Older people tend to be very private around subjects like their finances, estate planning and aged care, etc. This article provides information around what you should be discussing with an elderly relative, and how to open a two-way conversation that puts everyone’s mind at rest.

None of us likes to consider our own mortality. For our older loved ones, it’s an even more confronting topic and difficult to discuss.

When Lindsay became ill, his family’s priority was to support him through his treatment, and keep him positive and as comfortable as possible.

Typical of his generation, Lindsay had always been very private, never sharing personal information – not even with his nearest and dearest. After he passed away, it dawned on the family that nobody knew whether Lindsay would have preferred cremation or burial. At such an emotionally charged time, the question caused quite a dispute.

As parents, we aim to have open dialogue with our children over issues like drugs, sex, etc. But as our parents age, difficult discussions around medical arrangements, Wills, money, etc, are usually put off until something occurs to trigger the talk. Often, by then it’s too late, which is why it’s so important to communicate while you still can.

With many grandparents wanting to help their families financially, particularly in the area of school fees, this article discusses two ways this could be done. It uses a case study to explain the potential financial differences.

Many grandparents want to give their grandchildren a head start in life, and a common way to do so is to help by paying some (or all) of their school fees. This can, of course, simply be done by making a contribution at the time the fees are payable. However, it’s not unusual for grandparents to plan ahead by setting funds aside in a specific account. That is one option, but there might be a better one.

In an aging population, where retirement savings must last so much longer, this article encourages Millennials to take control of their finances to be financially independent. Through professional financial advice, Millennials can ultimately be less dependent on Baby Boomer parents who themselves are living longer and still recovering from the GFC.

Australians are living longer. According to the World Health Organization, we enjoy the fourth best life expectancy in the world behind Japan, Switzerland and Singapore.

Great news for Millennials! Your life expectancy has been tabled at 80 for men and 84 for women. Astounding advances in medical technology could mean you will live much longer! With all that living to be done, how on earth will you fund it?

Well there’s always the Bank of Mum and Dad, right?

Doubtful, you see, according to a 2017 joint survey

This interesting article is focused at Generation X. It talks about working lives/retirement trends throughout the past century and how members of Gen X could break the trend and start getting serious about preparing for life after a final career. It recommends seeking financial advice sooner rather than later.

Every generation thinks life will be different – and of course, each one is right - but when it comes to planning for the future, while we’re young we have a habit of thinking there is still plenty of time. After all, when you’re in your mid-thirties or even early forties, retirement is still decades away; later if the government decides so!

However, like anything forgotten too long, the years pass quickly and the time we could have used constructively has disappeared. For example, early Generation X is now on the countdown to retirement.

If you want to be different today, plan to be different tomorrow.

This article discusses how to provide for future generations tax-effectively through structures such as child pensions and testamentary trusts. It emphasises the importance of estate planning.

For previous generations of Australians, retirement usually meant ceasing work and hoping to live long enough to qualify for the age pension. Apart from the family home and personal belongings there were usually no substantial assets to leave behind for children or other family members. Superannuation has changed all of that.