Fees in residential aged care are means-tested, but the rules are complicated. This article explores the three key facts you need to know about means-tested fees. Providing aged care in a residential service is expensive when you add up wages, equipment and other operational costs. The government pays most of this cost, but you may…
Beyond accumulating wealth over time, planning your financial legacy is one of the most important aspects of estate planning. With the greatest family wealth transfer set to occur in the next 20 to 30 years, investors should consider a few things when planning. Succession planning is common in the business world. Last week, the United…
Investing in familiar names may bring a sense of comfort but by focusing too heavily on the Australian market, investors may limit their opportunity set and forgo the benefits of greater diversification. With the recent surge in global market volatility, many investors may be wondering whether investing internationally is still a good idea. When it…
Retirement village living and residential care are often seen as alternatives, but the fact is they are not true substitutes. The style of living, the services provided, and what the government will subsidise (and regulate) are different. Residential care combines accommodation and full-time daily living support. The costs are split between the resident and the…
Retirees work hard to build up their nest egg but many are hesitant to spend it when the time comes. Here are three behavioural factors that affect retirement spending and how you can overcome them to ensure you make the most of your later years. You’ve worked hard to build your retirement nest egg and…
According to the Australian Bureau of Statistics, women are retiring with 37% less than men in their super accounts, which is a frightening thought considering women, on average, live up to five years longer. So, what’s behind the super gap? The super gap is partly due to the lower average earnings of women. Data from…
For some people, risk means excitement and opportunity. For others, it invokes feelings of fear and discomfort. We all experience a degree of risk in our everyday lives – whether it’s simply walking down the street or having investments in the share market. Everyone has a risk profile that defines their willingness to accept risk….
You’ve made plans, set a budget and financial goals; you’re ready for anything, right? But what happens if a loved one is in an accident or your ageing parent starts needing dedicated care? How do you juggle career and the role of carer? Registered Nurse, Rachel James, had packed her bags and was five days…
For many people, the idea of managing and investing in your own retirement savings is very appealing. But there is debate over whether running your own self-managed super fund (SMSF) is cost-effective. So, what are the arguments for and against having your own fund? Taking control of your super People choose to run their own…
Did you think you would not qualify for the government subsidies on home care? Take another look – you might be surprised. The cost of full-time private care provided in your own home may look daunting. But financial advice along with a government-subsidised home care package and support from friends and family might make home…