growth - for you and the clients Book and organizations mentioned in the podcast: Fierce Conversations by Susan Scott  NAPFA  XY Planning Network  Alliance of Comprehensive Planners  OTHER WAYS TO ENJOY THIS POST: Listen on Google Listen on Amazon Listen on Stitcher Subscribe on iTunes Listen on Spotify Join Breaking Money Silence on Facebook KBK Connection, Inc., is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com Recent Posts The Team Approach to Financial Wellness | Episode 158 How Financial Life Planning Improves Financial Literacy | Episode 157 A Podcast Even Your Mother Would Love | Episode 156 The Power of Podcasts to Educate | Episode 155 Fintech Takes on Financial Literacy | Episode 154 Be a Financial Literacy Changemaker | Episode 153 Teaching Teens About Money | Episode 152 Entrepreneurship: A Leap of Faith | Episode 151 Being Well-Behaved Might Hurt Your Career | Episode 150 #BreaktheBias | Episode 149 Men and Retirement | Episode 148 Take Control of the Purse Strings | Episode 147 Money, Will You be My Valentine? | Episode 146

This week Brent and Rachel chat with the incredible Carolyn McClanahan, M.D., CFP, about how to protect our loved ones and clients from Elder Abuse.Continue reading

This week Brent and Rachel chat with the incredible Carolyn McClanahan, M.D., CFP, about how to protect our loved ones and clients from Elder Abuse. We focus on the financial side of things. The conversation gets into discussing the issue, its prevalence, and practical ways it can be addressed. Carolyn focuses on financial planning. She completed her undergraduate degree at Mississippi University for Women, medical school at the University of Mississippi, and residency in Family Medicine at Virginia Commonwealth University. In 1998, she was recruited to teach on faculty at the University of Florida, Shands, Jacksonville.  Carolyn is a member of the National Association of Personal Financial Advisors (NAPFA), the Financial Planning Association, and the American Academy of Family Physicians. She volunteers as a physician with Volunteers in Medicine Jacksonville, providing health care for the working uninsured. Carolyn speaks nationally to financial planners and physicians on the interplay between health and financial issues. She serves on the CNBC Financial Advisor Council and has been quoted in numerous publications, including the Wall Street Journal, Washington Post, and New York Times. She has appeared on CNBC, Hardball, and NPR. You can find Carolyn at https://www.lifeplanningpartners.com/ and on Twitter @CarolynMcC.

In this episode, Carolyn shares how being a medical doctor influenced her decision to operate a holistic based and flat fee practice, and why healthcare costs, end of life planning and elder fraud are essential topics advisors should be discussing with their clients TODAY.  Plus her lists of “promises” to her clients and how it leads to a JOYFUL practice.  

Reshma Kapadia, associate editor at Barron's, and Carolyn McClanahan, founder of Life Planning Partners, discuss what health care provisions could survive Congressional wrangling and how to plan for aging in place and home health care.

We hear comparisons between financial well-being and physical well-being all the time. Well, Carolyn McClanahan is proof that these two domains are highly related. In this episode, we tap the breadth of experience that McClanahan has as a medical doctor AND financial planner. We explore:  Her journey with health and finance The value of having hard conversations Planning for who people are, not who they want to be A big mistake advisers make with clients A simple question she teaches advisers to ask that makes sharing EASY Achieving growth through hiring (and when should you hire)  Leveling up through coaching Creating opportunities with the media You can find out more about Carolyn at carolynmcclanahan.comThis episode was brought to you by:Snappy Kraken: helping financial advisers create meaningful connections that drive business.Recommended Book:Fierce Conversations by Susan Scott

