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22 November 2024
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The Government has finally released the Aged Care Taskforce Report which contains 23 recommendations to reform home care and residential aged care. The report pinpoints who should pay for the increasing cost of aged care.
The costs of aged care will only continue to increase as the Baby Boomer generation moves into their frailty years, increasing not only the demand for services but also higher consumer expectations around the quality of service.
To support a better aged care system appropriate to the needs of all Australians, critical changes are needed including a new financing approach. The current system has failed seniors, carers and providers for years.
When someone moves into residential aged care, they are assessed based on their assets and income. An important change is coming on 1 July 2020 that clients and their advisers should understand.
Aged care should not be narrowly defined, as opportunities include home care, granny flats, retirement villages, land lease communities and residential aged care. Take advice and don't rush it.
Aged care measures announced in the Budget go only part of the way to improving the system. With a waiting list for Home Care packages exceeding 100,000, we need more effective change.
Moving to a retirement village is a major event in an elderly person's life. The contract should not be treated casually as the retirement village will impose conditions which the retiree and family should understand.
The primary objective of the aged care reforms starting on 1 July 2014 was to create a better system giving older people more choice, more control and easier access to aged care services. There are unintended consequences.
The final of our series on aged care in Australia covers aged care facilities. More than a third of men and half of women who reach 65 are expected at some point to live in aged care. Understanding the recent reforms is key.
Important changes to aged care costs come into effect on 1 July 2014. They highlight the importance of having the financial flexibility to make the system work in your favour.
Understanding aged care accommodation and the cost is an absolute minefield. The aged care rules are changing on 1 July 2014, and many people have four months to make plans before they are hit by higher costs.
Anyone who has tried to understand the costs of residential aged care knows how complex it is. Here are tips to navigate the aged care minefield.
It’s with heavy hearts that we announce Firstlinks’ co-founder and former Managing Editor, Graham Hand, has died aged 66. Graham was a legendary figure in the finance industry and here are three tributes to him.
There are well over 800,000 family trusts in Australia, controlling more than $3 trillion of assets. Here's a guide on whether a family trust may have a place in your individual investment strategy.
Investing guru Howard Marks says he had two epiphanies while visiting Australia recently: the two major asset classes aren’t what you think they are, and one key decision matters above all else when building portfolios.
Berkshire Hathaway’s third quarter earnings update reveals Buffett is selling stocks and building record cash reserves. Here’s a look at his track record in calling market tops and whether you should follow his lead and dial down risk.
How have so many wealthy families through history managed to squander their fortunes? This looks at the lessons from these families and offers several solutions to making and keeping money over the long-term.
A recent ruling from The Australian Financial Complaints Authority may herald a new era for financial scams. For the first time, a bank is being forced to reimburse a customer for the amount they were scammed.