Older Aussies worry over dollar signs
Money woes reportedly top the list of older Australians’ greatest concerns, a new report has found, with almost half making no preparations for getting older. A National Seniors report surveyed 1,800 members and found their biggest worry was their finances.
Money woes reportedly top the list of older Australians’ greatest concerns, a new report has found, with almost half making no preparations for getting older.
The National Seniors report, released last week, surveyed 1,800 members and found their biggest worry was their finances – particularly in regard to their savings and investments to be able to afford aged care.
National Seniors chief executive, Michael O’Neill, said the findings were a reminder to the government to carefully consider the Productivity Commission’s final report Caring for Older Australians.
“We want to make sure those who cannot afford aged care are properly looked after because we don’t believe money should be the criteria for receiving quality care,” he says.
Of the 47% of respondents who had made no preparations for getting older, many of them claimed to have “never thought about it” or “didn’t want to think about it”.
The respondents’ top three priorities for aged care reform were to address workforce shortages in aged care (24%), improve the quality of life for aged care residents (21%) and increase the number of residential care places (17%).
Other key findings of the report included:
A significant majority (70%) rejected the inclusion of the family home in a comprehensive aged care means test.
– More than half of those polled rejected reverse mortgages.
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Only 26% reported their current home was suitable to live in, without modification when they reach their 80s and 90s.
– Money worries were followed by the concern of being unable to receive proper care when they erre no longer able to look after themselves and not being able to maintain a reasonable standard of living for the rest of their lives.
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Other concerns about ageing included: loss of independence, quality of life and dignity, loss of drivers licence, poor health and loneliness.
What do you worry most about ageing? Share your thoughts on this latest report by commenting in the box below.