Are you one of the many that are being held back from early retirement by the exorbitant cost of health insurance? If so, you won't want to miss this episode. This week's retirement headline comes from Carolyn McClanahan at AdvisorPerspectives.com and it outlines the enhanced health insurance subsidies that stem from the American Rescue Plan (ARP).  You'll want to stick around for the listener questions segment if you are a fan of retirement podcasts. I have a treat for you all as I crowdsource the answer to John's question about asset location. Listen in to hear 4 different answers from voices that you may recognize. Outline of This Episode [2:12] Could the American Rescue Plan be the answer to your health care before Medicare question? [5:05] What do you need to do to act? [8:49] An asset location question from John [10:01] Peter Lazaroff's answer [12:02] Roger Whitney's answer [15:45] Taylor Schulte answer [18:44] Chad Smith's answer Could the ARP be the answer to your health care before Medicare question? The number one issue that holds back potential retirees from retiring early is how to find affordable health care before Medicare. If this sounds like you, then the American Rescue Plan may have the solution that you have been waiting for. Carolyn McClanahan's article is geared toward financial advisors, but we'll take a look at it and see if the ARP could help you solve this common problem.  How can the ARP help lower the cost of health insurance? With the ARP, you may now be eligible for enhanced health insurance subsidies. The Affordable Care Act (ACA) subsidies have been limited to those with a modified adjusted gross income (MAGI) of less than 400% of the poverty level. However, the ARP has lifted these levels with a credit that is based on the cost of the second-cheapest silver plan available in any person's given area. Unlike the previous credit under the ACA, it isn't suddenly wiped out when someone's income jumps over the income limit. Instead, it is phased out gradually. What do you need to do to qualify? To qualify, you must purchase your health insurance via www.healthcare.gov. The open enrollment period lasts through August 15, and the tax credits apply only for the months a person is using a plan from the ACA. Therefore, the sooner you apply, the more savings you will receive. Additionally, anyone who has received even one week of unemployment benefits in 2021 and is without access to affordable insurance through a family member will qualify for a silver plan at no premium cost. They also will qualify for cost-sharing subsidies to help lower their deductible. You can utilize the calculators at www.healthcare.gov or the Kaiser Family Foundation to determine your tax credit amount. States that have opted out of the healthcare marketplace may operate differently, so you'll want to work with a local health insurance agent to help you navigate the process.  The ARP also offers COBRA subsidies If you lose employer-based coverage due to job loss or reduction in hours, the ARP provides COBRA premium subsidies from April 1 to September 30, 2021. After that, you can continue coverage at full cost. It is important for you to weigh whether you should accept this benefit or choose an exchange-based plan. Will take advantage of the benefits offered in the ARP to retire early? Resources & People Mentioned Article from AdvisorPerspectives.com www.healthcare.gov Kaiser Family Foundation IRS Coronavirus Tax Relief Retirement Podcast Network BOOK - Making Money Simple by Peter Lazaroff PODCAST - The Retirement Answer Man with Roger Whitney PODCAST - Stay Wealthy with Taylor Schulte PODCAST - Financial Symmetry with Chad Smith Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify

In today’s episode of Framework, Jamie Hopkins talks with Dr. Carolyn McClanahan, the founder of Life Planning Partners, about the importance of asset allocation, educating your clients so they know how their portfolio is likely to perform, and how to have confidence in a portfolio’s ability to deliver, even in a bear market.  You can find show notes and other information at CarsonGroup.com/Framework.

Carolyn McClanahan, founder of Life Planning Partners, Inc., on what health care policy may look like under President Biden and how it will affect you.

When physician Carolyn McClanahan tried to find a financial planner several decades ago, she only encountered investment managers and glorified salespeople. However, these experiences led her to fall in love with financial planning. She’s now the Director of Financial Planning at Life Planning Partners in Jacksonville, Florida. She has been quoted in numerous publications, including The Wall Street Journal, Money, Kiplinger’s, Smart Money, and has appeared on CNBC and NPR. In 2009 she was named a “Mover & Shaker” in the financial planning profession by Financial Planning. Carolyn brings a unique perspective and approach to our industry, especially when it comes to retirement and the role it plays in living a happy, sustainable, and fulfilled life. Today, she joins the podcast to share the story of her unique journey into the world of financial services, why the best financial planners need to be able to talk about their clients’ health, and how anyone can become a better use of our healthcare system. Show Notes: RetireWithPurpose.com/149 Rate & Review the Podcast: RetireWithPurpose.com/review Weekly Retirement Newsletter: RetireWithPurpose.com/weekend-reading

Carolyn McClanahan, who is both a medical doctor and a CFP professional, specializes in the intersection of health and money. She joins the show to chat about leveraging this opportunity to introduce or expand conversations with clients around health and estate planning, reviewing insurance coverage and how her approach to projecting life expectancy has evolved through the years. Carolyn also cuts through the mixed messages and misinformation surrounding COVID-19 and reminds us that science takes time and that science is messy. Links, show notes and timestamps at https://innovatingadvice.com/post/episode51. Humans Under Management virtual event happening 8th September: https://bit.ly/IAHUM2020 Tickets: R500, US$30, £23, AU$42. Join the Global Community | Connect with Kate on LinkedIn

