No-one likes to talk about getting old. But at what age should you start thinking about your aged care needs? The answer is simple – any age is a good time. This is regardless of whether you are in your early retirement years or well into retirement.
If you are lucky enough to still have your parents, starting the conversation with them while they are still healthy is also sensible. They might not be thrilled that you’re raising the subject but it gives your parents an opportunity to think about what is important to them and give you some instructions, so you have something to guide you if you need to make choices for them in the future.
Don’t accidentally fall into either of these traps:
Making an informed decision about aged care is incredibly important. Making the wrong decision can have far-reaching consequences for the whole family. When aged care decisions go badly, the stress can lead to family conflicts.
However, not all advice is good advice. Aged care financial advice is a specialist area. The rules change constantly, as do the available strategies. You don’t need extra stress wondering if you’ve received quality advice!
At Exant Advisory, we specialise in aged care advice and have the experience to help you to plan for current or future needs. For further information please contact our certified aged care specialist, Clive Todd. Alternatively, you can also speak with your usual Exant Advisor on 07 3218 3900.