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Midlife Money Matters


Sep 15, 2023

Part 3 of our series about Retirement Living options

What are the Issues and Costs of a Move into an Age Care Facility

We understand and acknowledge this is or can be an emotional topic. Both Jacqui and Ingrid have been through this with their parents - so we understand completely

You may have read and heard about residential age care in the media.

Most people are quite resistant to going into care.

However there are a lot of really good age care homes in Australia with very caring dedicated staff.

If people are on their own at home and not managing they are often not getting the correct medical care, likely not eating properly or maybe not looking after themselves as well as they had been when they were younger.

Older people are also very susceptible to having a fall or a medical event and no one being notified to get them help.

We talk about: How do you find a suitable age care facility?

and

What are the fees involved? Jacqui explains:

There are 3 different fees payable, sometimes 4 as some facilities have an extra services fee for things like wine with dinner, better meals, streaming services etc.

In this episode we give an overview of the 3 main fees and how they are calculated

This is an important episode if you are in a situation where you have a loved one who is reaching the stage of considering Aged Care. 

We understand and acknowledge this is an emotional topic. Both Jacqui and Ingrid have been through this with their parents 

Access My Aged Care - click here

 

Financial Disclaimer:

We need to make it super clear though that we will NOT be providing personal financial advice to listeners, but just providing general advice on these topics based on our knowledge and experience.