Aged Care
The new aged care system came into force 1/11/2025 and is now live. This impacts both home care and residential aged care unless you are either fully or partly “grandfathered” under the previous arrangements. So, our aged care system has become even more complicated than it was previously and you are not alone in needing expert help.
Moving into aged care can be a very daunting experience, whether you are organising this for yourself or for a loved one. Financial advice at this time can be invaluable as moving into aged care involves complex financial decisions and considerations. It often comes with significant costs and can impact a person’s financial situation and assets.
We can help you to understand what fee structure will apply for you, calculate your fees, work through your options for funding these and also discuss any opportunities to improve your situation.
It’s essential to seek advice from a qualified and experienced financial advisor who specialises in aged care to ensure that you make well-informed decisions that are right for you.
We can help.
Retirement planning
Everyone wishes for their retirement years to be comfortable and to be able to easily afford the things they love to do. We can check in to see how affordable it would be for you to retire when you wish to, help to plan what would make this affordable and put plans in place to prepare for this.
Investing doesn’t stop when you retire. Many of us can expect to live and enjoy 30 years or more in retirement and it is important to ensure your investments are structured appropriately. You should be taking advantage of the many opportunities available to retired clients. We can help you to invest taking only the level of risk you are comfortable with, optimise your Centrelink entitlements, minimise the level of tax you pay and ensure that your ongoing lifestyle can be comfortably afforded for your foreseeable lifetime.
Retirement and Lifestyle Villages can a fabulous way to downsize, moving to an easy-to-manage home and joining a social and vibrant community. However, such a move can have very significant financial implications.
If you sell your home to fund the move and have significant funds left over, these can reduce your age pension and so cause cash flow issues. The pricing structure at villages can vary very significantly and many now offer you several contract options – sometimes you can pay more going in to reduce the fees when you leave, for example.
It can be hard to understand what is best for you.
AgeWise Financial Planning will help you to understand your options, work out what you can afford, help you to understand the financial implications of each option and provide you advice on how to best proceed with this exciting move.