Whether you need help in your home or need to move into an aged care home, navigating through the complex aged care system isn’t easy. Knowing how to transition into a home and how to afford care can be overwhelming and stressful.

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Expert Aged Care Financial Advice on the Gold Coast

Aged care advice is a precious area that requires a great deal of care and understanding of everyone’s unique situation. We understand this better than most.

Our Gold Coast aged care financial advisors are here to help guide you through the aged care maze, to help educate you on the process, and to inform you of your options; so you can make the best decision for your future care.

Centaur Financial Services is with you through all stages of life, including your transition into aged care.

Our goal is to provide you with a clear path forward through the multifaceted aged care fee structure and to help you make informed decisions about your investments and financial situation as you move into a nursing home or a residential aged care facility.

Working through what’s required can be complicated, but with our support, our Gold Coast aged care financial advisors can make the transition much easier for you. We will review your current financial position and formulate a strategy that offers you the finances required for aged care. Considering your assets and homeowner status, and its impact on tax, cash flow, pension, and estate planning, we review the various accommodation options available and then advise which is best for you.

Ease your financial concerns and gain clarity for your future care with expert aged care financial advice on the Gold Coast from Centaur Financial Services.

aged care financial advisors gold coast
aged care financial advice gold coast

Financial Advice for Aged Care

Guidance and Clarity from Gold Coast Advisors

Gain a comprehensive understanding of your financial position and its impact on aged care costs with Centaur Financial Services.

Our experienced Gold Coast aged care advisors offer a holistic review of your situation, providing expert guidance and financial advice tailored to your needs. We will guide you through each step of the process, explaining the financial aspects and costs associated with various options. Trust us to take care of your financial concerns when you need it the most.

Take control of your financial future as you approach your pension years with the expert support of our knowledgeable aged care advisors. Our team is here to help you make informed decisions and ensure peace of mind for yourself and your loved ones. Let us empower you to navigate the complexities of aged care planning with confidence.

Our services include:

  • Maximise Pension: Explore all available options to maximize your Centrelink or Veterans Pension, ensuring you receive the benefits you are entitled to.
  • Aged Care Impact: Address the potential impact on pensions, cash flow, tax, and estate planning as you transition to aged care.
  • Decrease Care Fees: Strategise ways to decrease your means-tested or income-tested care fees, minimising the financial burden.
  • Aged Care Bond Payments: Explore options to efficiently manage the Aged Care Accommodation Bond (RAD) payment.
  • Family Home Options: Determine whether selling or renting your home is best for your specific circumstances.

With our guidance and expertise, you can confidently navigate the intricacies of aged care planning, ensuring financial stability and a secure future.

The decisions concerning your or your loved one’s future care require careful consideration and should not be rushed. Aged care is known for its complexity, with numerous aspects to consider. Each decision carries consequences that can significantly impact your financial situation. That’s why seeking professional financial advice before making any financial decisions related to aged care is crucial. Understanding the consequences will ensure you choose the best, most tax-efficient option.

Please don’t make any financial decisions without consulting our Gold Coast financial advisors.

What to Avoid:

  • Avoid selling your home without understanding the impact on your pension and aged care fees. Seek advice from Centaur Financial Services to gain clarity.
  • Avoid deciding to rent out your home before discussing it with us and fully understanding the consequences that may arise.
  • Don’t assume you have enough in superannuation to afford aged care. Let us help you assess your financial situation accurately.
  • Avoid deciding on an aged care facility without exploring all available options. We can guide you through the decision-making process and help you make an informed choice.
  • Don’t let a family member dictate your future care needs. Seek professional advice to ensure your decisions align with your best interests and financial well-being.
  • With the expertise and guidance of our financial advisors, you can confidently navigate the complexities of aged care planning, making informed choices that secure your financial future.

Frequently Asked Questions About Aged Care

The cost of aged care varies depending on the facility you choose and your income and assets. There is a basic daily fee, which everyone must pay. The maximum basic daily fee is currently $52.25, or $19,071.25 per year – this figure is 85% of the single basic Age Pension. In addition to this fee, there is an accommodation fee and a means-tested care fee. Your means assessment will determine how much you pay for accommodation and means-tested care fees. The maximum daily rate for the means-tested care fee is $256.44, but not everyone will have to pay this fee.

If you are eligible for an aged care home, you may have to pay one, two, or all three fees. Additional fees may incur for extra and additional services provided by the facility. The Government will help with aged care accommodation costs. If you don’t have the means to cover the total costs of aged care, you will receive financial aid to cover some or all of the costs – this is determined in the means assessment.

A guide to the available funding is as follows:

  • Assets below $50,000 and income below $27,840: The Government will cover all accommodation costs
  • Assets above $ 171,535.20 and income above $70,320: You will cover all accommodation costs
  • If you have to pay part of the accommodation costs, the Government will cover the rest of the costs

The Australian aged care system is for those aged 65 or over who cannot live in their home without assisted support. The Australian Government funded the system, which spent $19.9 billion on aged care services in 2018-19.

Three types of care are available; at-home care, residential care (nursing home), and flexible care, which come in various forms.

How much you pay for your aged care depends on whether you can contribute (see above for costings). Those seeking subsidised aged care must apply for an assessment. The assessment process determines eligibility based on your care needs by the home and how much you can afford to pay towards your care and accommodation costs.

There is no difference between aged care (home) and nursing homes. However, Aged Care is a broader term that doesn’t necessarily refer to residential care, such as a nursing home. There are three types of aged care options; at-home care, residential care (nursing home), and flexible care, which come in various forms.

Are you ready to secure your future with expert Aged Care Financial Advice?

Don’t leave your aged care decisions to chance. Take control of your financial well-being today. Contact us to schedule a consultation with one of our aged care financial advisors on the Gold Coast to discover how our expertise can help you navigate the complexities of aged care planning with confidence and peace of mind.