"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 $$$.

Tuesday 3 July 2018

Friends Of Kellock Lodge

Residents of Alexandra north of Melbourne are fighting back against the takeover of their Anglican aged care facility by Bishop John Parkes (Diocese of Wangaratta).

A Facebook page has been opened to allow residents and interested parties to express their view of what is happening and provide suggestions for a defensive action against the Bishop (Diocese).

Concern has been expressed at public meetings in Alexandra that the move of the Bishop (Diocese) has more to do with rescuing a seemingly financially troubled Anglican aged care facility in Wangaratta.

The Friends of Kellock Lodge page can be found at this link - https://www.facebook.com/groups/176887356502474





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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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