Below you'll find a list of all posts that have been categorized as “Financial Advice”
Navigating the world of aged care can be overwhelming, especially when it comes to means tested aged care fees. In this article, we’ll go through daily fees and means-tested care fees to provide clarity for those approaching or considering aged care. What are Daily Fees and Means-Tested Care Fees? The Basic Daily Fee Every resident of an aged care facility …
When it comes to planning for aged care, seeking guidance from an experienced aged care financial advisor is crucial. These professionals specialise in navigating the complexities of aged care and can help you make informed decisions. However, it’s essential to be aware of common mistakes that people often make during the financial planning process Not wanting to pay for professional …
As we or our loved ones age, the need for specialised care and support becomes increasingly important. In Australia, various aged care services are available to provide assistance tailored to individual needs. However, navigating the eligibility requirements and understanding the process can be complex. In this post, we will guide you through the steps to qualify for aged care services …
As we grow older and enter our *golden years*, many of us may require additional care and support to maintain our quality of life. Aged care can help seniors live comfortably and independently by providing a range of services tailored to meet individual needs. However, the question that often arises is, “How much does aged care in Australia cost?” There …
Whether you’re an investor or borrower, you would be very aware of the recent increases to interest rates. On April 1, 2023, the aged care interest rate (also known as the Maximum Permissible Interest Rate, or MPIR) increased to 7.46%. This marks the sixth consecutive rise since October 2021 when the rate was merely 4.01% p.a. The new rate applies …
Being a home owner when it comes to assessing your pension isn’t as straight forward as you may think. If you live in a retirement village, are you a home owner? Of course you know if you own a home (or mortgage) or not, however in a retirement village, this arrangement can actually be seen as a lease or a …
Each person has their own circumstances, you may be in a position where you are weighing up if you need to sell the family home to afford aged care costs, specifically the RAD. With so many variables and a lot to consider, there is no simple answer, however providing specific financial advice for aged care is what we do. What …
This is one of the common questions when people come to me for aged care financial advice. The answer is: if you receive a means-tested pension then the decisions you make about funding your aged care can affect your pension entitlement. The accommodation payment component of the aged care costs is exempt from the calculation of pension under the asset and …
There is a point where you reach an age and the relationship between child and parent has changed. It very well may be that point in life where it is now your responsibility to start caring for your elderly parents’ needs. It is time to start aged care planning. There are so many things to consider when making the difficult …
With the end of 2022 financial year approaching, it is a great time to review any Centrelink or aged care entitlements you have. As always, we are here to assist you. If you have any questions about the issues mentioned below, please don’t hesitate to contact us. Here are some things to consider: Applying for Centrelink or DVA benefits The …
