Pinnacle Services

Aged Care

We plan ahead for many aspects of our lives, but few people plan for future aged care needs. Now is the time to change that trend.

The truth is, most of us avoid thinking about our own future aged care needs, delaying our decisions until perhaps they’re taken out of our hands.

Life expectancies are increasing. This means not only might we expect to live longer than our parents and grandparents, but we might also expect longer and more active retirements. However, this does not remove the possibility that we may need help with daily living and medical care in our older years.

If we reach a point when we are increasingly vulnerable, we don’t want to be left unprepared.

Planning creates peace of mind

Planning for our retirement, as we dream of travel, cruise ships and caravans as well as more time playing with the grandkids, can be quite enjoyable. Perhaps that’s why we put off planning for our aged care needs – it’s not as much fun to think ahead to a time when we might need more support.

But with the right advice, planning ahead offers many benefits and can be easier than you think. Benefits may include:

Creating a plan that will work for you includes consideration for what sort of life you want to live and what makes a good life for you. This should take into account options for where you could live but also how to continue to your interests and stay connected to family, friends and your community. Understanding the costs and planning your finances is a key component of making the plan work effectively.

Don't leave it To Late

Don’t leave your planning too late. We have helped many of our clients to start the planning process and often discuss when and how to bring your family into this process.

If you’re ready to start the conversation, call us on 03 5820 9100 and let us work with you to create a plan for all of your retirement.

Frequently Asked Questions:

Your adviser can help determine how to pay for your accommodation as each applicant’s fees differ based on their asset and income positions. The upfront costs may involve a lump- sum payment, regular instalments or a combination of both. Depending on your situation, an adviser will be able to recommend the most cost effective way to pay for upfront aged care fees.
Purchasing an income stream, retaining or selling your home, and how you pay for upfront fees can all have a direct affect on ongoing expenses. The correct strategy may ensure that you keep your Age Pension and reduce the expenses associated with aged care.
The choice of investments made can help you access or retain government benefits. The decisions you make regarding your home, investment strategy and how you pay upfront aged care fees can also impact your Age Pension.
Everyone’s situation is different and tax implications may or may not affect you. Your adviser will be able to assess your circumstances to ensure there aren’t any significant tax implications.

When considering a transition into Aged Care, you should first consider talking to either Linda Meates or Ainslie Boylan. Both have the personal touch when it comes to understanding what a stressful time this can be in one’s life.

For personal advice with professional expertise, contact Pinnacle Financial Planning.

We offer you a full range of financial planning and investment services, including:

Can we help you achieve a better financial future?

Reach out to us today and get a complimentary consultation.