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Financial Planning

Work through costings and implications to help you make the best financial decision for your circumstances.
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Superannuation and planning your future

Superannuation is one way of saving for retirement. It is money that is set aside by you or your employer during your working life that becomes available when you're older and is designed to help you fund your retirement lifestyle. Currently the Australian Super Guarantee which you receive is 10 percent of your regular income, and the amount paid into super is set to rise to 12 percent by 2025.

You can also choose to add more money into your super fund on top of the required amount if you want to, by having an agreement with your employer that they will pay some of your wages as super contributions instead of directly to you. This is called salary sacrificing and can reduce the tax rates paid for your income.

During your working life, the super fund looking after your money will invest your Super Guarantee and salary sacrificed funds and the return of those investments will grow your super over time.

You can choose whether to have a managed fund, through an industry or retail group which will invest your money on your behalf, or a private self managed super fund (SMSF) where you choose how your money is invested.

Regardless of your superannuation situation, just having retirement savings and super as your only form of funding in retirement is like having all your 'eggs in one basket'. Other investment options which could diversify your savings include stocks and investment properties.

Get expert advice from a financial adviser about how superannuation fits in your retirement plan and how you can ensure you won't run out of money when you retire.

Search for accredited financial advisors near you or call 1300 863 216 to speak to someone independent about your financial future today.

Disclaimer: The information on this site is general in nature and does not constitute legal or financial advice. Readers should seek their own personal legal and financial advice from a suitably qualified practitioner.

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Superannuation and planning your future

Investment and wealth creation options

Investing your money is one option to grow your retirement savings but you need to make sure your approach is right to help you build your nest egg.

With hundreds of investment options available to you, it can be difficult to provide a list of the best options. The most beneficial options will also depend on your personal circumstance, from the income you earn to the debts you have or even your medical costs if they are significant.

You may have specific ideas about where you would like to invest your money, such as shares or property, but it's a good idea to engage a financial planner to help you understand the risks involved as well as making sure it's an option that suits your financial goals.

Wealth creation, or investing, may be able to help you to reach these goals by growing the income you earn while working so that you have more than just your income savings when you retire. Continuing wealth creation after you retire, by staying on top of the returns your investments are bringing, can add to the money you have available and stretch it out over more years.

Financial advisors provide options, advice, and investment strategies depending on how it will benefit you personally in the short and long term and can help you to work through retirement planning. They are required to act in your best interest as per the Financial Adviser Standards and Ethics Authority guidelines, so will provide you with the best options. Call 1300 863 216 to talk to an accredited financial advisor today or search for financial advisors near you.

Disclaimer: The information on this site is general in nature and does not constitute legal or financial advice. Readers should seek their own personal legal and financial advice from a suitably qualified practitioner.

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Investment and wealth creation options

Aged care costs and fees

As you get older and the level of care you need increases, you might be wondering, ‘how much does residential aged care cost?’

The amount you’ll pay for a place in an aged care home depends on a number of things, including the type of accommodation you need or have chosen. Aged care services costs can be broken down into a number of different areas, including fees for your daily care, an accommodation payment, means tested fees and any additional fees if you're wanting extra services during your stay.

Your aged care fees could be paid with the money you earn from assets and investments, or the Age Pension. If you are unable to afford nursing home care but need it, the Government can provide financial hardship assistance.

Fees for aged care are also worked out based on your financial situation - income you earn and assets you own. If you don’t have a lot of funds at your disposal you may need to specifically look for a Government subsidised nursing home or care which can involve a Government subsidy, rather than a private facility.

For more information about the costs of private facilities click here.

Some aged care facility costs may change after moving into a home so it's worth understanding what to expect over time and reviewing financials regularly.

Call to speak to a placement consultant today about your particular circumstances and the cost of aged care homes on 1300 903 627.

Disclaimer: The information on this site is general in nature and does not constitute legal or financial advice. Readers should seek their own personal legal and financial advice from a suitably qualified practitioner.

Read more information here on:

Aged care costs and fees

Life in an aged care home

Moving into an aged care home will mean you'll have access to 24/7 support with access to all the care and services you need. Staff are generally friendly and outgoing and can be called on if you need any help.

Daily life in a nursing home may be different from how you lived before moving in, but many residents feel positive about these changes as they often involve more social opportunities and activities. You and your family can also take comfort in the fact that any care needs you have - from medication management to support for dementia - will be looked after every day.

Some of the biggest benefits of aged care over care at home are the peace of mind, security, medical assistance and constant support which a facility can provide to maintain your physical health to the highest standard possible. This not only benefits you but also your family, with stress taken out of your circumstances.

But quality of life in aged care is about more than just physical health, it’s also about mental, social and emotional wellbeing.

Call to speak to a placement consultant about the best aged care services for your particular circumstances on 1300 903 627.

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Life in an aged care home

Information guides

Browse our collection of informative articles covering different topics around the cost of aged care.

When is the best time to start planning for your retirement?

When is the best time to start planning for your retirement?

Planning for your retirement helps to reduce financial stress you might experience when you stop working, so you can continue to live a happy and enjoyable life.

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Aged care and financial planning

Aged care and financial planning

The costs of aged care services can be difficult to navigate if you’ve never been through the process before, but planning ahead can help you to live a more comfortable life in retirement and feel better prepared for the future.

Read more
How do financial advisors help with retirement planning?

How do financial advisors help with retirement planning?

Financial advisors provide a range of finance based services that can assist you with any big life events, including your retirement.

Read more
Age Pension and planning your retirement

Age Pension and planning your retirement

If you are looking ahead to your retirement and are ready to start planning for what that may look like, you may be wondering how you will afford things once you retire.

Read more
Self-managing your super fund

Self-managing your super fund

If you feel like your control and choice over how your super is invested is not being met by your current super fund, then you may find self-managed super funds (SMSF) a better fit.

Read more
What to consider when choosing a super fund

What to consider when choosing a super fund

It is pretty easy to set and forget about your super - which isn't always a good thing. You should be checking your superannuation at least once a year to see if it is performing well.

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What costs are involved in nursing homes?

What costs are involved in nursing homes?

So you have chosen, or been offered, a bed in a nursing home where you would like to live, but how much do you have to pay?

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Daily living in a nursing home

Daily living in a nursing home

Moving house is often stressful and it will take time to settle into your new environment.

Read more

See more information articles

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