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Why this 100-year-old woman was arrested

<p dir="ltr">A 100-year-old woman was arrested after local police officers found out that it was on her bucket list. </p> <p dir="ltr">Jean Bicketon was at Narracan Gardens Residential Aged Care in Victoria when three constables arrived in a police car with their lights flashing and siren blaring to arrest her. </p> <p dir="ltr">The former WWII nurse and her fellow aged care residents were spoken to, to assure them that no one was in fact in trouble. </p> <p dir="ltr">Ms Bicketon was then arrested and officers gently placed handcuffs on her, declaring her ‘officially’ under arrest. She did not resist.</p> <p dir="ltr">Victoria Police shared the incredible moment to Facebook, showing a happy Ms Bicketon as she was arrested. </p> <p dir="ltr">“Now these kinda arrests, we’re happy to make,” their post read.</p> <p dir="ltr">“For many, getting through life without being arrested is a pretty good run. An obvious one we would like to think.</p> <p dir="ltr">“But for ex-nurse Jean Bicketon - who recently celebrated her 100th birthday, a good run in and of itself - getting arrested was on her bucket list.</p> <p dir="ltr">“So, when we heard of Jean’s wishes, our team at Moe station were ready to step in and help check it off.</p> <p dir="ltr">“While celebrating her milestone at Narracan Gardens Residential Aged Care, three young constables whirled in, lights and sirens, to make sure Jean’s birthday wishes were met.</p> <p dir="ltr">“According to Jean it was one of the best celebrations, and we’re glad we could help grant the experience. Wishing Jean a wonderful 100th birthday!</p> <p dir="ltr">“Thanks to everyone that made this possible.”</p> <p dir="ltr">Ms Bicketon said it was an exciting experience and was happy that police accommodated her wish.</p> <p dir="ltr">“I've never been arrested in my life,” she told <a href="https://www.dailymail.co.uk/news/article-11132855/Ex-army-nurse-arrested-celebrating-100th-birthday.html" target="_blank" rel="noopener">Daily Mail Australia</a>.</p> <p dir="ltr">“I said to them I've never been drunk and I've never been arrested, never lost my driving licence and never had an infringement.”</p> <p dir="ltr"><em>Images: Facebook</em></p>

Family & Pets

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Why carers need time out too

