Q+A: A man’s retirement village unit was sold for $910,000 but only $600,000 was returned by the operator. It’s not an uncommon story. Here’s why you’ll get stung when it comes time to sell.
Nick Bruining
Q+A: So you’ve sold up the family home and making the move to a retirement village. But should you choose to rent instead of buying a unit outright? Here’s the hints and tricks to consider before deciding.
The biggest changes to come out of the Aged Care Taskforce are those surrounding residential aged care and the amount you’ll be asked to chip in. Here’s what an aged care expert says is likely to be targeted.
A complex aged care system means you need to get on top of it to ensure you’re maximising your pension and using the family home to help offset the cost burden.
The family home holds most of the future inheritance likely to be distributed to the kids. How that asset is dealt with now could determine how much is left when the time comes to divvy up the proceeds.
The number of potential downsizers in WA has grown by 25,000 in two years but many will be forced to stay in empty nests.
Kim Macdonald
Miss-time mum and dad’s move into aged care and it could cost your family hundreds of thousands of dollars. It particularly applies to those couples with very modest means. Here’s how it works ...
Splitting up a block that also houses your main dwelling has tax and superannuation contribution implications. Here’s how it works, and a handy loophole that could help reduce your capital gains burden.
Which date is relevant in determining our eligibility to make a super downsizer contribution, the contract date or the possession date?
It’s the question most often asked when someone is faced with placing a loved one into aged care: “Do we sell down assets to pay the refundable accommodation deposit or just pay the daily rate?”
With mortgage and some bank deposit rates rocketing up across the board, it should come as no surprise that the figure used to calculate aged care accommodation costs is also rising.
The Federal Budget had little in it for seniors that hadn’t already been announced. But a minor change could see those with multimillion-dollar properties being eligible for a pension while they downsize.
A Perth-based fintech will launch next month to help tackle a growing problem faced by millions of cash-strapped pre-retirees worried about how they will pay for life after work.
Daniel Newell
Pensioners cashing in on WA’s property boom are becoming more frustrated as building delays upset planned moves from one home to the next. But there are special Centrelink provisions that can help.
Warnings that home care providers will become debt collectors for Canberra are just another reminder of the regulatory morass awaiting Australians in our twilight years.
Neale Prior
One provider says they will effectively turn the sector into a debt collector agent for the Federal Government and could limit access to urgent support for clients.
The cat’s out of the bag. The Federal Government now wants you to use your family home to fund your retirement. Some will be better off but there’s hidden dangers for the less well-off.
When we asked what he had witnessed Arcadia Waters Sales Manager Brett Hancock said he had started to feel the impact.
Arcadia Waters
Now is the perfect time for seniors to offload that giant family home as property prices soar. Here’s your options ... and why an upscale apartment could be your best bet.
If you are a new retiree or someone who is already retired, you may be wondering how to best unlock the wealth that sits within your home as Perth property prices rise.
Fran Hughes
Even as a veteran news reporter with a strong degree of scepticism, it is hard to fault the Property Council of WA’s proposal for a $15,000 selective grant for downsizing seniors.
YOUR MONEY: An oversupply of spaces means big saving on costs for people needing to place a loved one into aged care.
Brightwater Inglewood will include an 128-bed residential aged-care community, broken into 16-bed small houses where residents live together like an extended family.
An aged-care home under construction in West Perth that will use futuristic technology such as robots and motion sensors is likely to set a new benchmark in accommodation for seniors.
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