Thinking ahead about aged care

While retirement opens the door to a new and exciting chapter in your life, in time it can also bring new challenges around managing your health and potential future care needs. Hopefully that’s still a long way ahead, but while you’re planning for your retirement, it might also be a good time to think about your potential future needs and the impact they might have on the financial decisions you make now. 
For many, the thought of becoming a burden on children or family in the years ahead can be stressful. It doesn’t need to be. Here are a few general things to consider. 
 

Planning for potential costs 

When it comes to aged care, one of the biggest concerns for most people is the cost. Funding for aged care services can be complex, but understanding your options and preparing financially can make a world of difference. You may want to research services and associated costs of Government-supported providers such as home care packages and residential aged care. A great place to start is the online resources provided by the Australian Government’s Department of Health, Disability and Ageing where you can access research, information about services and packages and useful links to additional information. 
 

Setting up advance care directives 

While it may be uncomfortable to think about right now, setting up advance care directives may be an important step in ensuring that your wishes will be respected, especially if you’re ever unable to make decisions for yourself. An advance care directive outlines your preferences for medical treatments and interventions, providing clear instructions for your family and caregivers during difficult times. Organisations like Advance Care Planning Australia offer guidance on how to create your advance care directive and having open conversations with your loved ones. 
 

Exploring home modifications 

There’s no place like home and staying there for as long as possible may be a priority for you. In time, you might need to consider modifications to your home so you can stay there safely. Installing handrails, ramps, or grab bars, for example, could help ensure that your living space remains comfortable and easier for you to access. You can find advice on home modifications and suitable housing options through online resources such as My Aged Care. 
 

Researching aged care facilities

If the time comes when moving into an aged care facility is necessary, it’s important to understand your options. You might want to research facilities in your area, considering factors such as location, facilities and services, and staff qualifications. The Aged Care Quality and Safety Commission oversee the quality of care provided in these facilities and their website has lots of good information to help guide your decisions.