Explore our comprehensive guide on downsizing your home, with expert insights from Rachel Lane and Noel Whittaker. Discover the financial, logistical, and emotional considerations to ensure a seamless move to your new residence. Learn the strategic steps to a fulfilling lifestyle change and secure your future with our latest edition of ‘Downsizing Made Simple’.
Rachel Lane delves into retirement village buyback schemes. Learn how they work, their worth, the legislation behind them, and how they affect your financial decisions when leaving.
Answer: The short answer is 2 years, maybe 3. Late in 2022 the Social Services and Other Legislation Amendment (Incentivising Pensioners to Downsize) Act 2022, made a number of significant changes to the way the proceeds of your home are treated for calculating your pension while you are waiting to buy or build your new home. The […]
For many, the term “downsize” conjures images of a more compact, less expensive dwelling. Yet, downsizing doesn’t necessarily equate to moving into a micro-residence. In reality, it’s less about square metres and more about finding a home that aligns with the next exciting chapter in your life! Yes, at times downsizing means a smaller garden […]
Navigating superannuation and the financial intricacies of retirement can be challenging. Let’s delve into some common queries about these matters, which many Australians grapple with. Accumulation vs. Pension mode: what’s the verdict? At 70, earning $110,000 annually and with $550,000 in super in a balanced fund, one might wonder if leaving their money in accumulation […]
Mark your calendars for September 20th! It’s not just the usual indexation to pensions we’re looking at; this date also brings significant reforms to JobSeeker and Rent Assistance. These updates stem from the recently announced 2023-24 Federal Budget. Let’s delve into the specifics. Age Pension overhaul You’ll be happy to hear that Age Pension payments […]
Retirement village contracts are undergoing a significant shift, moving towards prioritising certainty and flexibility for residents over offering them a portion of the capital gain on their units. The latest data from the 2023 Retirement Living Census reveals fascinating insights about the evolving nature of these contracts. If you’re considering the move to a retirement […]
For many Australians approaching their golden years, the family home starts to feel like the “forever home”, a place to spend the serene retirement years. However, the choice to downsize can be a monumental one, requiring thorough research and introspection. Step 1: Understanding the ‘why’ behind downsizing The reasons for downsizing are as diverse as […]
Superannuation’s so-called ‘death tax’ is a topic that’s sparked a lot of interest. However, its complexities and the ways to mitigate it are often not clear to many. Let’s delve deeper into what this tax is and how one can potentially work around it. A brief on superannuation components In layman’s terms, your superannuation balance […]
When considering the move to a retirement village, one can easily become overwhelmed with the intricate financial details. Numerous fees and costs make it a daunting process for many. Nevertheless, by segmenting these fees into ‘ingoing’, ‘ongoing’, and ‘outgoing’, the task becomes much more manageable. Here’s a breakdown of five essential steps to navigate the […]