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How Much Do I Need To Retire?
Read more: How Much Do I Need To Retire?It’s one of the most vexing finance questions there is. While it seems like a straightforward one, it’s really a question that only invites further questions. Not about the money, but about the person or persons who are retiring. There will never be a one-size-fits-all pot of money. Primarily because of how many different variables come into play. What do you want to spend? Will your spending change? What your returns will be? What is the sequence of those returns and how volatile will your portfolio be? The first two questions are the most controllable. Everyone will have fixed costs…
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What Do You Want To Happen?
Read more: What Do You Want To Happen?The Christmas and New Year period can be chaos. More people out on the roads, airports are packed, stores are crowded, supermarkets are like zoos. Navigating it all can be tiresome and frustrating. At a more micro level, the chaos might be a better chaos that involves spending more time with friends and family. You often hear people say this time of the year is a good time for reflection and to focus on what’s important. They’re not talking about the spending, or the gifts, or the food, but the people. If people are truly the most important thing at…
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Home Sweet Home
Read more: Home Sweet HomeIt is the great Australian dream to own your own home. But how does your home affect your age pension or the aged care fees you can be asked to pay? Eligibility for an age pension and liability to pay aged care fees, are both impacted by your assets and income. This includes an assessment of where you live and your ownership status. The Centrelink (or Veterans’ Affairs) assets test starts by identifying you as either a homeowner or a non-homeowner. A higher threshold applies to non-homeowners but homeowners receive an exemption for the home. At first glance it may…
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Supporting a person living with dementia
Read more: Supporting a person living with dementiaLiving with dementia can be unsettling and frustrating, but independence and quality of life can still be achieved with the right support and a few changes. With almost half a million people living with dementia in Australia, and another 1.6 million people involved in their care, it is likely that we are all impacted in some way. This week is Dementia Action week, putting a spotlight on how to support a person living with dementia as well as support for the carers. Understanding the experience of dementia, and making a few changes can have a beneficial impact on the person’s…
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Too Wealthy for Home Care Subsidies?
Read more: Too Wealthy for Home Care Subsidies?Did you think you would not qualify for the government subsidies on home care? Take another look – you might be surprised. The cost of full-time private care provided in your own home may look daunting. But financial advice along with a government-subsidised home care package and support from friends and family, might make home care achievable and affordable. Each home care package comes with an assigned budget that you can choose how to spend on care services (after administration costs). Part of this budget is paid by the government and part is paid by the recipient. But are you…
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