As you near your twilight years, it may be the perfect time to start discussing with your loved ones a transition plan for your post-retirement years and what that looks like to you.
There’s no denying that when it comes to ageing, requiring assistance is necessary and perfectly normal. We all get to a point where we need support, however, it can be difficult to know what the next steps are.
You may want to sit down and discuss with your loved ones all your aged care options so they are just as aware as you and can understand the processes should they need to act on your behalf. For any financial matters that arise within these options, it’s a good idea to speak to a financial adviser who specialises in aged care planning.
Here are 3 aged care options to discuss and consider with your loved ones:
1. Home Care
This helps people remain in their homes but assists with daily chores and maintaining the home. This service allows you to maintain independence, with support.
Home Care is a comprehensive long-term care solution that combines the best of home and communal living.
Home Care offers retirees a range of assistance through services such as personal care, respite care, transportation, and social support. This is an excellent option for those who wish to stay living in their own home, but need the extra support to maintain healthy living.
If you are considering Home Care for yourself, then you may want to seek advice from a financial adviser who specialises in aged care financial planning. They can help you navigate the aged care fees that would apply within this option and provide you with all the relevant and up-to-date information that is included in this option such as the waiting lists that can occur for home care services.
2. Retirement Villages or Assisted Living Communities
If you are looking for a more affordable long-term care solution, you may want to consider a retirement village or assisted living community. This aged care option usually offers a range of accommodation options, services and facilities for retirees.
Some retirement villages provide a range of social and recreational activities in the village, allowing you to maintain an active and social lifestyle.
There are various types of retirement accommodations to choose from so you can choose the one that suits you and your financial circumstance best. You may even be able to choose a retirement village that is located close by to an aged care facility allowing you to transition easily when needed.
3. Aged Care Facilities
Aged care facilities are best suited to those who begin to be unable to live independently and require more support as they reach their twilight years of life. There are many aged care facilities to choose from in Australia, however, it may be beneficial to find a facility located close by to your loved ones so they can visit you when desired.
Seek Financial Advice For Aged Care Planning At Hyland Financial Planning
There is no need to worry about your future as a retiree. A comprehensive range of long-term care services are available to enhance your senior years, especially in Australia. With these services, you can feel well supported whilst still maintaining your independence.
Hyland Financial Planning offers aged care financial advice to help you and your loved ones navigate the complexities of aged care and create a personalised financial plan to help secure peace of mind. Aside from checking our clients’ options, we also handle their concerns in terms of estate planning in Sydney or Hornsby.
Talk to one of our financial consultants today and get more out of your retirement in the future.