Many caregivers neglect their own financial futures when caring for others. That’s why Cheer Home Care recently hosted a Lunch & Learn event featuring Brad Castillo from Merrill Lynch Wealth Management. This session, focused on personal financial management, gave caregivers and professionals practical tools for building long-term economic security, starting with what they have now. From saving for retirement to planning your first investment, Brad’s message was clear: starting early, even if with small amounts, can lead to big outcomes!
Meet Brad Castillo
Brad Castillo is a seasoned financial advisor at Merrill Lynch Wealth Management. A proud San Diego State University alumnus and Navy veteran, Brad brings more than discipline and structure to his approach; he brings heart. He understands working professionals’ challenges and is passionate about helping people plan financially, no matter their financial state.
Start Saving Where You Are
The core message that resonated throughout the session was to start small. Whether you contribute an extra 1% to your 401(k) or redirect your daily coffee budget to a high-yield savings account, every step forward counts.
Those who attended shared a renewed perspective on their financial future:
“”I’m increasing my 401(k) contributions.”
“I’m opening a high-yield savings account to stop losing money to low interest.”
“I used to think small amounts didn’t matter. Now I understand how compound interest works.”
Knowledge That Builds Confidence
One attendee shared, “I used to be overwhelmed by investing. Now, I feel like I have a starting point.” Brad broke down intimidating concepts like compound interest and long-term investing into easy-to-understand examples. He emphasized the importance of having 3–6 months of emergency savings and introduced tools like high-yield savings accounts (HYSAs) as an accessible first step. He also reminded attendees that adjusting contributions to a 401(k) even by just 1% can go largely unnoticed in the short term, but lead to significant gains in the future.
How Financial Planning Supports Caregivers
Financial stress is a quiet burden for many caregivers. Long shifts, unexpected expenses, and limited time for personal planning can lead to burnout. Events like these equip caregivers with not just practical tools, but also peace of mind.
Better financial literacy:
- Builds self-assurance in personal and professional decision-making
- Allows caregivers to model and teach healthy financial habits to their families
- Creates space to dream about long-term goals beyond the next paycheck
Brad encouraged attendees to consider routine habits that come with a cost. Daily spending habits (like buying coffee, bottled water, or lunch out) could be reallocated toward investment goals.
Scenario:
An $8 coffee every day = $2,920 a year. Redirecting just half of that into a high-yield savings account or retirement fund could mean tens of thousands of dollars over time. These small changes can be challenging initially, but are empowering in the long run. For caregivers working long hours in emotionally demanding roles, creating financial stability is one way to bring balance and confidence into their daily lives.
Ready to Take the First Step?
“For us, success is about helping you reach your goals, not a number.” We’re grateful to Brad Castillo and Merrill Lynch Wealth Management for this informative session. If you’re ready to explore what your next financial step might look like, start now! Connect with an Advisor at Merrill Lynch, and to discover more educational opportunities like this one, visit Cheer Home Care’s Events Page.
