Everything You Need To Know About Aged Care Financial Advice


When you are going to be investing in something that you aren’t completely tuned into, it is important that you seek the proper guidance so that you make an informed decision. The same can be said for your living situation when you get older which is why you should seek aged care financial advice.

These services provide you with the information necessary to make the most informed decision so that you won’t be hit with any surprises when it comes down to moving out of your home and into a nursing facility. Below we are going to explore everything you need to know about aged care financial advice and why you should be getting it.


The role of an aged care financial advisor

An aged care financial advisor helps you focus on the facts of your own situation so that you can put a plan in place to combat the things that mean the most to you. Everyone’s needs are different which is why a aged care financial advisor will tailor their services to you and your needs so that you are getting the best possible outcome. Finding out what is important to you and what your economic situation is will ultimately determine what type of facility you will be going to.

It is important that you find the right aged care financial advisor for you. A quick Google search with hundreds if not thousands of results. When you are choosing your professional be sure to ask them some of the following questions;

  • What qualifications do you have?
  • Do you specialise in dealing with aged care financial advice?
  • What experience do you have with this area?
  • Do you have any samples or past work I can look at?
  • How much do you charge for your services?
  • Can you give me an overview of my options?
  • Can I get your ideas in writing?
  • Is your service one off or a long term deal?


What is the cost to you?

Counsellors are able to give you guidance on this part of your life but it does come at a cost. You will have to pay them a fee that funds their strategies and helps them put it into motion. If you have no income and little to no assets you may also qualify for free counselling. If this sounds like you be sure to look into it more. Individuals with a combined income and assets that is less than $48,500 are also not required to pay for nursing home costs. Getting on top of your economic status will allow you to know where you stand and what you next course of action will be.

While you are paying a fee to a counsellor they can actually save you money in the long run. Their role also involves them negotiating with creditors and banks to get you the best deal possible. The small fee you pay them could be nothing compared to the savings that they will get you. They may also be able to help with your referral and budgeting needs. You can check out the many community organisations that are across Australia that are dedicated and funded to provide these services to real people.

By this point you should have a pretty good idea about these counsellors and why you need one. They can be a big help in the future of your life and can make a real difference. Even people who don’t have the capital to get started can seek free guidance on these pressing issues.