Today we welcome Carolyn McClanahan, M.D., CFP®, Founder of Life Planning Partners to the In the Suite guest chair for this special bonus episode on Coronavirus. Carolyn was one of the few financial planning professionals to read the COVID-19 tea leaves back in 2013—calling it the next black swan.In this episode, Carolyn provides valuable insights about the virus from her earlier work in medicine with Complex Adaptive Systems, virology, and immunology. From the financial planning perspective, she shares the keys to managing your family through a global health and economic crisis, practical keys to staying safe, and effective strategies for creating resilience over the long-term.

Financial planners are sort of like money doctors - but what if your planner actually was a physician? That’s the unique biography of my guest on the podcast this week - Dr. Carolyn McClanahan. Carolyn is a physician turned financial planner. She became interested in planning when her husband inherited some money - and wanted to make some career moves that would require him to accept a lower income. The couple set out to find some financial planning help, but they were dissatisfied by what they found.One thing led to another, and these days Dr. McClanahan runs her own financial planning practice in Florida, called Life Planning Partners. She also has emerged as a leader in the planning profession, in part because of her unusual blend of professional expertise. Carolyn speaks and writes regularly at conferences and writes for Forbes and Financial Planning Magazine. You can find her quoted regularly in the Washington Post, New York Times, CNBC, and NPR; I have turned to her for insights in plenty of stories I’ve written in recent years. Dr. McClanahan brings a fresh, provocative perspective to a range of topics where health and financial issues intersect - everything from chronic illness to end of life, long term care, health care reform, and health care costs. I asked Carolyn to tell the story of her unusual journey from practicing medicine to providing financial advice. We also talked about how the financial planning field has changed over the past two decades, how she thinks about health - and health care expenses - in the context of retirement plans, and how to select Medicare plans. Finally, I asked Dr. McClanahan for her thoughts on health care reform and proposals for Medicare for All. Listen to my conversation with Carolyn McClanahan by clicking the player icon at the top of the newsletter. You also can access the podcast on Apple Podcasts, Spotify and Stitcher.New guide: How to time your retirementIf you’re a paid subscriber to the newsletter, you know I’ve been publishing a series of guides on key retirement topics. The latest was just issued last week - a guide on timing retirement decisions. This can be a really important inflection point for your financial success in retirement, so it’s worth thinking about carefully.The last years of work usually are peak earning years. And working even a few years more years - or less - will impact your retirement math significantly. Your timing affects the number of years that you’ll rely on savings to meet living expenses. It impacts the number of years that you can contribute to retirement saving accounts. And perhaps most important, working longer helps sets the stage for a delayed Social Security claim. That’s because it provides the income you need to meet living expenses while you wait to file.But setting a retirement target date and sticking to it can be very difficult . . . even risky.About one-third of workers tell pollsters they plan to work well past traditional retirement age, or not retire at all. But the data also tell us that about one-third of workers retire earlier than expected - and that the farther out you push your target date, the less likely you are to work to that date.The most common causes for unexpected early retirement are health problems and job loss. But the study uncovered clear reasons for unplanned early retirement only in about one-quarter of cases.Other reasons are more difficult to measure. The pull of leisure activities and time with family are factors, along with possible age discrimination. But the quality of work also matters.The guides are downloadable, quick reads, each paired with a podcast interview on the subject at hand. My aim is to create a series of just-in-time retirement education modules - read the guide, listen to the podcast and you’re good to go. The series already includes guides on claiming Social Security, transitioning to Medicare and how to hire a financial planner. Becoming a subscriber is easy - to sign up, click the little green button at the bottom of the newsletter page, or visit my website to learn more. The subscription price is just $5 month, and you can cancel easily at any time if you’re not happy. Once you subscribe, you’ll have access to the entire retirement guide series, including this new one on retirement timing. Plus, you’ll get links to all the articles I publish for Reuters, The New York Times, Morningstar and Wealthmanagement.com. I also publish links to the most interesting new research in the field, and links to work by other journalists that I find compelling. Finally, you’ll be supporting independent, unbiased journalism. Thanks for listening - and I hope to see you over on the subscriber side soon.Can you pass this Social Security quiz?My column for WealthManagement.com this month is a quick, fun quiz on Social Security basics. It’s written with financial planners in mind, but I encourage everyone to take a spin and see how you do. Among the questions:Everyone’s working longer—right? So, what is the average age that Americans file for Social Security? What’s the better deal—filing for Social Security early or delaying a claim past full retirement age (FRA)?Are the pre-FRA reductions equal to the post-FRA credits? Will your Social Security retirement benefits replace the same amount of pre-retirement income for my clients in 2035 as they do today?Good luck!Where else can you find the podcast?The podcast always is embedded in the newsletter (free and for subscribes). You also can find it on several of the most popular podcast platforms, including Apple Podcasts, Spotify and Stitcher.If you do subscribe there, please leave a rating and comment to let me know what you think - it’s an easy way to help build the program’s audience. This is a public episode. Get access to private episodes at retirementrevised.substack.com/subscribe

