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We are AWESOME at what we do.

  • We form an alliance with you to provide awesome financial advice.
  • We always work in your best interest.
  • We only provide financial advice in areas that we specialise in: aged care, home care packages, or retirement/lifestyle village situations.
  • We provide (to anyone in Australia for the above advice areas) both a free telephone Q&A service and a free calculation reporting service to better understand your DIY financial plans.
  • We provide financial reviews at your option and only when you want them. No lock in contracts (no on-going service requirements).

This website provides information on the 3 categories below. After reading the information, use our innovative Back of the Envelope calculators for a quick estimate on how much our advice could save you.

What would you like information on?

(choose from the below 3 options)

Aged Care

Home Care Packages

Retirement or Lifestyle Villages

Information About Aged Care

(Where a Refundable Accommodation Deposit Applies)

 

Why is this information important?

This article provides useful aged care information that includes an explanation and an example of how to use our unique Back of the Envelope calculator. The calculator is designed to help you determine if getting financial advice will be of financial benefit.

The calculator provides yearly estimates of “wealth savings” for a typical DIY scenario versus our advice scenario. The calculator uses the same information for both scenarios. The DIY results are compared with our advice results to get the yearly “wealth savings” amounts. For example, if the calculated value of your DIY scenario wealth at the end of year 1 is $400,000 and our advice scenario result is $405,000, the wealth savings estimate at the end of year 1 is $5,000. The calculator assumes that you do not want to take any investment risk in either scenario. Using the same information and level of investment risk for both scenarios means that you are comparing “apples with apples”.

There comes a time when some people need to move into aged care.

There are two types of aged care. There are advantages and disadvantages to both types.

The type that most people know about and also has the most aged care locations in Australia is aged care where the accommodation cost is publicised using the term, “Refundable Accommodation Deposit” (RAD).

The type that many people don’t know about is where the accommodation cost is publicised without using the term, RAD. Instead, the accommodation cost is explained using the term, “Entry Amount“. Alternatively, a residential unit’s price is advertised. Information on this type of aged care is explained via the above tab, “Aged Care Where a RAD Does Not Apply”

The following information is about the former type of aged care – where a RAD applies.

In Aged Care facilities where a RAD applies:

  • There is flexibility to choose between paying your accommodation amount as a (RAD), a Daily Accommodation Payment (DAP), or a combination of the two.
  • There are usually “Concessional beds” at these facilities. Concessional beds where the accommodation cost is partly or fully paid on your behalf by the government. These beds are for people who are under a financial means test threshold (income and/or assets). If under the threshold, you will pay a lower accommodation amount. In these cases, the RAD and DAP terms are replaced by Refundable Accommodation Charge (RAC) or Daily Accommodation Charge (DAC). You would have the option of paying a RAC/DAC combination. Subject to your means, you may not have to pay any accommodation cost.
  • They are usually better suited for someone with advancing dementia.
  • They may offer various extra services: Extra services are “hotel-type services”, such as better accommodation, food, and services.

The Aged Care Act 1997 is the main legislation that covers government-funded aged care. This includes funding, approval of providers, quality of care, the rights of people receiving care, and laws on diversity and discrimination.

The government’s My Aged Care department should be your first contact point. Their website has lots of helpful information.

What are accommodation costs and care fees?

Here is information on the accommodation costs. The RAD value is set and published by each aged care facility. That value depends on the facility location and the room type chosen. Many facilities have more than 1 room type. They have a different RAD value for each room type.

How much you must pay also depends on a government assessment of your income and assets. For those below a means test threshold, the government will pay part of the accommodation cost and you pay the rest. What you pay in situations like this is called a Refundable Accommodation Charge (RAC) instead of a RAD. People with very low financial means will not have to pay any accommodation cost.

Some aged care locations also charge extra service fees.

Here is information on the care fees. If you go into aged care, you will need to help with the cost of your care.

You will be asked to provide current financial information to Services Australia (Centrelink) so that an assessment can be made of the care fees you need to pay. Care fees are set by the government.

Care fees include a basic daily care fee. The basic daily care fee is set at 85% of the basic aged pension. There can also be a means-tested care fee for those who are above the means test threshold.

What are the steps to follow for getting into aged care?

While the process of someone going into aged care can be time-consuming and stressful, the actual steps are not hard to understand:

  1. Contact My Aged Care.
  2. Get an ACAT assessment (ACAS in Victoria).
  3. Find an aged care location and bed.
  4. Decide how to pay for everything.
  5. Sign a resident agreement.
  6. Move in.

With these clearly defined steps to follow, it’s no surprise that many people choose the Do It Yourself (DIY) option for the entire process. But there are good news/bad news elements to this.

The good news is that almost anyone can complete these aged care steps. The bad news is that there are critical elements which often gets put in the too hard basket – the financial elements.

People who choose to DIY move through these steps and perhaps feel that they’ve likely gotten as good a financial result as possible. Unfortunately, this is seldom the case. DIY people struggle to get a good financial result because they don’t know:

  • All of their financial options.
  • All favourable aged pension and care fee strategies.
  • The applicable legislation.

Understandably, “they don’t know what they don’t know”.

If choosing to DIY, most people focus mainly on what they will pay in care fees. They might also consider how their DIY plan will affect their pension entitlement, if applicable.

However, even more important than those is knowing a more complete financial impact – including the impact on their cash flow and especially their estimated wealth both now and in the next few years.

Ideally, a comparison should also be done between the DIY results and the results that a financial adviser would provide. To do a comparison, the DIY scenario results need to be calculated. For example, how much wealth you will have at the end of year 1, year 2, year 3, and year 4. The financial advice scenario results would also need to be obtained.

Most people would find putting together comparison information like that to be very difficult and time-consuming. Most don’t even try.

Our Back of the Envelope calculator will provide comparison information for free.

What is a Back of the Envelope calculator?

A Back of the Envelope calculator provides a calculation that gives a good estimate of whatever is being calculated but is likely to be less accurate than a more detailed calculation.

What if I’m already in aged care?

This calculator is very applicable if you are already in aged care.

One  misconception that if someone is already in aged care, it’s too late to make any financial changes. Another misconception is that it’s too late to make a meaningful difference. That is rarely true.

Importantly, financial changes do not affect the quality of care that a resident receives. The changes only cause a re-calculation of your aged pension entitlement and care fees by Services Australia. Those financial changes will almost certainly change your cash flow and wealth results.

What if I’m not yet in aged care?

The calculator is just as applicable if you are not yet in aged care.

The calculator results will depend on what you enter in our Back of the Envelope calculator. The calculator results that you will see are “wealth savings” results. The impact on any aged pension entitlement, care fees, and cash flow are also available to you as explained later in this information.

Getting this financial impact information before making aged care decisions should help you with those decisions.

An example using our Back of the Envelope calculator.

Our calculator is easy to use.

The  calculator compares the yearly wealth results of your DIY scenario with the results of our advice scenario. The calculator compares those 2 wealth results and determines a “wealth savings amount” – the difference between the 2 scenarios in each of the first 4 years.

Whilst we would maintain that almost everyone faced with aged care decisions would benefit from financial advice provided by an aged care specialist, we’ll focus here on simply the financial outcomes.

If your calculation results show wealth saving estimates that are not “significant to you”, there would be less need for you to contact us.

If your calculation results show wealth saving estimates that are “significant to you”, you should contact us to arrange more accurate calculations. At that time, we’ll also provide you with other results (aged pension entitlement, care fees, and cash flow). Those results will come from us using your specific details rather than the following assumed details that are already loaded into our calculator.

Here are the calculator’s assumed details used for both scenario’s calculations:

  • Relationship = Single
  • Investment Risk = You do not want to take any investment risks.
  • Bank wealth earning rate average = 0.30% pa
  • Future expenses = Your only future expenses are the basic daily care fees and any applicable means tested care fees. No allowance has been made for incidental expenses while in care.

