"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 22 July 2019

Raise The Newstart Rate Campaign


FCA supporting the Raise The Newstart Rate campaign.

Financial Counselling Australia is the peak body for financial counsellors in Australia.

FCA is the national voice for the financial counselling profession in Australia. It is a not-for-profit organisation that:
  • Provides resources and support for financial counsellors;
  • Advocates for a fairer marketplace;
  • Works to raise the profile of financial counsellors;
  • Advocates to increase access to financial counselling; and
  • Works to improve hardship processes for people in financial difficulty.


FCA_Raise the Rate from Financial Counselling Australia on Vimeo.

Financial Counselling Australia can be contacted through this web site - https://www.financialcounsellingaustralia.org.au/

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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.


retvill.net

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