Are Seniors Saving for a Rainy Day?

There is a misconception that retirees and pre-retirees are either spending their kids’ inheritance (the SKI-ers) or they are hoarding it to pass onto their families when they pass away.

According to The National Seniors’ Australia Social Survey, titled Over 50s: still not confident about their retirement income, less than half the people surveyed believe their superannuation will last their retirement and nearly three quarters (74 per cent) say they want to maintain minimum savings levels.

Older Australians not confident they have enough savings

According to the survey, older Australians are not confident that they will be able to support the lifestyle in retirement that they are hoping for.

The majority of older Australians expect to receive income in their retirement from superannuation. According to the survey, only a small minority indicated their money should be handed down to their families.

No bequests here…

“Only around one in five people said a motive for saving was to make a bequest,” Professor Taylor says in the survey. “So, older people do not have the levels of disposable income as some news reports would have us believe and any suggestion they are just keeping their cash under the mattress, earmarked for the children’s inheritance, is nonsense.”

Saving for a rainy day

“Most older people are saving for a rainy day, and in their later years, these tend to strike more frequently.”

“But they don’t want taxpayers to have to pay their expenses either. Rather, they are aiming to foot the bill themselves as part of a dignified retirement.”

However, there are options for seniors looking for care for their elders or for themselves when they head into their later years. The Federal Government offers a number of financial incentives and packages for home care assistance.

Home Care Packages

Home Care Packages are essentially subsidised funding provided by the Commonwealth Department of Health to support eligible people over the age of 65 years* with the essential home care assistance they need to live a quality life independently.

Services that may be provided, include:

  • Domestic assistance – help with washing and ironing, house cleaning, gardening, basic home maintenance, home modifications related to your care needs and transport to help you with shopping, visit your doctor or attend social activities
  • Personal care – such as help with showering or bathing, dressing and mobility
  • Nursing, allied health and other clinical services  – hearing services and vision services
  • Care co-ordination and case management.

 To find our more about Home Care Packages, click here.

Oxley Home Care

Oxley Home Care is an Approved Aged Care Provider and has been helping Australians live independently at home for over 10 years in Sydney. We ensure your Home Care Package is exactly how you want it – you determine your type of care, how it is delivered and who delivers it.

To gain access to a Home Care Package, the Government requires that you undergo a comprehensive assessment by your local Aged Care Assessment Team (ACAT). To arrange the assessment contact My Aged Care on 1800 200 422 or visit the My Aged Care website.

Don’t worry. We can take care of all of your paperwork. For more information, please feel free to call Oxley Home Care on 1800 221 039.

(The survey was conducted in conjunction with Challenger and surveyed more than 3,000 Australians on their financial plans.)

Share On:

Share on facebook
Share on twitter
Share on linkedin
Share on email

Related News

Oxley News Winter 2021

Find out how you can get more out of your Home Care Package, plus tips for avoiding scams, meet our team plus more. CLICK HERE to download Did you find this…
Read more

Veterans’ Health Week 2018

Did you know that Veterans’ Health Week is next week? It will be held from Saturday September 22 through to Sunday September 30, 2018. The Department of Veterans Affairs, ex-service organisations and community…
Read more

Dementia Awareness Month

Did you know that September is Dementia Awareness Month? Dementia Awareness Month is a campaign conducted by Dementia Australia National that’s all about encouraging Australians to become aware of dementia and to…
Read more

Great Father’s Day Gift Ideas

When we think of Father’s Day, we often think of home-made cards, ties, shirts, handkerchiefs and slippers. But, when it comes to an older father, a Father’s Day gift requires…
Read more

How can I avoid getting dementia?

Did you know?  Almost half of 2,000 people surveyed by the BBC’s ‘Trust Me, I’m a Doctor’ program were keen to know ‘How can I avoid dementia?’ (49 per cent according to a ComRes…
Read more

Christmas shopping with the elderly…

(With much thanks to the Frenchs Forest, Belrose, Davidson and Forestville Community Facebook Group.) If you’re out and about Christmas shopping in a large shopping centre this festive season, perhaps…
Read more

Staying hydrated in the warmer weather…

Staying hydrated, especially as it becomes warmer, is important for everyone. Insufficient consumption of fluids, especially water, can result in headaches, lethargy, urinary tract infections, kidney failure, digestive troubles, hallucinations…
Read more

Is air pollution connected to dementia?

Did you know that air pollution could be linked to an increased risk of developing dementia? According to an observational study undertaken by researchers and scientists at King’s College London,…
Read more

Marking National Carers’ Week

National Carers Week takes place this month, from October 14 to October 20, 2017 – and is all about recognising and celebrating the amazing positive difference that Australia’s 2.7 million unpaid…
Read more

No exit fees at Oxley Home Care

When shopping around for a home care provider, it’s important that you check out if a short-listed home care provider will charge you joining fees, assessment fees, moving fees or…
Read more

Changes benefit people in need of care at home

Oxley Home Care was featured in the Canterbury Bankstown Express on Tuesday April 25, 2017 highlighting the recent changes to Home Care Packages made by the Federal Government’s Department of Health, with a case…
Read more

What are Home Care Packages?