Part two of our interview with Dr. Carolyn McClanahan, a medical doctor who became a certified financial planner. We touched on a cross section of healthcare and planning topics: 00:23 Which Senator killed the public option? 01:48 Importance of the public option 02:10 Elisabeth Rosenthal book How Health Care Became Big Business and How You Can Take It Back 04:25 Ideas for fixing healthcare 5:16 Origin of “ObamaCare” 06:11 Ted Kennedy and healthcare 06:35 Nixon had a good healthcare plan 08:24 The craziness of employer based healthcare 09:56 Is Long-Term Care Insurance worth it? 11:44 The Big Four of Aging 15:44: "Primary Care for All!" 19:58 Aging parents and healthcare Time to Expand Community Health Carolyn McClanahan, MD, CFP® Meridian Wealth Management 403bwise.org

We talk to Dr. Carolyn McClanahan, a medical doctor who became a certified financial planner. She discusses the intersection of health and personal finance and her firm's unique approach to planning: focusing on the here and now.     Carolyn McClanahan, MD, CFP® Meridian Wealth Management 403bwise.org 403bwise.org Facebook Group

In the world of financial planning it’s common for people to focus too much on the future and not enough on the present. If people aren’t happy with not only their financial well-being but also their life in general, they’re going to be more likely to spend money frivolously.  Join is as Carolyn McClanahan, M.D., CFP® talks to us about the importance of happiness when it comes to financial planning as well as tips on insurance and age planning. Join a group of like minded individuals on their journeys to change the complexion of wealth one step at a time! Minority Money Community Minority Money Facebook

“You’re either growing or dying.” How many times have you heard that chestnut? Too many! But what if you decided you didn’t want to grow? What if you decided you’d be happy at the current size of your business and just add new clients when an existing client leaves or passes away? Does the thought of that idea make you vomit or is it liberating? If you decide it’s all about growth, what are you willing to sacrifice to scale? My guest today, Carolyn McClanahan recently decided her practice was “big enough” with 100 families and she has now closed her firm to new clients. Carolyn is the Director of Financial Planning at Life Planning Partners in Jacksonville, FL and she has a fascinating background. She's actually a M.D. who decided to become a CFP® after she and her husband couldn't find a financial planner who provided the kind of life-planning advice that they really wanted. After she opened her own firm in 2004, Carolyn split her time between advising some of her doctor buddies and treating patients as an emergency room doctor. In our conversation, we discuss how Carolyn replaced the old “big book” financial plans we all remember with a more personal, goals-based narrative approach. She also talks about her unique fee structure of pricing based on complexity, and we discuss how she concluded that 100 families was the optimal size for her practice.

Dr. Carolyn McClanahan - Founder Life Planning Partners. Topics: Healthcare planning, investment advice, financial planning

In this week’s podcast, our analysts talk about three great funds having a lousy year; special guest Mary Beth Franklin discusses the clever Social Security strategy that’ll be phased out next year; Debbie Wang puts LabCorp under the microscope; Christine Benz talks with special guest Carolyn McClanahan about planning and paying for long-term care; Alex Bryan shares three off-the-beaten-path ETFs; and RJ Hottovy examines Amazon’s future beyond Prime Day.

