You may have seen the ABC 7.30 report recently talking about retirement villages, and the confusion about what moving into and leaving one can cost. It’s an all too common story – years after the contract is signed the resident (or their estate) do the sums and work out what they get back. The other side of that coin is the people who want to move to a retirement community but they are frightened by such stories…..they delay and delay. When they finally move in they love it and regret not doing it sooner!
The answer to overcoming both types of regret is to be informed. Understand what the legal and financial arrangements are, what services (including care) you can access; and crunch the numbers on what you pay going in, while you’re there, and when you leave.
To help people navigate the maze of retirement communities Rachel Lane and I have co-authored The Retirement Living Handbook. The book covers all the important aspects of moving to a retirement community; from selling your home to finding the right retirement community, the different forms of legal contract and financial arrangements, and the impacts on pension entitlement and eligibility for rent assistance. To put all the concepts into a real life context we have included more than a dozen case studies from Australian retirement communities.
Book Launch events will be held in Melbourne, Sydney and Brisbane in October – please come along!
For details go to retirementhandbook.com.au