To the above details, you simply need to choose 2 values from the provided choice. Your chosen values will be used for both scenario’s calculations.

  • Your intended or existing RAD.
  • How much wealth will you have left in the bank AFTER paying the RAD.

Selecting the 2 values is all you have to do!

Our calculator provides a Back of the Envelope wealth savings comparison of your DIY results with our Alliance Financial Planning (Alliance) results.

Continuing with this example, if you had selected:

  • Your intended or existing RAD = $350,000
  • How much wealth will you have left in the bank AFTER paying the RAD = $500,000

The above example’s calculated results are:

The wealth savings in Year 1 are $11,620. This is the difference between the end of Year 1 wealth values ($11,620 = $854,922 – $843,302). The upcoming tables and information will help you to better understand where these amounts came from.

As already written, if your calculation results show wealth savings amounts that are meaningful to you,  you should contact us to arrange a more accurate set of wealth savings results as well as additional calculations (aged pension entitlement, care fees, and cash flow).

Contacting us will result in a phone discussion with a certified financial planner who is an Accredited Aged Care Advice ProfessionalTM.

If that phone call ends up saving you the sort of money shown by your Back of the Envelope calculated results, wouldn’t it be worth a simple phone discussion?

What happens in the phone discussion and afterwards?

During the phone discussion, we’ll answer any general advice questions you might have and also collect information. For example, you’ll be asked whether you’re single or not, if you have other investments or incomes, what is the specific entry amount you are contemplating or have paid, etc.

Your information will enable us to provide you with more accurate as well as more extensive results in the form of a multi-page report.

The report is free and there is no obligation to then get financial advice.

Your multi-page report will be emailed to you within 24 hours and will include estimated starting care fees and your aged pension entitlement if applicable.

Your multi-page report will include calculations for your DIY scenario.

  Yr 1 Yr 2 Yr 3 Yr 4
Aged Pension Entitlement $19,549 $19,549 $19,549 $19,549
Care Fees -$30,604 -$30,470 -$30,340 -$30,213
Cash Flow -$6,698 -$6,509 -$6,325 -$6,146
Wealth Value $843,302 $836,794 $830,469 $824,323

As stated earlier, most people have little or no way of doing valuable calculations like these. These calculations should be of benefit whether you ultimately get financial advice from us or not.

Your multi-page report will provide not just your DIY Scenario results but also our financial advice scenario results. This will allow you to better compare the options of DIY vs our financial advice.

Continuing with the example, the multi-page report will contain this information:

  Yr 1 Yr 2 Yr 3 Yr 4
Aged Pen. Entitlement Comparison        
Aged Pen. Entitlement – DIY Scenario $19,549 $19,549 $19,549 $19,549
Aged Pen. Entitlement – Alliance Scenario $25,155 $25,155 $25,155 $25,155
Difference $5,606 $5,606 $5,606 $5,606
Care Fee Comparison        
Care Fee – DIY Scenario -$30,604 -$30,470 -$30,340 -$30,213
Care Fee – Alliance Scenario -$29,830 -$29,998 -$30,164 -$30,327
Difference $774 $471 $175 $114
Cash flow Comparison        
Cash Flow – DIY Scenario -$6,698 -$6,509 -$6,325 -$6,146
Cash Flow – Alliance Scenario $4,922 $4,778 $4,636 $4,496
Difference $11,620 $11,286 $10,960 $10,642
Wealth Value Comparison        
Wealth Value – DIY Scenario $843,302 $836,794 $830,469 $824,323
Wealth Value – Alliance Scenario $854,922 $859,700 $864,335 $860,831
Wealth Savings Difference  $11,620 $22,906 $33,866 $44,508

What does all this mean?

In summary, it means that you’ll:

  • Have valuable DIY financial impact information that you can use whether you get financial advice from us or not.
  • Have peace of mind and reduced stress by having financial impact information.
  • Be able to decide whether financial advice is a good option for you.

Once you get the calculation report, we’ll make a follow up call to answer any remaining general advice questions, discuss the multi-report, and provide a financial advice fee quote. Getting a calculation report from us is free. It does not obligate you to get financial advice.

The one-off fee will be based on the work you require from us and the complexity of your situation. You can then decide whether our advice is value for money and if you should get financial advice.

It’s similar to going onto a website to explore purchasing something. You can gather information but are not obligated to purchase anything. It’s the same for people who get a calculation report from us. If you don’t want financial advice, you can choose to simply go no further.

For those who become clients, we offer an optional financial advice review service. We do not commit clients to ongoing service agreements. Instead, we provide reviews if / when requested. Clients can request a review at any time. A review fee quote is provided before any work is started. and will depend on the complexity of your situation and the review work you request.

Does it matter if I live too far from your Brisbane location for meetings?

That does not have to matter as we’ve been providing financial advice for a number of years to people who live in other states. Therefore, please feel free to contact us no matter where you live.

 

GET STARTED

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Back of the Envelope

Wealth Savings Calculator

Select from the below options:
Your intended or existing RAD

How much wealth will you have left in the bank AFTER paying the RAD?

If your desired amount is not one of the choices, select the nearest choice without going over your desired amount (i.e. if your desired RAD is $400,000, choose $350,000). Making choices like this will provide a more conservative result.

You need to select an item to continue

Calculate

Here is your calculated Back of the Envelope wealth savings.
It compares your DIY scenario's results with ours.
This calculator is current as of 06/07/22
(This calculator provides general advice only).
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$3,998
$7,906
$11,724
$15,454

Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$11,620
$22,906
$33,866
$44,508
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$18,441$34,500
$48,413$60,389
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$18,616$36,657$54,134$37,600
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$23,489$46,282$64,416$85,453
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$26,046$52,909$77,515$103,324
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$30,309$60,612$90,907$121,230
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$34,752$69,520$104,306$139,143
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$3,998
$7,898$11,700$15,407
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$11,620$22,377$32,302$41,424
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$18,441$34,692
$48,391$58,213
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$18,616$36,649$52,515$68,088
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$22,173$44,981$64,125$85,420
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$25,867$51,703$77,508$103,317
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$30,309$60,612$90,907$121,230
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$34,752$69,520$104,306$139,143
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$3,998
$7,818$11,463$14,938
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$11,620$22,324$32,145$39,762
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$18,441$34,484$48,368$58,170
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$18,300$36,331$50,844$68,296
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$21,424$42,794$64,110$85,404
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$25,867$51,703$77,508$103,317
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$30,309$60,612$90,907$121,230
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$34,752$69,520$104,306$139,143

Our discussion will result in your questions being answered and a free multi-page calculation report.
The report will provide additional general information and more specific calculated results.
You will end up being more informed.
You will not be obligated to get financial advice.
You will end up being more informed.Beyond that, financial advice will be optional.
To get your free calculation report, contact us.
Call us on 07 33971806 (or 0414971806) or Book a phone discussion time slot via our calendar.

Note: The below times are for the Brisbane locality. If you are in another Australian time zone, you need to select accordingly.

You need to select an item to continue

Calculate

Final cost

The final estimated price is :

Summary

Description Information Quantity Price
Discount :
Total :

Order

Information About Aged Care

(Where a Refundable Accommodation Deposit Does Not Apply)

 

Why is this information important?

This article provides useful aged care information that includes an explanation and an example of how to use our unique Back of the Envelope calculator. The calculator is designed to help you determine if getting financial advice will be of financial benefit.

The calculator provides yearly estimates of “wealth savings” for a typical DIY scenario versus our advice scenario. The calculator uses the same information for both scenarios. The DIY results are compared with our advice results to get the yearly “wealth savings” amounts. For example, if the calculated value of your DIY scenario wealth at the end of year 1 is $400,000 and our advice scenario result is $405,000, the wealth savings estimate at the end of year 1 is $5,000. The calculator assumes that you do not want to take any investment risk in either scenario. Using the same information and level of investment risk for both scenarios means that you are comparing “apples with apples”.

