Three Phases of Retirement
Planning for your retirement can be exciting. To maximise your independence and minimise frailty risk, consider your needs across the phases of retirement.
Retirement planning assumed a constant indexed income which did not allow for higher care needs in later life.
The spending pattern in retirement will vary based on your ability and it looks more like a smile than a straight line.
The Three Phases of Retirement
Source: Australian Institute of Health and Welfare – selected health expectations by age 65, by sex, 2015.
Frailty Risk
Access to government subsidies helps make care affordable. But adequate savings to fund the increasing cost of care opens up choices and allows greater independence and control.
Things to Consider
- 1. How you expect to fund aged care costs?
- 2. What role your home can play?
- 3. The impact of relying on family and friends for support.
- 4. Are you willing to ignore frailty years?
Schedule Your Appointment
Interested in finding out more about Aged Care Financial Advisers? Get in touch if you’d like to find more about our aged care services or need help working out your next steps.
