E1 How Much Do I Need? - Getting a handle on your cost of living
Release Date: 06/30/2023
E17 The end of this Series - Thanks for being with us
Midlife Money Matters
When Jacqui and Ingrid were planning this series Midlife Money Matters, we knew we wanted to keep it simple and cover the basics as much as we could Jacqui realised that there is NO podcast for older women in Australia and we set out to fix that!! We are really pleased with your response to this series of money episodes and we thank you for all your emails and your reviews In this the final episode for this series we revisit some of the key topics we have covered Paying attention to your Superannuation is critical - start with episode 4 Estate planning - 70% of women in Australia do not have...
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E16 Estate Planning Part 2: Powers of Attorney, Enduring Guardianship and Binding Death Nominations
Midlife Money Matters
You have probably heard these terms and maybe wondered ... what do they actually mean? and why would I get one? Powers of Attorney Enduring Guardianship Binding Death Nominations In this episode - less than 15 minutes - we cover the basics of these 3 important aspects of effective Estate Planning Who would you appoint? What would they making decisions about? and the all important - what happens if something happens and you don't have these instructions in place ?? We don't specifically talk about Wills in this episode - we covered Wills in Episode 14 If you have any questions...
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E15 Issues and Costs of a Move into an Age Care Facility
Midlife Money Matters
Part 3 of our series about Retirement Living options What are the Issues and Costs of a Move into an Age Care Facility We understand and acknowledge this is or can be an emotional topic. Both Jacqui and Ingrid have been through this with their parents - so we understand completely You may have read and heard about residential age care in the media. Most people are quite resistant to going into care. However there are a lot of really good age care homes in Australia with very caring dedicated staff. If people are on their own at home and not managing they are often not getting the correct...
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E14 Estate Planning - Part 1: Things to know about Wills
Midlife Money Matters
Estate Planning is more than just having a will We answer some of the following questions about Estate Planning Why is Estate Planning important ?? and there are many reasons why Estate Planning is important Almost 70% of women in Australia do not have their Estate Planning in place What is a Will? What needs to be included in your Will? What motivates people to make their Will? Did you know that 14% of people say "There is nothing that would encourage me to make a Will!" We talk through what happens if you do not have a Will in place - the impact it has for the family to manage...
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E13 Retirement Living - Part 2 - Is a Retirement Village right for me?
Midlife Money Matters
When it comes to Retirement living many people like the idea of downsizing from the family home and moving into a Retirement Village In this episode we talk about some of the key factors to consider when assessing a Retirement Village as a retirement option A few key points from this episode: It is essential to fully understand all the fees and charges involved. There are entry fees and exit fees as well as monthly charges. Buying into a Retirement Village is not the same as regular property investment. You don't ever own the property, you buy the right to live in that property - and that...
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E12 Retirement Living – Part 1 - Accessing Care at Home
Midlife Money Matters
This is the first of a series: Retirement Living This episode is: Accessing Care at Home This episode is recorded and contains accurate information as at August 2023 "I want to stay in my own home as long as possible" We know this to be true for so many people. Yep! Including us!! In this episode we look at ways you CAN stay in your own home for a long as possible What are the steps to take to ensure this is possible and where and how to access support and assistance with the daily tasks in your home Many people start out with a lower level of support, say community-based services...
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E11 What is retirement? What will your retirement look like?
Midlife Money Matters
Midlife Money Matters is a podcast about money in retirement and helping you figure out how much money you need to live your best life when you finish working. So, today's topic is important One of the important considerations is how are you going to spend your time? how will you keep your mind active? Who will be the people you spend time with? In this episode we don't define retirement, what we offer is a variety of questions to consider and topics for discussion for you and your partner, as well as other members of your family Your retirement will certainly impact different members of your...
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E10 Bank of Mum and Dad - some matters to consider
Midlife Money Matters
The Bank of Mum and Dad is a hot topic right now as we record this episode - July 2023 We know the media is talking a lot about this topic. We have received a number of emails with questions from parents who are considering helping their kids, and in some cases their grandkids, financially In this episode we offer some questions for your consideration We also offer some possible and potential scenarios to consider as you and your family discuss and decide about the financial arrangements between the generations Jacqui and Ingrid created Midlife Money Matters podcast to help Australian...
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E9 Accessing Centrelink Benefits in Retirement
Midlife Money Matters
Here in Australia the Aged Pension is managed through Centrelink In this episode we walk through some of the basics when it comes to dealing with Centrelink A few key points to take from this episode: Start the process early - don't wait till you reach pension age Gather all your documents together before you start the application process Simplify your financial matters and assets - to help with the ongoing reporting obligations Keep copies of documents you provide as well as copies of the information regarding your financial situation If your assets change by more than $1000 you are obliged...
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E8 Divorce in later life - money matters of importance
Midlife Money Matters
You might be surprised to learn that the divorce rate for over 50s in Australia is the fastest growing divorce AND most of the divorces are instigated by women, and not the men! If you are considering divorce - or if someone you know is in this situation - then this is an important episode for you We discuss some of the basic mistakes that we have seen and offer suggestions of what has worked for others We need to make it clear that we do NOT provide specific financial advice on this show, it is just general advice and discussion. If you want advice specific to your situation you need to go...
info_outlineDo your eyes glaze over when you hear someone talking about calculating how much it costs you to live - we promise our approach will help make this easier for you
We know that many people avoid doing this and in this episode we are here to encourage you to take the time to do this - truly you only need to do this once and then afterwards only need to tweak when things change
We give practical examples to help you see how simple it can be to calculate your expenditure and costs
The first step to saving and building your wealth happens when you know what you realistically are able to save rather than just pulling a figure out of the air and not achieving it and giving up. When you know how much you need to live then you can calculate how much to save
Once you know what it costs you to live, this is such a powerful piece of information, and it truly is the key to all your financial planning decisions going forward into the future and for your retirement.
Your task: make a start on calculating how much it costs you to live and if you need any help, let us know
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We mentioned:
Money smart - the ASIC website mentioned, including spreadsheet
We need to make it clear that we do NOT provide specific financial advice on this show, it is just general advice and discussion. If you want advice specific to your situation you need to go and see a financial adviser or financial professional.