As in the iconic Australian movie “The Castle,” Michael Caton’s character, Darryl Kerrigan said, “It’s not a house, it’s a home, a man’s home is his castle.”
As we get older it can become more and more difficult to maintain our independence as the things we used to do become increasingly difficult. Whether this is the case for yourself or a loved one there are a number of support options available that can help to maintain that independence and allow you or your loved one stay in your ‘castle’ for longer.
Help at home looks different for each person. It may mean getting assistance with chores such as cleaning, yard work, shopping and cooking. Or it could be receiving personal care to bath, dress, and get in and out of bed. The care you need may be short-term as you recover from a hospital stay or it may be required for the long term. It may even mean getting modifications to improve your safety and mobility around the house.
The Australian Government offers assistance through several care options to support individuals to stay in their homes longer.
Home Care Package
To receive a Home Care Package there is an assessment process to determine your eligibility and level of assistance. If you are assessed as eligible to receive a Home Care Package, you have a budget to assist with paying for the services you need. Your budget will depend on your level of care.
If you are eligible for a Home Care Package, it’s important to understand what fees you may have to pay – this will depend on the number of services and complexity of the services your need. How much the Government will contribute will depend on your assistance level assessment. It’s helpful to do all this before you choose your care provider. Having all the information upfront can help you make the right choice for your care needs and financial situation.
For more information visit My Aged Care.
If you are caring for a loved one, it is also important to take time for yourself to look after your own health and well-being. There is support available, both emotional and practical. For more information visit Carer Gateway.
What is most important is to remember it is ok to ask for help.
When planning for aged care, either your own or an aging parent, there are many considerations when looking at funding said care. Like all big financial decisions, it pays to discuss this with your experienced financial adviser.
Katrina Dhu (GradDipFinPlan, DFS(FP), ADFS[FP]) is a representative of Alman Partners Pty Ltd, Australian Financial Services Licence No: 222107.
Any information provided to you was purely factual in nature. It has not been taken into account your personal objectives, situation or needs. The information is objectively ascertainable and is not intended to imply any recommendation or opinion about a financial product. This does not constitute financial product advice under the Corporations Act 2001 (Cth). It is recommended that you obtain financial product advice before making any decision on a financial product such as a decision to purchase or invest in a financial product. Please contact us if you would like to obtain financial product advice.