Keep up with the latest news and updates
May 23, 2024
Retirement should be a time of relaxation, but for many Australian seniors, it brings financial worries. According to a report by the Australian Institute of Health and Welfare (AIHW), about 40% of older Australians experience financial stress, struggling to meet basic living expenses and maintain a decent standard of living. Additionally, a study by the
May 17, 2024
Treasurer Jim Chalmers announced a $9.3 billion surplus in this year’s Federal Budget, marking a significant achievement with back-to-back surpluses for the first time in nearly two decades. This budget introduces several measures designed to ease the cost-of-living for Australians, including seniors. Notably, there’s energy bill relief and an enhancement to Commonwealth Rent Assistance, both
May 2, 2024
Imagine working your whole life, saving every penny, only to have it swindled away by a scammer. For many seniors, this isn’t just a fear; it’s a reality. Scams can drain life savings, leaving victims struggling to cover everyday expenses or medical bills. With the Australian Bureau of Statistics reporting a gross amount of $2.2 billion
May 1, 2024
When you’re considering a home loan (or a Reverse Mortgage), understanding the mortgage interest rates is crucial. The interest rate determines how much extra money borrowers must pay on top of the borrowed amount. A lower rate means less money paid in interest, while a higher rate increases the overall cost of releasing home equity.
April 23, 2024
Recent banking reforms, initially aimed at curbing predatory lending, have inadvertently tightened credit access for many Australian seniors, leaving them struggling to navigate a rapidly digitising economy. According to Chris Grice, CEO of National Seniors in an interview with ABC, this shift has resulted in a challenging “whack-a-mole” scenario where solving one issue often gives
April 15, 2024
A Reverse Mortgage, in its simplest form, allows you to access the equity in your home, converting it into cash you can use for various needs. Unlike traditional home loans, you don’t need to make regular repayments. Instead, the interest accumulates, and the loan plus any interest and fees is usually repaid when you sell
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