Ageing (Dis) Gracefully
In need of some living assistance
- Aged care is about big decisions, often made very quickly and with a massive impact! Selling the family home and selecting supported living… do you have the knowledge and expertise to make these decisions?
Carol is in her early 60s and single after a lengthy marriage. She had been a homemaker and was heading into new territory taking on sole responsibility for her finances. Through the advice process, Carol’s health deteriorated to the point where she needed a significant level of care.
WHERE WE STARTED
Carol had received a financial settlement which she needed to make the most of to:
- make great decisions for her living arrangements,
- fund her retirement,
- decide whether to sell her home, and
- make sure that her family was on the same page with her estate planning.
We discussed these issues over several years with Carol and worked with her to create a great solution.
WHAT WE DID TOGETHER
The key solutions for Carol were to fund her retirement and plan for living arrangements that would accommodate her deteriorating health.
- We managed to create a sufficiently large income stream and cash reserve for Carol to be living comfortably
- We also created the financial freedom to travel before her health deteriorated
- We worked closely with an aged care placement specialist, to find and fund the ideal living arrangements for Carol
- We worked closely with an Estate Planning specialist to establish and communicate Carol’s wishes
- These arrangements have been shared appropriately with her family and have included setting up powers of attorney whom we now work closely with.
...AND THE OUTCOMES WERE...
- Carol loves her new living arrangements - she has company and is able to pursue her passions in a safe and caring environment
- Carol’s finances are on a very sound footing – she will have more than enough to last her in what could have been a very difficult set of circumstances.