Role-reversal: When parents are relying on you As your parents get older, your whole family will be facing lots of changes. Supporting them during this time can be challenging, with lots of choices to be made. Get some tips to help you prepare for this role-reversal without it becoming a burden or a cause of family conflict. In the later stages of life, many seniors want to stay independent for as long as possible, but …
When is the right time to downsize? Downsizing from a larger family home to somewhere smaller can be an obvious choice when retirement is on the cards. For others it’s a necessity and something they do reluctantly. So when it comes to timing your decision, what’s the right approach to getting the best outcome for you and your finances? When is the right time to downsize? We talked to CERTIFIED FINANCIAL PLANNER® professional Anne Graham, principal …
Being prepared for aged care Aged care isn’t something most people want to think about when they’re planning for a life of freedom and comfort in retirement. But by taking the time to explore a few important issues and questions, you can get the best possible outcome if you should need support in later years. In a recent survey of more than 5000 older people in WA, only 12% of respondents have a plan in place …
Aged Care – Changes to Assessment of Rental Income Leaving the family home to enter residential care is a tough decision. On the one hand, you (or your loved ones) are leaving a place you’ve made your own over decades. On the other hand, those moving in to aged care often experience an immediate boost in quality of life – fewer responsibilities, more time for hobbies, a close-knit community of neighbours, and more. Making the …
Aged care – A loser in the recent 2015-16 Federal Budget Residential aged care received only minimal attention in the government’s recent Federal Budget. Unfortunately, people entering residential aged care from 1 January 2016 are the losers from the budget, as the strategy available to assist families wishing to keep the family home will be removed. Currently there is an advantage for people entering aged care to keep the family home and fund all …
