Next Best Home (Next Best Home): You have such a unique and diverse background. Can you tell us more about your career journey and how you transitioned from the clinical field to the financial and insurance industry?
Merridith Gonzalez: My journey has certainly been a bit unconventional. I started out in the clinical field, where I gained valuable experience working with patients and understanding their needs from a healthcare perspective. Over time, I realized how many families struggle with the financial and emotional burdens of caregiving. This led me to transition into the financial and insurance industry. My focus shifted to helping people plan for long-term care needs, which can be complex and overwhelming. I now specialize in long-term care education, planning, and I’m passionate about creating generational stability for my clients.
Next Best Home: You mention that it “takes a village” when it comes to self and family planning. Can you elaborate on what that means in the context of your work?
Merridith Gonzalez: When it comes to family and long-term care planning, it’s not just about one individual or one family member taking on all the responsibilities. It truly takes a village — a team of professionals and loved ones working together to ensure that the individual’s needs are met in the best possible way. I see this from both a healthcare and financial standpoint. Families often don’t realize how complex long-term care can be, and they can’t do it alone. This is where financial advisors, healthcare professionals, and insurance agents like myself step in. We all have a role to play in making sure families are prepared, educated, and supported.
Next Best Home: You’ve mentioned that adult children often reach out to you when they’re looking to review their parents’ policies. Why do you think adult children become the primary decision-makers when it comes to these types of planning?
Merridith Gonzalez: That’s a great question. Adult children often become involved because they’re faced with the responsibility of caring for aging parents, especially when they begin to face health challenges or need more care than they can manage on their own. The “sandwich generation” is especially impacted, as these individuals are balancing the needs of their own children while also trying to manage their parents’ care. The stress of trying to figure out the financial and care logistics can be overwhelming, which is why they often turn to experts like me. They want to make sure their parents are well taken care of without sacrificing their own financial security.
Next Best Home: Many families don’t fully understand the current and future costs of care, which is a common issue you encounter. What do you think is the biggest misconception people have about long-term care costs?
Merridith Gonzalez: One of the biggest misconceptions is that long-term care is something that can be easily managed when the time comes, but in reality, it’s extremely costly and the expenses can add up quickly. People often underestimate how much care will cost in the future or assume that Medicare will cover everything. However, most forms of Medicare do not cover long-term care services, such as nursing home stays or in-home care. Families often think they can “figure it out” as they go, but the costs can be overwhelming, and by the time they realize this, it’s often too late to make cost-effective adjustments. That’s why early planning and education are key.
Next Best Home: It sounds like early planning is essential. In your experience, what are some of the most common mistakes adult children or families make when it comes to long-term care planning?
Merridith Gonzalez: One of the biggest mistakes I see is procrastination. Many people think they have more time to deal with long-term care planning, so they put it off, only to find themselves in a crisis situation. Another common mistake is not having open conversations about these topics with their parents or family members early enough. It’s important to discuss wishes, finances, and the potential for future care needs ahead of time, rather than waiting for a health emergency to trigger those discussions. Lastly, not understanding the various insurance products available can lead to families missing out on opportunities to better protect their assets.
Next Best Home: You’ve mentioned your connections to financial advisors and your ability to guide families looking for advice. How do you work with financial advisors and other professionals to create a well-rounded plan for families?
Merridith Gonzalez: I collaborate closely with financial advisors, estate planners, and healthcare professionals to create a holistic plan that addresses all aspects of care — from healthcare needs to financial sustainability. Financial advisors help with ensuring that families have the right assets and retirement plans in place to cover long-term care costs, while I focus on making sure they have the right insurance and care options. We work together to ensure that families are prepared for any scenario that may arise, and we help them understand the financial tools available to make those scenarios more manageable.
Next Best Home: That sounds like a powerful team approach. Lastly, as someone who has a background in both healthcare and financial planning, what advice would you offer families who are starting to think about long-term care planning for their loved ones?
Merridith Gonzalez: My best advice is to start early and be proactive. It’s never too soon to start planning, and the earlier you begin, the more options you’ll have available. Have open conversations with your family about long-term care, and don’t assume that Medicare will cover everything. Educate yourself on the various long-term care insurance options and work with professionals who can help guide you through the process. Most importantly, take the time to put a plan in place that will protect both your loved ones and your own financial future.
Next Best Home: It’s clear that your unique blend of healthcare and financial expertise provides immense value to families navigating long-term care planning.
Merridith Gonzalez: I’m passionate about helping families, and I truly believe that with the right planning and support, we can help them create a stable and secure future.
Next Best Home: We thank you for all the work you do to make that happen!
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