How you choose to pay for your room in aged care is an important decision, and with large dollars involved, it is one that should not be rushed. Know your rights and take time to get advice. When moving into residential care, your first financial challenge is likely to be deciding how to pay for…
The statistics on elder abuse are alarming, with almost 15% of older Australians estimated to be suffering elder abuse each year. The actual numbers are probably higher, as it is likely that not all cases are reported. This abuse often involves the misuse of an older person’s finances and assets by family members – often…
The rising cost of living is grabbing all the attention right now as people struggle to pay the increasing prices. But in the meantime, our collective wealth has been growing steadily and is being transferred to the next generation at increasing rates. In fact, the value of inheritances as well as gifts to family and…
The concept of retirement is changing, with fewer people working towards a final retirement date and then clocking off for good. Instead, those who have the flexibility to choose are often transitioning out of the workforce over several years, or even returning after a break. Whether you simply want to wind back your working hours…
Moving into aged care can be a challenging time, both for those making the move and families supporting their loved ones. It’s understandable that everyone wants to find the most suitable accommodation and the appropriate standard of care, however, it can be confusing to make that choice. A new star rating system for aged care is giving…
Retirement is a phase of life most of us look forward to. It’s a chance to pursue other interests, travel and maybe do some part-time work or volunteering. Thanks to more than 30 years of compulsory superannuation, we are retiring with more savings than previous generations but that also brings its challenges. According to the…
Lots of rules and lots of jargon make understanding aged care even more complicated. This article demystifies one of the more common strategies of DAP from RAD. Understanding aged care can be complicated enough, without needing to decipher all the jargon and acronyms. An example is the “DAP from RAD” strategy, which can be confusing…
When your family gathers over the festive season, it might present an opportunity to start planning for future care needs. Christmas is a time for families and the New Year is for resolutions. This year, combine the two by making a resolution to pay more attention to how your older parents are coping and start…
Think you can’t afford aged care? Advice on your options can help to understand what is affordable and how to best structure your finances. When you move into residential aged care, the room price might be quoted as a lump sum, but you will have the choice to pay for your room as a lump…
Many parents and grandparents worry about how to help the children in their lives achieve financial independence. But the value of long-term investment can seem like a dry and complicated idea for kids to get their heads around. In fact, many young people would like to know more about money, according to a Young People and…