In this week’s podcast, our analysts share three funds run by topnotch managers, Christine Benz talks with Healthcare Planning’s Carolyn McClanahan about finances and cognitive decline, Linda Abu Mushrefova with a terrific deep-value large-cap fund, Preston Caldwell highlights a few undervalued oil-services stocks, Russ Kinnel shares three of his favorite small-cap funds, and Michael Wong explains why we think Goldman Sachs has 30% upside potential.

Our guest for this week's installment of The Long View podcast sits at the busy intersection of healthcare and financial planning. Carolyn McClanahan was a practicing physician for a number of years, but after a frustrating search for a financial planner for her and her husband, she decided to study financial planning and earned the CFP designation. In 2004, she founded financial planning firm Life Planning Partners, and serves as the firm's director of financial planning. She also co-founded Whealthcare, a software program that identifies and troubleshoots age-related financial risks. Carolyn strongly believes that individuals and financial advisors should think proactively about the implications of aging for healthcare and financial planning. She is also sought-after as a public speaker and a media expert on matters of aging, healthcare, and personal finances. Show Notes The quest for real advice: How a "math nerd" found her way to medicine and eventually sought financial advice (1:12-3:32) Frustrated: How disappointing experiences with financial advisors spurred Carolyn to pursue a career in financial planning (3:33-4:56) "It worked beautifully": Why Carolyn decided to charge flat fees for her planning services instead of taking a percentage of client's assets (4:57-6:50) "It's a lot harder": Carolyn explains why the flat-fee model isn't more commonplace, how they determine the right fee for each client, and why it makes economic sense (6:51-8:44) An "ensemble model": How Carolyn built her practice and how she hones her focus (8:45-13:01) A piece, not the whole pie: The role investments play in a client's financial plan (and how to avoid expectation gaps) (13:02-14:43) The healthcare spending conundrum: "We spend so much money on end-stage healthcare that really doesn't help anybody." (14:44-17:39) Heal thyself: "We're going to start seeing lawsuits from employees…about employers not being good purchasers of (health) insurance" (17:40-19:35) Primary care as a public service: Carolyn's ideal healthcare system puts community health centers at its core (and removes primary care from insurance coverage) (19:36-22:35) How to address the big-four "aging planning" issues: When to stop driving, when to move, when to get help with financial decisions, when to get help with healthcare decisions (22:36-26:02) How to take the keys away: Addressing the issue of aging parents who shouldn't be driving anymore (26:03-28:08) Bringing the family together: "90% of fraud and abuse is done by people close to you" (28:09-30:36) "It's been a beautiful thing to use": How Carolyn employs "engagement standards" to align expectations and ensure clients commit to the plan (30:37-32:42) Cognitive decline: "A client's biggest risk to their financial security is actually themselves" (32:43-34:33) How to plan for healthcare spends: Live healthy, work as long as you can, reflect on how you use healthcare (34:34-37:52) Whealthcare: A programmatic attempt to project and plan for healthcare costs (37:53-39:02) A construct for long-term care planning: "People who are very healthy are going to have a longer long-term care need; people with dementia have an average long-term care need; if you're very unhealthy you don't have to worry about long-term care." (39:03-42:10) Paying for long-term care: Carolyn suggests setting aside a "bucket" of money to self-fund long-term care, which avoids problems with acceptance into nursing facilities and complexity of long-term care insurance (42:11-45:20) "There's more to money than just the numbers": Why hybrid long-term care insurance isn't usually a good answer, but sometimes piece of mind makes up for its opportunity costs (45:21-47:45) How to avoid cognitive decline: It's not all hereditary, so learn as much as possible and live a healthy lifestyle (47:46-50:31) Other ways to anticipate and manage cognitive decline: How a checklist helped a client determine he was suffering a series of mini-strokes (50:32-53:29) References Caroyln McLanahan bio Whealthcare National Association of Personal Financial Advisors (NAPFA) Employee Benefit Research Institute

Welcome back to 5 Minute Friday! On this episode, you will hear how a health scare forced Dr. Carolyn (Episode 102) to realize her mortality and never allow fear to hold her back.

