@@ritageorge2348, the video was posted by Stockland Residential Communities, not Current Affair. Looks like they're trying to raise awareness and spruik themselves as a good option.
I cared for my wife in the disabled home we built. She has now passed. I plan to just stay here. Everything I may need in future is right here. I get all the capital gain.
Retirement living is getting harder to afford these days, especially with inflation eating into savings. Even if you have a decent nest egg, balancing day-to-day living expenses with long-term growth feels like walking a tightrope.
Absolutely. One of the biggest mistakes people make is underestimating healthcare costs or failing to diversify their portfolio for steady income. I’ve seen retirees run out of money because they relied too heavily on just one source of income, like Social Security or their 401(k).
This is why it’s so important to work with someone who understands both short-term and long-term strategies. My CFA, Joseph Nick Cahill, has helped me optimize my portfolio while planning for unexpected costs. He offers free consultations, so there’s no risk in reaching out to him if you’re feeling uncertain about your financial plan.
Thanks for the tip! A big issue I’ve been struggling with is keeping up with rising living expenses without depleting my retirement savings too quickly. It’s hard to find the right balance between enjoying life and making my money last
That’s one area where Joseph Nick Cahill has been invaluable for me. He’s shown me how to manage withdrawals to minimize taxes and grow my portfolio even in retirement. His experience has made a huge difference, and it’s why I recommend him to anyone serious about securing their future.
Retirement villages have always been a huge ripoff the government needs to step in and do something about the way they charge the elderly and the contractor should be changed to stop ripping of the elderly. This isn’t the only business that is ripping people of there are lots of them because the government lets them charge and get away ridiculous fee amounts. Everything in our life needs to be looked at and changed and have set fees for everything this is the problem with everything in our life’s and where it starts and doesn’t stop. How can you pay someone $20 an hour for there work and charge another $300 an hour for there work and so on it’s so wrong so e sort of regulated hourly rate should be changed for every for survival and living without stress and fear. This government has a lot to answer for. The whole set up is disgraceful.
It needs government intervention to research this properly and bring these people to heel. They are obviously. Taking completed advantage of these elderly people it's disgraceful.
It's a joke which needs to be exposed. It's misleading, despicable, just theft. It maybe legal and all covered in the contract. But unethical, unfair to say the least.
too many stories of people being very badly ripped-off when they try to sell their retirement unit - thus the recent story that gov is changing to provide more support for aging-in-place home support services. Having studied contracts I'm confident the contracts on entry to retirement homes sound very reasonable with mention of fees being vagues so as to not discourage buyers, but once you want to sell, suddenly huge fees and delays and enormous costs kill your resale price. Thus my plan to NEVER buy into a retirement village.
I feel really sad for people who signed these contracts without understanding what they were signing. Get legal advice, look at all the options and do the maths!
My mother was badly ripped off when she got out of her retirement village. They hoed into her with huge fees and charges, and she was stuck there until she bit the bullet and lost a small fortune. When she was there, she could not even touch the garden. Do not touch a retirement village without reading the fine print. Buy an apartment instead.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second daughter. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks.
@YvonneFranken Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY*
if you are an elderly person, but still independent and want to downsize a good idea may be to sell the large home and buy a smaller home. then sign up to myaged care and talk to an aged care provider and get on a home care package. what this means is that you will be able to access discounted services such as cleaning, cooking, transport and in some cases alterations to the home to make it safer and more accessible for you but also keep you independent and in your own home. And at the end of the day when you decide to sell, or your family does they will keep the money instead of the ridiculous exit fees communities charge. And PLEASE PLEASE PLEASE if you so decide to move into a lifestyle village take the document to a lawyer and get them to comb through it for you and outline all the fees should you choose to sell, and also ongoing fees like strata etc. it can often be even more expensive than when you lived in your own home debt free.
The rip-off retirement your exit fees35 percent and admin and renovation plus repairing during the time of living so is like 60 percent or more is gone from your purchase price. If you are still active go to Thailand and come back to Australia regularly, If you have your house appreciating, you have your pension, you have your medical coverage. Don't go to the Triement Village is a rip-off of Australian Monsters, also get close to your children and grandchildren all the time, If you are elderly people may come to SCAME you from everywhere. Australia was not like 30 years ago when Aussie people were much more honest, Scamers from phone internet, handymen, insurance agents, wealth managers, and banks.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
Problem with retirement villages that dont have exit fees or capital gain fees is that the house is a leasehold. You dont own the property. If the management sell the village, and the new management decided to redevelop the place, you will be kickout.
