Monday 6 September 2021

Caring Families Need Help With Financial Planning - It's Here

I absolutely love it when family caregivers turn their experience into a business opportunity after caring ends. And when they create a service that I know we caregivers really need, I blog about it! Today I'd like to tell you about a conversation I had about a company called CaregiverCapital I spoke with caregiver David Tyson, the founder and CEO and here's how he answered my questions:

Tell us about CaregiverCapital. What's the origin story of your company?

As a teenager, I served as one of the primary caregivers for my grandfather after several health scares required him to move in with my family. While I quickly adapted to this role and the challenges of being a caregiver, my family struggled to afford the care my grandfather needed. The financial hurdles of long-term care were simply overwhelming. Serving as my grandfather’s caregiver was a challenge, but it was also my greatest blessing – and I resolved to help alleviate that financial hardship for others through CaregiverCapital.

How did you come to realise that there is a need for your services in the caregiver community? Tell us about the services you provide. 

As I began to proactively plan for my own parent’s care, I was struggled to find any guidance to help me understand the financial components of long-term care. I began talking to friends, colleagues, and over 100 caregivers who all shared the same challenge – they simply had no support to help navigate the many confusing financial aspects of long-term care. To fill this need, I started  CaregiverCapital where we provide three primary services: complimentary diagnostic sessions with a licensed elder care financial planner, ongoing financial planning consultations, and a monthly newsletter covering different financial topics. CaregiverCapital is headquartered in Chicago with a network of financial planners licensed to support clients in all 50 states across the country. 

To learn more, clients can reach us via email at: [email protected] or visit our website at:

What are some typical challenges that caregivers have when they approach you and how do you meet those challenges?

One of the biggest challenges is that caregivers ‘may not know what they don't know’ and can be overwhelmed by all the confusing aspects of different financial decisions. To support our clients through these challenges, we first provide all new clients a free diagnostic session with one of our licensed financial planners where we talk through each caregivers’ unique financial situation, goals for the future, and any immediate questions. Using this information, we then build a financial ‘playbook’ for each of clients that outlines the different financial pillars of their plan and simplifies the decision-making process. As our client’s needs change, we offer ongoing consultations and free resource guides that help to address their financial questions by simplifying different financial topics into clear and actionable guidance.


If there is one piece of advice that you have for caregivers regarding financial security, what would that be?

Start the conversation early. Discussing anything related to long-term care needs with your parents or a partner can be a difficult and uncomfortable conversation. However, just starting the dialogue is incredibly powerful and opens the door to being thoughtful in your planning. This dialogue is especially important when navigating the many aspects of financial planning – whether its purchasing a long-term care insurance policy or saving for retirement. And getting the conversation started early will help you to formulate a plan about those different aspects of care that require proactive planning.


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