Can I leave a retirement village after signing the contract?
Signing the contract to move into a retirement village is a big step – so it’s important to know that there are cooling off periods in place. These depend on where you live and also on the contract being offered by the operator of your…
Retirement living or the kids’ inheritance? The questions you must ask yourself
Talk to any retirement village operator and they will share stories of people who have put their name on a waiting list, only for them to renege when the time comes for them to move in. The reason is always the same. The children deserve…
Why people at retirement age should pay off their mortgage with their superannuation
As avid readers of stories about how much is needed for a comfortable life in retirement, we always see the rider on any figures, “providing you own your own home and have no mortgage.” However in 2021, there were nearly 9.8 million households in Australia….
73% of seniors still hoping to find true love: survey
As people reach their retirement, many of us start to reflect on their lives – now new US research is shedding light on what some older people have learnt from their experiences. A survey of 2,000 Americans aged 65 and older, found: 25% believe their…
The benefit of having a DMF in your retirement village contract
People considering moving into retirement living will be met by the “Deferred Management Fee” for the first time in their lives. The words can be a cause of concern if they are new to you, but the use of the Deferred Management Fee (DMF) is…
Extra $500 per household for people with Commonwealth Seniors Health Card holders
Nearly 500,000 Australians will be eligible for a rebate worth hundreds of dollars in a bid to offset a major price hike expected on July 1. All Commonwealth Seniors Health Card holders, nearly 500,000, will receive up to $500 per household in energy bill relief…
What you need to do before signing a contract to enter a retirement village
If you want to live in a retirement village or a land lease community, you are given a contract to sign with the village operator. However, the Retirement Living Council – a dedicated national division of the Property Council of Australia – advise the following:…
What does snoring really mean?
Snoring can badly affect a relationship but is it actually a sign that it is affecting your health? A lot of people wave it off as an issue their partner has to deal with, or move into the spare bedroom. But is snoring signifying a…
If you own a home in Australia, how much do you need to retire?
As people approach retirement, thoughts and conversations can centre around how much is needed to have a comfortable lifestyle throughout their later years. Self-funded and pension-funded retirees have the same thoughts and wonder if it is better to be self-funded, or to rely on the…
What happens if a retirement living operator changes hands
If you are a resident in a retirement living facility, you have signed a contract on agreeing to be part of the village. The contract will stipulate your rights, the entry costs, the settling-in period, recurrent charges, services and facilities, alterations and additions, repairs and…