# Paying for Care: RRSPs, RRIFs, HELOCs and What Families Need to Know — with Personal Finance Expert Rob Carrick

Page: https://stenobird.com/podcast/the-hart-of-it-all-with-teri-hart-7518851/paying-for-care-rrsps-rrifs-helocs-and-what-families-need-to-know-with-personal-finance-expert-rob-carrick
Text version: https://stenobird.com/podcast/the-hart-of-it-all-with-teri-hart-7518851/paying-for-care-rrsps-rrifs-helocs-and-what-families-need-to-know-with-personal-finance-expert-rob-carrick.md
Podcast: [The Hart Of It All with Teri Hart](https://stenobird.com/podcast/the-hart-of-it-all-with-teri-hart-7518851)
Published: 2026-06-02T08:00:00+00:00
Episode link: https://shows.acast.com/the-hart-of-it-all-with-teri-hart/episodes/paying-for-care-rrsps-rrifs-helocs-rob-carrick
Audio file: https://sphinx.acast.com/p/open/s/68d4132807474c67716dc5f6/e/6a1dca42e40d238fcdeebcb7/media.mp3
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Duration seconds: 2100

## Resource

The financial side of caregiving can feel overwhelming, especially when aging parents want to stay at home. But understanding the options early can bring clarity, relief, and a stronger sense of control. In the last episode, personal finance expert Rob Carrick walked through a practical financial checklist to help caregivers start important money conversations with aging parents. In Part 2 of his conversation with Teri Hart, Rob goes deeper into the financial realities families may face as parents age, especially when they want to age in place. Teri and Rob unpack the difference between a home equity line of credit (HELOC) and a reverse mortgage, how care costs can reshape expectations around inheritance, and why the so-called “great wealth transfer” may not be as straightforward as many families think. They also discuss registered retirement savings plans (RRSPs), registered retirement income funds (RRIFs), tax-free savings accounts (TFSAs), estate planning, and the often-misunderstood tax implications that can come later in life. This episode is for anyone helping aging parents make financial decisions, trying to understand the cost of aging in place, or wondering how to have more honest conversations about money, care, and quality of life before a crisis hits. As Rob shares from both his professional expertise and his own caregiving experience, the “care years” are something many families enter with little preparation, but the right conversations can make those years easier to navigate. __ This episode is sponsored by RBC Wealth Management, a business segment of Royal Bank of Canada. This content is provided for general information only and is not intended to provide any advice nor endorsements/recommendations. All opinions and views expressed by the speaker(s)…

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