Below you'll find a list of all posts that have been categorized as “resources”
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 …
Transitioning a loved one to an aged care facility is not an easy move. However, in most cases, it is recommended from a doctor to provide them the care they require. Transitioning a loved one to aged care can be challenging for all family members involved and can lead to feelings of guilt, worry, and helplessness. Here are some tips …
Help at home is helping older people stay at home longer. As people get older, living independently in their own home can become more difficult. When things start becoming harder than they once were, perhaps it is time arrange for some help at home. Asking for help doesn’t mean loss of independence; it’s usually quite the opposite. Getting a little …
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 …
As an aged care financial planner, I am asked this question many times each week. The answer in short, is NO, you cannot be forced to sell your family home. However, once we look at alternatives and the affect this could have on your final asset base to leave behind for your family as an inheritance, selling your family home …
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 …
Unsure where to go when looking into aged care? Here are links to resources relating to all things aged care- and if you can’t find what you are looking for, please call us and we will help you find it! Aged Care Pricing Commissioner – www.acpc.gov.au The Australian Government Deptment of Health – www.health.gov.au The Australian Government Department of Human …
A fantastic short video on explaining income and assest assessment and the overall process when entering aged care. The video takes three minutes and covers the main aspects when entering aged care: Fees Choosing a home you and your family like Government Support For more information, personailsed to your circumstances, contact us at Aged Care Specialists Vic.