Today’s guest can not only save a patient’s life, but also advice on how well diversified the patient’s retirement portfolio is. Okay, maybe this is an exaggerated example, but it’s really not that far from the truth. She is Dr. Carolyn McClanahan, Director of Financial Planning at Life Planning Partners, a fee-only financial advisory firm. She completed her undergraduate degree at Mississippi University for Women and medical school at the University of Mississippi. After residency in Family Medicine at the Medical College of Virginia, she entered private practice and emergency medicine practice in Richmond, Virginia. After developing a passion for In this episode, we’re going to talk about how helping her significant other’s investments turned into a passion that led to her leaving medicine and practicing full-time as a certified financial planner (CFP). We’ll also hear her thoughts on medicine’s gender pay way gap, as well as her tips for a healthy relationship with your financial advisor. To learn more about Dr. McClanahan, please visit www.lifeplanningpartners.com or you can email her at cmcc@lifeplanningpartners.com. Things you’ll learn in this episode: Going from MD to CFP How she helped her significant other with his investment The gender pay wage gap Tips for a healthy relationship with your Financial Advisor How she answers #Imnotjustadoc   Resources: NAPFA - https://www.napfa.org Inbox Zero FollowupThen

As someone who made a career transition from emergency medicine to financial planning, Dr. Carolyn McClanahan offers an insightful perspective on the evolving role of a financial advisor. In this episode, she and host Bill Coppel – Managing Director and Chief Client Growth Officer at First Clearing – discuss how advisors can guide their clients in preparing for the effects of aging and in finding what brings joy to their lives. Clients don't simply want help investing their money; they want someone to help them figure out their goals and dreams and plan for the future. Carolyn's personal experience helped her realize this need, and her medical background has helped her come up with better strategies to have conversations around health and longevity. In this episode, you'll hear: The interplays between health and finances How to initiate and lead conversations with clients about health and longevity How to help yourself and your clients find joy in their lives. As an emergency medicine physician, Dr. Carolyn McClanahan saw firsthand the negative consequences from patients and their families failing to plan. When she and her husband started searching for a financial advisor, they couldn't find anyone who could help them with more than just investing money. This led Carolyn to become a financial planner herself, incorporating her personal and professional experiences into her advising strategy. She is the founder of the boutique advisory firm, Life Planning Partners, and co-founded Whealthcare Planning, LLC to help advisors and their clients address issues related to aging. Carolyn has appeared as a guest on NPR and CNBC, and has been quoted in numerous publications. Ways to contact Carolyn: Website: whealthcareplan.com, lifeplanningpartners.com   Disclosure: This content is provided for general informational purposes only. The views expressed by non-affiliated guest speakers are their own, and do not necessarily reflect the opinion of First Clearing or its affiliates. First Clearing and its affiliates do not endorse any guest speakers or their companies, and therefore give no assurances as to the quality of their products and services. This channel is not monitored by First Clearing. For more information on our podcasts visit firstlearing.com. First Clearing is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo and Company. Copyright 2018 Wells Fargo Clearing Services, LLC. All rights reserved. First Clearing provides correspondent services to broker-dealers and does not provide services to the general public. 0918-04583

Finding Your Path to a Fresh Start - Carolyn McClanahan discusses her unconventional career path from ER physician to financial planner. Learn the steps she took to design a career on her terms and get inspired to discover your passions and make some changes of your own.   Carolyn McClanahan is a contributor to www.forbes.com You can learn more about her firm at www.lifeplanningpartners.com

Physician and financial planner, Carolyn McClanahan, is back to discuss how aging can affect financial plans and the ability to make sound decisions.  Find out how you can age-proof your plan - or how to have necessary (but difficult) conversations about cognitive decline with family members.   Carolyn McClanahan is a contributor to www.forbes.com You can learn more about how to implement healthcare into wealth planning at Whealthcare Planning.

On this show, we talked about looking for the root cause of financial issues versus simply addressing the symptoms with Carolyn McClanahan, MD, CFP, and Founder of Life Planning, Inc.  Listen to find out how Carolyn thinks you can begin to view money as a tool for finding happiness! For the Difference Making Tip, scan ahead to 18:01. You can learn more about Carolyn at WhealthCarePlan.com, Facebook, LinkedIn, Instagram,and Twitter. Please subscribe to the show however you’re listening, leave a review and share it with someone who appreciates good ideas.  You can learn more about the show at GeorgeGrombacher.com, or contact George by clicking here.