Incorrect, in a lifestyle community the house is not leasehold but the land is. When you buy the house, you own it. There are no entry or exit fees and you don't pay stamp duty. When you sell the house, you retain the capital gain on your house. They also can't sell the land from under you. That is the big difference between this and a retirement village.
Please PLEASE- even if you are self funded, if you need help at home call a government approved home care provider. Even if you are means tested. Stay in your own home and go through My Aged Care do not seek these BS lifestyle communities or retirement villages. Home care providers if you are self funded are expensive yes (expect to pay 1k a month maximum depending on your financials) but in these cases at the very least you have the royal commission on your side!
Why not go to cheap countries to travel like Thailand, keep your house keep your pension keep your Medicare in Australia, If not active hire a person from your children. The retirement village is some to your house, nothing more.
No need for your remark. I live in a village and am supremely happy after 18 years. i have safety, wonderful neighbours and every facility wanted. I assure you I ain't no dummy . My home is mine, no exit fees for this one.
I’m staying in my home - cheaper to hire people to help with mowing, gardening etc, why sell & move into a dog box?
Same!
No such thing as 'people to help with mowing, gardening etc' where we live (out of metro area)
PLEASE do a show on where the decent ones are like the ones shown at the end.
@@ritageorge2348, the video was posted by Stockland Residential Communities, not Current Affair. Looks like they're trying to raise awareness and spruik themselves as a good option.
Same here.
I cared for my wife in the disabled home we built. She has now passed. I plan to just stay here. Everything I may need in future is right here. I get all the capital gain.
Sorry to hear that Ron. God bless you.
Retirement living is getting harder to afford these days, especially with inflation eating into savings. Even if you have a decent nest egg, balancing day-to-day living expenses with long-term growth feels like walking a tightrope.
Absolutely. One of the biggest mistakes people make is underestimating healthcare costs or failing to diversify their portfolio for steady income. I’ve seen retirees run out of money because they relied too heavily on just one source of income, like Social Security or their 401(k).
This is why it’s so important to work with someone who understands both short-term and long-term strategies. My CFA, Joseph Nick Cahill, has helped me optimize my portfolio while planning for unexpected costs. He offers free consultations, so there’s no risk in reaching out to him if you’re feeling uncertain about your financial plan.
Thanks for the tip! A big issue I’ve been struggling with is keeping up with rising living expenses without depleting my retirement savings too quickly. It’s hard to find the right balance between enjoying life and making my money last
That’s one area where Joseph Nick Cahill has been invaluable for me. He’s shown me how to manage withdrawals to minimize taxes and grow my portfolio even in retirement. His experience has made a huge difference, and it’s why I recommend him to anyone serious about securing their future.
I just found him on the web. I am impressed. I also scheduled with him too.
His consulting page ranked top
Retirement villages have always been a huge ripoff the government needs to step in and do something about the way they charge the elderly and the contractor should be changed to stop ripping of the elderly. This isn’t the only business that is ripping people of there are lots of them because the government lets them charge and get away ridiculous fee amounts. Everything in our life needs to be looked at and changed and have set fees for everything this is the problem with everything in our life’s and where it starts and doesn’t stop. How can you pay someone $20 an hour for there work and charge another $300 an hour for there work and so on it’s so wrong so e sort of regulated hourly rate should be changed for every for survival and living without stress and fear. This government has a lot to answer for. The whole set up is disgraceful.
It needs government intervention to research this properly and bring these people to heel. They are obviously. Taking completed advantage of these elderly people it's disgraceful.
See a lawyer or an accoutant, or both. God does not love you. Look after your own self. If you cannot, you will fare badly.
It's a joke which needs to be exposed. It's misleading, despicable, just theft. It maybe legal and all covered in the contract. But unethical, unfair to say the least.
too many stories of people being very badly ripped-off when they try to sell their retirement unit - thus the recent story that gov is changing to provide more support for aging-in-place home support services. Having studied contracts I'm confident the contracts on entry to retirement homes sound very reasonable with mention of fees being vagues so as to not discourage buyers, but once you want to sell, suddenly huge fees and delays and enormous costs kill your resale price. Thus my plan to NEVER buy into a retirement village.
