When planning your finances for aged care, knowing where to start can be confusing, but there is help available.
There are a number of organisations that offer free information about how to prepare for retirement through programs such as the Home Equity Access Scheme – a voluntary reverse equity mortgage that offers older Australians an income stream to supplement their retirement income, and the No Interest Loans Scheme (NILS) – providing individuals and families on low incomes with access to safe, fair and affordable credit.
For further information online, visit:
- Services Australia: www.servicesaustralia.gov.au/financial-information-service
- Good Shepherd (NILS): www.goodshep.org.au/services/nils/
- MoneySmart: www.moneysmart.gov.au
- My Aged Care: www.myagedcare.gov.au/financial-support-and-advice
Note: This article is for informational purposes only and does not constitute financial advice. Please seek independent advice by consulting with the organisations above and/or a financial professional to address your particular situation.