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…
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…
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…
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…
While society continues to grapple with the factors driving gender and pay inequity, women are proactively turning to investing more than ever before. And in doing so, they are demonstrating a very competent and sensible approach to building up their wealth outside of superannuation. Each year Equal Pay Day, on a date calculated by the…
Downsizing the family home is often part of the longer-term financial plans for many older Australians. But did you know that you could consider investing the proceeds of the sale of your family home to your super – depending on your age and circumstances – as a downsizer contribution? What is a downsizer contribution? If…