Aged care. It’s what a lot of us put on the backburner until an elderly loved one, or even ourselves admit to needing assistance.
Many of us will live to a ripe, old age, so it’s necessary to think about that, when we’re well into retirement and mobility and our health declines.
Fortunately, it’s never too early to start aged care planning – be it for yourself, or helping an elderly loved one in accessing support.
Want to know more about aged care planning? Read more from an aged care specialist and Gold Coast financial planner at Crest Wealth, to find out.
What is aged care?
According to the Australian Government’s Department of Health, aged care is this:
“…the support provided to older people in their own home or in an aged care (nursing) home. It can include help with everyday living, health care, accommodation and equipment such as walking frames or ramps.”
Aged care is different for every Australian, with as much or as little support being required to suit our older generations’ lifestyle, mobility and overall wishes.
Based upon 2018 World Bank data, the life expectancy is 82.75 years in Australia. This alone shows how important aged care support and services is now, and in the future.
It’s never too early to start thinking about aged care planning for a loved one, or perhaps that of your own. But where do you start? With an aged care specialist and Gold Coast financial planner.
Why work with an aged care specialist?
Making rash decisions in the middle of a crisis is rarely a happy, well-thought-out decision. However, it’s unfortunately the decision made by many families in the middle of a health crisis of an elderly loved one.
Lyn Walker, an aged care specialist, understands this and is more than happy to provide more clarity to Crest Wealth readers.
Lyn says, without preparation, we lose choice. So, let’s talk about questions that need to be asked, answered and what jargon needs to be understood.
- What type of care is needed? Short term, as in respite, support within the home, or permanent residential aged care in a facility?
- Where should you start looking for aged care facilities (if applicable)? One that is close? one that has caring staff?
- What Government assistance is available? Will it affect existing Centrelink benefits?
- How much will this cost? Should you pay a refundable accommodation deposit (RAD) or a daily accommodation payment (DAP)?
There’s many factors and components to consider in aged care planning, and it’s normal to feel a little lost. Fortunately, you can start aged care planning with your Gold Coast financial planner.
How a Gold Coast financial planner can help
The Gold Coast financial planner team at Crest Wealth are here to help in whatever stage of life you are in. If it’s not for your own aged care planning just yet, perhaps you need financial planning assistance for an elderly mother and/or father?
Remember, aged care planning should be considered from the age of 70.
Talk to Crest Wealth about aged care planning and we can get you in touch with a professional and experienced aged care specialist like Lyn Walker.
Need financial planning for aged care?
Contact Crest Wealth today to understand the available support and financially plan for your future.
Disclaimer: The information contained in this news post is general in nature and is intended to provide a general summary only and should not be relied on as a substitute for professional advice.