Dr. Carolyn McClanahan, M.D. CFP®, Director of Financial Planning, Life Planning Partners People tend to be in denial about needing help managing their finances and everyday life routines as they get older. The consequences of not talking about and planning for the aging process with your family can be emotionally and financially devastating. The good news is financial planners like Carolyn McClanahan know the risks are high and work with their clients and other advisors to make sure these conversations are occurring. In this episode, Kathleen interviews Carolyn about this myth and how you and your family members can bust through it before it’s too late. Key Take Aways: Consider creating a Financial Care Taking Plan. This plan answers the question, “Who will take care of your finances if you become unable to do so?” Take time to consider how financial decisions will be made if you get into an accident, have a medical crisis, or experience some cognitive decline that prevents you paying bills, managing your investments, and making sure your assets are protected. Let family members know where accounts are and consider adding them to these accounts in case of emergency. Decide on the best living situation as you age. Talk with your family and your healthcare professional about your options. If you want to continue to live in your home as you age, find out what type of home healthcare is available, the cost of the care, and what home improvements (ex. adding hand railing in the bathrooms or making the home wheelchair accessible) Also explore assisted-living housing options in your area in case staying in your house no longer becomes feasible. Determine when you will stop driving. Driving is one of the hotter topics family members have to deal with as their parents or spouse age. Be proactive and design a transportation plan for getting around if you no longer can drive. Many families use car services, taxis, and Ubers in addition to enlisting relatives to help out. It helps to designate a family member now, when you are capable of driving, to let you know when it is time to get off the road. Communicate your healthcare wishes. Make sure you craft an estate plan with an estate attorney’s help that includes a healthcare proxy. This is a fancy word for designating a person to make healthcare decisions if you are not medically or emotionally capable of doing so. Ask yourself, “Who will help you make or to make the healthcare decisions if you cannot speak for yourself?” Once you have decided on a health care proxy, communicate your preferences for your end-of-life care. While this is a topic that may be hard to focus on now when you are healthy, letting your family know your wishes is a gift that will reduce stress and be comforting as they prepare to say goodbye. In addition to Breaking Money Silence: How to Shatter Money Taboos, Talk More Openly about Finances, and Live a Richer Life, check out this book, Fierce Conversations by Susan Scott as it is one of Carolyn’s favorites. Dr. McClanahan is a physician turned financial planner who speaks regularly on the interplay between health and financial issues, particularly regarding aging, chronic illness, end-of-life, long-term care, healthcare reform, and healthcare costs. She is also co-founder of WHealthcare Planning, the gold standard in aging planning software, and writes for Forbes and Financial Planning Magazine.  Dr. McClanahan is quoted regularly in the Washington Post, New York Times, and CNBC. She has also been featured on NPR.

Today on Financial Advisor Success, I’m excited to host Dr. Carolyn McClanahan of Life Planning Partners. Carolyn is a physician and financial planner based out of Jacksonville, Florida, where her truly holistic ensemble practice works with 80 clients and maintains more than $1 million a year of stable recurring income. In this episode, Carolyn lays out the infrastructure & beliefs of her firm and shares the client standards document that ensures she only works with considerate, responsive, all-around awesome clients. Carolyn also talks about how she adjusts her complexity-based fee for each client, why she doesn’t want to grow beyond 100 client families, the hard lessons she learned about hiring, and the parallels she sees between medicine and financial planning. We wrap up with a discussion of her new company that plans to make it easier for financial planners to navigate working with aging clients to ensure their long term financial stability. Get the full show notes and transcript for this episode at: https://www.kitces.com/9

Carolyn McClanahan, M.D., CFP began her career as a physician. As her financial life grew more complex, she and her husband sought help with their financial plan. Frustrated by not being able to find a financial planner, Carolyn went back to school to become a financial planner and took a major leap to make a significant career change. In this episode, I'm asking the expert all your questions about health insurance. As open enrollment approaches, it's time to learn what your options are and answer those tricky questions about one of our country's most complex system. See the questions I ask in the show notes.

In Episode #282, Carolyn McClanahan, a physician and founder of Life Planning Partners, tells CFA Institute why it is essential that financial advisers talk to their clients about their health and then walks us through the components of a health care discussion.