Help Your Parents Make The Big Decisions

From financial planning to choosing where to retire, it’s important to have the right information

THE AGE PENSION

Around two thirds of Australians of retirement age receive a full or part-time pension. But the application process can be daunting. Eligibility depends on a wide range of factors, including income, assets and living arrangements.

“Remember, lots of older people have mixed emotions when it comes to retirement,” explain the team at Alteris Lifestyle and Care, who are specialists in the area of retirement-living financial advice. “Talking to your parents about the possibility of easing into retirement with reduced working hours, considering a transition to retirement superannuation pension with a part age pension, or simply being available to support them through the process can lessen the stress and anxiety at this, sometimes confronting, time in their lives.”

Consulting a financial adviser to determine the options available can help your parents achieve the outcome right for them. Alteris Lifestyle and Care have a team of advisers who assist with retirement living decisions on a daily basis. For more, visit alteris.com.au.

MAKING A WILL

It’s a subject many of us don’t like to think about (much less talk about!), but encouraging your parents to take charge of their affairs now can save a great deal of pain in the future.