Your aged care needs through three phases of retirement.
Plan for all three phases – the active years, the quiet years and the frailty years.
Planning for all of retirement.
Retirement spans three distinct phases, and each brings different opportunities, challenges and needs. Seek aged care advice and plan for all three - the active years, the quiet years and the frailty years.
Don’t just plan for the fun times. On average, you could expect the frailty years to span 15-25% of your retirement years – bringing the need for increasing levels of support and care in these years.
This care may help you to stay in your own home and live independently, or if more help is needed, it may be provided in a residential environment.
Planning ahead for the frailty years.
You might not want to think about getting older, and your increasing frailty. But planning for these times – the options available and how to pay for care – can make all the difference to your quality of life. Think about what's important to you. Include your family in the conversation so your views are heard and allow your family to talk about their concerns to work out:
What aged care options are preferred
How you will fund aged care costs
The role of your home in meeting aged care needs – what modifications may be required in the future for it to remain safe and accessible for you; or whether you are willing to access the equity in your home to provide you with extra income or capital to pay for care and modifications
Your ability to rely on family and friends to provide support
You can save significant dollars and stress by working with an aged care specialist. Check if your financial adviser is an Accredited Aged Care Professional™. Or contact us for aged care personal advice to help you make an informed decision.
If you need aged care now.
If you need care now, or your older parents need care, it is definitely the time to seek aged care personal advice for help with what it will cost and financial decisions.
The good news is that the government subsidises both at-home and residential care services, to make care more affordable. But financial advice can help you avoid costly mistakes, identify options to stretch your money further and get you started quickly.
The government's MyAgedCare website is the place to start to search for care providers in your area – and compare the prices. While you are there, you can also start the process to get an aged care assessment to access subsidised care. Or call MyAgedCare on 1800 200 422.
If you have an urgent medical need, contact your doctor or call 000 for an ambulance.
Are you prepared for retirement?
No-one likes to talk about getting old, but when you or your family member need aged care, there’s no avoiding it. Download our brochure 'Are you prepared' to help you make the right decisions for your situation, and then contact us for more information.