Renting out the family home to cover aged care costs has both benefits and drawbacks.

The MPIR Rate Set by the Government Has Increased from 8.34% to 8.36% for the Calculation of the DAP for Aged Care from July to September 2024

Australia's aged care system is a complex landscape that requires a nuanced understanding, especially when considering its financial implications. As the population ages, more Australians find themselves navigating the intricate web of aged care costs and their subsequent impact on the Age Pension. Recognising how these costs interplay with your pension can be pivotal in ensuring financial stability during your twilight years.

This blog post aims to demystify the concepts of RAD (Refundable Accommodation Deposit) and DAP (Daily Accommodation Payment), providing you with the knowledge needed to make informed choices.

Homeownership arrangements are not always simple. They may not involve a single person or a couple owning the family home. Other homeownership arrangements can change the Centrelink/DVA and aged care assessments of the family home.

As Australians age, the financial burden of aged care becomes a significant concern. Equity release offers a viable solution for many, allowing homeowners to tap into the value of their property to fund their care needs without the need to sell their beloved home.

In Australia, the maximum permissible interest rate (MPIR) plays a significant role in determining the cost of aged care accommodation for residents.

Dementia, a condition characterized by a decline in cognitive function, can significantly impact an individual's daily life and sense of independence.

In the realm of aged care, home care stands out as a beacon for those seeking to maintain their independence in the comfort of their own home.

On Monday, 11 March, the government unveiled the long-anticipated final report from the Aged Care Taskforce, marking a pivotal moment in the ongoing discourse surrounding aged care reform.

In this blog post, we'll break down the different types of aged care fees and explain how each is impacted by the current economic climate.

Planning for aged care can feel overwhelming, especially when managing your superannuation alongside other financial considerations. In this blog post, we'll provide a clear and concise guide to handling your superannuation in aged care. We'll…

Growing older is a natural part of life, but for many Australians, the thought of needing aged care can be daunting. Planning ahead for aged care can make a world of difference, both for you and your loved ones.

Whether it's home support or residential care, the costs can be substantial. Navigating the aged care system and ensuring its affordability can feel daunting.

Entrusting a substantial sum of money to secure a place in residential aged care may seem daunting, but understanding the intricacies can unveil financial benefits and savings on fees.

Aged care services can be essential for older adults who need help with daily activities, such as bathing, dressing, and eating. However, accessing aged care services can be difficult, especially for those with limited financial resources or who live in rural or remote areas.

The cost of aged care in Australia is rising, and many people are looking for ways to fund their care without having to sell their home or rely on government assistance. One option is to use your superannuation.

Downsizer Contribution vs Aged Care Products Aged care financial advisers are often presented with intricate scenarios and diverse client needs. Two primary considerations frequently arise when advising clients on financing their aged care—…

In this article, we will delve into the specifics of the Intergenerational Report and why it's crucial for you to consider aged care planning now rather than later.

In this blog post, we'll explore the key components of healthy ageing, the importance of financial planning for seniors, ways to ensure your financial security in retirement, and how to fund aged care services if and when they're needed.

In this blog, we’ll explain how home care packages work, who is eligible, and what the funds can be used for.

This blog post is aimed at providing valuable insights to help you avoid common mistakes and make the best choices for your aged care needs.

In this blog post, we will explore effective strategies to maximise your Age Pension payments while staying within the legal and financial boundaries. By employing these techniques, you can potentially increase your pension and enjoy a more comfortable retirement. 

In this blog post, we will explore various aspects related to quality of life in aged care, ranging from the importance of social activities and nutrition to the impact of mental health and end-of-life care.

This blog post will compare and contrast in-home care and residential aged care to help families in Australia make an informed decision.

In this blog post, we are going to provide advice on options that may work for those who need or want to move out of their former residence including selling, renting out, gifting and keeping it as an asset possibly for future generations of your family.

In this blog post, we will explore the different types of residential care facilities, including nursing homes, assisted living facilities, and care homes for the elderly. Whether you're searching for "nearest care home to me" or interested in learning about "residential aged care," this guide will help you understand your options.

In recognition of the rising costs associated with aged care, Services Australia has adjusted rates and thresholds - effective from 20 March.

Christmas is a time for family, and the New Year is a time for setting goals and making positive changes. Combining the two can be a great way to ensure that your loved ones are taken care of and that everyone is on the same page about what the future holds.

In this blog post, we'll outline some of the ways in which an aged care consultant can help you and your loved ones make the most of this important stage in your lives.

If you're like me, you have a loved one who is getting up there in years. Maybe they even live with you. You've probably thought about what would happen if something happened to you and they were left alone. That's where short term respite care comes in. 

Moving into residential aged care is a move to a new home. Even though this is not a home you are buying, if you think about it in terms of a property transaction it might help you to build a checklist to make the right choice. 

In Australia, if you have a lot of money, you can't get help paying for home care. That's because the government only offers subsidies to people who are judged to be "assets test positive."