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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.
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.
The last 3 years in markets have been a challenging time, first came COVID and then the Russian invasion of Ukraine, it’s hard to see the light at the end of the tunnel. Household consumption is the primary force behind economic growth and it’s been experiencing a difficult combination of soaring mortgage rates, increased living expenses and persistent inflation. Together, these things are causing a decrease in disposable income. These strains are likely to persist for a while yet and are causing the short-term fluctuations you might be seeing in your portfolios, depending on your level of share exposure.
At its October meeting, the Reserve Bank of Australia (RBA) left the cash rate on hold for the fourth meeting in a row at 4.1%. The pause in interest rates over the last four months comes after the biggest interest rate increase cycle (400 basis points over 14 months) since the late 1980s. The rate increases since April last year mean that a variable rate borrower with a $600,000 mortgage will have seen around $1,300 a month added to their mortgage payments. That’s $15,600 a year!
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…

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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.
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.