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The Government has introduced the biggest changes to aged care in almost 30 years. While the message has been that “wealthy Australians will pay more for aged care”, it seems that most people will pay more, some a lot more.
Australia faces a wave of retirees at a stage where the superannuation system is still maturing. Better and fairer policy on the role of the family home as a retirement asset might help.
An 'unofficial' recommendation from the Aged Care Taskforce will see higher aged care accommodation costs for all, and there is still much uncertainty around means-testing, and government subsidies.
The system has incentives that run counter to policy objectives, especially for the age pension taper rate, family home and access to super before it's assessed for the age pension. Here's how to fix these problems.
With considerable resources spent on qualifying for the age pension and grappling with super consequences, there have been regular calls for a universal pension. How might it work and what are the benefits?
At some point, politicians will debate how to reduce the national debt and implement measures aimed at simultaneously easing budget pressures while reducing the gap between rich and poor. Investors should be ready.
Although the Aged Care Royal Commission (with Paul Keating) and Budget announcements gave the aged care sector high profile, the welcome 'granny flat' changes came with inadequate extra Home Care Packages.
When someone moves into residential aged care, they are assessed based on their assets and income. An important change is coming on 1 July 2020 that clients and their advisers should understand.
The current system is complex and inequitable, and those most affected by aged care anomalies are often least able to understand the consequences.
Seniors entering a new relationship want to enjoy their late-life happiness, but some may also worry about how the new arrangement will affect their income and estate planning. There are many options to consider.
The primary objective of the aged care reforms starting on 1 July 2014 was to create a better system giving older people more choice, more control and easier access to aged care services. There are unintended consequences.
The final of our series on aged care in Australia covers aged care facilities. More than a third of men and half of women who reach 65 are expected at some point to live in aged care. Understanding the recent reforms is key.
This AI cycle feels less like a revolution and more like a rerun. Just like fibre in 2000, shale in 2014, and cannabis in 2019, the technology or product is real but the capital cycle will be brutal. Investors beware.
An explosion in low-skilled migration to Australia has depressed wages, killed productivity, and cut rental vacancy rates to near decades-lows. It’s time both sides of politics addressed the issue.
LICs are continuing to struggle with large discounts and frustrated investors are wondering whether it’s worth holding onto them. This explains why the next 6-12 months will be make or break for many LICs.
Australian housing’s 50-year boom was driven by falling rates and rising borrowing power — not rent or yield. With those drivers exhausted, future returns must reconcile with economic fundamentals. Are we ready?
Younger Australians think they’ll need $100k a year in retirement - nearly double what current retirees spend. Expectations are rising fast, but are they realistic or just another case of lifestyle inflation?
This week, I got the news that my mother has dementia. It came shortly after my father received the same diagnosis. This is a meditation on getting old and my regrets in not getting my parents’ affairs in order sooner.