Midlife Money Matters Ingrid Thompson and Jacqui Irwin

When Jacqui and Ingrid were planning this series Midlife Money Matters, we knew we wanted to keep it simple and cover the basics as much as we could
Jacqui realised that there is NO podcast for older women in Australia and we set out to fix that!!
We are really pleased with your response to this series of money episodes and we thank you for all your emails and your reviews
In this the final episode for this series we revisit some of the key topics we have covered
Paying attention to your Superannuation is critical - start with episode 4
Estate planning - 70% of women in Australia do not have effective estate planning instructions in place - check episodes 14 and 16
Knowing how much income you need every year to live on is extremely important - and best not to guess this amount. Episode 3 helps you calculate the amount you are spending each year
We have thoroughly enjoyed putting these episodes together and we truly believe that this information will make a difference and will continue helping women make informed decisions about money in their lives as they plan for and think about retirement.
Oh, and we have heard that some men are finding the information very helpful as well 
 
We'll be checking those emails so if you have any questions please email us at midlifemoneyquestions@gmail.com
 
And we would love if you would please leave us a review wherever you listen to your podcasts 
Financial Disclaimer:
We need to make it super clear though that we will NOT be providing personal financial advice to listeners, but just providing general advice on these topics based on our knowledge and experience. 
 

You have probably heard these terms and maybe wondered ... what do they actually mean? and why would I get one?
Powers of Attorney
Enduring Guardianship  
Binding Death Nominations 
In this episode - less than 15 minutes - we cover the basics of these 3 important aspects of effective Estate Planning
Who would you appoint?
What would they making decisions about?
and the all important - what happens if something happens and you don't have these instructions in place ??
We don't specifically talk about Wills in this episode - we covered Wills in Episode 14
If you have any questions please email us at midlifemoneyquestions@gmail.com
And we would love if you would please leave us a review wherever you listen to your podcasts 
Financial Disclaimer:
We need to make it super clear though that we will NOT be providing personal financial advice to listeners, but just providing general advice on these topics based on our knowledge and experience. 
 

Part 3 of our series about Retirement Living options
What are the Issues and Costs of a Move into an Age Care Facility
We understand and acknowledge this is or can be an emotional topic. Both Jacqui and Ingrid have been through this with their parents - so we understand completely
You may have read and heard about residential age care in the media.
Most people are quite resistant to going into care.
However there are a lot of really good age care homes in Australia with very caring dedicated staff.
If people are on their own at home and not managing they are often not getting the correct medical care, likely not eating properly or maybe not looking after themselves as well as they had been when they were younger.
Older people are also very susceptible to having a fall or a medical event and no one being notified to get them help.
We talk about: How do you find a suitable age care facility?
and
What are the fees involved? Jacqui explains:
There are 3 different fees payable, sometimes 4 as some facilities have an extra services fee for things like wine with dinner, better meals, streaming services etc.
In this episode we give an overview of the 3 main fees and how they are calculated
This is an important episode if you are in a situation where you have a loved one who is reaching the stage of considering Aged Care. 
We understand and acknowledge this is an emotional topic. Both Jacqui and Ingrid have been through this with their parents 
Access My Aged Care - click here
 
Financial Disclaimer:
We need to make it super clear though that we will NOT be providing personal financial advice to listeners, but just providing general advice on these topics based on our knowledge and experience. 
 

Estate Planning is more than just having a will 
We answer some of the following questions about Estate Planning
Why is Estate Planning important ?? and there are many reasons why Estate Planning is important 
Almost 70% of women in Australia do not have their Estate Planning in place
What is a Will?
What needs to be included in your Will?
What motivates people to make their Will?
Did you know that 14% of people say "There is nothing that would encourage me to make a Will!"
We talk through what happens if you do not have a Will in place - the impact it has for the family to manage and deal with the assets of the deceased.
The courts will make the decisions about the assets and this can be time consuming - which can be avoided by having a legally documented Will
An important consideration - and probably one that most people don't want to have to think about - is what happens to your children if you die while they are still under legal age
This also applies to any vulnerable dependants that you may have
We love reviews and would appreciate if you were to leave a review and share this episode with friends and family
If you have any questions or suggestions please email us at:
midlifemoneyquestions@gmail.com
 Financial Disclaimer
We need to make it clear that we do NOT provide specific financial advice on this show, it is just general advice and discussion. If you want advice specific to your situation you need to go and see a financial adviser or financial professional.

When it comes to Retirement living many people like the idea of downsizing from the family home and moving into a Retirement Village
In this episode we talk about some of the key factors to consider when assessing a Retirement Village as a retirement option
A few key points from this episode:
It is essential to fully understand all the fees and charges involved. There are entry fees and exit fees as well as monthly charges.
Buying into a Retirement Village is not the same as regular property investment. You don't ever own the property, you buy the right to live in that property - and that includes using the facilities, you're buying into the community and the access to the activities. People value the safety aspects of being in a Retirement Village. 
Retirement Village contracts are not like any other property contract - so you need specialised legal advise AND from a professional who is familiar with that specific state in Australia 
Assess the financial viability of the Village operator as a whole and any future development plans they may have. Ask for copies of their Annual Report
A few questions we suggest it is important to consider:
What happens if you are in a Retirement Village as a couple and one partner needs to move to Aged Care due to health conditions?
How do you pay for this next stage of living?
If you are in Retirement Village as a single person and then need to move to Aged Care, how do you pay for that while you wait for the Retirement Village operator to sell your existing property?
This is a information dense episode and we have kept it deliberately short and covering the basic information to get you started thinking about Is Retirement Village the right option for you?
 
As always we encourage you to please email any questions or comments to midlifemoneyquestions@gmail.com
If you are enjoying the show please share with another woman who might find it helpful and leave us a review wherever you listen to your podcasts
Financial Disclaimer:
We need to make it super clear though that we will NOT be providing personal financial advice to listeners, but just providing general advice on these topics based on our knowledge and experience. 
 

This is the first of a series: Retirement Living 
This episode is: Accessing Care at Home
This episode is recorded and contains accurate information as at August 2023
"I want to stay in my own home as long as possible"
We know this to be true for so many people. Yep! Including us!!
In this episode we look at ways you CAN stay in your own home for a long as possible
What are the steps to take to ensure this is possible and where and how to access support and assistance with the daily tasks in your home  
Many people start out with a lower level of support, say community-based services such as meals on wheels which is often sufficient initially. This is accessed through  Commonwealth Home Support Programme. 
A greater level of support at home is available through access to a Home Care Package.
You can find out about these services on the government's age care portal ‘My Aged Care at www.myagedcare.gov.au or by calling 1800 200 422.
The key takeouts from this episode are:
·         Start thinking about where you want to live earlier rather than later
·         Make sure your home is suitable and safe as you age with low maintenance and access to services and social activities
·         Don’t wait to get an ACAT assessment, get a package in place and start to build up a relationship with a good home care provider (make sure they are an Approved Aged Care Provider so you can slowly increase services as you age
·         Get respite care added to your assessment for possible future use
·         The cost of these services is very reasonable and you can top up your package with privately paid care if needed
 
As always we encourage you to please email any questions or comments to midlifemoneyquestions@gmail.com
If you are enjoying the show please share with another woman who might find it helpful and leave us a review wherever you listen to your podcasts
Financial Disclaimer:
We need to make it super clear though that we will NOT be providing personal financial advice to listeners, but just providing general advice on these topics based on our knowledge and experience.