Aged Care Advice

Financial Services

Retirement Lifestyle Planning

We’re struggling to find meaning for life after work.

Beyond working for money everyday, you now need to find purpose beyond finances. You need to plan the second half of your life built of meaning and fulfillment.

What Is Aged Care Advice?

We love helping to ensure financial planning for elderly parents for future

Aged care advice involves helping clients to make informed decisions with confidence when it comes to accessing aged care for a loved one or themselves.


It includes helping clients with: 

  • Planning well ahead of time for aged care needs 
  • Knowing where to start & what decisions need to be made 
  • Navigating through the process of moving into residential care or accessing home care 
  • Finding solutions that work for the family as a whole 
  • Understanding the choices for structuring finances & estate planning 
  • Providing guidance to make informed decisions during difficult times 


Aged care advice is best provided by a professional who understands the aged care system and can offer tailored solutions to each client. At Aged Care Advice Central West, our financial advisors can provide the advice and support you need to make the best decisions for your loved ones in Dubbo, Orange, Bathurst and surrounds.

When Should You Start Thinking About Aged Care?

Any age is a good time to start thinking and planning for aged care, regardless of whether you are in your early retirement years or are well into retirement. 


The need for care can arise suddenly or result from a more gradual decline in capabilities. If you are in good health, aged care is probably not on your radar. But this is the best time to have the conversation–you’ve still got capacity, and you’re not in panic mode. 


Or, if you’re lucky enough to still have your parents, starting the conversation while they are healthy is definitely sensible. They might not be thrilled that you’re raising the subject, but it gives an opportunity to find out what is important to them when choices need to be made. It can be challenging to bring up the subject of aged care—whether you’re talking to your parents or other family members—but it’s important to have the conversation sooner rather than later.

Don’t Accidentally Fall Into These Traps

You may believe that you don’t need to start thinking about aged care until you or a family member needs it. But this can be a mistake. There are two traps that people regularly fall into if they don’t start planning for aged care early enough:

  • 1. Leaving it too late to have the conversation

    Once Mum or Dad can’t return home from the hospital, you’re in crisis mode. This is not the best environment to make life-changing decisions for anyone.

  • 2. Thinking it will never happen

    Unfortunately, the statistics say otherwise. On average, we can expect to live 17-25% of our retirement with a frailty that may threaten our ability to live independently without care. With those odds, planning ahead is vital.

You may believe that you don’t need to start thinking about aged care until you or a family member needs it. But this can be a mistake. There are two traps that people regularly fall into if they don’t start planning for aged care early enough:

Aged Care Advice

Plan ahead, make informed decisions about your finances and get the most out of your retirement years with our aged care financial advice services in Dubbo.

Client Education

Understand the different types of aged care and what is available to you. We can help you choose the right aged care facility and services to suit your needs and budget.

Ask us your questions about retirement lifestyle planning.

Why is it such a big deal? What should I be planning for? What happens when all the travelling is over? What’s going to happen when I can no longer do the things I normally do? 

Let us inform you of all you need to know about retirement lifestyle planning.

You need to consider life after work and purpose for living. Some retirees feel the compulsion to return back to work to find meaning activity. Retirement needs to be prepared for, budgeting for travel, hobbies, healthcare, downsizing or relocating.

Allow us to assist you in building an aged care financial planning

We love helping to ensure financial planning for elderly parents for future

Beyond your financial plan, allow us to assist you in setting your retirement lifestyle goals, looking at all your options, the costs, and bribing it all together in a individualized financial plan in aged care that ensures you have a meaningful and fulfilling retirement.

Accommodation

There comes a time when the house feels empty and we’re thinking of moving closer to family. We call this ‘downsizing’ and there advantage to some to make a ‘down sizer contribution’ to super from the sale of your house. This then lets you top up your retirement savings. There are financial strategies that increase the age pension. Perhaps you have heard of the ‘granny flat’ option. Have you thought about putting your name down on the waiting list of the age care home you would want to go to if you had to? Without cultivating your options for your choices are limited.

Role of aged care accommodation in elder care financial planning

Families that plan ahead for the future possibility of age care are the most successful in reducing the immediate and long-term costs. Without planning the need to move into a home is a crisis and we have limited choice. All of a sudden family has to come up with the accommodation deposit of $470,000 (the average), care fees and ongoing means tested fees. Common question asked is ‘will we have to sell the family home?’ We can assist you with your planning so if it happens you know your options, the fees and how best to pay the fees.

There are three phases of retirement

The first phase is called the ‘busy years’ when as a couple we intend to do a lot of travel, overseas, around Australia. The second phase is the ‘quieter years’ when all the activity is over and we settle down into a more sedentary lifestyle. The last phase is ‘frailty years’ when we can no longer what we used to dos no longer look after myself. I may need to mover into age care accommodation. A good retirement plan considers all three phases.

Age Care accommodation

Most of us are in the crowd that says “it’s not going to happen to me.” Statistically it will happen to me. So much pain is caused where families don’t plan for the possibility. It’s important to know you options, how to stay at home for as long as you can, the costs of age care accommodation and how will you pay for it if need be.

Psychological struggle

Stories abound of retirement turning in a disaster. Some will return to work. Some admit starting to drinking heavily. When our job is who we are, without the job we struggle. We must find meaning in retirement. My personal opinion is it should be a celebration of life, given all that we have achieved, and the legacy we will leave. What is the legacy you will leave? 

Book a Consultation

Have a question? We’re here to help. Send us a message and we’ll get be in touch.

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