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  • Writer's pictureBill Savellis

When To Start The Aged Care Conversation?

Father and son talking

No one likes to talk about getting old. But at what age should you start thinking about your aged care needs? The answer is simple - any age is a good time, regardless of whether you are in your early retirement years or well into retirement.

The signs of ageing may be distressing and worrying for many people, but they are a natural part of life, especially with our increasing longevity.

An effective plan for growing old will consider strategies to ensure the home environment and care supports are appropriate and how to fund quality levels of care.

If you are lucky enough to have your parents still, it is also sensible to start the conversation while they are still healthy. They might not be thrilled that you’re raising the subject, but it allows your parents to think about what is important to them and give you some instructions, so you have something to guide you if you need to make choices for them in the future.

Unfortunately, it is very common to:

  1. Leave it too late to have the conversation - once Mum or Dad can’t return home from the hospital, you’re in crisis mode. This is not the best time to be making life-changing decisions for anyone.

  2. Thinking it will never happen - unfortunately, the statistics say otherwise. On average, we can expect to live 17-25% of our retirement with a profound disability that may threaten our ability to live independently without care support. With those odds, you at least want to have a quality conversation about the options for aged care and, importantly, how you would pay for it.

While this may sound grim, it is not all bad. Having a plan can set you up to have choices and more control to maintain as much independence as possible.

A plan gives you time to consider your preferred choices and be prepared. This may allow you to:

  • Ensure your home is modified and ready to continue living there

  • Have your support teams in place

  • Take away some of the stress and uncertainty from your family

  • And most importantly, have the finances ready to pay for the support you need to ensure not only quality of care but also the quality of lifestyle.

How to find some help

Making an informed decision about aged care is incredibly important. Aged care financial advice is a specialist area. The rules constantly change, as do the available strategies.

We can also walk you through adding contingency measures and decision pathways into your plan, so you are prepared if something doesn’t quite work out as planned.

How do you get started?

We recommend that you don’t do it alone. We are Accredited Aged Care Professionals and believe in helping clients throughout retirement and being prepared for the changes needed at life’s transition points so that these changes can be implemented smoothly and effectively.

Contact us today to make an appointment to discuss your current or future aged care needs.

Headshot of Bill Savellis

Bill Savellis

Senior Financial Adviser

Having navigated the Aged Care landscape for both of his parents, Bill understands how challenging it can be to make the right decisions for your future care needs. That's why he believes that everyone should have access to financial advice during this time. Bill has been a Financial Adviser for over 22 years, and is passionate about helping others access the financial advice they need. Drawing from his own experience in the financial sector, Bill develops strategic, personalised plans to support transitions to Aged Care or Home Care.


Disclaimer: Prepared without taking into account your objectives, financial situation or needs. Before acting on any information in this article, Olive Grove Financial Advice recommends that you consider whether it is appropriate for your circumstances. Information in this article was correct and current as of 22 February 2022. Olive Grove Financial Advice is operated by Bill Savellis through The Financial Advisor (Australia) Pty Ltd ABN 72 619 546 431, who is a Corporate Authorised Representative (No. 1278394) of Havana Financial Services Pty Ltd.


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