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Harold Bodinnar and his wife Maria together with the main speaker, Marie Louis Muscat are photographed with members of the Maltese Welfare (NSW)

 Lawrence Dimech, Maria DeCarlo and Nathalie Gatt, Executive members of MW with Harold Bodinnar.

More Money in Retirement

Retirement age for Age Pension entitlement is currently 65 for males and 63 for females.  This means that on average people will be living between 20 and 30 years in retirement as official life expectancy figures are 82.7 years for males and 86.15 years for females.

It is therefore a very important component of retirement planning to ensure that we do not outlive our money while still maintaining lifestyle outcomes.

We try to ensure that eligible clients achieve maximum income out of their financial assets by investing in a secure and tax effective way and in a way that could entitle them to a part or full Age Pension. We call this Wealth Management.

It is not widely known that a couple with assets amounting to  $600,000 or a single person with assets amounting to $300,000 (not including their residence), could have their investments structured to be eligible for a good part of the Age Pension as well as the valuable concession card.

We are financial advisers and give financial advice.  At this seminar we will be delivering general advice. For specific advice, it is important that we meet with individuals or couples on a one to one basis.  It is most important for us to know our client’s circumstances and objectives prior to giving specific advice on specific strategies and opportunities.

A major part of our role is to educate our clients about financial investment opportunities in order for them to make informed decisions to suit their particular circumstances.

Nursing Homes and Hostels

Increasingly, many of us are now living to a ripe old age meaning that a relatively large percentage of the population will spend their final years in a hostel or nursing home.

There are strategies and options available to minimise the effect of fees and protect Age Pension entitlements once clients move from their own home to an aged care facility. It is therefore extremely important that, prior to moving into one of these facilities, retirees contact their financial adviser to see which is the best way to invest their assets in order to reduce potential ongoing daily fees whilst still maintaining most of the Age Pension and ensure that their income is sufficient to cover all their needs.

These outcomes can be achieved by investing in tax effective investments, investing in Centrelink friendly investments and setting up people’s financial affairs in a way that will also allow their spouses maintain these benefits.

Financial education and advice from a trained adviser on the matters is well worthwhile and can ensure that retirees will pay less, earn more and maintain most of their capital – all within the guidelines of the Centrelink Asset and Income rules. 

Previous Seminars:

* 15th May 2005 (Part A of the Financial Seminar)

* Jintalab iktar taghrif dwar   il-ligijiet Maltin u Awstraljani

*‘Intergenerational conflict resolution’

*   Some earlier works and seminars

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