While we are fortunate in Australia to have a world class aged care system in place, as our population ages, we need to make fundamental changes to ensure the system…
Read more

What is an Aged Care Assessment?

Are you in the process of applying for a Home Care Package? Have you had your aged care assessment? Are you wondering what the Aged Care Assessment Team do and…
Read more

Seniors look at changes to aged care

Oxley Home Care was featured in ‘The Manly Daily’ on Saturday February 24, 2017, discussing how seniors now have the power to choose their aged care provider in national reforms implemented on…
Read more

Accessing Home Care after 50…

Aboriginal Australians can access aged care services including home care packages from the age of 50, rather than from 65, as applies to non-Indigenous Australians. According to the Australian Institute of Health and…
Read more

Altruism grows as we age…

Ralph Waldo Emerson, an American essayist, lecturer and poet once wrote: “You cannot do a kindness too soon, for you never know how soon it will be too late.” While that…
Read more

Lifelong learning keeps you young…

“Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning stays young. The greatest thing in life is to keep your mind young” – Henry Ford Henry…
Read more

Why gardening is good for you…

English poet Alfred Austin once wrote: “The glory of gardening: hands in the dirt, head in the sun, heart with nature. To nurture a garden is to feed not just…
Read more

Getting out and about safely…

Getting out and about – and transferring into a car – can be extremely difficult for many older Australians, depending on their level of strength and flexibility. It’s important for their…
Read more

Energy Saving Tips for You…

As we age, it’s harder to live by the old quote: “Don’t stop when you’re tired, stop when you’re done.” That might be all well and good when you were…
Read more

The loneliness of dementia

“There is still such a stigma with the disease. A diagnosis of cancer and everyone rushes in to help. Dementia and everyone disappears!” These sad words are from a dementia…
Read more

The Gift of Independence

Special occasions such as Christmas, birthdays, Mother’s Day and Father’s Day can be an opportune time to thank your ageing parent for all the care, support and strength that they…
Read more

Treating Alzheimer’s Disease with success

Since it was first described over 100 years ago, Alzheimer’s Disease has been without an effective treatment. And while researchers around the world are working tirelessly to find treatments and…
Read more

Caring for the Carer

Caring for a person with dementia can be incredibly tough – both mentally and physically. And, many Baby Boomers now find themselves in the “Sandwich Generation” – caring for their elderly…
Read more

Preventing falls, part 2

The most common place for people aged over 65 to trip or fall is in the home. So, whether it’s slippery floors or a misplaced electrical cord, it pays to…
Read more

Preventing falls, part 1

There is no other single injury cause, including road trauma, which costs the health system more than injuries related to falls, according to the NSW Health Department. Falls are a…
Read more

Remembrance Day

A century ago, Australian soldiers danced in the streets celebrating the end of what was then the bloodiest war the world had even seen – “the war to end all…
Read more

Celebrating National Carers Week 2016

National Carers Week – October 16-22, 2016 – is all about recognising and celebrating the amazing positive difference that Australia’s 2.8 million unpaid carers make to our families, communities and the national…
Read more

Spring Eating…

With the weather becoming warmer, it’s an ideal time to consider purchasing fruit and vegies that are in season. Why? Well, seasonal produce is often cheaper than out-of-season produce, as…
Read more

Living well with dementia…

Did you know that September 2016 was Dementia Awareness Month? The campaign was conducted by Alzheimer’s Australia and was all about encouraging Australians to become aware of dementia and to have a…
Read more

DVA Community Nursing

Oxley Home Care becomes a DVA Community Nursing Provider Oxley Home Care have been contracted by the Department of Veteran Affairs (DVA) to provide DVA Community Nursing Services to clients…
Read more

Preventing Dementia: Online Course (MOOC)

What is Preventing Dementia MOOC? MOOC is an acronym for Massive Open Online Course – a recent global educational development that has been embraced by key universities and learning institutions…
Read more

Doll Therapy for Dementia Clients

Doll therapy is one way Alzheimer’s disease caregivers try to ease anxiety and bring joy to loved ones with dementia. Many caregivers have found doll therapy to be a good…
Read more

iPad’s in Aged Care

iPad’s and Aged Care go hand in hand It’s not only toddlers and teenagers who love downloading apps, games and watching hilarious YouTube clips and music on their iPad’s –…
Read more

Changes to Home Care Packages

Recently Gilian Douglass, Director and General Manager of Oxley Home Care was invited to write a short article for Peninsula Living Magazine about Home Care Packages. Below is the article…
Read more

Our Guarantee

Not satisfied? Get a refund and $250 back!

From our happy Sydney clients

We are part of the myHomecare Group

Want to know more? Get your Free Info Kit here.

I'm looking for home care for: