Caring For Your Elderly Parents

caring-for-your-elderly-parents

Caring for elderly parents who are struggling, or who are incapable of looking after themselves financially, is a sad story which touches so many Australian families.

Responsibility invariably falls on their children, which can often cause friction within the family.  It is important that families have a plan in place with an idea of how to handle finances as parents grow older and well before a crisis occurs.
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High Prices for Aged Care Facilities: The End?

old people holding hands

I have been working for a progressive Aged Care facility for several years now helping them to grow their business.

The original strategy was to buy existing Aged Care operations and as the client was well regarded and a long term player in the sector, they were able to access opportunities to purchase groups before they entered into a formal sale process.
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Pensioner Concession Cards

Pension Concession Cards Old People Thinking

With the 1 January 2017 Assets Test changes less than 6 months away it is important to understand the implications of losing the Age Pension entitlement as well as the Pensioner Concession Card (PCC).

Age Pension recipients who lose their entitlement and the PCC on 1 January 2017 as a result of the Assets Test changes will be automatically issued with a Commonwealth Seniors Health Card (CSHC) without being subject to the income test indefinitely.
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Changes to Super: As Good As a Holiday?

Dion - Super Changes

I happened to catch an episode of 60 Minutes recently, the crux of the story being interviewer talking with retirees who feel that with all the tinkering the Superannuation system has experienced, you simply cannot trust Super.

As a Financial Advisor, I hear this relatively frequently from new clients I work with and I have a slightly different view. I have been working within this field for long enough to remember and have to, to this day, work within the guidelines of rules that have changed over time.
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Major Changes to Assets Test

Dan - Assets Test

As you may be aware, a person’s Age and/or Service Pension entitlement is based on an Assets and an Income Test. The Test that results in the lesser amount of Pension is the Test that is applied.

 

In the 2015 Budget, the Federal Government announced a major change to the Assets Test which will take effect from the 1 January 2017.
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Farewell To Paul

FAREWELL TO PAUL

Our longest standing Director, Paul Chalmers, is retiring on 30 June 2016 after 33 years with Powers and 21 years as a Director of the firm.

 

When Paul Chalmers joined Powers, it was 1983. Warwick and Trevor Power still ran the business and for a fiercely competitive NSW Origin Supporter from Gunnedah, a move to Biloela would have had its challenges.
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