Last year we have all had a taste of what it is like to lose some independence and be confined at home. Not able to get out. And not easy to see the doctor or do the groceries without some planning ahead.
But what if the reason was not an international pandemic and was not affecting everyone in your street, just you? What if it was due to your own frailty? With the potential for frailty (on average) to span 20% of our retirement years, we need a plan. We need to think ahead. Decide what is important. Identify the trigger points. Socialise the plan with our family.
While this may sound grim, it is not all bad. Having a plan can set you up to have choices and more control so you can maintain as much independence as possible. If frailty creeps up and you have not planned ahead, you might find yourself herded down a path based on the bias and the goals (no matter how well-intentioned) of the person who first says “I can help”.
A plan gives you time to consider your preferred choices and be prepared. This may allow you to:
- Ensure your home is modified and ready to continue living there.
- Have your support teams in place.
- Take away some of the stress and uncertainty from your family.
- And most importantly, have the finances ready to pay for the support you need to ensure not only quality of care, but also quality of lifestyle.
But not everything always goes our way or how we planned. This is why planning is important. You can add contingency measures and decision pathways into your plan.
So how do you get started?
Don’t do it alone. It is too hard to be objective. Ask your financial planner for help. This is what they are good at Aspire.
In our business we believe in helping clients throughout retirement and continually review and modify plans so that the changes needed at life’s transition points can be implemented smoothly and effectively. We can also help with your family discussions.
Contact us today to make an appointment to discuss your current or future aged care needs.
We are here to help!
Leandro & the team at Aspire Planning
Authorised Representative of Affinia Financial Advisers Limited ABN 13 085 335 397 AFSL No: 237857. Any advice provided in this article is general advice only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. If any products are detailed on this website, you should obtain a Product Disclosure Statement relating to the products and consider its contents before making any decisions. Where quoted, past performance is not indicative of future performance. The views and opinions expressed in this article do not necessarily reflect the views and opinions of Affinia Financial Advisers Limited