Confused about aged care?

The good news is we are living longer. This may give you more time in retirement to tick off your bucket list. But at some point, you might expect to slow down and take things easier. At that point, you may need help around the home or with some of your daily needs. Or you may need to make the move to residential aged care.

Whatever your needs and choices, identifying your options and making effective decisions can become overwhelming without good advice and an effective plan.

Some tasks are too complex and too important to do on your own. Navigating the way through aged care and the jargon is not easy – especially if decisions are being made in a time of crisis and emotions are running high. When aged care decisions go badly, the stress can lead to family conflicts, fuelled by the Three G’s of aged care® which have been identified by Aged Care Steps as grief, guilt and greed. Mistakes can be costly.

Three key mistakes we see people make when they don’t get the right advice:

  • Selling the home without understanding the implications
  • Being afraid to pay a lump sum (refundable accommodation deposit) for residential care accommodation and missing out on Centrelink concessions
  • Not generating enough cashflow.

 

This is where we can help. As financial advisers with aged care advice experience we can help to guide you through the process. Financial advice isn’t just about superannuation and investments.  Advice can help to show you how you can afford the care you need and provide clarity to understand how it all works.

You might be looking for advice for yourself or for a family member. Or you might be planning ahead for the future so you can plan for quality of life, even when care needs start to creep in.

Let us take away some of the stress. Contact us today on 02 4920 7886 to make an appointment to discuss your current or future aged care needs.

 

 

 

Disclaimer: The information in this article is general and does not take into account your particular circumstances. We recommend specific tax or legal advice be sought before any action is taken and refer to the relevant Product Disclosure Statement before investing in any product. Current at 1 August 2020.

 

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