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A government task force looking into the aged care sector in Australia has recommended that those of us with the financial means should pay for our own living and accommodation costs. This would be a substantial change to what currently happens. Currently, the taxpayer covers most of the expenses for aged care – around 75% of residential care costs and 95% of in-home care costs.
Do you have a partner in life? Are they on the same page as you financially? Do you like having a separate bank account just for you, or does everything go into a big melting pot? Great financial planning should consider the nuance of how money works within different relationships. Many couples have separate finances but still want to plan for a successful financial future together.
Whilst there is often no single cause for market volatility, there are some conditions that can lead to it. In recent times, we have seen concerns about when interest rates and inflation, the perception of a housing market bubble, and instability in global affairs affect the ability of investors to obtain a reliable picture of the future. While these kinds of stories are not new and may not have triggered the recent stock market fall, they are some of the forces at play in the current market turmoil.
The type of concession card you may be eligible for is based on your age and circumstances. A Pensioner Concession Card (PCC) is issued to pensioners, a Low Income Health Care Card (LIHCC), is issued to someone on lower income, regardless of their age, and a Commonwealth Seniors health Card (CSHC), is available to someone who is above age pension age and doesn’t qualify for any social security payment.
It feels like the investment world has been listening to the Hedgehoppers Anonymous 1965 song lately; where good news is bad and vice versa. One can be forgiven for having to ponder why investment markets have moved in unexpected directions this year. I’ve seen equities rise on news that we’re going into a recession and defensive investments being sold off because a recession isn’t happening quickly enough. Isn’t a recession bad? Don’t shares fall and bonds rise on bad news? Well, maybe, but it’s only part of the picture…
During our recent radio show on 5AA (every second Thursday at 3pm), we outlined some of the implications of extending work beyond 67 on the Age Pension. The day after purchasing a coffee, I overheard a group of workers discussing the radio show. Whilst it was heartening to hear, the person leading the talk was instructing his companions on the specific course of action they should adopt. Regrettably, his recommendations were based on his own circumstances.
Do you ever have times in life where your stomach ‘knots’ and you really can’t understand why? I know I do!! In those situations, I find myself ‘processing’ the feelings/emotions with someone to work through and understand what’s going on. I often see this with clients, particularly those who are looking at retirement. It’s an anxiety/concern/uncertainty that has probably never surfaced before, as most of us only retire once.
Join us as we celebrate 30 years on radio with FiveAA Thursday 29th March at 3pm. Our advisers now join the fabulous Jade Robran every second Thursday at 3pm to shine a spotlight on financial planning topics and answer your questions. We are now being live-streamed via Facebook and Twitter. Follow the link on the FiveAA homepage.

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Latest insights

With the end of the financial year quickly approaching, now is the perfect time to review your superannuation contributions with your adviser!
A government task force looking into the aged care sector in Australia has recommended that those of us with the financial means should pay for our own living and accommodation costs. This would be a substantial change to what currently happens. Currently, the taxpayer covers most of the expenses for aged care – around 75% of residential care costs and 95% of in-home care costs.
Being a single woman comes with its unique set of challenges, especially when it comes to managing finances. Whether you’re single by choice, divorce, or loss, taking control of your financial wellbeing is essential. In this blog, we’ll explore practical advice tailored specifically for single women to achieve financial independence and security.