There comes a time when some people need to move into aged care.

There are two types of aged care. There are advantages and disadvantages to both types.

The type that most people know about and also has the most aged care locations in Australia is aged care where the accommodation cost is publicised using the term, “Refundable Accommodation Deposit” (RAD). Information on this type of aged care is explained via the above tab, “Aged Care Where a RAD Applies”

The type that many people don’t know about is where the accommodation cost is publicised without using the term, RAD. Instead, the accommodation cost is explained using the term, “Entry Amount“.

The following information is about the second type – Aged Care facilities where a RAD does not apply.

In Aged Care facilities where a RAD does not applies:

  • You live in a multi-room home unit with a kitchenette, bathroom, laundry, living room and 1 or more bedrooms. Living in this type of facility is not as big of a “lifestyle change” as moving to where you live in a single room with an ensuite.
  • You can cook meals in your own kitchenette or choose to eat a dining room.
  • This type of aged care is probably better suited for couples that want to live together.
  • The facility likely to be small-pet friendly.

Aged Care providers that don’t charge a RAD are actually retirement villages that provide aged care services via on-site staff. This is different from retirement villages that simply allows any home care package providers to visit their residents in that village.

These Aged Care providers are governed by both retirement villages legislation and aged care legislation.

In Queensland, the retirement villages legislation includes the Retirement Villages Act 1999. The Aged Care Act 1997 is the main legislation that covers government-funded aged care.

The government’s My Aged Care department should be your first contact point. Their website has lots of helpful information.

What are accommodation costs and care fees?

Here is information on the accommodation costs. The accommodation costs are set by each aged care home. The cost will vary. It depends on the village location and unit size, and the fit-out quality.

In this type of aged care, there is a moving-in cost usually called an “entry amount”. The entry amount is like the purchase price of a home unit except that the entry amount is usually lower because you’re leasing rather than purchasing the home unit.

There will be on-going costs to maintain the buildings and surrounds – no different that if you purchased a home unit in a non-aged care complex. The aged care facility staff will provide you with documentation that explains each of the costs.

Here is information on the care fees. Aged care retirement villages use on site staff to deliver care services.  Those care services are provided using government Home Care Packages (HCP). Therefore, the care fees you pay will be based on the system of fees and the value you receive when in receipt of an HCP.

A more detailed explanation of the government and non-government fees as well as the financial values of each the 4 HCP levels are more fully explained on our HCP information page (to get there, click on our logo and select Home Care Packages).

What are the steps to follow for getting into aged care?

While the process of someone going into aged care can be time-consuming and stressful, the actual steps are not hard to understand:

  1. Contact My Aged Care.
  2. Get an ACAT assessment (ACAS in Victoria). The assessment team will lodge your HCP application.
  3. Find an aged care retirement village and select a home unit.
  4. Decide which unit lease contract you’d like if the facility provides that option.
  5. Decide how to pay for everything.
  6. Sign a resident agreement.
  7. Move in.

With these clearly defined steps to follow, it’s no surprise that many people choose the Do It Yourself (DIY) option for the entire process. But there are good news/bad news elements to this.

The good news is that almost anyone can complete these aged care steps. The bad news is that there are critical elements which often gets put in the too hard basket – the financial elements.

People who choose to DIY move through these steps and perhaps feel that they’ve likely gotten as good a financial result as possible. Unfortunately, this is seldom the case. DIY people struggle to get a good financial result because they don’t know:

  • All of their financial options.
  • All favourable care fee and aged pension strategies.
  • The applicable legislation.

Understandably, “they don’t know what they don’t know”.

If choosing to DIY, most people focus mainly on what they will pay in care fees. They might also consider how their DIY plan will affect their pension entitlement, if applicable.

However, even more important than those is knowing a more complete financial impact – including the impact on their cash flow and especially their estimated wealth both now and in the next few years.

Ideally, a comparison should also be done between the DIY results and the results that a financial adviser would provide. To do a comparison, the DIY scenario results need to be calculated. For example, how much wealth you will have at the end of year 1, year 2, year 3, and year 4. The financial advice scenario results would also need to be obtained.

Most people would find putting together comparison information like that to be very difficult and time-consuming. Most don’t even try.

Our Back of the Envelope calculator will provide comparison information for free.

What is a Back of the Envelope calculator?

A Back of the Envelope calculator provides a calculation that gives a good estimate of whatever is being calculated but is likely to be less accurate than a more detailed calculation.

What if I’m already in aged care?

This calculator is very applicable if you are already in aged care.

One misconception is that if someone is already in aged care, it’s too late to make any financial changes. Another misconception is that it’s too late to make a meaningful difference. That is rarely true.

Importantly, financial changes do not affect the quality of care that a resident receives. The changes only cause a re-calculation of your aged pension entitlement and care fees by Services Australia. Those financial changes will almost certainly change your cash flow and wealth results.

What if I’m not yet in aged care?

The calculator is just as applicable if you are not yet in aged care.

The calculator results will depend on what you enter in our Back of the Envelope calculator. The calculator results that you will see are “wealth savings” results. The impact on any aged pension entitlement, care fees, and cash flow are also available to you as explained later in this information.

Getting this financial impact information before making aged care decisions should help you with those decisions.

An example using our Back of the Envelope calculator.

Our calculator is easy to use.

The  calculator compares the yearly wealth results of your DIY scenario with the results of our advice scenario. The calculator compares those 2 wealth results and determines a “wealth savings amount” – the difference between the 2 scenarios in each of the first 4 years.

Whilst we would maintain that almost everyone faced with aged care decisions would benefit from financial advice provided by an aged care specialist, we’ll focus here on simply the financial outcomes.

If your calculation results show wealth saving estimates that are not “significant to you”, there would be less need for you to contact us.

If your calculation results show wealth saving estimates that are “significant to you”, you should contact us to arrange more accurate calculations. At that time, we’ll also provide you with other results (aged pension entitlement, care fees, and cash flow). Those results will come from us using your specific details rather than the following assumed details that are already loaded into our calculator.

Here are the calculator’s assumed details used for both scenario’s calculations:

  • Relationship = Single
  • Investment risk = You do not want to take any investment risks.
  • Bank wealth earning rate average = 0.30% pa
  • Future expenses = Your only future expenses are the basic daily care fees and any applicable means tested care fees. No allowance has been made for incidental expenses or other expenses while in care.

You simply need to choose 3 values from the provided choices. Your chosen values will be used for both scenario’s calculations.

  • Entry amount paid or payable.
  • Remaining wealth after paying the entry amount.
  • Annual total living expenses.

Selecting the 3 values is all you have to do!

Our calculator provides a Back of the Envelope wealth savings comparison of your  DIY results with our Alliance Financial Planning (Alliance) results.

If you had selected:

  • What is your entry amount paid or payable = $400,000
  • Remaining wealth after paying the entry amount = $500,000
  • Annual total living expenses = $30,000

The calculated results for this example will be:

The wealth savings in Year 1 are $11,611. This is the difference between the end of Year 1 wealth values ($11,116 = $935,859 – $942,743). The following tables and information will help you to better understand where these amounts came from.

As already written, if your calculator results show wealth savings amounts that are “meaningful to you”,  you should contact us to arrange a more accurate set of results.  as well as additional calculations (aged pension entitlement, care fees, and cash flow).

Contacting us will result in a phone discussion with a certified financial planner who is an Accredited Aged Care Advice ProfessionalTM.

If that phone call ends up saving you the sort of money shown by your Back of the Envelope calculated results, wouldn’t it be worth a simple phone discussion?

What happens in the phone discussion and afterwards?

