Women often take on the majority of unpaid caring responsibilities, supporting ageing parents, partners with illness, and family members with disability while balancing work, family, and personal commitments.
While caring can be deeply rewarding, it also brings a significant mental load. Coordinating appointments, managing medications, advocating for loved ones, and navigating complex aged care systems can create ongoing pressure, with little separation between caregiving responsibilities and everyday life.
Over time, these demands can affect both mental wellbeing and financial security. Reduced working hours, career interruptions, and the emotional strain of caring can have lasting impacts, making access to the right support and guidance more important than ever.
The financial impact of caring
Many women reduce working hours, turn down career opportunities, or step away from the workforce entirely to provide care. This can lead to:
- Reduced superannuation accumulation
- Slower career progression
- Long-term income gaps
- Increased financial stress
Financial pressure compounds emotional strain. When someone is worrying about a parentʼs wellbeing while also thinking about their own retirement, the stress is constant. For advisers, these realities often sit behind the numbers.
Why the aged care system adds complexity
The aged care system is complex. There are assessments, funding categories, waitlists, providers and compliance requirements. Even highly capable professionals can find it difficult to navigate. For many families, uncertainty about where to start – or fear of making the wrong decision – creates delay, frustration and added stress.
Reducing pressure with practical support
Acknowledging the financial implications of caring is important. Reducing the burden is equally critical. Care & Co Match provides expert guidance through the aged care system, helping families to:
- Clarify care needs
- Navigate aged care pathways
- Identify appropriate providers
- Coordinate communication
- Reduce administrative and emotional strain
By removing complexity, families are better positioned to make informed financial decisions and maintain focus on their long-term goals.
Supporting the whole client
As your financial advisers, our role extends beyond managing investments and planning for the future. True financial wellbeing means recognising the real-life pressures that can influence your financial decisions, income, and retirement plans.
For many families, caring responsibilities for ageing parents or loved ones can become an unexpected and complex part of that journey. These situations often bring both emotional and financial considerations, and having the right support can make a significant difference.
Thatʼs why we partner with Care & Co Match. Through this partnership, we can connect you with trusted specialists who provide personalised guidance in navigating aged care services and options. Their support helps ensure you and your family have clarity around care decisions, while we continue to focus on protecting and planning your financial future.
Together, this approach allows us to support you more holistically, helping you manage both your familyʼs needs and your long-term financial wellbeing with greater confidence.
To learn more about Care & Co, please contact your Financial Adviser or our office.
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. While we believe the information in this article is accurate at the time of publication, we do not warrant its completeness or reliability. Information is subject to change without notice.