Retirees who are wanting to plan their long-term future will desire peace of mind above anything else.
Once they know where they are living, what levels of support they require and what degree of flexibility they have, then other decisions become easier for all parties.
To reach that stage, participants decide to hire proven and experienced aged care financial planning services to jump through those hurdles and offer objective analysis and insights.
Point 1: Comparing Aged Care Costs
The first point of value that is prevalent with professional aged care financial planning services is being able to compare and contrasts costs in the industry. Whether participants want to continue to live at home or make a transition to an aged care facility, it is important to have an adviser present to help individuals navigate the costs and determine what is viable moving forward. Some outlets will see a spike in fees on a continued basis while others will offer more competitive rates that are beneficial for new participants. Having these businesses positioned side-by-side for objective analysis is where these operators prove value for money.
Point 2: Leveraging Government Subsidies & Incentives
One of the key benefits of accessing aged care financial planning services is being presented with any government subsidies, policies and incentives that could help clients finance their living requirements. It is very easy for retired men and women to venture forward with a payment plan without any awareness or acknowledgement that they are entitled to certain subsidies that will lower their financial responsibilities and put more cash in their back pocket to cover monthly bills and ongoing expenses.
Point 3: Informed Analysis of Estate Assets
Aged care financial planning services will bring up key estate assets when it comes to financing a living retirement plan. Whether this involves the sale of a home, the leasing of a property or the liquidation of other assets like vehicles and stock portfolios, there will be a number of options presented before clients. They can outline a list of priorities and help to access as much capital for the short, medium and long-term. If there are alternative measures to leverage, they will also be explored with the client before making an informed decision on how a program will be sustainably funded.
Point 4: Bringing Others Into The Fold Where Necessary
Aged care financial planning services are designed to help clients get the most out of their retirement and ensure a level of financial security that will give them peace of mind. Yet for many men and women who are in their 60s, 70s and 80s, they will want to have their partners, siblings and close family members involved in helping them formulate a plan. This is where these specialists can offer their objective advise for participants, consulting with them about what advice they have been given, what support has been provided and what their opinions are with these close family members around. In many cases they will be a help, but they are also not going to withhold their opinion if their feedback to the client is poor.
Point 5: Slowing Down & Speed Up The Process
For clients who are wanting to leverage aged care financial planning services, they will want to be empowered to slow the process down to begin with before expediting it when final agreements are to be formalised. Elderly residents don’t want to feel rushed or pressured into making a life-changing transition, giving them the space and time to assess all of the potential options at their disposal. Once they have opted for a resolution, they won’t want obstacles and complications to emerge with logistical details. This is where experienced aged care financial planning services hand over a major advantage to participants.