During the phone discussion, we’ll collect information required to provide you with more accurate results. For example, you’ll be asked whether you’re single, if you have other investments or incomes, etc. Your personalised multi-page report will be sent to you within 24 hours and will contain a more detailed view of your potential wealth saving. For example:

  Yr 1 Yr 2 Yr 3 Yr 4
Aged Pension Entitlement $7,254 $9,224 $11,046 $12,732
Care Fees -$4,022 -$4,022 -$4,022 -$4,022
Cash Flow -$25,257 -$23,363 -$21,611 -$19,990
Wealth Value $924,743 $901,380 $879,769 $859,779

As stated earlier, most people have little or no way of doing valuable calculations like these. These calculations should be of benefit whether you ultimately get financial advice from us or not.

Your multi-page report will provide not just your DIY Scenario results but also our financial advice scenario results. This will allow you to better compare the options of DIY vs our financial advice.

Continuing with the example, the multi-page report will contain this information:

  Yr 1 Yr 2 Yr 3 Yr 4
Aged Pen. Entitlement Comparison        
Aged Pen. Entitlement – DIY Scenario $7,254 $9,224 $11,046 $12,732
Aged Pen. Entitlement – Alliance Scenario $10,274 $11,102 $11,872 $12,586
Difference $3,020 $1,878 $825 -$146
Care Fee Comparison        
Care Fee – DIY Scenario -$4,022 -$4,022 -$4,022 -$4,022
Care Fee – Alliance Scenario -$4,022 -$4,022 -$4,022 -$4,022
Difference $0 $0 $0 $0
Cash flow Comparison        
Cash Flow – DIY Scenario -$25,257 -$23,363 -$21,611 -$19,990
Cash Flow – Alliance Scenario -$14,141 -$13,383 -$12,681 -$12,030
Difference $11,116 $9,980 $8,930 $7,960
Wealth Value Comparison        
Wealth Value – DIY Scenario $924,743 $901,380 $879,769 $859,779
Wealth Value – Alliance Scenario $935,859 $922,475 $909,795 $897,765
Wealth Savings Difference  $11,116 $21,096 $30,026 $37,986

What does all this mean?

In summary, it means that you’ll:

  • Have valuable DIY financial impact information that you can use whether you get financial advice from us or not.
  • Have peace of mind and reduced stress by having financial impact information.
  • Be able to decide whether financial advice is a good option for you.

Once you get the calculation report, we’ll make a follow up call to answer any remaining general advice questions, discuss the multi-report, and provide a financial advice fee quote. Getting a calculation report from us is free. It does not obligate you to get financial advice.

The one-off fee will be based on the work you require from us and the complexity of your situation. You can then decide whether our advice is value for money and if you should get financial advice.

It’s similar to going onto a website to explore purchasing something. You can gather information but are not obligated to purchase anything. It’s the same for people who get a calculation report from us. If you don’t want financial advice, you can choose to simply go no further.

For those who become clients, we offer an optional financial advice review service. We do not commit clients to ongoing service agreements. Instead, we provide reviews if / when requested. Clients can request a review at any time. A review fee quote is provided before any work is started. and will depend on the complexity of your situation and the review work you request.

Does it matter if I live too far from your Brisbane location for meetings?

That does not have to matter as we’ve been providing financial advice for a number of years to people who live in other states. Therefore, please feel free to contact us no matter where you live.

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Back of the Envelope

Wealth Savings Calculator

Select from the below options:
What is your entry amount paid or payable

Remaining wealth after paying the entry amount

Annual total living expenses

If your desired amount is not one of the choices, select the nearest choice without going over your desired amount (i.e., if your desired entry amount is $400,000, choose $500,000). Making choices like this will provide a more conservative result.

You need to select an item to continue

Calculate

Here is your calculated Back of the Envelope wealth savings.
It compares your DIY scenario's results with ours.
This calculator is current as of 06/07/22
(This calculator provides general advice only).
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$3,654
$7,310
$10,968
$14,628
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$3,654
 $7,270$10,848$14,387
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$7,230$7,310
$10,727$14,146
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$11,116$21,096$30,026$37,986
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$11,116$21,056$29,912$45,991
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$11,116$21,016$29,797$41,427
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$12,539$25,077$37,614$62,728
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$12,539$25,037$37,494$67,190
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$12,539$24,997$38,233$67,852
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$16,982$33,986$51,013$60,063
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$16,982$33,946$50,893$67,822
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$16,982$33,906$50,772$70,064
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$21,424$42,895$64,412$85,976
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$21,424$42,855$64,292$85,735
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$21,424$42,815$64,171$85,493
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$27,969$55,659$83,073$110,211
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$27,969$55,394$82,278$108,624
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$27,969$55,129$81,484$107,332
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$3,654
$7,310
$10,968
$14,628
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$3,654
 $7,270$10,848$14,387
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$7,230$7,310
$10,727$14,146
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$11,116$21,096$30,026$50,555
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$11,116$21,056$29,912$45,991
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$11,116$21,016$29,797$41,427
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$12,539$25,077$37,614$62,728
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$12,539$25,037$37,494$67,190
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$12,539$24,997$38,233$67,852
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$16,982$33,986$51,013$60,063
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$16,982$33,946$50,893$67,822
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$16,982$33,906$50,772$70,064
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$21,424$42,895$64,412$85,976
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$21,424$42,855$64,292$85,735
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$21,424$42,815$64,171$85,493
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$27,969$55,659$83,073$110,211
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$27,969$55,394$82,278$108,624
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$27,969$55,129$81,484$107,332
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$3,654
$7,310
$10,968
$14,628
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$3,654
 $7,270$10,848$14,387
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$7,230$7,310
$10,727$14,146
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$11,116$21,096$30,026$50,555
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$11,116$21,056$29,912$45,991
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$11,116$21,016$29,797$41,427
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$12,539$25,077$37,614$62,728
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$12,539$25,037$37,494$67,190
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$12,539$24,997$38,233$67,852
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$16,982$33,986$51,013$60,063
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$16,982$33,946$50,893$67,822
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$16,982$33,906$50,772$70,064
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$21,424$42,895$64,412$85,976
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$21,424$42,855$64,292$85,735
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$21,424$42,815$64,171$85,493
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$27,969$55,659$83,073$110,211
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$27,969$55,394$82,278$108,624
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$27,969$55,129$81,484$107,332
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$3,654
$7,310
$10,968
$14,628
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$3,654
 $7,270$10,848$14,387
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$7,230$7,310
$10,727$14,146
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$11,116$21,096$30,026$50,555
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$11,116$21,056$29,912$45,991
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$11,116$21,016$29,797$41,427
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$12,539$25,077$37,614$62,728
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$12,539$25,037$37,494$67,190
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$12,539$24,997$38,233$67,852
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$16,982$33,986$51,013$60,063
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$16,982$33,946$50,893$67,822
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$16,982$33,906$50,772$70,064
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$21,424$42,895$64,412$85,976
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$21,424$42,855$64,292$85,735
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$21,424$42,815$64,171$85,493
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$27,969$55,659$83,073$110,211
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$27,969$55,394$82,278$108,624
Wealth Savings End of Yr 1
Wealth Savings End of Yr 2
Wealth Savings End of Yr 3
Wealth Savings End of Yr 4
$27,969$55,129$81,484$107,332

Our discussion will result in your questions being answered and a free multi-page calculation report.
The report will provide additional general information and more specific calculated results.
You will end up being more informed.
You will not be obligated to get financial advice.
You will end up being more informed.Beyond that, financial advice will be optional.
To get your free calculation report, contact us.
Call us on 07 33971806 (or 0414971806) or Book a phone discussion time slot via our calendar.

Note: The below times are for the Brisbane locality. If you are in another Australian time zone, you need to select accordingly.

You need to select an item to continue

Calculate

Final cost

The final estimated price is :

Summary

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Information About Home Care Packages

 

Why is this information important?

