Later Life Advice

The retirement village lifestyle suits many Australians: community, convenience, and a range of amenities that make sense in the early stages of retirement. This lifestyle choice means details around contracts, costs and exit fees are often skimmed over, and a recent survey* found that over half of all retirement village residents find their contracts difficult to understand. The cost of entering a retirement village is high, hundreds of thousands and even millions of dollars. However, money is often exchanged after downsizing when most people don't feel huge amounts of financial pressure, and planning for 10 years down the track seems unnecessary. When signing a retirement village contract, remember that you're dealing with seasoned sales professionals whose priority isn't always in your best interests or based on how your longer-term situation may play out. They may seem friendly and helpful, but that's a good salesperson's skill. Professional advice will help you understand the agreement you're entering into and the real-world ongoing costs and exit fees so you can make informed decisions. With over 20 years of experience helping retirees like you, our team is always happy to help you get the best result possible. W: www.laterlifeadvice.com.au E: agedcare@laterlifeadvice.com.au P: (02) 9173 8560 - - *National Retirement Village Resident Association Survey Dec 2024

Later Life Advice specialises in helping retirees make well-considered decisions when they move into aged care and retirement villages. Due to the positive effect on the overall cost of care, we often recommend paying a Refundable Accommodation Deposit (RAD) when entering a facility. For many people, a RAD can be in the hundreds of thousands or even millions of dollars, so it isn't surprising that we are often asked how safe that deposit is; so we've outlined how to find the information that is relevant to you in this video and here on our blog. https://lnkd.in/g_jypQux With over 20 years of experience helping retirees like you, our small, practical team is always happy to help you get the best result possible. W: www.laterlifeadvice.com.au E: agedcare@laterlifeadvice.com.au P: (02) 9173 8560

Are you considering a move to a #retirement village? Here are the top 5 things you need to know. #1. Choose the Right Contract. #2. Understand Your Entitlements. #3. Plan for Your Future Care Needs. #4. Maintain Liquidity. #5. Utilise Available Data. Leverage the NSW Government's register, which provides vital information on operators. We've written a simple blog post to help you understand more about these critical areas. https://lnkd.in/gwAkpVqT If you're sorting through forms and contracts, having an expert on your side can make a big difference. With 20 years of experience, the team at Later Life Advice can give you the guidance and peace of mind you need to get on with life. Brendan Ryan CFP W: www.laterlifeadvice.com.au E: agedcare@laterlifeadvice.com.au P: (02) 9173 8560

Are you thinking about moving into a retirement village? Here are the top five things to know before signing on the dotted line. #1. Choose the Right Contract. It's crucial to understand which one best aligns with your specific needs. #2. Understand Your Entitlements. Familiarise yourself with potential government benefits. #3. Plan for Care Needs. Over half of Retirement Village residents move to full-time residential aged care, and you need to know the financial realities. #4. Maintain Liquidity. Be cautious about locking too much capital into the retirement village; plan for the unexpected. #5. Utilise Available Data. Leverage the NSW Government's register, which provides vital information on operators. We've written a simple blog post to help you understand more about these critical areas. https://lnkd.in/gwAkpVqT If you're sorting through forms and contracts, having an expert on your side can make a big difference. With 20 years of experience, the team at Later Life Advice can give you the guidance and peace of mind you need to get on with life. W: www.laterlifeadvice.com.au E: agedcare@laterlifeadvice.com.au P: (02) 9173 8560 - - #retiree #retirmentplanning #advice

The team at Later Life Advice takes great pride in helping retirees make the right decisions when they move into aged care and retirement villages. As part of our advice on managing ongoing aged care payments, we often recommend paying a Refundable Accommodation Deposit (RAD) as it can positively affect the overall cost of care. A RAD can be in the hundreds of thousands or even millions of dollars, so it isn't surprising that we are often asked how safe that deposit is. We've made a short video that explains how to find out what your Refundable Accommodation Deposits would be and essential information about the facility you're looking at. https://lnkd.in/g_jypQux We've also included a map of all NSW Retirement Villages and Aged Care facilities to share invaluable information, such as the star rating, rooms, costs, compliance, quality measures, staffing and, importantly, how residents feel about the provider. We're here to help you cut through the noise and paid Google ads to find accurate information that can benefit you and your family in the long term. With over 20 years of experience helping retirees like you, our small, practical team is always happy to help you get the best result possible. W: www.laterlifeadvice.com.au E: agedcare@laterlifeadvice.com.au P: (02) 9173 8560 - - #retirement #retiree #agedcare #reitrementvillage

