9 tips to clear that clutter gathered over the years and make the move
Most people have a lifetime of possessions and have no idea how much they have gathered until they consider moving out of the family home and into a retirement living facility. It may seem overwhelming but it isn’t. Make a plan Group your objects into…
Can a person leave a retirement village?
The process for leaving the retirement village should be explained in the contract that you are given and sign before you enter the retirement living community. A resident may have to pay one-off or even ongoing fees after they leave, as part of the payment…
When should you claim the Aged Pension?
When to claim the aged pension is a question that arises as you approach retirement. As you reach that stage in your life, you began to question how much is in your superannuation account and what you have to live on as you enter into…
There is no single figure to determine how much is needed to retire
One of the most often published stories is the one bearing the headline: $1 million is needed to retire comfortably. Unfortunately, retirement isn’t as simple as that. Every person will have a specific set of needs, wants, beliefs, preferences and prejudices that will dictate how…
How many Australians are retiring every day?
800 Australians are due to retire every day for the next decade, giving them access to a whopping $1.5 trillion in superannuation. The Financial Services Council (FSC) believes the Baby Boomers will not spend all their super and save some for their kids. Such action…
The last 10 years before retirement are critical
The earlier one starts planning for their retirement, the better. The final decade before leaving the workforce will have a critical impact on how ready you’ll be when that day finally arrives. “It hits about 10 years out—this train is coming to me,” Danielle Byrd…
The unheard of scheme that eases the cost of retirement
With the dramatic rise in the cost of living – 4.2% than 12 months ago – retirees have a new way to boost their retirement income. Services Australia’s The Home Equity Access Scheme, a rebranded Pensions Loan Scheme, came into being on 1 January, and…
The financial sense of making the move into a retirement village
The latest PwC Property Council Retirement Census stated the national average price of a two-bedroom ILU is $484,000. When you think the average median house price in Australia is now $848,706, according to CoreLogic, that is a heavy discount. This is the Entry Fee you…
Retirement villages’ exit fees being paid out quicker
Diligent research of retirement villages will find that the exit fee – buyback – has historically been an adverse issue for residents. The exit fee, also known as the deferred management fee or departure fee, is the amount the resident in the retirement village has…
Over-55s: you can now contribute money from downsizing your home into your superannuation
Good news for over-55s looking to downsize: the Federal Government has lowered the age at which you can add a voluntary contribution from home sale proceeds into your super. Previously only open to those aged over 60, the downsizer scheme dropped its eligibility age to…