Once many seniors reach retirement age, they find themselves stuck with a home that is too large and too hard to maintain. After all, their children have moved out of the home and now have homes of their own. At this point, many seniors consider downsizing to a smaller home that cost less and is easier, and cheaper, to manage.
Beginning 1 July 2014, the new regulations to Age Care services in Australia have changed. These changes will directly impact nearly every senior in the country at some point. The changes were designed to help improve senior’s ability to live in their home longer, while providing greater options.
If you live and work in Australia, the chances are good that you already have a super account, whether you realise it or not. A superannuation account is basically and government-operated retirement savings fund to ensure that you have the necessary funds to live on when you retire.
Once you reach your older years you may find that your fixed income no longer meets your needs. Medical bills tend to increase as the body ages, which in turn can cause other bills to become harder to manage.
Unfortunately, there are bad people out there who will think nothing of taking a senior person’s trust and abusing it by taking their money away in sneaky ways. It is also unfortunate that the trusting nature of many seniors causes them to be easy targets for various online and telephone scams.