"Living in a retirement village has the capacity to be a great lifestyle decision, sadly it also has the capacity to be your very worst financial decision." - RETVILLDOTNET.
An example for a village with the Deferred Management Fee calculated on the ingoing $$$.
"My father must have been one of the few people who lost money when he sold his home in a booming Melbourne property market. This huge loss on his home, in a popular suburb not far from the CBD, was despite it selling for more than he paid for it. The problem? He bought into a retirement village." - Diana Thorp. Sunday Herald Sun. 22/08/21
An example for a village with the Deferred Management Fee calculated on the outgoing $$$.

Monday 2 April 2018

It's a Horror Story say Carers

The Sydney Morning Herald reports -

"Natalie Vernon was trying to enjoy a holiday in Tasmania last October when she received a call from her distressed daughter, informing her Mrs Vernon’s son was threatening to kill himself.
Liam*, aged 28, has autism, developmental delay, schizophrenia and post-traumatic stress disorder, and lives full-time in disability-supported group accommodation.
His care is managed by LiveBetter Community Services, formerly CareWest, which is the largest National Disability Income Scheme (NDIS) provider in rural NSW.
Mrs Vernon was horrified when, during panicked calls to Liam’s carers that continued throughout the evening, it became clear the staff looking after him didn’t know how to respond.
“They didn’t know what to do ... I said give him a valium. PRN him,” she said, describing a medical treatment administered on a needs basis. “If it doesn’t work, he needs to be admitted. If you can’t manage him, you must take him to hospital."

Read the full story here - 'It's a horror story': Carers, family speak out on NDIS regional care

It's a Horror Story say Carers

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Function of Government

The role of government is to create an environment for commerce to function whilst at the same time protecting retirees and particularly vulnerable retirees from both financial and emotional harm emanating from that function.

The Victorian Retirement Villages Act 1986 provides the environment for commerce to function but fails to fully protect retirees from financial and emotional harm as a result of it.

The Victorian legislative definition of a retirement village in demanding the payment of an 'in-going' amount without the transfer of property ownership is a major contributor to that financial and emotional harm suffered by retirees.


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