For Expert Pension Advice in Newcastle, Contact Elliot Watson
Aged care is something that most people don’t like to think they will need; it signals a loss of independence and can be hard to comprehend. But the reality is most of us will need some sort of care toward the end of our retirement.
For those that need aged care it can be a difficult and emotional time both for them and their families. It is a time when many important financial decisions need to be made. Adding to this difficulty is the complexity of the financial aspects of aged care. It can leave you asking many questions such as how will it affect my age pension? What are the aged care costs? Will I still have disposable income for day to day expenses? Will the proceeds be passed on to my loved ones? How will it affect my super?
Elliot Watson Financial Planning can help you to understand the complex aged care system. Like with most things, it is best to be prepared ahead of time for aged care; not just thought of when it is immediately required. In the best case, aged care should be considered as part of your retirement plan, ensuring that your time in aged care is as financially comfortable as possible. When considered in advance, we can effectively plan for:
- The type of care you can afford
- The associated costs of care
- How to maximise Centrelink pension and any other entitlements
- How to best manage your family home and other relevant assets
Contact us to discuss your options. Even if you’re already in aged care we can help you to ensure you are as financially comfortable through this stage of your life as possible.