This article provides useful Home Care Package information that includes an explanation and an example of how to use our unique Back of the Envelope calculator. The calculator is designed to help you determine if getting financial advice will be of financial benefit.

The calculator provides yearly estimates of “wealth savings” for a typical DIY scenario versus our advice scenario. The calculator uses the same information for both scenarios. The DIY results are compared with our advice results to get the yearly “wealth savings” amounts. For example, if the calculated value of your DIY scenario wealth at the end of year 1 is $400,000 and our advice scenario result is $405,000, the wealth savings estimate at the end of year 1 is $5,000. The calculator assumes that you do not want to take any investment risk in either scenario. Using the same information and level of investment risk for both scenarios means that you are comparing “apples with apples”.

There may come a time when you need some help at home. Help that is suitable for older Australians.

Home Care Packages (HCP) are the main way that older Australians can access affordable care services for help in their home. HCPs are designed for those with more complex care needs that go beyond what the Commonwealth Home Support Program can provide.

HCP can be an option if you need a coordinated approach to the delivery of your help at your home – perhaps because you need help with many everyday tasks, or the care you need is more complex or intensive.

The Aged Care Act 1997 is the main legislation that covers government-funded Home Care Packages.

The government’s My Aged Care department should be your first contact point. Their website has lots of helpful information on HCP and HCP providers.

What are the steps to follow for getting a Home Care Package.

While the process of getting a HCP can be time-consuming and stressful, the actual steps are not difficult:

  1. Contact My Aged Care.
  2. Get an ACAT assessment (ACAS in Victoria).
  3. Apply for a HCP
  4. When notified that your HCP funding has been approved, find an accredited HCP provider.
  5. Advise the govt. that you have selected a HCP provider and will accept the HCP.
  6. Develop a care package program and budget with your HCP provider.

Level 1 and 2 packages usually take a month or more to be approved. Levels 3 and 4 packages can take up to 2 years! Don’t put off starting the HCP process in the belief that when you need it, it will be approved in a few weeks.

Once you have received notice that your HCP funding has been approved, you only have 56 days to notify the government that you will accept the offer. If you miss the deadline, your HCP offer will be withdrawn, and you will need to re-apply.

Accepting the HCP offer involves finding an accredited HCP provider. This is part of the government’s system of Consumer Directed Care.

The My Aged Care website has a list of accredited HCP providers. Not all providers operate in a similar way. You should talk to a few and ask about the services they offer, how they provide those services, and the costs of those services. You should also ask about their administration fees. You should also ask what they charge to set up your account as well as the cost if you later decide to switch to another HCP provider.

How many Home Care Package levels are there?

There are 4 home care package levels:

  • Level I provides for basic care needs with about 5 hours of help per fortnight. The package value is currently about $8,500 pa.
  • Level 2 provides for low-level care needs with about 9 hours of help per fortnight. The package value is currently about $15,000 pa.
  • Level 3 provides for intermediate care needs with about 19 hours of help per fortnight. The package value is currently about $33,000 pa.
  • Level 4 provides for high level care needs with about 29 hours of help per fortnight. The package value is about $51,000 pa.

What happens to my Home Care Package money?

The government will only pay your HCP money to an approved package provider. They will not pay it directly to you to self-manage.

How does the Home Care Package system work?

Think of the financial part of the HCP process as one where an account is opened by your HCP provider  just for you. The account will receive money from various sources. It will pay out money for costs related to your care.

For each HCP, the government charges a basic daily care fee as well as an income tested fee if you have income above a threshold. These government-charged fees will be withdrawn from your package account. In fact, when the government puts HCP money into your account, they will reduce the payment by the amount owing for basic daily care fees and income tested fees during that period.

The package provider will withdraw money from your account to pay for various care fees as well as their fees to manage your package. Your HCP provider will provide you with account statements periodically. Any money left in your account at the end of the year will carry forward into the next year.

If you change HCP providers, any remaining value in your account will transfer to your new provider.

Word of mouth opinions on HCP providers can be useful. However, your care needs and financial situation might not be identical to the person/s giving opinions. Therefore, you should research HCP providers before making your choice.

What is your current financial situation?

If you are applying for or already have a HCP, now would be a good time to consider your financial situation.

However, most people at this time simply keep doing whatever they’ve been doing financially. Very few consider getting financial advice.

It’s no surprise that many people choose the Do-It-Yourself option (DIY) at this time. But there are good news/bad news elements to this.

The good news is that almost anyone can complete these aged care steps. The bad news is that there are critical elements which often gets put in the too hard basket – the financial elements.

People who choose to DIY move through these steps and perhaps feel that they’ve likely gotten as good a financial result as possible. Unfortunately, this is seldom the case. DIY people struggle to get a good financial result because they don’t know:

  • All of their financial options.
  • All favourable aged pension and strategies related to home care packages.
  • The applicable legislation.

Understandably, “they don’t know what they don’t know”.

If choosing to DIY, most people focus mainly on what they will pay in HCP care fees. They might also consider how this will affect their pension entitlement, if applicable.

However, even more important than those is knowing a more complete financial impact – including the impact on their cash flow and especially their estimated wealth both now and in the next few years.

Ideally, a comparison should also be done between the DIY results and the results that a financial adviser would provide. To do a comparison, the DIY scenario results need to be calculated. For example, how much wealth you will have at the end of year 1, year 2, year 3, and year 4. The financial advice scenario results would also need to be obtained.

Most people would find putting together comparison information like this is to be both difficult and time-consuming. Most people don’t even try. Our unique Back of the Envelope calculator will provide comparison information for free.

What is a Back of the Envelope calculator?

A Back of the Envelope calculator provides a calculation that gives a good estimate of whatever is being calculated but is likely to be less accurate than a more detailed calculation.

What is the financial impact of getting a HCP?

The financial impact can be estimated using our calculator.

An example using our Back of the Envelope calculator.

Our calculator is easy to use.

The  calculator compares the yearly wealth results of your DIY scenario with the results of our advice scenario. The calculator compares those 2 wealth results and determines a “wealth savings amount” – the difference between the 2 scenarios in each of the first 4 years.

Whilst we would maintain that almost everyone faced with aged care decisions would benefit from financial advice provided by an aged care specialist, we’ll focus here on simply the financial outcomes.

If your calculation results show wealth saving estimates that are not “significant to you”, there would be less need for you to contact us.

If your calculation results show wealth saving estimates that are “significant to you”, you should contact us to arrange more accurate calculations. At that time, we’ll also provide you with other results (aged pension entitlement, care fees, and cash flow). Those results will come from us using your specific details rather than the following assumed details that are already loaded into our calculator.

Here are the calculator’s assumed details used for both scenario’s calculations:

    • Relationship = Single
    • Investment Risk = You do not want to take any investment risks.
    • Bank wealth earning rate average = 0.30% pa

    You simply need to choose 3 values from the provided choices. Your chosen values will be used for both scenario’s calculations.

    • Entry amount paid or payable.
    • Remaining wealth after paying the entry amount.
    • Annual total living expenses.

    Selecting the 3 values is all you have to do!

    Our calculator provides a Back of the Envelope wealth savings comparison of your  DIY results with our Alliance Financial Planning (Alliance) results.

    If you had selected:

    • What is your entry amount paid or payable = $750,000
    • Remaining wealth after paying the entry amount = $500,000
    • Annual total living expenses = $30,000

    The above example’s calculated results will be:

    The wealth savings in Year 1 are $10,846. This is the difference between the end of Year 1 wealth values ($10,846 = $940,630 – $951,476). The following tables and information will help you to better understand where these amounts came from.

    As already written, if your calculator results show wealth savings amounts that are “meaningful to you”,  you should contact us to arrange a more accurate set of results.  as well as additional calculations (aged pension entitlement, care fees, and cash flow).

