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This article discusses the financial implications of transitioning from a retirement village to a residential aged care home.
A financial checklist is an excellent tool to see how you
are progressing towards your goals and to help identify any specific areas you might need to focus on in the immediate future.
We’ve all seen media reports about ordinary Australians losing their entire
savings after responding to a phone, email or mail offer that was impossible
to resist. While some people may be naïve, scammers are also getting
smarter. although recent studies indicate that sitting too much and moving
too little can be just as bad for your health.
In this article we look at some of the ways you can offset inflation by continuing to invest, increasing your income or reducing expenses.
ESG (environmental, social, and governance) funds may attract investors with promises of higher returns, lower risks, real-world impact, or the opportunity to align their portfolios with their personal values.
It would be appropriate to conduct a review of low-income older adults living in aged care who have experienced a rise in their assets/income, as this could potentially result in them being subjected to paying higher than the advertised room rate.
Legislation passed in Parliament in late November 2022 to expand the social security principal home sale proceeds exemption, aimed at assisting retirees who are looking to downsize. The changes help reduce the impact on a retiree’s social security payment during the transition between selling and buying or building their new home.
There are financial challenges for those with a reasonable amount of superannuation such as tax, social security and estate planning that may need to be addressed and understood for people moving into aged care.
The investment industry has evolved a lot in the past decade, and there is now a range of ethical and responsible investment options to suit every preference.
Aged care financial advice is a specialist area. The rules change constantly, as do the available strategies.
Changes to super contribution rules from 1 July 2022 is a good time to meet with your adviser and review your savings and super contribution strategies.