Healthcare
or many retirees, having companion animals is important to them and, thankfully, many modern retirement homes are making allowances for retirees to keep small pets such as cats and dogs. Pet food, vet care, medication, medical treatment and pet accessories
Ideally, avoid using rules of thumb when determining your post-retirement income needs, and consider your actual situation. Firstly, make a list of those expenses that are likely to fall away when you retire, such as bond and car repayments, long-term
For most people, their ability to build wealth is largely dependent on generating an income. If illness or injury renders you unable to work or perform your occupation, you may find yourself in a position where you are unable to
Medical expenses such as doctor, specialist and hospital costs are not regulated, and service providers are entitled to charge fairly for their services. However, the Department of Health has issued a price guideline (known as the Reference Price List (RPL))
Common diseases which are a function of aging include cancer, dementia, Alzheimer’s disease, heart and vascular diseases, Parkinson’s disease, hearing loss, cataracts and refractive errors, osteoarthritis, diabetes, and depression – and, sadly, many aged people tend to suffer from several
Where the older spouse chooses to retire while the other spouse continues working, the couple will need to contemplate how to replace the lost income of the retired spouse without jeopardising their retirement capital. If the couple starts drawing down
If you’ve never had a retirement plan prepared and you don’t know whether you are putting away enough for retirement, this will undoubtedly be a source of stress for you. According to the 10X Retirement Reality Report, 67% of economically
Planning to live a long life also requires that you give careful consideration to your investment strategy, bearing in mind that a thirty-year period is considered a long-term investment horizon. If you are invested too conservatively by taking on too
Many retirees hold onto the family home for sentimental reasons only to find themselves burdened with a large property, costly maintenance and upkeep which makes them feel overwhelmed, and an illiquid, risky asset. Moving home is always stressful, but particularly
Even once their adult children have their own homes and families, many retirees choose to hold on to the family home for sentimental reasons rather than downscaling to a more manageable-sized property. If the longer-term plan is to ultimately downscale
