Thinking about downsizing? Then check out this upcoming event – it has free tips for seniors preparing for retirement.
SENIORS CAN DISCOVER valuable insights into preparing for retirement living when one of the country’s foremost experts, Rachel Lane, shares her tips at a free event. The gathering will be hosted by RetireAustralia’s The Verge at Burleigh G.C. retirement community.
Rachel is the Principal of Aged Care Gurus, and has authored several books on age-related issues.
RetireAustralia: Seniors Looking to Downsize
RetireAustralia’s CEO, Dr Brett Robinson said the free session was designed to demystify the process of buying into a retirement community. “Getting ready for retirement can seem overwhelming at first. That is why RetireAustralia is committed to providing seniors with free access to leading industry experts, to help them find the right home to suit their needs. Seniors can discover what they need to know about the ingoing, ongoing and outgoing costs of retirement living at this session, gain a basic understanding of the way different contracts work and how to approach the task of downsizing.’’
Rachel said that while there were many factors to weigh up before moving into retirement village living, there were many benefits. “Initially for many it may seem easier to stay in your own home, but there’s usually a turning point such as the loss of a spouse or health concerns that exacerbate social isolation and prompt a reconsideration. Once people move into a village, they commonly ask themselves why they didn’t do it sooner.’’
TOP TIPS FOR TRANSITIONING INTO RETIREMENT VILLAGE LIVING
■ Get a feel for the community: Many retirement communities host Friday night happy hours. Or in the case of The Verge, regular Meet Your Future Neighbours events. Join in these activities for a sense of how you will fit in.
■ Understand your contract: Your contract may have consequences for your pension. Your ability to afford the lifestyle you want as well as aged care into the future. Unfortunately, contracts are rarely looked at after they are signed, and the unexpected happens. Break the contract into three time zones. Before you move in, while you live there and when you leave to help identify what happens when.
■ Crunch the numbers: A lot of people look at just the upfront costs. But for a true comparison you should factor in ingoing, ongoing and outgoing costs such as exit fees.
■ Seek advice: As with any major purchase, it is important to seek independent advice from reputable legal and financial experts, as well as understand how downsizing may affect your investments. pension and how you structure your superannuation.
The exclusive Rightsize your Retirement information session will be held from 10am to 12noon. March 30 2021, at the Ocean View Room at North Burleigh Surf Club, 293 The Esplanade, Miami.
Places for the Rightsize your Retirement session are limited. RSVP is essential by visiting the website at thevergeburleigh.com.au/events or call 1800 955 070. A light morning tea will be served before the presentation.
Click here to get more info about Burleigh.
Editor for Silver Magazine Gold Coast