<p>When we think of “aged care”, all too often our thoughts leap to hard-working nurses caring for the elderly, either in respite centres, retirement villages or via in-home care. But what about the unsung heroes of aged care we don’t hear quite so much about?</p> <p>Those unsung heroes are the everyday family and informal carers who take the time to look after an older family member or loved one to ensure they are comfortable – and yet they often do so without receiving the support or help they deserve.</p> <p>In fact, incredibly, there are a surprising number of people in that position who aren't even aware they ARE considered official "carers", and as such are entitled to support for their own health and wellbeing.</p> <p>It’s so important for these carers to be given the chance to take a break from their responsibilities, so that they can continue to look after their loved ones properly.</p> <p>That’s why <a href="https://www.resthaven.asn.au/about-us/" target="_blank" rel="noopener">Resthaven</a> places such an emphasis on looking to improve the quality of life not just for elderly Australians but also their carers.</p> <p>To this end, they offer quality residential aged care and in-home care services, retirement living, and wellness services in Adelaide and regional South Australia – all while campaigning to challenge the negative stereotypes that often come with aged care, and continuously looking to better their services.</p> <p><img class="alignnone wp-image-60627 size-full" src="https://oversixtydev.blob.core.windows.net/media/2022/06/O60_Resthaven-Carer-Photo-1.jpg" alt="Resthaven" width="1280" height="720" /></p> <p>To begin with, there are a few basic questions that <a href="https://www.resthaven.asn.au/support-for-carers/about-carer-support/" target="_blank" rel="noopener">Resthaven</a> asks so that carers are actually aware they are carers in the first place, and therefore entitled to valuable support.</p> <ul> <li>Do you provide daily support to a person without being paid?</li> <li>If you did not provide this support, would this person be unable to complete the tasks themselves? (Support may include shopping, paying bills, assisting with showering, making meals, providing transport etc.)</li> <li>Is the person unsafe when left alone for long periods of time?</li> <li>Has the person been diagnosed with dementia or a severe disability?</li> <li>Is the person you support frail or aged (over 65)?</li> </ul> <p>If any of these situations apply to you, then you are recognised as a carer and are entitled to support for your own health and wellbeing.</p> <p>Resthaven is committed to assisting carers alongside their everyday activities ranging from work, social engagement, an appointment, medical procedure, a volunteer commitment among other things.</p> <p><img class="alignnone size-full wp-image-60632" src="https://oversixtydev.blob.core.windows.net/media/2022/06/O60_Resthaven-Carer-Photo-2.jpg" alt="Resthaven" width="1280" height="720" /></p> <p>“A little respite support can sustain carers so they can continue their caring role, and the person they care for can stay living at home for longer,” a Resthaven spokesperson says.</p> <p>“Respite also provides carers and the people they care for with an experience of different care facilities that may be required in the future.”</p> <p>Resthaven offers caring, high-quality services for the person under your care and is also flexible to work around your schedule.</p> <p>The different types of respite on offer from Resthaven include:</p> <p><strong>In-home Respite<br /></strong>If the older person you’re caring for prefers to stay in their home, then Resthaven staff provide assistance by supporting their lifestyle. Support and activities are tailored depending on each individual as well as their needs, interests and requirements.</p> <p><img class="alignnone wp-image-60628 size-full" src="https://oversixtydev.blob.core.windows.net/media/2022/06/O60_Resthaven-Carer-Photo-4.jpg" alt="Resthaven" width="1280" height="720" /></p> <p><strong>Group Respite</strong><br />Older people who are involved in group programs are able to take advantage of social clubs and group outings offered by Resthaven.</p> <p><strong>Respite Cottages</strong><br /><a href="https://www.resthaven.asn.au/carer-respites/" target="_blank" rel="noopener">Respite cottages</a> are perfect for a day or short-term overnight getaway in one of Resthaven’s home-style environments. Respite cottages tailor planned group respite programs during the day according to the attendees’ needs and preferences. There is no minimum stay, instead a maximum stay of two weeks.</p> <p><img class="alignnone size-full wp-image-60579" src="https://oversixtydev.blob.core.windows.net/media/2022/06/O60_Toorak-Respite-Cottage.jpg" alt="Resthaven" width="1280" height="720" /></p> <p><strong>Carer Support Groups</strong><br />Carer Support Groups provide information, referrals, support groups, social groups, therapy and allied health services and counselling.</p> <p><strong>Residential Respite</strong><br /><a href="https://www.resthaven.asn.au/carer-respites/residential-respite/#map" target="_blank" rel="noopener">Residential respite</a> is available at any of Resthaven’s aged care homes across South Australia, with a minimum stay of two weeks to a maximum 63 days per year. Based on a member’s government assessment process and availability, a suitable place in Resthaven is then considered. A short period of residential respite offers carers the opportunity to have a break, a holiday, or simply some time out from their busy schedule. The person being cared for will be able to access the benefits of the site’s activities, social programs, library and internet café.</p> <p><img class="alignnone wp-image-60630 size-full" src="https://oversixtydev.blob.core.windows.net/media/2022/06/O60_Resthaven-Carer-Photo-3.jpg" alt="Resthaven" width="1280" height="720" /></p> <p>So if you’re in need of support or would simply like to know more about Resthaven’s aged care options, now’s the time to find out how they can be of service to you.</p> <p><em>All images: Courtesy of Resthaven.</em></p> <p><em>This is a sponsored article produced in partnership with <a href="https://www.resthaven.asn.au/" target="_blank" rel="noopener">Resthaven</a>.</em></p>

Caring

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Australia's residential aged care facilities are getting bigger and less home-like

