EP 024
The Impact of a Serious Health Crisis on Your Retirement Planning
with Dr. Kerry Forrestal
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INSIDE THIS EPISODE
In this compelling episode of the RichLife Retirement Show, Beau Henderson sits down with Dr. Kerry Forrestal, an emergency medicine physician and author of Crushing Cancer: A Patient’s Complete Guide to Managing a Cancer Diagnosis. Together, they delve into the profound ways a serious health crisis, such as cancer, can affect retirement planning and financial confidence.
Key Discussion Points:
Early Detection and Emergency Rooms: Dr. Forrestal highlights that many cancer diagnoses occur in emergency rooms, emphasizing the importance of regular screenings and proactive health measures.
The “Fourth Age” of Cancer Treatment: The conversation explores advancements in cancer treatments, offering hope and improved outcomes for patients.
Navigating Information Overload: Newly diagnosed patients often turn to the internet for information, which can lead to confusion and anxiety. Dr. Forrestal advises on more effective strategies for understanding one’s diagnosis.
Financial Implications: The episode discusses the significant costs associated with cancer treatment and the importance of integrating healthcare planning into retirement strategies.
Actionable Steps: Listeners are provided with practical advice on how to prepare for potential health crises, including reviewing insurance coverage and establishing emergency funds.
KEY TAKEAWAYS
[00:02:15] – Cancer Diagnosed in the ER:
Dr. Forrestal describes how and why many patients first learn they have cancer during emergency visits.
[00:10:30] – Modern Cancer Care:
Introduction to the “fourth age of cancer treatment”—immunotherapy and tailored medicine.
[00:18:24] – The Book and Its Purpose:
Why Dr. Forrestal wrote Crushing Cancer and how it’s helping families prepare for the journey.
[00:25:00] – Finances and Health Crises:
The economic toll of illness and the role of insurance and financial planning.
[00:32:20] – Hope and Innovation:
New treatments are offering remission—and sometimes cures—for previously fatal diagnoses.
[00:37:00] – Tax Planning and the Sunset Clause:
Beau and Bruce pivot to the 2025 sunset of the Tax Cuts and Jobs Act and how it impacts retirees.
[00:42:00] – Long-Term Care Planning:
Strategies to manage or insure against the cost of future medical needs.
RESOURCES FROM THE SHOW
CONNECT
Connect with Beau and the RichLife Team:
Connect with Dr. Forrestal:
LINKS & RESOURCES
Get a free chapter of “Crushing Cancer” at crushingcancerthebook.com
Download free checklists and forms from crushingcancerthebook.com/resources
To schedule a “RichLife Retirement Rodamap Review”: Text “RRR” to 877-731-7424 to set up a comprehensive retirement planning review with the RichLife Advisors team.
To get a copy of Beau’s Book, “Social Security Clarity”: visit SocialSecurityClarity.com
For retirement planning questions: visit the “AskBeau.com” mailbag to submit your questions.
DISCLOSURES
Beau Henderson is an investment advisor representative with Fiduciary Capital, Inc, a registered investment advisor. Opinions expressed on this program do not necessarily reflect those of Fiduciary Capital, Inc, are for educational purposes only and do not constitute specific individual advice.
RichLife Advisors does not offer legal or tax advice. Listeners are encouraged to discuss their financial needs with the appropriate professional regarding your individual circumstance. Beau Henderson and RichLife Advisors are not associated with or endorsed by Medicare, the Social Security Administration or any other government agency.
Investing in securities involves risk, including potential loss. No investment strategy can guarantee returns or eliminate risk. Investment values and income can fluctuate with market conditions. Past performance does not predict future results. References to protection or steady income apply only to fixed insurance products, not securities or investment advisory products. Guarantees depend on the insurance company’s financial strength. Surrender charges apply for early withdrawal, which is taxed to ordinary income and may incur a 10% federal tax penalty if taken before age 59 and a half.