Retirement Village FAQ

Frequently Asked Questions

Below you’ll find answers to some of the most frequently asked questions regarding Retirement village. We are constantly adding most asked question to this page so if you have a question and don’t see your answer, don’t hesitate to email us at example@email.com.au

Questions

Definitely not! At Retirement village Financial Planning, we operate on a strict no surprises, Fee for Service basis and will always let you know what the costs are beforehand.

We have absolutely no institutional involvement and focus on the right strategy with no undue influence from product providers.

In the event that you have an older Grandfathered product that we’re retaining, if we can’t turn the commissions off, we’ll rebate them back to you in full.

Maybe / maybe not. Part of the process is determining the implications of each choice (retain/retain and rent/sell) on cash flow and asset/estate position.

The financially optimal solution isn’t always the best solution for your family and we can help you make an informed choice.

Definitely. Whether you’re a Self Funded Retiree or in receipt of a Centrelink/DVA Pension, entry into Care will need some DHS/Centrelink forms filled out correctly.

If standing in line at your local Centrelink office doesn’t sound like fun, we can help.

Reduce stress is a big one, but more tangibly we can increase Aged Pension, reduce Retirement village fees, protect Estates, minimise tax and lay out a clear road map for the whole family.

The rules are constantly changing and we stay on top of what levers we can pull to keep you in the best position.

  • How your age pension is affected?
  • How to pay for your accommodation?
  • What you will pay for your ongoing care?
  • Whether you need to pay any tax?
  • Whether you have enough cashflow to pay for your care and living expenses?
  • The impact on your net wealth and your estate?

Proper Retirement village planning complements estate planning by respecting the wishes of the aged, minimising estate losses and encouraging cooperation amongst family members.

We can help remove emotion from the decision making process so family members can think clearly and make an informed decision. Effectively, we can take the target off the back off the main decision maker and make sure the family are all on one page.

If you have low levels of income and assets you may qualify as a low-means resident. The amount you pay towards your accommodation will be based on your income and assets. The government will also pay some of the cost.

As a general rule, you are only likely to qualify if you do not own your own home or if your spouse or other “protected” person will continue living in your home and you have income and assets under certain thresholds. This isn’t always the best outcome, so make sure you get in touch if you’ve heard any of these terms mentioned.

Not quite a question, but a very common concern from clients.

As Financial Planners, we understand the deep and trusted relationship that you hold with your trusted advisor. Retirement village is a very specialised area and with the constant changes to rules, documentation, landscape, most Financial Planners are happy to outsource this area to a specialist and is the soure of many of our referrals.

We are happy to take care of the Strategic Retirement village recommendations which are complementary to the services already provided and can involve them in the decision making/implementation, if appropriate.

  • 1300 007 832

RVFA has been working with Australian seniors and their families so we can cut the financial stress that comes with this important yet highly complex life phase.

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Our Free Guide

“Your Free Guide to Aged Care Finances” is a FREE Download that explains how the aged care system works & covers:

  • Types of care – low/high care, extra service
  • How to pay the RAD
  • Retirement Village fees and charges
  • Implications for the pension
  • What to do with the family home
GET THE GUIDE

SHAUN GANGULY IS AN AUTHORISED REPRESENTATIVE OF LEISHMAN FINANCIAL SERVICES PTY LTD AFSL 227747. SHAUN GANGULY IS EMPLOYED BY JOURNEY WEALTH PTY LTD ABN 42 634 913 616 WHICH IS PROVIDING ADVICE AND OTHER FINANCIAL SERVICES AS A CORPORATE AUTHORISED REPRESENTATIVE OF LEISHMAN FINANCIAL SERVICES PTY LTD.