<p>Most older people <a href="http://www.who.int/mental_health/publications/dementia_report_2012/en/">want to stay at home</a> as long as they can. When this is no longer possible, they move into residential aged care facilities, which become their home. But Australia’s care facilities for the aged are growing in size and becoming less home-like.</p> <p>In 2010–11, 54 per cent of residential aged care facilities in major Australian cities had <a href="https://www.aihw.gov.au/reports/aged-care/residential-aged-care-in-australia-2010-11/contents/table-of-contents">more than 60 places</a>, and the <a href="https://www.pc.gov.au/inquiries/completed/aged-care/report/aged-care-overview-booklet.pdf">size of the average facility</a> is growing.</p> <p>Today, more than 200,000 Australians live or stay in residential aged care on any given day. There are <a href="https://www.gen-agedcaredata.gov.au/Topics/Services-and-places-in-aged-care">around 2,672 such facilities</a> in Australia. This equates to an average of around 75 beds per facility.</p> <p>Large institutions for people with disability and mental illness, as well as orphaned children, were once commonplace. But now – influenced by the 1960s <a href="https://psychcentral.com/encyclopedia/deinstitutionalization/">deinstitutionalisation</a> movement – these have been closed down and replaced with smaller community-based services. In the case of aged care, Australia has gone the opposite way.</p> <p><strong>Why is smaller better?</strong></p> <p>Evidence shows that aged care residents have better well-being when given opportunities for self-determination and independence. Internationally, there has been a <a href="https://www.sciencedirect.com/science/article/pii/S1525861016300482">move towards</a> smaller living units where the design encourages this. These facilities feel <a href="https://www.ncbi.nlm.nih.gov/pubmed/26743545">more like a home</a> than a hospital.</p> <p>The <a href="http://apps.who.int/iris/bitstream/handle/10665/186463/9789240694811_eng.pdf;jsessionid=731A680E51575BBDBEC07AFC9C449F23?sequence=1">World Health Organisation</a> has indicated that such models of care, where residents are also involved in running the facility, have advantages for older people, families, volunteers and care workers, and improve the quality of care.</p> <p>In the US, the <a href="https://www.thegreenhouseproject.org/resources/research">Green House Project</a> has built more than 185 homes with around 10-12 residents in each. Studies show Green House residents’ enhanced quality of life doesn’t compromise <a href="https://www.ncbi.nlm.nih.gov/pubmed/26743545">clinical care</a> or <a href="https://www.ncbi.nlm.nih.gov/pubmed/21158746">running costs</a>.</p> <p>Around 50 per cent of residents living in <a href="https://www.gen-agedcaredata.gov.au/Resources/Factsheets-and-infographics/Care-needs-factsheet.pdf?ext=">aged care facilities</a> have dementia. And <a href="http://journals.sagepub.com/doi/abs/10.1177/1471301214532460">research has shown</a> that a higher quality of life for those with dementia is associated with buildings that help them engage with a variety of activities both inside and outside, are familiar, provide a variety of private and community spaces and the amenities and opportunities to take part in domestic activities.</p> <p>In June 2018, an <a href="https://theconversation.com/caring-for-elderly-australians-in-a-home-like-setting-can-reduce-hospital-visits-97451">Australian study</a> found residents with dementia in aged-care facilities that provided a home-like model of care had far better quality of life and fewer hospitalisations than those in more standard facilities. The home-like facilities had up to 15 residents.</p> <p>The study also found the cost of caring for older people in the smaller facilities was no higher, and in some cases lower, than in institutionalised facilities.</p> <p>There are some moves in Australia towards smaller aged care services. For example, aged care provider <a href="https://www.wintringham.org.au/">Wintringham</a> has developed services with smaller facilities for older people who are homeless. Wintringham received the <a href="https://www.wintringham.org.au/built_environment.html">Building and Social Housing Foundation World Habitat Award 1997</a> for Wintringham Port Melbourne Hostel. Its innovative design actively worked against the institutional model.</p> <p><strong>Bigger and less home-like</strong></p> <p>Historically, nursing homes in Australia were small facilities, with <a href="https://www.anu.edu.au/fellows/jbraithwaite/_documents/Articles/The%20Nursing%20Home%20Industry.pdf">around 30 beds</a> each, often run as family businesses or provided by not-for-profit organisations. Between <a href="https://www.parliament.nsw.gov.au/lcdocs/other/9768/Aged%20care%20industry%20facts.pdf">2002 and 2013</a> the proportion of facilities with more than 60 beds doubled to 48.6 per cent. <a href="http://www.stewartbrown.com.au/images/documents/StewartBrown---ACFPS-Residential-Care-Report-March-2017.pdf">Financial viability</a> rather than quality of care drove the increase in size.</p> <p>Today, around 45 per cent of <a href="https://gen-agedcaredata.gov.au/Resources/Access-data/2018/September/Aged-care-data-snapshot%E2%80%942018">facilities are operated</a> by the private for-profit sector, 40% by religious and charitable organisations, 13 per cent by community-based organisations, 3 per cent by state and territory governments, and less than 1 per cent by local governments.</p> <p>In 2016, the <a href="https://gen-agedcaredata.gov.au/Resources/Access-data/2018/September/Aged-care-data-snapshot%E2%80%942018">Australian Institute of Health and Welfare</a> (AIHW) reported that residential care services run by government organisations were more likely to be in small facilities. One-fifth (22 per cent) of <a href="https://www.gen-agedcaredata.gov.au/www_aihwgen/media/2017-Factsheets/Services-and-Places-Factsheet-2016%E2%80%9317_2.pdf">places in these facilities</a> are in services with 20 or fewer places. Almost half (49 per cent) of privately-run residential places are found in services with more than 100 places.</p> <p>All of this means that more older Australians are living out their last days in an institutional environment.</p> <p>Once larger facilities become the norm, it will be difficult to undo. Capital infrastructure is built to have an <a href="https://agedcare.health.gov.au/sites/g/files/net1426/f/documents/09_2016/2016_report_on_the_funding_and_financing_of_the_aged_care_industry_2.pdf">average 40-year life</a>, which will lock in the institutional model of aged care.</p> <p>The built environment matters. The royal commission provides an opportunity to fundamentally critique the institutional model.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;" src="https://counter.theconversation.com/content/103521/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: http://theconversation.com/republishing-guidelines --></p> <p><em>Written by <span>Ralph Hampson, Senior Lecturer, Health and Ageing, University of Melbourne</span>. Republished with permission of </em><a rel="noopener" href="https://theconversation.com/australias-residential-aged-care-facilities-are-getting-bigger-and-less-home-like-103521" target="_blank"><em>The Conversation</em></a><em>. </em></p>

