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Centrelink entitlements

Financial planning for low income earners

Financial Adviser's picture
Submitted by Financial Adviser on Mon, 01/30/2012 - 16:22

Financial literacy is a vital part of navigating today’s complex financial world. However, despite the importance of financial literacy, certain socio-economic groups have been consistently left out when it comes to receiving financial advice. Low income clients are a major group which have traditionally been excluded from the advice process. This is partly due to barriers such as cost and access to affordable advice, but also due to issues such as an industry focus on high-net-worth clients.

Aged care, Retirement villages and the Family home

Financial Adviser's picture
Submitted by Financial Adviser on Sat, 01/28/2012 - 14:44
Australia’s ageing population means that more retirees will be faced with the prospect of moving into aged care accommodation. For many, this can be challenging, as there are a range of factors to consider, from the cost of aged care to whether to sell their family home, and how this will impact on their social security entitlements.

Granny flats, Centrelink and Aged care

Financial Adviser's picture
Submitted by Financial Adviser on Sat, 01/28/2012 - 14:27

As the Australian population continues to age, there is expected to be greater pressure on all areas of society, particularly income support, health and aged care. With many retirees expected to reconsider their accommodation requirements, financial advisers are likely to be faced with greater demand for information on alternative living arrangements. Granny flats are a popular form of aged care accommodation, with a number of social and economic advantages.

Aged care - case study

Financial Adviser's picture
Submitted by Financial Adviser on Sat, 01/28/2012 - 14:12
Daisy is 83. She lives with her adult son, James, in the home she purchased with her late husband, Leigh, in 1978. This arrangement has been beneficial for both of them, as James has given emotional and financial support to Daisy, while her home has provided a base for him in-between his significant work travel commitments. 
 
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