I feel really sad for people who signed these contracts without understanding what they were signing. Get legal advice, look at all the options and do the maths!
My mother was badly ripped off when she got out of her retirement village. They hoed into her with huge fees and charges, and she was stuck there until she bit the bullet and lost a small fortune. When she was there, she could not even touch the garden. Do not touch a retirement village without reading the fine print. Buy an apartment instead.
Wish we had him in Adelaide😊
One of the greatest scams. Buyer beeare!!
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second daughter. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks.
@YvonneFranken Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY*
@@DeesRenos Oh please I’d love that. Thanks!
*MARGARET MOLLI ALVEY*
Lookup with her name on the webpage
if you are an elderly person, but still independent and want to downsize a good idea may be to sell the large home and buy a smaller home. then sign up to myaged care and talk to an aged care provider and get on a home care package. what this means is that you will be able to access discounted services such as cleaning, cooking, transport and in some cases alterations to the home to make it safer and more accessible for you but also keep you independent and in your own home. And at the end of the day when you decide to sell, or your family does they will keep the money instead of the ridiculous exit fees communities charge. And PLEASE PLEASE PLEASE if you so decide to move into a lifestyle village take the document to a lawyer and get them to comb through it for you and outline all the fees should you choose to sell, and also ongoing fees like strata etc. it can often be even more expensive than when you lived in your own home debt free.
The rip-off retirement your exit fees35 percent and admin and renovation plus repairing during the time of living so is like 60 percent or more is gone from your purchase price.
If you are still active go to Thailand and come back to Australia regularly, If you have your house appreciating, you have your pension, you have your medical coverage.
Don't go to the Triement Village is a rip-off of Australian Monsters, also get close to your children and grandchildren all the time, If you are elderly people may come to SCAME you from everywhere. Australia was not like 30 years ago when Aussie people were much more honest, Scamers from phone internet, handymen, insurance agents, wealth managers, and banks.
Why would anyone buy a home where you don’t own the land?
Why would anyone buy an apartment? It's just not your thing.
Well in Manly NSW, the Catholic Church owns most of the land, you buy a house with 99year lease, how dumb?
I wouldnt go to one even if I had lost my marbles
These places are like rentals on steroids.... don't buy into condos or townhouse's, they are a mess to deal with.
What about ppl who rent is There any traps theree
Never heard of an exit fee
In this Country how We treat our Elderly is nothing Short off Disgusting.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement.
@graywilliams_77. Good for you, your very much in the minority.
Beware the retirement village ripoff.
Problem with retirement villages that dont have exit fees or capital gain fees is that the house is a leasehold. You dont own the property. If the management sell the village, and the new management decided to redevelop the place, you will be kickout.
Incorrect, in a lifestyle community the house is not leasehold but the land is. When you buy the house, you own it. There are no entry or exit fees and you don't pay stamp duty. When you sell the house, you retain the capital gain on your house. They also can't sell the land from under you. That is the big difference between this and a retirement village.
@meipakyu4688 disagree, it all about the money. And not being upfront. Sales pitch.
is it a coincidence that a lot of them are owned by Solicitors.
Please PLEASE- even if you are self funded, if you need help at home call a government approved home care provider. Even if you are means tested. Stay in your own home and go through My Aged Care do not seek these BS lifestyle communities or retirement villages. Home care providers if you are self funded are expensive yes (expect to pay 1k a month maximum depending on your financials) but in these cases at the very least you have the royal commission on your side!
🎉🎉
Aveo does the same thing.
Why not go to cheap countries to travel like Thailand, keep your house keep your pension keep your Medicare in Australia, If not active hire a person from your children. The retirement village is some to your house, nothing more.
I never live in one, die in my own home
Excatually the way I think , you will lose over 40% of your buy in money
Sad
Only goons buy into retirement villages.
No need for your remark. I live in a village and am supremely happy after 18 years. i have safety, wonderful neighbours and every facility wanted. I assure you I ain't no dummy . My home is mine, no exit fees for this one.