    Contacting us will result in a phone discussion with a certified financial planner who is an Accredited Aged Care Advice ProfessionalTM.

    If that phone call ends up saving you the sort of money shown by your Back of the Envelope calculated results, wouldn’t it be worth a simple phone discussion?

    What happens in the phone discussion and afterwards?

    During the phone discussion, we’ll answer any general advice questions you might have and also collect information. For example, you’ll be asked whether you’re single or not, if you have other investments or incomes, what is the specific entry amount you are contemplating or have paid, etc.

    Your information will enable us to provide you with more accurate as well as more extensive results in the form of a multi-page report.

    The report is free and there is no obligation to then get financial advice.

    Your multi-page report will be emailed to you within 24 hours and will include estimated starting care fees and your aged pension entitlement if applicable.

    Your multi-page report will include calculations for your DIY scenario.

      Yr 1 Yr 2 Yr 3 Yr 4
    Aged Pension Entitlement $22,406 $22,511 $22,624 $22,736
    Care Fees $3,285 $4,022 $4,022 $4,022
    Cash Flow -$9,370 -$10,028 -$9,945 -$9,863
    Wealth Value $940,630 $930,602 $920,657 $910,794

    The calculation results for Year 1 become the starting point for calculating the Year 2 results, etc. The calculation results include tax, if applicable. All calculations are in today’s dollars.

    Your report provides not just your DIY Scenario results but also our financial advice scenario results. Continuing with the same example, the report will contain this information:

      Yr 1 Yr 2 Yr 3 Yr 4
    Aged Pen. Entitlement Comparison        
    Aged Pen. Entitlement – DIY Scenario $22,406 $22,511 $22,624 $22,736
    Aged Pen. Entitlement – Alliance Scenario $25,155 $25,155 $25,155 $25,155
    Difference $2,749 $2,644 $2,531 $2,419
    Care Fee Comparison        
    Care Fee – DIY Scenario -$3,285 -$4,022 -$4,022 -$4,022
    Care Fee – Alliance Scenario -$3,285 -$4,022 -$4,022 -$4,022
    Difference $0 $0 $0 $0
    Cash flow Comparison        
    Cash Flow – DIY Scenario -$9,370 -$10,028 -$9,945 -$9,863
    Cash Flow – Alliance Scenario $1,476 $748 $751 $755
    Difference $10,846 $10,776 $10,697 $10,618
    Wealth Value Comparison        
    Wealth Value – DIY Scenario $940,630 $930,602 $920,657 $910,794
    Wealth Value – Alliance Scenario $951,476 $952,223 $952,974 $953,730
    Wealth Savings Difference $10,846 $21,629 $32,318 $42,936

    What does all this mean?

    In summary, it means that you’ll:

    • Have valuable DIY financial impact information that you can use whether you get financial advice from us or not.
    • Have peace of mind and reduced stress by having financial impact information.
    • Be able to decide whether financial advice is a good option for you.

    Once you get the calculation report, we’ll make a follow up call to answer any remaining general advice questions, discuss the multi-report, and provide a financial advice fee quote. Getting a calculation report from us is free. It does not obligate you to get financial advice.

    The one-off fee will be based on the work you require from us and the complexity of your situation. You can then decide whether our advice is value for money and if you should get financial advice.

    It’s similar to going onto a website to explore purchasing something. You can gather information but are not obligated to purchase anything. It’s the same for people who get a calculation report from us. If you don’t want financial advice, you can choose to simply go no further.

    For those who become clients, we offer an optional financial advice review service. We do not commit clients to ongoing service agreements. Instead, we provide reviews if / when requested. Clients can request a review at any time. A review fee quote is provided before any work is started. and will depend on the complexity of your situation and the review work you request.

    Does it matter if I live too far from your Brisbane location for meetings?

    That does not have to matter as we’ve been providing financial advice for a number of years to people who live in other states. Therefore, please feel free to contact us no matter where you live.

    GET STARTED

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    Thank you, we will contact you soon !

    Back of the Envelope

    Wealth Savings Calculator

    Select from the below options:
    Value of your home

    Remaining Wealth after paying the entry amount

    Annual Total Living Expenses

    If your desired amount is not one of the choices, select the nearest choice without going over your desired amount (i.e. if your desired value of your home is $700,000, choose $400,000). This will provide a more conservative approximate amount.

    You need to select an item to continue

    Calculate

    Here is your calculated Back of the Envelope wealth savings.
    It compares your DIY scenario's results with ours.
    This calculator is current as of 06/07/22
    (This calculator provides general advice only).
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $3,654$7,310$10,968$14,628
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $3,654$7,278$10,872$14,335
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $3,654$7,238$10,752$14,194
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $11,116$21,104$30,048$38,029
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $11,116$21,064$29,934$37,812
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $11,116$21,024$29,820$37,595
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $12,539$25,085$37,638$50,199
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $12,539$25,045$37,518$49,957
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $12,539$25,005$37,629$50,430
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $16,982$33,994$51,037$68,111
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $16,982$33,954$50,917$67,870
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $16,982$33,914$50,797$67,629
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $21,424$42,903$64,436$86,024
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $21,424$42,863$64,316$85,783
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $21,424$42,823$64,195$85,542
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $25,867$51,811$77,835$103,937
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $25,867$51,771$77,714$103,696
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $25,867$51,731$77,594$103,454
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $3,654$7,310$10,968$14,628
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $3,654$7,270$10,848$14,387
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $3,654$7,230$10,727$14,146
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $10,846$21,611$32,298$42,907
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $10,846$21,346$31,504$41,320
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $10,846$21,081$30,710$39,734
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $17,236$32,733$46,621$59,022
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $17,236$32,693$46,507$58,805
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $17,236$32,653$46,393$58,588
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $16,982$33,986$51,013$68,063
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $16,982$33,946$50,893$67,822
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $16,982$33,906$50,772$68,256
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $21,424$42,895$64,412$85,976
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $21,424$42,855$64,292$85,735
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $21,424$42,815$64,174$85,493
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $27,969$55,659$83,073$110,211
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $27,969$55,394$82,278$108,624
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $27,969$55,129$81,484$107,332
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $3,654$7,318$10,992$14,677
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $3,654$7,278$10,872$14,435
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $3,654$7,238$10,752$14,194
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $11,116$21,104$30,048$38,029
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $11,116$21,064$29,934$37,812
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $11,116$21,024$29,820$37,595
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $12,539$25,085$37,638$50,199
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $12,539$25,045$37,518$49,957
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $12,539$25,005$37,629$50,430
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $16,982$33,994$51,037$68,111
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $16,982$33,954$50,917$67,870
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $16,982$33,914$50,797$67,629
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $21,424$42,903$64,436$86,024
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $21,424$42,863$64,316$85,783
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $21,424$42,823$64,195$85,542
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $25,867$51,811$77,835$103,937
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $25,867$51,771$77,714$103,696
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    $25,867$51,731$77,594$103,454

    Our discussion will result in your questions being answered and a free multi-page calculation report.
    The report will provide additional general information and more specific calculated results.
    You will end up being more informed.
    You will not be obligated to get financial advice.
    You will end up being more informed.Beyond that, financial advice will be optional.
    To get your free calculation report, contact us.
    Call us on 07 33971806 (or 0414971806) or Book a phone discussion time slot via our calendar.

    Note: The below times are for the Brisbane locality. If you are in another Australian time zone, you need to select accordingly.

    You need to select an item to continue

    Calculate

    Final cost

    The final estimated price is :

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    Information About Retirement Villages and Lifestyle Villages

     

    Why is this information important?

    This article provides useful information about Retirement Villages and Lifestyle Villages that includes an explanation and an example of how to use our unique Back of the Envelope calculator. The calculator is designed to help you determine if getting financial advice will be of financial benefit.

