How can an Aged Care Adviser help?
The real reason behind the growing demand for Aged Care Financial Advice
Preparing yourself or a loved one to enter residential aged care can be a difficult, stressful time. On top of this, the process comes with some financial challenges and important decisions that need to be made.
Completing all the necessary paperwork, trying to organise how to pay aged care fees, and organising pensions and income can take a huge toll. But you don’t have to face it alone.
An Aged Care Financial Adviser can help deal with complex financial issues and help you to make smart, informed financial decisions.
Australia’s ageing population means that more and more people are moving into aged care every day.
The need for aged care is growing.
Plus, with the ever-increasing complexities around legislation, more retirees are seeking financial advice to help them cost-effectively and smoothly make the transition. With an ageing population comes an increase in the number of people who will require aged care services, and therefore aged care advice.
According to Aged Care Steps, by the age of 65, over half of the population will need to access aged care services for the future1:
- Females are 68% likely to need aged care in their lifetime
- Males are 48% likely to need aged care in their lifetime
If you, or a loved one, are planning to make the move to residential aged care, professional aged care advice can save you time, money, stress, and so much more.
3 benefits of engaging with an Aged Care Financial Adviser:
1. Help compare costs for different care options.
Aged Care can be overwhelmingly expensive. It’s also difficult to know the differences or advantages of each facility.
Seeking help from an aged care financial adviser can help to compare costs from different facilities. Further, an adviser can help develop a plan for how these costs can be financed and optimise your financial situation and achieve your goals.
Everybody has different needs and requirements when it comes to aged care. At CCFPG, our Accredited Aged Care Advisers can work with you to find the right option for you.
2. Minimise ongoing fees and maximise your Centrelink entitlements
Moving into aged care can be an overwhelming and completely unfamiliar process.
Aged care advice can provide you with the appropriate information to help you negotiate with aged care facilities, in order to secure a preferred facility, placement, and associated fee.
One important part of Aged Care is optimising the financial support you receive from the Aged Pension.
You may also like to consider how you can efficiently structure your existing investment assets to fund your aged care fees. If you already have an existing investment portfolio, it is especially important to review the structure of your portfolio to ensure it is still applicable for a new living situation. Further, you may like to consider your options with the family home.
Of course, everyone’s financial situations are unique. A financial adviser can help to understand your financial circumstances and help you create a personalised financial plan to make the most of your finances.
3. Make the transition process simple, and enjoyable
Arguably the most valuable benefit that an aged care financial adviser can bring is to make the transition and planning process smooth and pleasant.
A financial advisor can help you focus on the information and issues that are important to you and your financial situation.
Aged Care Advisers are extremely knowledgeable and familiar with the process of moving into Aged Care. They can also help you prepare for costs that you may not have considered previously to ensure you are best prepared and financially secure.
With all the paperwork and new rules that you have to keep up with, an Aged Care Adviser can help to support you and guide you every step of the way.
Meet Rosie
At CCFPG, Rosie Copp is our Accredited Aged Care Specialist at Central Coast Financial Planning Group. Rosie has extensive knowledge of the costs and facilities of several aged care facilities on the Central Coast.
When Rosie supported her mother to transition into assisted living, it opened her eyes to how much potential there was to make a huge difference in people’s lives.
Having gone through the process with her own mother, Rosie understands how emotionally challenging the situation can be. Her one and only goal for those moving to Aged Care is to ensure they get the best possible care while remaining financially secure.
With compassion and expertise, Rosie is passionate about providing quality, personalised aged care advice to people on the Central Coast.
If you, or someone you care about, is moving into residential aged care on the Central Coast, seek professional financial advice to give you peace of mind.
Book an initial appointment with Rosie.
We have offices located in Central Coast – Erina (CCFPG), Newcastle – The Junction (NFPG) and Sydney CBD (SWA). You can book online or call our office on 02 4323 2877.
REFERENCES
1. https://web.archive.org/web/20210511050845/https://agedcaresteps.com.au/resources/why-aged-care/
Disclaimer: The views expressed in this publication are solely those of the author; they are not reflective or indicative of RI Advice Group’s position and are not to be attributed to RI Advice Group. They cannot be reproduced in any form without the express written consent of the author. This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice. Newcastle Financial Planning Group, Central Coast Financial Planning Group, Sydney Wealth Advisers, Coastal Advice Port Macquarie and Coastal Advice Ballina Byron are subsidiaries of Coastal Advice Group which is a Corporate Authorised Representative of RI Advice Group Pty Ltd, ABN 23 001 774 125 AFSL 238429.
