We plan ahead for many aspects of our lives, but few people plan for future aged care needs. Now is the time to change that trend.
The truth is, most of us avoid thinking about our own future aged care needs, delaying our decisions until perhaps they’re taken out of our hands.
Life expectancies are increasing. This means not only might we expect to live longer than our parents and grandparents, but we might also expect longer and more active retirements. However, this does not remove the possibility that we may need help with daily living and medical care in our older years.
If we reach a point when we are increasingly vulnerable, we don’t want to be left unprepared.
Planning creates peace of mind
Planning for our retirement, as we dream of travel, cruise ships and caravans as well as more time playing with the grandkids, can be quite enjoyable. Perhaps that’s why we put off planning for our aged care needs – it’s not as much fun to think ahead to a time when we might need more support.
But with the right advice, planning ahead offers many benefits and can be easier than you think. Benefits may include:
- Peace of mind for you and your family
- Taking pressure off family when a crisis occurs
- Allowing you to have a voice, and
- Avoiding costly mistakes.
Creating a plan that will work for you includes consideration for what sort of life you want to live and what makes a good life for you. This should take into account options for where you could live but also how to continue to your interests and stay connected to family, friends and your community. Understanding the costs and planning your finances is a key component of making the plan work effectively.
Don’t leave it too late
Don’t leave your planning too late. We have helped many of our clients to start the planning process and often discuss when and how to bring your family into this process.
If you’re ready to start the conversation, call us on 1300 855 849 and let us work with you to create a plan for all of your retirement.
– Fowler’s Financial Planner, Amanda Golder
Listen to our Aged Care Podcast as the Wealth Radar boys pick her brain and find out how she can help you and your family make those tough decisions that need to be when it comes to Aged Care.
