Tuesday, 5 June 2018

Family Home or Retirement Village

A big decision for Australian retirees. Federal governments are increasingly encouraging retirees to stay longer in their place of residence which may not necessarily be the original family home.

Contradictory encouragement comes with incentives for older retirees to sell the family home and downsize into a unit, flat or into some form of retirement community living.

In the example below the table examines the potential financial impact on a retiree between retaining the family home or moving into a retirement village.

It must be noted that such a move can be a complex decision and requires sound, independent, professional advice whenever possible, it can be more than just a dollars and cents decision.

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