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Aged Care

How much do you need to retire? What strategies can you consider to help you get ahead? In this topic we have fact sheets, calculators and insights to help you gain a better understanding of where you are now and where you could have the opportunity to make improvements.

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12 tips when discussing aged care options with loved ones this Christmas

We are joined by Financial Planner and Aged Care Specialist Shaun Akroyd, to share his 12 tips when considering aged care and how to approach it with loved ones this Christmas.

Christmas can be a stressful and emotional time for many people; in addition to the cooking, presents, and visiting schedules, many people are also faced with the need to look at aged care for themselves or a loved one.   So, if the conversation this Christmas turns to aged care, here are my tips for navigating... view article
December 15th 2021


Aged care challenges in the home

Aging at home with government-subsidised funding is made possible through the Home Care Packages program.

However, a crackdown on what the funds can be used for and a shortage of support workers can make it challenging to understand the funding available. If you are approved for a Home Care Package you will be assessed at one of four levels. These levels acknowledge the different types of care needed. Current annual funding... view article
November 8th 2023

Star ratings for Aged Care help make family choices easier

Moving into aged care can be a challenging time, both for those making the move and families supporting their loved ones. It's understandable that everyone wants to find the most suitable accommodation and the appropriate standard of care, however, it can be confusing to make that choice.

A new star rating system for aged care is giving existing and potential residents and their families helpful insight into the quality and staffing levels of an aged care facility. Four key performance areas covering residents’ experience, staffing levels, compliance and quality measures are each given an individual star rating. These ratings are then combined to provide... view article
March 10th 2023

Guide to aged care at home

As we get older, most of us want to remain independent and in our own home for as long as possible, but this can be challenging without some help with household tasks and personal care.

Recognising this, the government runs a Home Care Packages program where approved aged care service providers work with individuals to deliver coordinated services at home. Approval for a Home Care Package starts with an assessment by the Aged Care Assessment Team (ACAT). Eligibility for a Home Care Package, or other government subsidised help at home, is... view article
September 15th 2022

Testamentary trust

What is a testamentary trust, how it works, and can it help with preparing for an Estate Plan.

In simple terms, to set up a trust, one person transfers property to a second person to be held for the benefit of the third. The person who transfers the property is called the “grantor” or the “settlor”. The recipient of the property is called the “trustee”, and they are the person/entity who take... view article
August 30th 2022

Making sense of allocated pensions

Approaching retirement?

If retirement is on the horizon, you’ve probably heard about an allocated pension (also known as an account-based pension and retirement account) as one of the income stream options available. We’ve answered some of the commonly asked questions about allocated pensions to help you navigate your way. What is an allocated pension? An allocated pension is a... view article
June 24th 2022

Starting the conversation about aged care

Aged care conversations aren't easy - but they're better handled sooner rather than later.

Have you spoken to your ageing loved ones about their plans? When is it time to talk about aged care? How can you start the conversation? What do you need to talk about? Find out the answers here. Don't leave it too late to have an honest conversation about aged care options with your loved... view article
June 3rd 2022

Temporary minimum pension drawdown relief to be extended

In response to record low-interest rates and volatile investment markets, the government has extended the temporary 50 per cent reduction in minimum pension drawdowns until 30 June 2023.

Essentially, this means you could stay on your reduced (50 per cent) pension drawdown amount for FY23 and further preserve your tax-free balance in the pension phase. This must be weighed up against your need for the actual pension income to meet your normal expenses. To learn more about the pros and cons of reducing... view article
April 2nd 2022

Ways to pay for your aged care

When it comes time to investigate residential aged care for yourself, your partner, parent or relative, the search for a facility and how to pay for it can seem daunting. The system is complex, and decisions are often made in the midst of a health crisis.

Factors such as location to family and friends, reputation for care or general appeal are just as important as the sometimes-high price of a room and other fees in residential aged care. Even so, costs can’t be ignored.i   Don’t leave it too late to have an honest conversation about aged care options with your loved ones.... view article
September 8th 2021

How to maximise your Retirement Living and Aged Care options

Our mission is to help people achieve their goals and dreams - no matter which stage of life they are at. This is why we are proud to announce that Invest Blue now offers Retirement Living and Aged Care Planning services.

With Australians living longer than ever before, retirement planning is just as important now if not more than ever before. Planning for retirement can give you the comfort of knowing your future is under control and that you can do all those things you’ve dreamed of for all those years. Moreover, it can help... view article
May 6th 2021

Making Your Wishes Known

While Australia’s handling of the COVID-19 pandemic was among the best in the world, the speed and spread of the illness underlined just how fragile life can be.

It was also a solemn reminder of the importance of ensuring your affairs are in order, so your wishes are met – in life and death. The centrepiece of any estate planning is your Will, which sets out who you would like to receive your assets when you die, and how they are to be... view article
May 5th 2021

How to start the conversation about aged care

Have you spoken to your ageing loved ones about their plans? When is it time to talk about aged care? How can you start the conversation? What do you need to talk about? Find out the answers here.

  Don't leave it too late to have an honest conversation about aged care options with your loved ones.   [caption id="attachment_11952" align="aligncenter" width="700"] Aged care conversations aren't easy - but they're better handled sooner rather than later.[/caption]   Research from McCrindle[1] shows that three in 10 Australians have been involved in organising care for a parent, but often... view article
August 9th 2019

Most older Aussies prefer home care over a nursing home

While nearly nine in 10 say they have a preference, less than five in 10 have discussed their wishes with their family. What about you?

  According to a recent study by McCrindle, nearly 90% of Australians aged 50 and over said they’d prefer to live out their days in their own home, even though most admitted to not having given much thought to what support they’d need in order to do so. i We look at some of the findings... view article
June 24th 2019

Ageing parents

Help them make the most of their twilight years

These days, people live longer and fuller lives than ever before. Our parents and relatives hopefully have long and fulfilling post-retirement years to look forward to. If you would like to discuss your options and how you might manage it from a financial perspective, please get in touch. [ninja_form id=37]   Everyone's circumstances are different and your loved... view article
May 27th 2019

Maintaining Independence: Your retirement living options

What lies ahead in your retirement? How flexible would you like your living situation to be? What options are available near family? What does your family want for you? What kind of lifestyle do you want?

Knowing where and how you'll retire well in advance gives you the time you need to adjust to a new way of living and ensure your retirement will work for you. One of the biggest considerations you'll need to make is your living situation. We've already discussed live-in aged care facilities in our recent blog... view article
March 11th 2019

Maintaining independence: Supported living in Australia

Supported Living; retaining your independence as you grow older.

It's no surprise that as you get older your independence becomes more important to you. Growing up it's a hard-won right, and over your adulthood, it becomes second nature. Protecting your independence is an essential part of retirement, and one of the best ways to do this is to consider your options early. At Invest... view article
January 31st 2019

How to cope with losing independence

If you or a loved one is experiencing a loss of independence, you may be able to maintain a sense of control.

Few, if any of us, look forward to losing independence. In fact, research reveals that 75% of older people feared losing independence while only 29% feared dyingi. It also revealed that 44% were worried about moving into an aged care facility. Whether a physical, social or emotional reason prevents complete independence, it generally brings a... view article
June 12th 2018

The real cost of aged care

Aged care is a reality for many people in the country, but how do you avoid a bad nursing home in Australia and prepare for a different type of retirement?

Australia is an ageing nation. The proportion of the population aged 74 years or over is expected to jump from 6.4 per cent in 2012 to 14.4 per cent in 2060, according to Productivity Commission figures. This change indicates improved life expectancy in the country (which is great), but it also means you may have... view article
August 10th 2017