Midlife Money Matters

Ingrid Thompson and Jacqui Irwin
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We know that women are highly motivated to build their financial understanding and achieve financial autonomy and independence In this podcast we talk about money and especially for women in midlife and beyond We'll explore various options available for women at different stages of life as they consider and prepare for the end of their working career, to transition into retirement and manage their later life care We keep it simple We keep it honest We are keen to help Australian women better understand how to manage their money, and their financial matters We are keen to encourage women to plan and navigate their financial needs as they move into for the second half of their lives Ultimately our goal is to demystify the language and complexity associated with money Our goal is to improve the financial experience for women Disclaimer: This is not financial advice. It is information based on our many years of working in money and finance You can contact us on moneymattersquestions@gmail.com

  1. 09/29/2023

    E17 The end of this Series - Thanks for being with us

    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.

    10 min

  2. 09/22/2023

    E16 Estate Planning Part 2: Powers of Attorney, Enduring Guardianship and Binding Death Nominations

    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.

    14 min

  3. 09/15/2023

    E15 Issues and Costs of a Move into an Age Care Facility

    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.

    15 min

  4. 09/08/2023

    E14 Estate Planning - Part 1: Things to know about Wills

    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.

    13 min

  5. 09/01/2023

    E13 Retirement Living - Part 2 - Is a Retirement Village right for me?

    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.

    12 min

  6. 08/25/2023

    E12 Retirement Living – Part 1 - Accessing Care at Home

    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.

    15 min

  7. 08/18/2023

    E11 What is retirement? What will your retirement look like?

    Midlife Money Matters is a podcast about money in retirement and helping you figure out how much money you need to live your best life when you finish working. So, today's topic is important One of the important considerations is how are you going to spend your time? how will you keep your mind active? Who will be the people you spend time with? In this episode we don't define retirement, what we offer is a variety of questions to consider and topics for discussion for you and your partner, as well as other members of your family Your retirement will certainly impact different members of your family in ways they may not expect 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.

    12 min

  8. 08/11/2023

    E10 Bank of Mum and Dad - some matters to consider

    The Bank of Mum and Dad is a hot topic right now as we record this episode - July 2023 We know the media is talking a lot about this topic. We have received a number of emails with questions from parents who are considering helping their kids, and in some cases their grandkids, financially  In this episode we offer some questions for your consideration We also offer some possible and potential scenarios to consider as you and your family discuss and decide about the financial arrangements between the generations Jacqui and Ingrid created Midlife Money Matters podcast to help Australian women understand what it takes to have a comfortable and financially secure retirement. This is an important topic as affects later life financial security If you have any questions or comments please email midlifemoneyquestions@gmail.com 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.

    10 min
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About

We know that women are highly motivated to build their financial understanding and achieve financial autonomy and independence In this podcast we talk about money and especially for women in midlife and beyond We'll explore various options available for women at different stages of life as they consider and prepare for the end of their working career, to transition into retirement and manage their later life care We keep it simple We keep it honest We are keen to help Australian women better understand how to manage their money, and their financial matters We are keen to encourage women to plan and navigate their financial needs as they move into for the second half of their lives Ultimately our goal is to demystify the language and complexity associated with money Our goal is to improve the financial experience for women Disclaimer: This is not financial advice. It is information based on our many years of working in money and finance You can contact us on moneymattersquestions@gmail.com

Information

  • Creator
    Ingrid Thompson and Jacqui Irwin
  • Years Active
    2K
  • Episodes
    18
  • Rating
    Clean
  • Copyright
    © 2023
  • Show Website
    Midlife Money Matters