Ep 485: Where Health Meets Wealth: Financial Planning with Dr. Carolyn McClanahan

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Entrepreneurship, Business

4.8 • 1.3K Ratings

🗓️ 23 July 2025

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

What happens when a physician becomes a financial planner? You get someone who truly understands that your health and wealth are inseparable. In this live episode from the Morningstar Investment Conference in Chicago, Jean Chatzky sits down with Dr. Carolyn McClanahan, MD, CFP®, and founder of Life Planning Partners, to explore how women can better prepare for their financial futures by making smart health and money choices today. If you're in your 30s, 40s, or 50s and wondering, “Is it too late to start planning?” — the answer is no. But it’s time to get serious. What You’ll Hear In This Episode: The caregiving trap and its impact on women’s careers and finances How to financially and emotionally prep for marriage and kids Long-term care planning: what to expect, how to pay, and why facilities may be more affordable than you think Creating a “Big 4” aging plan: housing, healthcare, finances, and transportation The role mental health plays in your financial wellbeing—and why advisors should care Why joint accounts and financial transparency might just be the glue that holds marriages together The best way to find an advisor who actually plans for your whole life, not just your portfolio If you’d like to learn more about the conference or sign up for updates on MIC 2026, head to the MIC website—you can join the mailing list right from the homepage. If more financial confidence sounds good to you, then you might want to try… ⁠4-Week Coaching Program⁠: Identify and understand your spending, build a strategic plan, and take control of your money. ⁠6-Week Pre-Retirement Program⁠: We’ll help you prepare financially and emotionally for this exciting milestone. 📈⁠InvestingFixx⁠: Learn, connect, and start investing—your first month is completely free. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	If you aren't taking care of yourself by your early 40s, late 50s, it's going to be really hard to catch up.
0:08.0	So those people in their 30s and 40s, you can do it.
0:11.0	And it starts by one, understanding what you're spending and why.
0:18.0	Hey, everyone.
0:18.9	Thank you so much for joining me today on Her Money. I'm Gene Chatsky. We are at the Morningstar Investment Conference. I'm with Carolyn McClanahan. And let me just tell you why I'm sitting down with her today. I don't think that there is any denying the fact that health and wealth are
0:39.4	inextricably linked. If you are not healthy, the price tag is going to take a toll on your finances.
0:44.9	If you're not financially secure, it's pretty tough to take care of your health. Well,
0:50.1	Dr. Carolyn McClanahan lives at the intersection of these two things. She is a position,
0:57.5	a certified financial planner and the founder of life planning partners. She started her career
1:03.6	in medicine, but after seeing how deeply these two things are intertwined, she set out to help people plan for both.
1:14.4	And today, as I said, we are both at the Morning Star Conference on Navy Pier in Chicago,
1:20.0	where tomorrow we'll sit down for a panel conversation with our friend Christine Benz.
1:26.0	But I was thrilled to have an opportunity to pull her
1:28.9	into the podcast booth today. We are going to take a quick break. At her money, we talk a lot about
1:36.1	how financial clarity is the first step toward building real wealth. That's hard to do when
1:41.9	your money is scattered across five different apps, which is why we are so
1:47.4	excited to share Monarch money with our community. It's not just a budgeting tool. It's a full
1:53.5	financial command center that helps you see all your accounts, investments, credit cards, and
1:58.9	goals in one clear, easy to navigate dashboard.
2:03.4	Monarch gives you the kind of visibility most people don't realize they're missing, whether
2:07.5	it's overspending on dining out, subscriptions you forgot, or wondering why your savings
2:13.5	never quite grow the way you planned. Get control of your overall finances with Monarch
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Jean Chatzky Her Money, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Jean Chatzky Her Money and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.