Researching aged care options and considering the costs can be an emotional, overwhelming topic. That’s why our compassionate team at Freedom Wealth Solutions provide clear advice to help guide your decision-making process. From in-home care to modern care facilities, we can explain your options and make sure your retirement plan is comprehensive. We work with clients in Melbourne, Gippsland, Frankston, Rosebud and throughout the Mornington Peninsula.
Aged care planning involves thinking about what kind of care you would like to receive, how you would like to be cared for and where you would like to live. It’s important to start thinking about your future care needs as early as possible. This will help you make informed decisions and ensure you are prepared for any eventuality.
If you’d like to discuss your aged care options, our financial advisors are here to assist. Call Freedom Wealth Solutions today.
Older adults in Mornington Peninsula have three major aged care options to consider. Firstly, you may choose to remain in your family home under a home care package. This provides you with assistance from support services, while maintaining much of your independence. Another popular option is moving into a retirement village. This is where you live in a self-contained community with other over-55-year-olds. If you require expert care at all times, an aged care facility is likely the best option. Aged care facilities provide accommodation, personal care and nursing care for seniors who can no longer live independently.
Affording aged care usually comes down to an income and asset test. Our
financial advisors at Freedom Wealth Solutions can explain the current requirements and help you make appropriate plans should you require full-time care in your later years. This helps provide you and your family with peace of mind, knowing you’ve prepared for a range of scenarios.
There are a number of fees associated with aged care, such as an entry fee, a daily care fee and a means-tested care fee. The amount you'll need to pay will depend on your individual circumstances.
There is financial assistance available to help cover the costs of aged care. There are a number of government subsidies and benefits available, such as the age pension and the carer payment. You may also be eligible for a means-tested care fee subsidy.
There are a number of things you need to consider before moving into an aged care facility, such as your current and future care needs, the cost of aged care, the location of the facility and the type of accommodation available. You'll also need to think about whether you're ready to downsize your home and move into a smaller living space.
There are a number of benefits of living in a retirement village, such as the ability to downsize your home, the opportunity to meet new people and the availability of social activities and events. You'll also have access to a range of amenities, such as swimming pools, gyms, tennis courts and libraries.
Planning for your aged care requirements can seem daunting—there are many things to consider. That’s why our financial advisors are here to guide you through the process and answer your queries. Here are a few things we can help you plan for:
To find out more, please get in touch to book a consultation.
0421 011 507 (James)
Advisors:
James Marsh and Julia Buckleton -
Freedom Wealth Solutions is a Corporate Authorised Representative of RI Advice Group Pty Ltd
23 001 774 125 (ABN)
238429 (Australian Financial Services & Credit Licensee)
For Australian residents only
The information provided is general advice only. It has been prepared without taking into account any of your individual objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs.
RI Advice Group Pty Ltd, AFSL 238429 an Australian Financial Services Licensee