    The calculator provides yearly estimates of “wealth savings” for a typical DIY scenario versus our advice scenario. The calculator uses the same information for both scenarios. The DIY results are compared with our advice results to get the yearly “wealth savings” amounts. For example, if the calculated value of your DIY scenario wealth at the end of year 1 is $400,000 and our advice scenario result is $405,000, the wealth savings estimate at the end of year 1 is $5,000. The calculator assumes that you do not want to take any investment risk in either scenario. Using the same information and level of investment risk for both scenarios means that you are comparing “apples with apples”.

    Retirement villages or lifestyle villages (often called land lease villages or communities) are a popular form of retirement living throughout Australia.

    They offer many positives, including the chance to downsize, make new friends, and to be part of a positive, active retirement village environment.

    What is the most common type of retirement village contract?

    Retirement villages are governed by retirement villages legislation. For example, in Queensland, the retirement villages legislation includes the Retirement Villages Act 1999.

    The most common type of retirement village contract is where the village owns both the land and the dwelling, and you enter into a long-term lease of your dwelling: typically, a 99-year lease.

    Your chosen retirement village may also offer a choice of resident contracts. The choices may include a choice of entry amount options as well as exit entitlement conditions and amounts. For example, you may be able to pay different entry amounts that will reduce or eliminate a deferred management fee. Some contracts may allow you to share in your unit’s capital growth or receive your exit entitlement more quickly than other contracts.

    What is the most common type of lifestyle village contract?

    The most common type of Lifestyle village contract is where the village owns the land, and you own the dwelling that you live in.

    Lifestyle villages are usually governed by the same legislation that applies to mobile home and caravan park residents – legislation that is more closely aligned with a tenancy agreement.

    What are the steps to follow for getting into a retirement or lifestyle village?

    The steps to follow to get into a retirement or lifestyle village are not hard to understand:

    1. Find a suitable retirement or lifestyle village and choose a home unit or dwelling.
    2. Decide how to pay for the costs.
    3. Sign a resident agreement.
    4. Move in.

    Retirement and lifestyle villages can have complex arrangements

    Both retirement and lifestyle villages can have complex arrangements. You should be very clear on what type of village you are considering.

    You should also be very clear on the entry amount you pay to live there, the on-going fees, the exit entitlement when you leave, and also when you will get your exit entitlement. You may have to pay on-going costs for a period of time after you exit the village. These details must be provided to you before you sign an agreement to reside in the village.

    Retirement and lifestyle villages staff will help you understand information for both the village and the specific dwelling that you have chosen.

    What is your current financial situation?

    If you are considering a move into a retirement or lifestyle village, now would be a good time to consider your financial situation.

    If moving into a retirement or lifestyle village, there may be implications for your aged pension entitlement.

    If in receipt of a Home Care Package, there may be implications for the HCP fees you pay.

    Consideration should also be given to possible future events such as the need to move into aged care.  For example, how would you pay the aged care accommodation cost? What about the on-going aged care fees. What if you have a partner who will stay in your village residence? What will this mean financially?

    However, most people at this time simply keep doing whatever they’ve been doing financially. Very few consider getting financial advice.

    It’s no surprise that many people choose the Do-It-Yourself option (DIY) at this time. But there are good news/bad news elements to this.

    The good news is that almost anyone can complete these aged care steps. The bad news is that there are critical elements which often gets put in the too hard basket – the financial elements.

    People who choose to DIY move through these steps and perhaps feel that they’ve likely gotten as good a financial result as possible. Unfortunately, this is seldom the case. DIY people struggle to get a good financial result because they don’t know:

    • All of their financial options.
    • All of the retirement or lifestyle village strategies.
    • All of the possible aged pension strategies (if applicable).
    • All of the possible home care package strategies (if applicable).
    • All of the legislation that might be applicable.

    Understandably, “they don’t know what they don’t know”.

    If choosing to DIY, most people focus mainly on the village entry amount and the village on-going fees they will pay.

    However, even more important than those is knowing a more complete financial impact – including the impact on their cash flow and especially their estimated wealth both now and in future years.

    Ideally, a comparison should also be done between the DIY results and the results that a financial adviser would provide. To do a comparison, the DIY scenario results need to be calculated. For example, how much wealth you will have at the end of year 1, year 2, year 3, year 4, etc. The financial advice scenario results would also need to be obtained.

    Most people would find putting together comparison information like this is to be both difficult and time-consuming. Most people don’t even try.

    Our unique Back of the Envelope calculator will provide comparison information for free.

    What is a Back of the Envelope calculator?

    A Back of the Envelope calculator provides a calculation that gives a good estimate of whatever is being calculated but is likely to be less accurate than a more detailed calculation.

    What is the financial impact of moving into a retirement or lifestyle village?

    The financial impact can be estimated using our calculator.

    An example using our Back of the Envelope calculator.

    Our calculator is easy to use.

    The  calculator compares the yearly wealth results of your DIY scenario with the results of our advice scenario. The calculator compares those 2 wealth results and determines a “wealth savings amount” – the difference between the 2 scenarios in each of the first 4 years.

    Whilst we would maintain that almost everyone faced with aged care decisions would benefit from financial advice provided by an aged care specialist, we’ll focus here on simply the financial outcomes.

    If your calculation results show wealth saving estimates that are not “significant to you”, there would be less need for you to contact us.

    If your calculation results show wealth saving estimates that are “significant to you”, you should contact us to arrange more accurate calculations. At that time, we’ll also provide you with other results (aged pension entitlement, care fees, and cash flow). Those results will come from us using your specific details rather than the following assumed details that are already loaded into our calculator.

    Here are the calculator’s assumed details used for both scenario’s calculations:

    • Relationship = Single
    • Investment Risk = You do not want to take any investment risks.
    • Bank wealth earning rate average = 0.30% pa

    You simply need to choose 3 values from the provided choices. Your chosen values will be used for both scenario’s calculations.

    • Entry amount paid or payable.
    • Remaining wealth after paying the entry amount.
    • Annual total living expenses.

    Selecting the 3 values is all you have to do!

    Our calculator provides a Back of the Envelope wealth savings comparison of your DIY results with our Alliance Financial Planning (Alliance) results.

    if you had selected:

    • Entry amount paid or payable = $600,000
    • Remaining wealth after paying the entry amount = $500,000
    • Annual total living expenses = $50,000

    The above example’s calculated results will be:

    The wealth savings in Year 1 is $11,116. This is the difference between the end of Year 1 wealth values ($11,116 = $1,069,870 – $1,058,754). The upcoming tables and information will help you to better understand where these amounts came from.

    As already written, if your calculator results show wealth savings amounts that are “meaningful to you”,  you should contact us to arrange a more accurate set of results.  as well as additional calculations (aged pension entitlement, care fees, and cash flow).

    Contacting us will result in a phone discussion with a certified financial planner who is an Accredited Aged Care Advice ProfessionalTM.

    If that phone call ends up saving you the sort of money shown by your Back of the Envelope calculated results, wouldn’t it be worth a simple phone discussion?

    What happens in the phone discussion and afterwards?

    During the phone discussion, we’ll answer any general advice questions you might have and also collect information. For example, you’ll be asked whether you’re single or not, if you have other investments or incomes, what is the specific entry amount you are contemplating or have paid, etc.

    Your information will enable us to provide you with more accurate as well as more extensive results in the form of a multi-page report.

    The report is free and there is no obligation to then get financial advice.

    Your multi-page report will be emailed to you within 24 hours and will include estimated starting care fees and your aged pension entitlement if applicable.

    Your multi-page report will include calculations for your DIY scenario.

