Big changes are coming to residential aged care in Australia from November 1st, 2024—and for many families, that means paying more. In this episode, Nathan walks Jordan through the updated fee structure, including the introduction of the hoteling contribution, RAD retention, and a complete overhaul of the means-tested care fee (now called the non-clinical care contribution).

They break down how the new rules will affect middle-class Australians in particular, what remains grandfathered for those already in care, and why the timing of entry into care could have significant financial consequences.

If you’ve got a parent or loved one nearing the point of needing aged care, this is a must-listen to understand what’s changing, how to plan around it, and when to seek advice.

Nathan:

advice@nathanfradley.com.au

www.nathanfradley.com.au

Jordan:

jordan@planningsolo.com.au

www.planningsolo.com.au

The information contained in this podcast is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Jordan and Nathan are both authorised representatives of PlanningSolo Licensing, AFS Licence 526143.