FINDING out about the options for pensioners and retirees can be difficult, and being either a self-funded retiree or pensioner doesn’t mean you have to live life less.
It can be hard to decide whether to stay in the family home, or unlock some of the equity.
There is a free seminar on Thursday 10 August from 10am to 12 noon at Nelson Bay Golf Club.
The guest speaker is author, finance expert and government advisor Rachel Lane who will share tips and vital information for people considering downsizing, to unlock some of the equity which they hold in the family home.
Martin Checketts, partner at Mills Oakley law firm will advise on the legal implications of the contracts that you sign up for with retirement villages and aged care providers.
The seminar features different ownership models that you can choose from and how your decisions will impact your pension.
Author Rachel Lane told News Of The Area, “Now is an opportune time for seniors to re-evaluate their finances and think about what lifestyle changes could better prepare them for the future.”
“The benefits of the seminar will inform downsizers on how they can access some equity and increase their cash reserves; we will cover what the new pension asset tests are and how they may affect your entitlements.”
“We’ll also look at the innovative new lifestyle-focused seniors living model, called land lease communities, where you own the home and lease the land, offering a number of financial benefits. And we will be looking at how the land lease ownership model compares with the traditional retirement village option.”
Those who attend the seminar will be armed with up-to-date information and can also enjoy a High Tea in the new Nelson Bay Golf Club.
By Marian SAMPSON