Compare Communities - Australia’s First Choice, when comparing Retirement Villages. Compare, select and save up to $15k in your next move in life. 1300 190 547
Compare Communities - Australia’s First Choice, when comparing Retirement Villages. Compare, select and save up to $15k in your next move in life. 1300 190 547
on the Thursday, September 3, 2015
The stories of people moving to a retirement community and then suffering buyer regret years later when they, or their estate, realise what they get back were showcased again on ABC's 7.30 earlier this week. The interviewees said that they knew about the deferred management fee of 1% per quarter but only realised what that meant in terms of the cost when it came time to sell. It’s an all too common story.
Such stories also contribute to the other type of buyer regret, that they didn’t make the move sooner.
Both Noel Whittaker and Rachel Lane, authors of The Retirement Living Handbook, heard the stories of both kinds for years.
Rachel says “The biggest problem with both types of regret is that it is too late to do anything about it, you can’t wind back the clock and move into the village sooner and if you are at the point of leaving the village it is too late to negotiate a different financial arrangement."
Noel adds “What they needed was someone to help identify the village or villages that would meet their lifestyle needs and explain the legal and financial aspects to them well before they chose a village."
Off the back of their successful book Aged Care, Who Cares?, finance gurus Rachel Lane and Noel Whittaker have penned The Retirement Living Handbook.
The book is aimed at people considering making the move to a retirement community or as they like to refer to them “the tree change, sea change and downsize seekers of Australia” with a view to preventing both types of regret.
The book covers all of the important aspects of moving to a retirement community: from selling your home to finding the retirement community that’s right for you, the different forms of legal contract and financial arrangements and the impacts on pension entitlement and eligibility for rent assistance.
To put all of the concepts into a real life context, the authors provide more than a dozen case studies from Australian retirement communities.
At the back of the book is a directory of over 1,000 retirement communities broken down by lifestyle with a lexicon of key features to help readers identify the retirement communities that may best suit them.
Click here to order your copy of The Retirement Living Handbook.
About the Authors
Rachel Lane
Rachel is the Principal of Aged Care Gurus and Village Gurus, where she oversees a national network of financial advisers dedicated to providing quality advice to senior Australians and their families. Rachel has been working in financial services for 17 years and specialising in retirement and aged care for more than a decade. Rachel holds a Masters in Financial Planning.
Noel Whittaker
Noel is one of Australia’s most respected financial advisers and best-selling authors. He is a pioneer in the field of consumer education and is the author of more than 20 books including the international best seller Making Money Made Simple. He writes weekly columns in many major Australian newspapers and makes regular appearances on radio and television.