Retirement Income

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Why respite care is so important for informal carers

<p><em><strong>Marissa Sandler is the CEO and co-founder of <span style="text-decoration: underline;"><a href="http://www.careseekers.com.au/" target="_blank">Careseekers</a></span>. Previously a social justice lawyer and researcher for over 15 years, Marissa is passionate about helping people live with dignity and finding innovative solutions to problems.</strong></em></p> <p>The end of the year is a great time of year, no school traffic, quiet streets and most of Australia takes a break. However, if you are an informal carer this may not be the case. Caring is a full-time job and doesn’t stop because its summer or Christmas or New Years. It is however very important that as a carer you do take a break. The best way to do this is by engaging respite care services of some description.</p> <p>Here are some fast facts to read about respite care so that you can take a break over the festive season.</p> <p><strong>What is respite care?</strong></p> <p>Respite care is care that is taken over by someone else to relieve an informal carer of their care giving duties for a loved one.</p> <p><strong>How does it work?</strong></p> <p>Respite care can be delivered in many forms.</p> <p><strong>1. Respite care in the home</strong> – A care or support worker can come into your home and take the load off you by looking after a loved one for a few short hours or even a few days/weeks. Connecting directly to care and support workers on platforms like <span style="text-decoration: underline;"><strong><a href="http://www.careseekers.com.au/" target="_blank">Careseekers</a></strong></span> is one way to find people who deliver respite care services.</p> <p><strong>2. Respite care in the community</strong> – Most local communities have adult day centres or neighbourhood centres where a loved one can go for the day. They will do casual drop ins as well on days when you may be feeling extra frazzled.</p> <p><strong>3. Residential based respite care</strong> – This type of centre enables loved ones to stay for an extended period of time – a few weeks and can be helpful if you need to travel.</p> <p><strong>4. Family or friend care respite</strong> – Close family and friends may be available to help you, especially if you open up and explain your situation and how additional help would lighten your load. There are also organisations who can send a volunteer to do some respite care.</p> <p>Emergency respite care and information on other types of respite care is available through <span style="text-decoration: underline;"><strong><a href="https://www.myagedcare.gov.au/caring-someone/respite-care" target="_blank">My Aged Care</a></strong></span> or  <span style="text-decoration: underline;"><strong><a href="https://www.carergateway.gov.au/what-is-respite-care?gclid=EAIaIQobChMIn5rRgJTo1wIVRyQrCh3uXQGuEAAYAiAAEgIomfD_BwE" target="_blank">The Carer Gateway</a></strong></span>.</p> <p><strong>Real life story</strong></p> <p>It was difficult for Cathy to watch her vivacious, opinionated mother Mary spiral into the depths of dementia. As her mother deteriorated further, Dora and her siblings assessed their options. They were adamant about keeping Mary at home. Luckily Cathy was able to move in with her mother and take on a full time caring role.</p> <p>Caring can be exhausting and Cathy soon found she needed some time out. With her other siblings unable to help, the family decided to hire in-home care workers. During her time off Cathy would book into a hotel and just have some down time. It made all the difference to the type of carer she was to her mum during the week. “It really recharged me for the week ahead. I was more patient and as a result mum was happier. If you are a full-time carer for a loved one you just have to have some time out.”</p>

