When it comes to aged care, the right support is about more than just finding a suitable place to live. It’s about making smart, informed financial decisions that ensure long-term comfort, security and peace of mind for you and your loved ones.
With the aged care system becoming more complex and care costs continuing to rise, expert financial advice has never been more valuable. Whether you’re planning ahead or supporting a parent through the process, the right guidance can make a real difference.
Aged care today: more choices, more complexity
Australia’s aged care system offers more options than ever before, from government-subsidised in-home care to full-time residential aged care facilities. But, with more choice often comes more complexity.
Understanding financial terms like RADs, DAPs, means testing, and Centrelink entitlements can quickly become overwhelming, especially when decisions need to be made under pressure.
That’s where working with a dedicated aged care financial advisor can help ease the burden.
Why financial advice matters now more than ever
There’s a lot to consider when it comes to aged care, especially on the financial side. Here’s how the right advice can make things easier and more manageable.
1. Everyone’s situation is unique
Aged care is not a one-size-fits-all experience. Your financial plan should reflect your income, assets, family needs and personal goals. A specialist can help tailor a strategy that suits your circumstances and gives you confidence moving forward.
2. Care costs can add up quickly
Aged care fees can be significant, and the structure can be confusing. Without the right plan in place, you may end up paying more than you need to. Financial advice helps you understand the true costs and avoid unnecessary strain.
3. Centrelink payments may change
Moving into aged care can affect payments like the Age Pension. A financial advisor can help you manage this, ensuring you maintain as much support as possible.
4. Protecting your assets is important
Whether it’s your home or your savings, preserving what you’ve worked hard for is key. With the right advice, you can fund your care while still safeguarding your financial security.
4. Tax plays a bigger role than you might expect
Selling assets or changing how your finances are structured can have tax consequences. Aged care advisors help you plan ahead to minimise tax and maximise your financial outcomes.
Why work with a specialist aged care advisor?
At APS, we know that aged care decisions aren’t just about finances, they’re deeply personal. Our advisors take a compassionate and holistic approach, combining expert knowledge of aged care, financial planning, tax and estate planning to guide you through every step. We provide clear, practical advice tailored to your unique circumstances, so you and your family feel supported during what can be a challenging time.
Get in touch with our aged care specialists to learn more.
Written by APS Senior Financial Advisor, Paul Hatzigeorgiadis.
Paul has over 25 years of experience in the financial services sector. Over Paul’s history, he has provided advice to an extensive range of clients from wealth accumulators to pre and post retirees advising them on Wealth Creation, Cash Flow Management, maximising Centrelink benefits in Retirement, Personal Insurances, Debt minimisation strategies and Superannuation. Paul is married with a 12-year-old daughter and enjoys spending time with family and friends. Whether it’s assisting clients to meet their short-term goals or working with them over a longer term, Paul enjoys helping guide his clients with their financial future.