It seems that every day there’s some new horror story arising from aged care. It makes sense to start thinking about avoiding residential aged care while you’re young.
Alexandria Blaelock, author of Holistic Personal Finance: How to pay for the life you want says “These days we’re living longer, and getting busier; there’s no time to look after ourselves let alone our parents. Like all future planning, avoiding residential aged care needs a long lead-time.”
Here are Blaelock’s tips for avoiding residential aged care:
- Take care of your health: The better your health, the longer you can maintain your independence. And avoid the need to rely on others for support. Eat well, exercise regularly, and get plenty of sleep.
- Get regular health checks: You can’t entirely rely on a healthy lifestyle for longevity. Get regular dental and health checks to stay on top of early risk factors for your heart, lungs and cancer. Not to mention diabetes and arthritis.
- Monitor advances in medical care: There are people alive today who would have died fifty years ago; patients on dialysis, heart bypass surgery and transplant recipients to name a few. Knowing your health risks, you can stay informed about potential treatment options. When the time comes, you can assess the risks calmly, and make informed decisions.
- Monitor changes in government policy: Governments control, and in some countries, subsidise the cost of aged care services. As governments change, so do the policies. Stay informed, and vote according to policy changes that will impact you. Lobby the government, and get involved in the consultation process.
- Plan for the worst: The ideal scenario is to die young, of natural causes. But it’s more likely you’ll die in some kind residential care facility. Investigate relevant insurances to help with cost and care, as well as tools such as trusts to protect your assets.
Alexandria’s tips for avoiding residential aged care will help you think calmly and rationally about your future. And make better plans for your long-term care.
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