{"id":1610,"date":"2021-06-01T22:59:41","date_gmt":"2021-06-01T12:59:41","guid":{"rendered":"https:\/\/onthecoastpublications.com.au\/onthecoastover55\/?p=1610"},"modified":"2023-09-04T22:45:43","modified_gmt":"2023-09-04T12:45:43","slug":"making-informed-choices-aging-journey-navigating-aged-care-expert-advice-aged-care-specialist-central-coast","status":"publish","type":"post","link":"https:\/\/onthecoastpublications.com.au\/onthecoastover55\/making-informed-choices-aging-journey-navigating-aged-care-expert-advice-aged-care-specialist-central-coast\/","title":{"rendered":"Making Informed Choices for Your Aging Journey: Navigating Aged Care with Expert Advice"},"content":{"rendered":"\n<p><strong>MORGANS FINANICAL LIMITED<\/strong><\/p>\n\n\n\n<p>The good news is we are living longer, which may give you more time in retirement to tick off your bucket list. But at some point, you might expect to slow down and take things easier. Therefore, you may need help around the home or with some of your daily needs. You may even find you need to make the move to residential aged care.<\/p>\n\n\n\n<p>Whatever your needs and choices, identifying your options and making effective decisions can become overwhelming without good advice and an effective plan.<\/p>\n\n\n\n<p>Some tasks are too complex and too important to do on your own. Navigating the way through aged care and the jargon is not easy \u2013 especially if decisions are being made in a time of crisis and emotions are running high. We all make less effective decisions when experiencing grief or stress, so having a plan and a roadmap to fall back on can fill the gap.<\/p>\n\n\n\n<p>When aged care decisions go badly, the stress can lead to family conflicts, fuelled by the <em>Three G\u2019s of aged care<sup>\u00ae<\/sup><\/em> which have been identified by Louise Biti from Aged Care Steps as grief, guilt and greed.&nbsp;<\/p>\n\n\n\n<p><strong>Grief: <\/strong>&nbsp; When a parent needs to make a move into aged care, the spouse and children are likely to experience grief at the change in that person and in the ongoing relationship. We all make less effective decisions when experiencing grief or stress, so having a plan and a roadmap to fall back on can fill the gap.<\/p>\n\n\n\n<p><strong>Guilt:<\/strong> &nbsp; An aged care residence is often the best and safest way to look after an older person. Many people feel guilty about sending a spouse or parent to live in a home, rather than providing the care themselves. While residential care may not be your first preference, it is important to have discussed the options with family and give \u201cpermission\u201d to make the decisions they need to make.<\/p>\n\n\n\n<p><strong>Greed:<\/strong>&nbsp; Families and money are often not a good mix. The lure of an impending inheritance can make people act in their own interests, not yours. Choose carefully who you leave in charge of your finances and think about how you can ensure the rest of the family knows what\u2019s happening so there are checks and balances in place.<\/p>\n\n\n\n<p>Mistakes can be costly. Three key mistakes we see people make when they don\u2019t get the right advice:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Selling the home without understanding the implications<\/li>\n\n\n\n<li>Being afraid to pay a lump sum (refundable accommodation deposit) for residential care accommodation and missing out on Centrelink concessions<\/li>\n\n\n\n<li>Not generating enough cashflow.<\/li>\n<\/ul>\n\n\n\n<p>This is where I can help, as a financial adviser with aged care advice experience, I can guide you through the process. Financial advice isn\u2019t just about superannuation and investments.&nbsp; Advice can help to show you how you can afford the care you need and provide clarity to understand how it all works. &nbsp;<\/p>\n\n\n\n<p>Whether you are seeking for advice for yourself, a family member or you might be planning ahead for the future, so you can plan for quality of life, before care needs start to creep in.&nbsp;<\/p>\n\n\n\n<p>Let me take away some of the stress. Contact us today on 4325 0884 to make an appointment to discuss your current or future aged care needs.<\/p>\n\n\n\n<p><strong><em>Sophie Doyle<\/em><\/strong><em> (AR#000470612) is an Aged Care Specialist at Morgans Financial Limited (Morgans AFSL 235410 \/ ABN49 010 669 726); with a passion for assisting people make informed financial decisions as they navigate their way through the aged care system.&nbsp;<\/em><\/p>\n\n\n\n<p><em>Disclaimer: The information in this article is general advice only and does not take into account your particular circumstances. We recommend specific tax or legal advice be sought before any action is taken and refer to the relevant Product Disclosure Statement before investing in any product.<br>Current at 18 October 2020.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"MORGANS FINANICAL LIMITED The good news is we are living longer, which may give you more time in retirement to tick off your bucket list. 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