How much does entering a retirement village cost?
The national average price of a two-bedroom Independent Living Unit (ILU) in a retirement village increased from $463,000 in 2020 to $484,000 in 2021 and $516,000 (6.6%) in 2022, according to the PwC Property Council Retirement Census. CoreLogic’s June 2024 median dwelling house price reflects…
End ban on seniors receiving contributions into retirement-phase super accounts
Residents who enter retirement living, be it in a village or an independent living unit, face many impediments if they want to return to the workforce as many need to. The Super Members Council of Australia, a lobby group, argues the ban on receiving contributions…
The retirement plans of Australians are changing
710,000 people intend to retire in the next five years, with 226,000 in the next two years, according to the Australian Bureau of Statistics’ latest release Retirement and Retirement Intentions, Australia. 130,000 people retired in 2022, at an average age of 64.8 years. On average,…
Federal Budget 2024: The gift to most residents in rental communities
The 2024-25 Federal Budget, announced by Treasurer Jim Chalmers last week, has granted a second-consecutive increase to Commonwealth Rental Assistance (CRA), which is vitally important to those in Over 50s rental accommodation. Dr Chalmers promoted it as the Government is “providing $1.9 billion over five…
Ignore the ‘$1 million in super to retire’ advice: here’s what you need to know
As people age, the algorithms seem to know and suddenly, you are besieged with links to stories that espouse the need for a superannuation of $1 million and more. It is great if someone does have that amount. The Association of Superannuation Funds of Australia…
How to choose an in-home carer: seek the X factor
Words by Danielle Robertson Outsourcing the care of your loved one is a big step. It involves coming to terms with having strangers in a loved one’s home, at a time in life when they are at their most vulnerable, and invariably with you unable…
What is a serviced apartment in a retirement village?
Some retirement villages offer serviced apartments, which are ideal if you or a loved one requires extra support. Serviced apartments are generally studio-sized, or have a separate bedroom, and include a private bathroom, kitchenette, and living area. They will often have a balcony or courtyard…
Online information hub launched to try to help NSW seniors save money
With the rising cost of living hurting all parts of society, the NSW Government has launched a one-stop online shop to try and make it easier for people aged over 65 to manage. One in six NSW residents is aged over 65, with about two-thirds…
Age Pension, Disability Support Pension and Carer Payment to rise on 20 March
Around five million people will receive a boost to their social security payments when indexation takes effect next Wednesday. Those receiving Age Pension, Disability Support Pension and Carer Payment will receive an increase of $19.60 a fortnight for singles and $29.40 a fortnight for couples…
Six reasons to consider going into a retirement village
According to the Retirement Living Council’s new report ‘Better Housing for Better Health’, released earlier this month, there are six key reasons to consider entering retirement living. Better health Retirement villages combine communal facilities, programs and services to improve both the physical and social…