      Yr 1 Yr 2 Yr 3 Yr 4 Yr 5
    Aged Pension Entitlement $7,254 $10,471 $13,447 $16,200 $18,746
    Care Fees $0 $0 $0 $0 $0
    Cash Flow -$41,246 -$38,153 -$35,291 -$32,644 -$30,196
    Wealth Value $1,058,754 $1,020,601 $985,310 $952,666 $922,470

    The calculation results for Year 1 become the starting point for calculating the Year 2 results, etc. The calculation results include tax, if applicable. All calculations are in today’s dollars.

    Your report provides not just your DIY Scenario results but also our financial advice scenario results. Continuing with the same example, the report will contain this information:

      Yr 1 Yr 2 Yr 3 Yr 4 Yr 5
    Aged Pen. Entitlement Comparison          
    Aged Pen. Entitlement – DIY Scenario $7254 $10,471 $13,447 $16,200 $18,746
    Aged Pen. Entitlement – Alliance Scenario $10,274 $12,349 $14,275 $16,061 $17,718
    Difference $3,020 $1,878 $828 $139 $1,028
    Care Fee Comparison          
    Care Fee – DIY Scenario $0 $0 $0 $0 $0
    Care Fee – Alliance Scenario $0 $0 $0 $0 $0
    Difference $0 $0 $0 $0 $0
    Cash flow Comparison          
    Cash Flow – DIY Scenario -$41,246 -$38,153 -$35,291 -$32,644 -$30,196
    Cash Flow – Alliance Scenario -$30,130 -$28,205 -$26,420 -$24,766 -$23,233
    Difference $11,116 $9,948 $8,871 $7,878 $6,963
    Wealth Value Comparison          
    Wealth Value – DIY Scenario $1,058,754 $1,020,601 $985,310 $952,666 $922,470
    Wealth Value – Alliance Scenario $1,069,870 $1,041,665 $1,015,245 $990,478 $967,245
    Wealth Savings Difference  $11,116 $21,064 $29,934 $37,812 $44,775

    What does all this mean?

    In summary, it means that you’ll:

    • Have valuable DIY financial impact information that you can use whether you get financial advice from us or not.
    • Have peace of mind and reduced stress by having financial impact information.
    • Be able to decide whether financial advice is a good option for you.

    Once you get the calculation report, we’ll make a follow up call to answer any remaining general advice questions, discuss the multi-report, and provide a financial advice fee quote. Getting a calculation report from us is free. It does not obligate you to get financial advice.

    The one-off fee will be based on the work you require from us and the complexity of your situation. You can then decide whether our advice is value for money and if you should get financial advice.

    It’s similar to going onto a website to explore purchasing something. You can gather information but are not obligated to purchase anything. It’s the same for people who get a calculation report from us. If you don’t want financial advice, you can choose to simply go no further.

    For those who become clients, we offer an optional financial advice review service. We do not commit clients to ongoing service agreements. Instead, we provide reviews if / when requested. Clients can request a review at any time. A review fee quote is provided before any work is started. and will depend on the complexity of your situation and the review work you request.

    Does it matter if I live too far from your Brisbane location for meetings?

    That does not have to matter as we’ve been providing financial advice for a number of years to people who live in other states. Therefore, please feel free to contact us no matter where you live.

    GET STARTED

    0$

    Thank you, we will contact you soon !

    Back of the Envelope

    Wealth Savings Calculator

    Select from the below options:
    Entry Amount

    Remaining wealth after paying the entry amount

    Annual Total Living Expenses?


    If your desired amount is not one of the choices, select the nearest choice without going over your desired amount (i.e. if your desired entry amount is $500,000, choose $400,000). This will provide a more conservative approximate amount.

    You need to select an item to continue

    Calculate

    Here is your calculated Back of the Envelope wealth savings.
    It compares your DIY scenario's results with ours.
    This calculator is current as of 06/07/22
    (This calculator provides general advice only).
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $3,654$7,318$10,992$14,677
    $18,371
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $11,116$21,104$30,048$38,029$45,119
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $12,539$25,085$37,638$50,199$62,766
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $16,982$33,994$51,037$68,111$85,216
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $21,424$42,903$64,436$86,024$107,667
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $25,867$51,811$77,835$103,937$130,118
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $3,654$7,278$10,872$14,435$17,968
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $11,116$21,064$29,934$37,812$44,775
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $12,539$25,045$37,518$49,957$61,455
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $16,982$33,954$50,917$67,870$84,813
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $21,424$42,863$64,316$85,783$107,264
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $25,867$51,771$77,714$103,696$129,715
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $3,654$7,238$10,752$14,194$17,565
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $11,116$21,024$29,820$37,595$44,431
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $12,539$25,005$37,629$50,430$61,739
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $16,982$33,914$50,797$67,629$84,410
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $21,424$42,823$64,195$85,542$106,861
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $25,867$51,731$77,594$103,454$129,312
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $3,654$7,318$10,992$14,677
    $18,371
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $11,116$21,104$30,048$38,029$45,119
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $12,539$25,085$37,638$50,199$62,766
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $16,982$33,994$51,037$68,111$85,216
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $21,424$42,903$64,436$86,024$107,667
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $25,867$51,811$77,835$103,937$130,118
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $3,654$7,278$10,872$14,435$17,968
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $11,116$21,064$29,934$37,812$44,775
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $12,539$25,045$37,518$49,957$61,455
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $16,982$33,954$50,917$67,870$84,813
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $21,424$42,863$64,316$85,783$107,264
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $25,867$51,771$77,714$103,696$129,715
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $3,654$7,238$10,752$14,194$17,565
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $11,116$21,024$29,820$37,595$44,431
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $12,539$25,005$37,629$50,430$61,739
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $16,982$33,914$50,797$67,629$84,410
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $21,424$42,823$64,195$85,542$106,861
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $25,867$51,731$77,594$103,454$129,312
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $3,654$7,318$10,992$14,677
    $18,371
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $11,116$21,104$30,048$38,029$45,119
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $12,539$25,085$37,638$50,199$62,766
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $16,982$33,994$51,037$68,111$85,216
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $21,424$42,903$64,436$86,024$107,667
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $25,867$51,811$77,835$103,937$130,118
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $3,654$7,278$10,872$14,435$17,968
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $11,116$7,278$29,934$37,812$44,775
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $12,539$25,045$37,518$49,957$61,455
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $16,982$33,954$50,917$67,870$84,813
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $21,424$42,863$64,316$85,783$107,264
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $25,867$51,771$77,714$103,696$129,715
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $3,654$7,238$10,752$14,194$17,565
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $11,116$21,024$29,820$37,595$44,431
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $12,539$25,005$37,629$50,430$61,739
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $16,982$33,914$50,797$67,629$84,410
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $21,424$42,823$64,195$85,542$106,861
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $25,867$51,731$77,594$103,454$129,312
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $3,654$7,318$10,992$14,677
    $18,371
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $11,116$21,104$30,048$38,029$45,119
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $12,539$25,085$37,638$50,199$62,766
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $16,982$33,994$51,037$68,111$85,216
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $21,424$42,903$64,436$86,024$107,667
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $25,867$51,811$77,835$103,937$130,118
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $3,654$7,278$10,872$14,435$17,968
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $11,116$7,278$29,934$37,812$44,775
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $12,539$25,045$37,518$49,957$61,455
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $16,982$33,954$50,917$67,870$84,813
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $21,424$42,863$64,316$85,783$107,264
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $25,867$51,771$77,714$103,696$129,715
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $3,654$7,238$10,752$14,194$17,565
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $11,116$21,024$29,820$37,595$44,431
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $12,539$25,005$37,629$50,430$61,739
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $16,982$33,914$50,797$67,629$84,410
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $21,424$42,823$64,195$85,542$106,861
    Wealth Savings End of Yr 1
    Wealth Savings End of Yr 2
    Wealth Savings End of Yr 3
    Wealth Savings End of Yr 4
    Wealth Savings End of Yr 5
    $25,867$51,731$77,594$103,454$129,312

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