Caring

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Shares vs investing in residential property

<p><em><strong>Kent Kwan is co-founder of AtlasTrend. With 15 years of professional experience in investing and international financial markets, Kent has successfully managed more than $1 billion in funds invested in international-listed shares.</strong></em></p> <p>In Australia, many cities have enjoyed a prolonged period of house price increases. As a result, it is safe to say that a large number of Australians have fallen in love with residential investment property as an asset class. The housing price increases that so many investors have enjoyed has also led to a popular perception that residential property is a relatively low risk way to invest.</p> <p>However, is investing in residential property really that low risk particularly if house prices start declining?</p> <p>Let’s compare the risks involved when investing in residential property versus another popular asset class, listed shares. Since the analysis to follow will be focused on risks, it will be looking at what could happen when things go wrong particular when prices decline. It is not meant to be a pessimistic one-sided analysis of investment property versus shares but rather presenting some facts about downside risks which are not often quoted in glossy marketing brochures.</p> <p><strong>Borrowing risks</strong></p> <p>Borrowing money to buy an investment property has become somewhat of a national pastime. While debt on an investment property can significantly increase investment returns when property prices are rising, the opposite is also true. The table below shows how much an investor would lose in principal capital value for a given level of decline in prices and loan to value ratio.</p> <p><strong>Investment principal capital loss table</strong></p> <p><img width="498" height="160" src="https://oversixtydev.blob.core.windows.net/media/28477/image-1-investing-in-shares-vs-investing-in-residential-property_498x160.jpg" alt="Image 1 Investing In Shares Vs Investing In Residential Property" style="display: block; margin-left: auto; margin-right: auto;"/></p> <p>At a 90 per cent loan to value ratio, a house price decline of a mere five per cent would result in an investor losing 50 per cent of the equity they have in that investment. Is it possible Australian residential property prices can decline by five per cent?</p> <p>The short answer is yes. In fact, in cities such as Perth and Darwin, the average house prices have already declined by this amount or more over the last 12 months.</p> <p>Although it is also possible to borrow money for investing in listed shares, the maximum a bank will normally lend against listed shares is much lower than what they will lend against an investment property. For example, many banks will lend up to 90 per cent or more of the value of an investment property but will only lend up to 70 per cent against large blue chip shares. As a result, investors are not able to gear their share investments as much as property investments which leads to a measurably lower risk of suffering substantial losses on principal capital value if prices decline.</p> <p><strong>Liquidity risks</strong></p> <p>During a housing price downturn, it usually takes a longer period to sell a house. Again, let’s take Perth as an example where publicly available statistics show the average number of days for a house to sell has increased from under 50 days when house prices were rising rapidly to over 70 days when house prices started to fall.</p> <p>If you have an unexpected life event which requires access to cash at short notice, having the majority of your investments in residential property can be an issue. This is an even greater risk if the property has a high loan to value ratio in a declining house price environment as the banks are unlikely to lend any more money against that property.</p> <p>In comparison, most listed shares (particularly blue chip shares) are highly liquid and can be sold for cash within a few days. Whether it is due to an unplanned need for cash or if you simply want to rapidly de-risk your investment portfolio during a market downturn, listed shares tend to have substantially less liquidity risk than a direct investment in residential investment properties.</p> <p><strong>Investment concentration risk</strong></p> <p>Do you know someone who owns a residential investment property in the same city or even suburb that they live in?</p> <p>If that person’s only substantial investment is in one or two residential investment properties, they are likely to have significant investment concentration risk. For example, someone who works in Sydney, lives in in Sydney and invests only in residential property in Sydney is completely exposed to how the Sydney economy performs.</p> <p>Let’s look at Detroit in the US as an example. The city suffered greatly during the depths of the global financial crisis when the unemployment rate more than doubled and house prices fell by approximately 50 per cent. Undoubtedly there would have been a lot of people in Detroit who lost the regular income from their job and also lost tremendous amounts of money on their Detroit investment properties.</p> <p>Yes, Detroit is an extreme example and in no way are there any suggestions this could happen in Australia on the same scale but it does show the real danger of potential investment concentration risk.</p> <p>Even if you decide only to invest in a handful of blue chip listed shares, you are likely to be much better diversified than buying one or two investment properties near where you live. Many large listed companies usually have operations across Australia (or even globally) with multiple revenue streams and provide a much better diversified investment compared to a concentrated investment property portfolio.</p> <p>For all the reasons above, investing in a diversified portfolio of shares can be less risky than buying one or two investment properties particularly during periods of price declines.</p> <p><em><strong><a href="https://www.atlastrend.com/">AtlasTrend</a></strong> is a global equities fund manager that makes it easy for anyone to invest in the world’s most thriving trends. To gain more actionable investment insights from the AtlasTrend team on profitable world trends (such as the growth of online shopping or rise of big data) and the listed international companies benefitting from these trends, click <strong><span style="text-decoration: underline;"><a href="https://www.atlastrend.com/register/?group=oversixty" target="_blank">here</a></span> </strong>to sign up.</em></p> <p><em>Any advice contained in this communication is general advice only. None of the information provided is, or should be considered to be, personal financial advice.</em></p> <p><strong>Related links:</strong></p> <p><a href="http://www.oversixty.com.au/finance/money-banking/2016/09/technology-shares-are-on-the-up-and-up/"><em><strong><span style="text-decoration: underline;">Technology shares are on the up and up</span></strong></em></a></p> <p><a href="http://www.oversixty.com.au/finance/money-banking/2016/09/how-to-cancel-your-credit-card/"><em><strong><span style="text-decoration: underline;">Best way to cancel your credit card</span></strong></em></a></p> <p><a href="http://www.oversixty.com.au/finance/money-banking/2016/08/5-ways-to-protect-yourself-from-atm-fraud/"><em><strong><span style="text-decoration: underline;">5 ways to protect yourself from ATM fraud</span></strong></em></a></p>

