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Financial planning
It is important to plan ahead for your finances. This can sometimes involve using a financial planner to help you, or to simply do some research yourself into the various options that are available.
- Centrelink Financial Information Service
- Finding a financial planner
- Financial counselling
- Financial planning for seniors booklets
- Financial support - aged care homes
- Financial support - help to stay at home
- Financial support- for carers
Centrelink Financial Information Service
The Centrelink Financial Information Service is a free education and expert information service. This service helps you to make informed decisions about investment and financial issues for your current and future needs. Financial Information Service Officers are not financial planners and do not give or sell advice or purchase investment products.Finding a financial planner
Selecting the right financial planner for your situation is essential. Financial planners provide information on retirement planning, wealth management, savings planning, superannuation, banking and portfolio administration, as well as advice on managed funds and the wealth of financial products available in the marketplace.Select a licensed financial planner who can provide you with a Financial Services Guide and make sure that they can provide you with the services you require after you have explained your financial situation to them.
If you are unsure or want to check if a company or representative is licensed, go to the Australian Securities and Investments Commission and search on the AFS Authorised Representatives Register.
You can also search for a financial planner on the website for the Financial Planning Association of Australia Limited. This provides full contact details for all registered Financial Planners in the country.
Financial counselling
If you’re on a low income and experiencing financial difficulties, you may be able to get free financial counselling services. Community organisations are funded to provide these services across Australia, including regional and rural areas.A financial counsellor can help you with negotiations with financial institutions and creditors, and with your budgeting and referral needs.
Contact the Department of Families, Housing, Community Services and Indigenous Affairs to get contact details for a financial counselling service near you.
Financial planning for seniors booklets
The Australian Government Department of Families, Housing, Community Services and Indigenous Affairs produces a range of free booklets that provide practical and easy-to-read information on topics such as investment options, accommodation choices, concessions, seniors' organisations, and other support available.These publications have been produced with industry bodies, other agencies and community groups to help people improve their lifestyle in retirement. The publications include:
- Investing for your retirement, a guide to help people make informed decisions in order to get the best from their savings and investments.
- Accommodation Choices for Older Australians and their Families, a guide for people who are thinking about where they will be living as they get older and for their families.
- Retirement Income Streams, explains income streams and how they might be used in retirement planning.
Financial support - aged care homes
The financial decisions you make – for instance about how you pay an accommodation bond or accommodation charge – can have different effects on pensions, aged care fees and tax. You may wish to seek financial information to help make the decisions that are best for you.Read more: About financial and legal help in aged care homes
Financial support - help to stay at home
Often people receiving care will have difficulties with their finances, so it helps to know where you or your carer can go for financial support. There are also lots of standards and procedures in place to ensure that you receive good care and legal support when you need it.Read more: About financial and legal help at home
Financial support- for carers
There are two types of Centrelink payments that carers may be able to access to help out with finances.Read more: About financial support for carers
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