Today’s Hack
For many parents, retirement planning includes the idea of an empty nest. But what if that’s never going to be your reality? Today, Phil answers a viewer question about how to plan for retirement while continuing to care for an adult child on the autism spectrum. It’s a question more families are facing, and in this episode, we’re walking through the financial and emotional factors that come with a “forever caregiving” retirement. From budgets to housing needs, your retirement roadmap may look entirely different, but it can still be achievable with the right strategies.
Phil covers the planning steps that matter most when you’re balancing your own future with long-term caregiving. He explains how to account for government benefits, whether special needs trusts are appropriate, how to protect eligibility for assistance, and why tax-efficient planning becomes even more critical. Retirement isn’t one-size-fits-all, and your plan shouldn’t be either.
Here’s some of what we discuss in this episode:
🏡 Why downsizing may not be an option in this kind of retirement
📋 What to consider when building a caregiving budget
⚖️ The role of government benefits like SSDI, SSI, and DAC
📜 Special needs trusts: when and how they fit in
💡 Creative strategies to protect care, assets, and dignity
0:00 – Intro
1:17 – Listener question: Caring for an adult child with autism
3:21 – Budgeting for more than just two people
5:15 – SSDI, DAC and special needs trust
11:31 – Life Insurance
14:44 – Don’t give up on retirement
If you have any questions about what we discussed in this episode, reach out and we’ll be happy to set up a time to talk.
Get your copy of The Tax-Smart Retiree: https://www.thetaxsmartretireebook.com/welcome