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- 13 AprDealing with the Isolation
Financial concerns are not the only fallout from the Corona Virus lock down period for aged care residents. We’re constantly told, that our best defense against the spread of the virus is “social distancing,” a term we were unfamiliar with just a few short weeks ago. But this will naturally hit aged care residents the […]
- 10 AprSelling your home to enter Aged Care
Many people moving into aged care choose to either sell or rent their former home to help pay their fees, in particular the large upfront Residential Accommodation Deposit. But now, more than even, may be a very difficult time to sell the family home. Social distancing rules have stopped auctions and open houses. Job uncertainty […]
- 09 AprReduction in account-based pension minimums
As you probably know, capital losses from falling share prices are realised only if the company goes into liquidation or the shares are sold. Leaving investments intact may well offer the best chance to rebuild balances when markets pick up again, as they eventually do. But, this holding pattern can be hard for older people […]
- 06 AprWhat do the Deeming rate cuts mean?
Interest rates have been falling a lot faster and a lot longer than deeming rates for Centrelink and Veterans’ Affairs recipients, making it practically to even earn the current deeming rates from bank accounts. Higher-risk investments (in better markets) may potentially produce higher returns, but these are often not appropriate for people in aged care and can […]
- 28 JanBreak free from being asset rich and cash poor
Here are four ways to try to boost your income…
Are you asset rich but cash poor? Turns out, you’re not alone. Data from the ABS (Australian Bureau of Statistics) shows that almost one-third of older Australians in low-income households were asset rich but cash poor. Most wealth is tied up in illiquid assets, in particular the family home.
But you need not scrape by on so little. There are ways to try and boost your income.