Amy was selling her home in Sydney for just over $1.1M, & she was looking to move into an Aged Care facility where the Accommodation Payment (Bond) was $450K, & it had a large Extra Service fee of $87.50/day (on top of the other fees that usually apply). She also considered an Aged care facility where the bond was $950K, with no extra service fee.

Amy thought she couldn’t afford the aged care facility with a  $950K Accommodation Payment, however once we had done our financially modelling, the outcome showed that If Amy sold her home & paid a bigger bond, then in her case, she would receive a great deal more in Age Pension, & not have to pay the Extra Service Fee, but would have less money invested earning income (however because interest rates are currently so low, the interest earned on a larger amount of money would not be much). Consequently, Amy was better off financially by $30,000pa if she went to the aged care facility that had the $950K Accommodation bond.

The problem for most people is that they simply look at the Lump sum bond & make assumptions around whether they can afford it based on that 9in Amy’s case $450K versus $950K) but once everything is taken into account the outcome can be staggeringly different than  they expected.

An “Aged Care Options” appointment not only explains it all to you, it also shows you what the real difference between options actually looks like & allows you to make an informed choice. Why not call to have an initial consultation over the phone, there is no cost & no obligation for an initial consultation. It just might make the world of difference & save you money, just like it did for Amy