How to plan for retirement – well before you intend to
There are many steps that you can take to prepare for retirement. Having a financial plan is of paramount importance Julianne Parkinson, founding CEO of the Global Centre for Modern Ageing (GCMA), advises those approaching retirement to regularly assess their financial plan or consult…
Hey big spenders: look who is peeling off those $100 notes
The retirement living sector rightly boasts about its affordability – the average two-bedroom unit in a village is $516,000 and there are many operators who charge less. However, increasingly there are apartments being priced over $1 million and at Palm Lake Group’s flagship development, Pake…
Over 55 and having trouble sleeping? Researchers need you
Researchers at the University of Western Australia are looking for adults aged over 55 with insomnia to take part in a new study. There is no upper age limit. Research supervisor, Dr Melissa Ree said effective insomnia treatment can help with a range of conditions….
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…
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…
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 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…
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…
How will life change in a retirement village?
Making a move into retirement living is rarely straightforward, however beneficial it may be. What will the village be like? Will I fit in? Will I make friends? Can I go out and see my friends? Retirement villages arrange a variety of social and recreational…
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…