Money & Banking

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The costs involved with residential aged care

<p>When a family member has to move into residential aged care, the knee-jerk reaction can be to sell the family home.</p> <p>But in fact, this doesn’t always have to be the only option. There is also the possibility of renting out the family home, and using the rental income to pay for the aged care accommodation.</p> <p>The best scenario for the individual will depend on their assets, as this affects how much they have to pay for their care.</p> <p>If the individual has assets over $157,987 they can be asked to pay a refundable lump sum deposit for their accommodation. This can be anywhere between $200,000 and $1 million. In some cases it can be an equivalent daily accommodation payment, or it may even be a combination of the two options.</p> <p>A resident at any aged care facility will pay a daily fee for care, and then might also be required to pay a further fee for care and extra services depending on their assets.</p> <p>The charges depend on the assets that the individual has (besides the family home). This could be shares, savings, or investment properties. </p> <p>Once a care home has been chosen and the paperwork signed, the individual has 28 days to decide how to pay for their accommodation. </p> <p>If they decide to choose the refundable accommodation deposit (RAD) there will be six months to pay, with interest added to the sum from the first day.</p> <p>Each facility is expected to publish their RAD on the <span style="text-decoration: underline;"><em><strong><a href="http://myagedcare.gov.au/" target="_blank">myagedcare.gov.au</a></strong></em></span> website. The RAD can be thought of as the value of the room that the occupant is living in.</p> <p>The resident can choose to pay the RAD in total, or pay off the amount with the interest rate (currently 6.22 per cent) which is set by the government. </p> <p>As the interest rate is high, it may be worth considering paying the RAD in total if possible. As well as being refundable, it can also work in your favour when it comes time for Centrelink to decide how much aged pension the resident has access to.</p> <p>In terms of the basic daily fee, the amount is charged at 85 per cent of the single age pension. Currently this is $47.86 per day, leaving only a small amount of available cash for other costs. This is payable by everyone. </p> <p>The other means tested fee for care depends on the financial situation of the resident. At most it can be $211.40 per day, capped at $25,731 per year.</p> <p>The extra fees can vary and include ongoing or ad hoc charges such as pay TV or hairdressing services.</p> <p><strong>Related links:</strong></p> <p><span style="text-decoration: underline;"><strong><em><a href="/finance/retirement-income/2016/01/a-third-of-women-are-retiring-in-poverty/">A third of Aussie women are retiring in poverty</a></em></strong></span></p> <p><span style="text-decoration: underline;"><strong><em><a href="/finance/retirement-income/2016/01/10-exciting-retirement-adventures/">10 exciting retirement adventure ideas</a></em></strong></span></p> <p><span style="text-decoration: underline;"><strong><em><a href="/finance/retirement-income/2016/01/should-you-withdraw-all-of-your-super-at-once/">Is it a bad idea to withdraw all of your super at once?</a></em></strong></span></p>

Retirement Income

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