Who will care for you when you are aged??

There are currently more than 3,200 people aged over 70 who live within 2.5 Km of where this new retirement village will be built.

And also the average entry age is 77 years for this retirement group with a minimum age of 65.

This were key facts in a brochure called a Community Update that just landed in our mail box.

Is this you or maybe Mum?

And so we read in our recent ongoing professional learning

the 60-plus age group is increasing, and approximately a quarter of their retirement years will be care based. These later years will possibly come with significant lifestyle changes, including a loss of independence.

“You can expect to be healthy and vibrant and go out and do whatever you want and be totally independent and travel the world and have a great time, then there’s a period of time where you start to slow down and maybe not so agile, but still able to be quite independent,”

“Then there’s a period of time where you need, potentially, to have somebody else helping you just to do the daily activities of living. That’s, on average, about 20 to 25% of retirement years.

How many years is that for us?

And who pays for that?

We also read this

“The maximum cost for somebody in residential care, the actual cost of care is up to about $105,000 per person per year. So, that’s the cost of residential care. Now, clients don’t pay anywhere near that, and we always see where clients say, ‘Well, I don’t see why we have to pay for aged care. This is ridiculous. I pay taxes. The Government should support me’,”

“I can guarantee you for nearly every person in residential care, the Government is putting in a lot of money. Its cost is up to about $105,000 [per person]. At most, all a client would be asked to pay, if they’ve got lots and lots of assets and income, at most it’s about $42,000 a year towards that $105,000. The Government’s potentially putting in the rest. Can the Government continue to afford that? No

And who will care for us?

This paragraph also resonated as yes we were bossed when we were caring for a week.

Gone are the days of relying on children

“long gone are the days when you relied on just your kids” to take the reins with aged care, as younger generations are now more mobile, transient and dispersed around the world.

As we have had one of the family not well due to a chill from the air-conditioning at the movies then we observe how lethargic & even useless they are. And that was only for a week.

Of course there are options for us all

·         lets remain as healthy & positive as long as we can. We all have relatives & family who batted on & went out fast.

·         Retirement villages developing and offering more home care choices

·         Emergence of over-50s parks and resort-style living with care

·         Group housing (some dementia specific)

·         Live-in care, private home care and home care packages

·         Growing support service industry for aged care options and delivery.

As we have our previous tennis partner with dementia then this investment buy from one of our USA subscriptions is another idea. I.e. another option

Death by Alzheimer’s has simply been accepted as death by natural causes. But like heart disease and cancer, we are on the verge of treating this dreaded disease

WHAT A CURE FOR ALZHEIMER’S LOOKS LIKE

To put it simply, this can be the cure for Alzheimer’s.

This drug candidate removes plaque based on how large a dose you get. It also slows or even stops the progress of this disease. And it’s reasonably safe. It’s not perfect – around 2% of patients will find this drug intolerable. But Alzheimer’s disease today is 100% fatal.

The drug (called BIIB-037) itself is a specialized antibody that grabs on to the Alzheimer’s plaque

….

Sorry we can’t give you the company recommended

As we ourselves prefer the very first option then as was beautify explained in Lessons in the subtle art of not giving a f---it is only a problem to be solved

Hence we prefer

1.       prevention as in T.I.N.A. as in there is no alternative

2.       and after watching this last Night on SBS then this is also a T.I.N.A but it does require a mental challenge. Others do.

i.e. Michael Mosley FASTING view now although you must watch until the end.

Aged care is a minefield & families have different agendas & the following trends to show how this situation will come under increasing pressure:

·         Refundable accommodation deposits (RADs) range from $100,000 to $2.5million, and averages are increasing (currently just under $400,000)

·         Service providers are increasingly charging additional “service fees”

·         There is increasing pressure to pay deposits and at least some of the RAD in order to be placed on waiting lists

·         Rent on former home to be considered assessable income (for fees only) if a resident moves into care from 1 January 2016

·         Asset test changes from 1 January 2017 may mean that many clients will lose some or all of their pension.

We just now had this reminder This is a reminder that " Technical Webinar: Keeping up with the octogenarians" will begin in 1 Day on:

We believe that we can generate significant financial certainty for you throughout our relationship & importantly add substantial value to ensuring you achieve all that is important & valuable to you as you have articulated to us.

If we were to sit down in three years time & looked back what do we need to do today so that you are financially & personally better off & hence happier.

As Bob wrote this week

Let me know if you need anything else. Keep pushing me as this needs to get done

& others do, call us on 07 3848 1088 or email us or visit our websites

John McAuliffe