News
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Don’t panic – your starting fee may only be temporary
Read more: Don’t panic – your starting fee may only be temporaryCashflow planning is important when moving into aged care, but plans can be thrown into chaos if your first invoice shows much higher fees than expected. This article sheds light on interim fees. The first statement you receive when you move into residential aged care can be a shock, as fees might be far higher than expected – possibly even hundreds of dollars a day higher. This might not be an error but rather be just a matter of understanding how “interim fees” are applied. If you are required to pay a means-tested fee as a contribution towards the cost…
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Financial Control
Read more: Financial ControlThe term financial control generally evokes a weaker party being controlled by a stronger one. This might be in a relationship where one partner controls the finances and all financial decisions despite the other one wanting to be involved. There’s also the instance of control where it overlaps with elder abuse. Here a stronger party, be it physically or mentally, exerts control over an elderly person because they have designs on the elderly person’s financial resources. While these are the most common and obvious instances of financial control, with the bank of mum and dad wielding more and more power…
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2023 Q4 December Quarter Review
Read more: 2023 Q4 December Quarter ReviewEconomic Overview Q4 was a very positive end to the year, and despite the gloomy outlook many had for 2023 it was a fruitful one for investors who maintained a bias towards growth in their portfolios. Inflation continued to moderate in the US, while economic growth held up, continuing to defy any recession forecasts. Despite energy inflation looming as a worry during Q3, due to production cuts coming from Saudi Arabia and Russia, crude oil prices fell in Q4. Notably, and to the surprise of many, the US hit a record for oil production in November, and is estimated to…
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Three Aged Care Mistakes You Should Avoid
Read more: Three Aged Care Mistakes You Should AvoidMoving into residential aged care can be a stressful period with complicated rules, family conflicts and rushed timeframes. This can easily lead to mistakes, which can be costly and difficult to rectify. This article highlights three common mistakes and tips to avoid the traps 1. Rushing your decision The biggest expense you will face is the cost of your room, which is likely to be quoted as hundreds of thousands of dollars. However, you might choose to pay a daily fee instead of the big lump sum. When signing contracts, many people feel pressured to make quick decisions which might…
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The Festive Season brings Families Together
Read more: The Festive Season brings Families TogetherWhen your family gathers over the festive season, it might present an opportunity to start planning for future care needs. Christmas is a time for families and the New Year is for resolutions. This year, combine the two by making a resolution to pay more attention to how your older parents are coping and start family conversations to develop a plan for future care and support. You may have been busy through the year and not noticed the small things. But how well parents are coping may become more obvious when you have time to catch up with family over…
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