Starting the Aged Care Conversation

No-one likes to talk about getting old. But at what age should you start thinking about your aged care needs? The answer is simple – any age is a good time. This is regardless of whether you are in your early retirement years or well into retirement.

If you are lucky enough to still have your parents, starting the conversation with them while they are still healthy is also sensible. They might not be thrilled that you’re raising the subject but it gives your parents an opportunity to think about what is important to them and give you some instructions, so you have something to guide you if you need to make choices for them in the future.

Don’t accidentally fall into either of these traps:

1. Leaving it too late to have the conversation – once Mum or Dad can’t return home from the hospital, you’re in crisis mode. This is not the best time to be making life-changing decisions for anyone.
2. Thinking it will never happen – Unfortunately the statistics say otherwise. On average, we can expect to live 17-25% of our retirement with a profound disability that may threaten our ability to live independently without care support. With those odds, you at least want to have a quality conversation about the options for aged care and importantly, how you would pay for it

How to find some help

Making an informed decision about aged care is incredibly important. Making the wrong decision can have far-reaching consequences for the whole family. When aged care decisions go badly, the stress can lead to family conflicts.

However, not all advice is good advice. Aged care financial advice is a specialist area. The rules change constantly, as do the available strategies. You don’t need extra stress wondering if you’ve received quality advice!

At Sage Care Advice we specialise in aged care advice and have the experience to help you to plan for current or future needs. Call us today on 07 5322 5333.