Did you know buying into a retirement village is considerably more complex than buying a house or unit? If you are thinking about buying a retirement village unit, and you're leaning on your knowledge of the real estate market, please take a minute to consider these questions: - Do you realise that there are no standard retirement village contracts? - Do you understand how the exit fees will affect you? - Do you know what the ongoing costs are? - Do you know what the Deferred Management Fees (DMF) are for the unit? - Do you understand how the DMF works? - And do you genuinely understand what you're spending your money on? Retirement Villages are businesses, so if you answered no to any of these questions, it may be because they can make finding this information difficult - you might not even get some of it until after you pay your deposit. It's crucial to scrutinise contracts with a clear lens, ensuring you know what it could mean for you now and in the future. With over 20 years of experience helping retirees like you make well-considered decisions, Later Life Advice can give you the support to move forward confidently. To find out more, get in contact today. W: www.laterlifeadvice.com.au E: agedcare@laterlifeadvice.com.au P: (02) 9173 8560 - - #retirement #retirementvillage

Our experience has shown us there are no standard retirement village contracts, and residents in the same village often have entirely different agreements. For this reason, each contract needs careful review to understand its long-term impact, including ongoing costs and exit terms. It's crucial to scrutinise contracts with a clear lens, ensuring you know what it could mean for you now and in the future. Don't risk surprises; having someone support you in addressing concerns before signing can save you time and money when you need it most. With over 20 years of experience helping retirees like you make well-considered decisions, Later Life Advice can give you the support to move forward confidently. To find out more, get in contact today. W: www.laterlifeadvice.com.au E: agedcare@laterlifeadvice.com.au P: (02) 9173 8560 - - #retirement #retirementvillage

When entering a retirement village contract, remember that you're dealing with seasoned sales professionals whose priority isn't always in your best interests or based on how your longer-term situation may play out. They may seem friendly and helpful, but that's a good salesperson's skill. Most retirement villages are thriving businesses with well-trained teams to present the lifestyle as inviting while often glossing over important details. Critical information, such as ongoing costs, exit fees, and other contract terms, can sometimes be hard to find out until well into the sales process. That's where our team at Later Life Advice steps in. We ensure that all of the information is known upfront and that your situation is taken into account early in the process - we want to give you the confidence that all decisions are made with clarity. To find out more about how we work, get in contact today. W: www.laterlifeadvice.com.au E: agedcare@laterlifeadvice.com.au P: (02) 9173 8560 - - #retirement #retirementplaning

Buying a retirement village unit is more complex than most people think. It's not like buying a house, and it's worth pointing out that the village operators might not have your best interests in mind when you're looking to commit, especially when detailing ongoing costs and exit fees. The average resident enters a retirement village after the age of 75. We understand parents and seniors don't want to rock the boat, ask hard questions, push back on salespeople or challenge complex contracts. But the team here at Later Life Advice specialise in helping retirees navigate complicated contracts and the financial reality that signing them could mean. Over 20 years of experience helping retirees like you make well-considered decisions means we can give you the support to move forward with confidence. To find out more about how we work, get in contact today. W: www.laterlifeadvice.com.au E: agedcare@laterlifeadvice.com.au P: (02) 9173 8560 - - #retirementplanning #retirementvillage #agedcare

Buying into a retirement village is considerably more complex than buying a house or unit. If you are thinking about buying a retirement village unit, and you're leaning on your knowledge of the real estate market, please take a minute to consider these questions: - Do you understand how the exit fees will affect you? - Do you know what the ongoing costs are? - Do you know what the Deferred Management Fees (DMF) are for the unit? - Do you understand how the DMF works? - And do you genuinely understand what you're spending your money on? Retirement Villages are businesses, so if you answered no to any of these questions, it may be because they can make finding this information difficult. You might not even get some of it until after you pay your deposit. We often see retirees put too much focus on unpredictable investment markets and then skim over complex contracts with retirement villages and aged care homes. Housing decisions are considerably more important for retirees. When it comes time to move to aged care, the contracts and their financial implications should be fully understood before the move. With over 20 years of experience helping retirees like you make well-considered decisions, Later Life Advice can give you the support to move forward confidently. To find out more, get in contact today. W: www.laterlifeadvice.com.au E: agedcare@laterlifeadvice.com.au P: (02) 9173 8560 - - #retiree #retirement #retirementvillage