1960: The Hidden Cost of Aging in America with Senator Andy Kim

So Money with Farnoosh Torabi

Farnoosh Torabi

Business, Entrepreneurship

4.7 • 2K Ratings

🗓️ 23 March 2026

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

What would you do if caring for a parent meant putting your own financial future—and your kids’—on hold?

That’s not a hypothetical. It’s the reality facing millions of Americans right now, including Senator Andy Kim—a father of two, a son navigating his own father’s Alzheimer’s diagnosis, and now, one of the leading voices in Washington pushing for change.

Today’s episode is a deeply personal and urgent conversation about the true cost of caregiving in America—financially, emotionally, and systemically.

This interview is also a special crossover with The Montclair Pod, my local news podcast, where I co-host alongside Michael Schreiber—who you’ll hear in this conversation as well. Together, we sat down with Senator Kim to talk not just about policy, but about what happens when aging, illness, and money collide inside your own family.

Before serving in the Senate, Andy Kim worked in national security and diplomacy, and today he represents nearly 10 million New Jersey residents. But in this conversation, what stands out most isn’t his title—it’s his story.

He opens up about his father’s battle with Alzheimer’s, the impossible trade-offs of being in the sandwich generation, and how quickly a family’s financial plan can unravel in the face of long-term care costs.

We talk about why so many families are blindsided, what Medicare does—and doesn’t—cover, why long-term care insurance is falling short, and what changes may be coming.

Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open!

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Transcript

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0:00.0	So Money episode 1960, the long-term care crisis, the hidden cost of aging in America with Senator Andy Kim.
0:09.2	You're listening to So Money with award-winning money guru Farnush Karapi. Each day, get a 30-minute
0:15.5	dose of financial inspiration from the world's top business minds, authors, influencers, and from Farnoose yourself.
0:23.3	Looking for ways to save on gas or double your double coupons? Sorry, you're in the wrong place.
0:29.4	Seeking profound ways to live a richer, happier life. Welcome to So Money.
0:35.7	A neighbor of mine back home, you know, I saw her, she had a for sale sign in front of her home a couple years ago.
0:44.6	And I went up to her and I said, what's going on?
0:47.0	Like, I see a for sale sign.
0:48.5	She just started crying because she was like, you know, this was our supposed to be our forever home.
0:52.8	But, you know, my husband has dementia now and we can't afford this.
0:57.4	And I feel really terrible because I didn't understand at the time fully.
1:03.8	But I do now, I do understand now just how devastating, crippling this can be.
1:09.2	I mean, the average cost for a private room at an
1:12.8	elder care center in New Jersey is about 14,000, over 14,000 a month. You know, that is outrageous.
1:21.3	I mean, who can afford this? Welcome to So Money, everybody. I'm Farnoose Tarabi. What would you do
1:27.0	if caring for a parent meant putting your own financial future and your kids on hold? That's not a hypothetical. It's the reality facing millions of Americans right now, including Senator Andy Kim. He's a father of two, a son navigating his own father's Alzheimer's diagnosis, and now one of the leading voices in Washington
1:46.5	pushing for change. Our episode today is a deeply personal and urgent conversation about the true
1:52.6	cost of caregiving in this country, the financial, emotional, and systemic costs.
1:57.9	This interview is also a special crossover with the Montclair Pod, my local news podcast,
2:02.6	where I co-host alongside journalist Michael Schreiber. You're going to hear him as well in this
2:07.6	conversation. Together, we sat down with the senator to talk not just about policy, but what happens
2:13.6	when aging, illness, and money collide inside your own family. Now, before serving in the Senate,
	...

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