With the Australian population over the age of 70 likely to double to nearly four million in the next 20 years, aged care is an issue that we all need to understand as it can be a very complex system. There is so much to consider and often so little time as it is not something that most Australians plan for.
Here are a few points to consider when entering into Aged Care
- What is an accommodation bond and how will it be funded?
- Do I have to sell my home, or are there other options?
- What are aged care fees and how much will these cost?
- How can my estate be best preserved so assets are not lost?
- What government benefits or subsidies am I entitled to and do I claim my full allowance?
- How can I make my money last so I can afford care long term?
It can be a confusing and emotional time considering placing yourself or a relative into residential aged care – but as with many of life's big decisions the best approach is to speak with your Certified Financial Planner®. We can assist you to find the best aged care facility and help make the right financial decisions for you and your family.
All Round Financial Planning helps you define then transform your goals into a secure reality that allows you to realise your ambitions.