Financial advice

When searching for a financial advisor, asking these questions can help you find the right person to assist you in accessing aged care and ensure you are able to meet all your personal goals.

You should be open with your financial advisor about your financial situation and what assets are available, so your advisor can provide the best advice for your situation.

That is why, when choosing a financial advisor you should also consider their personal attributes as an expert, such as how impartial and balanced their advice is, whether their advice and decisions are considerate and measured as opposed to emotional or impulsive, if they are easily able to explain complex information to you, and if they show interest and engagement in your personal situation.

You can find finacial advisors in the products and services directory on page 190 or search on AgedCareGuide.com.au

What will it cost?

Generally financial advisors charge a fee to help you with strategies to fund your aged care journey.

Fees will vary and it pays to contact a number of experts for a quote on their services so you can compare.

While financial advisor services do cost, the amount of money they can save you in the long run can make the advice and services worth it.

Seeking help from an expert means they will be able to access all the benefits and schemes available for your situation that you may not have known about and been able to access if you navigated the aged care system yourself.

If you cannot afford financial services, you can access Government financial counselling services for free.

Financial counselling

If you’re experiencing financial difficulties and have little income, you may be able to receive free financial counselling services.

Operating from community organisations, financial counsellors can provide independent and confidential information, support and advice on a range of areas including consumer credit law, bankruptcy and debt collection laws, industry hardship policies, and Government concession frameworks.

They can help you in your negotiations with financial institutions and creditors and may also be able to assist with your budgeting and referral needs.

Services are funded by State, Territory and Federal Governments and are provided free of charge.

Find out more about financial counselling services in your State or Territory on financialcounsellingaustralia.org.au or call the National Debt Helpline on 1800 007 007 to speak to a financial counsellor over the phone.

Disclaimer: The information in this book is general in nature and does not constitute legal or financial advice. Readers should seek their own personal legal and financial advice from a suitably qualified practitioner.