The main goal of an Aged Care Retirement Plan is to ensure that people can maintain their preferred lifestyle, live independently for as long as possible, and access the best possible aged care if and when they need it.
An Aged Care Retirement Plan typically involves several key steps, such as:
1. Assessing your financial situation: This involves reviewing your income, assets, debts, and expenses to determine how much money you'll have available for retirement and aged care.
2. Understanding your healthcare needs: This involves reviewing your current health status and any potential future health issues to determine what types of care you may need and when.
3. Exploring aged care options: This involves researching and evaluating different aged care options, such as in-home care, retirement communities, and residential aged care, to determine what best suits your needs.
4. Identifying funding sources: This involves identifying potential funding sources for your retirement and aged care, such as government subsidies, superannuation, and personal savings.
5. Creating a plan: This involves putting together a comprehensive plan that outlines your goals, your preferred aged care options, and how you will fund your retirement and aged care needs.
An Aged Care Retirement Plan is typically created with the assistance of a financial planner, a healthcare professional, or an aged care specialist. They can help guide you through the process, provide advice, and answer any questions you may have.