{"id":2514,"date":"2023-07-02T09:50:42","date_gmt":"2023-07-02T09:50:42","guid":{"rendered":"https:\/\/kangaroovalley.nsw.au\/valleyvoice\/?p=2514"},"modified":"2023-07-02T09:58:34","modified_gmt":"2023-07-02T09:58:34","slug":"reaching-60","status":"publish","type":"post","link":"https:\/\/kangaroovalley.nsw.au\/valleyvoice\/2023\/07\/02\/reaching-60\/","title":{"rendered":"Reaching 60?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Many of us feel less than excited about getting older, but there are many benefits in reaching a point in your life where you may have significantly more freedom than in previous decades. It may not be so bad to turn 60 and find out what perks await you when you do. The upside to getting older is becoming eligible for government benefits that could help lower the cost of living.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, it\u2019s the big one. Sixty years old. It\u2019s hard to believe.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a youth-obsessed culture it seems we\u2019re constantly being reminded about the downside of getting older. And it\u2019s true there are some aspects of ageing that are less than optimal.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The body can get a bit creakier. The eyesight can seem a bit blurrier. And the memory can become a bit hazier.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But there are some benefits ahead in your seventh decade that could put a spring in your step as a lot of the day-to-day stresses of life start to fade away.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The mortgage is likely to be lower or paid off, the kids are ready to fly the coop and career worries are hopefully a thing of the past. After a lifetime of hard work it\u2019s time to start enjoying the fruits of your labour.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And as well as enjoying your new-found freedom, you could find yourself saving heaps on bills and services as you become eligible for age-based discounts that lower the cost of living.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here are some potential perks of getting a bit longer in the tooth.<\/span><\/p>\n<p><b>Seniors Card<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Every Australian state and territory operates a Seniors Card scheme, offering discounts on transport and other services from participating businesses. The idea is to make it easier for older people to get out and about and engage with the community. To get the card, you must usually be at least 60 and not working full-time. Remember to ask local businesses if they offer a discount for seniors and keep an eye out for the Seniors Card sign in shops.<\/span><\/p>\n<p><b>Commonwealth Seniors Health Card<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The Commonwealth Seniors Health Card is a Federal Government scheme, providing access to cheaper health care and discounts. It includes cheaper prescription medicines under the Pharmaceutical Benefits Scheme, bulk-billed doctor visits and higher Medicare refunds on out-of-hospital costs once you reach the Medicare Safety Net. You can get the card if you:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">have reached age pension age<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">don\u2019t qualify for a payment from the Department of Human Services or the Department of Veterans&#8217; Affairs<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">meet an income test, and<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">are an Australian resident currently living in Australia.<\/span><\/li>\n<\/ul>\n<p><b>Pensioner Concession Card<\/b><\/p>\n<p><span style=\"font-weight: 400;\">If you receive the age pension, you\u2019re likely to be eligible for the Pensioner Concession Card, which provides cheaper health care, medicines and other discounts.<\/span><\/p>\n<p><b>Other allowances<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Other government payments may also be available, including:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rent assistance\u00a0\u2013 helps to cover your private rental costs if you receive a payment from the government.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Energy supplement\u00a0\u2013 helps to manage household costs if you receive an eligible government support payment such as the age pension.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Carer allowance \u2013 helps if you provide care to an elderly person or someone with a disability or medical condition.<\/span><\/li>\n<\/ul>\n<p><b>Don\u2019t forget your pension arrangements<\/b><\/p>\n<p><span style=\"font-weight: 400;\">While you\u2019re checking out your eligibility for age-related benefits, it\u2019s worth giving some thought to your retirement income options.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For example, once you turn 60 any lump sum or income from your super, if you\u2019re able to access it, becomes tax free.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">How to structure your finances in retirement can be a minefield, particularly if you haven\u2019t given a great deal of thought to your post-retirement income before.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, if you\u2019re not sure about transition to retirement, annuity or allocated pension\u2014and how they relate to the age pension, contact [a financial advisor] to find out more.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">This article was published by PSK Private Wealth in April this year.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Many of us feel less than excited about getting older, but there are many benefits in reaching a point in your life where you may have significantly more freedom than in previous decades. It may not be so bad to turn 60 and find out what perks await you when you do. The upside to [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":333,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[34,32],"tags":[],"class_list":["post-2514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-community","category-seniors"],"acf":[],"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Kangaroo Valley Voice","distributor_original_site_url":"https:\/\/kangaroovalley.nsw.au\/valleyvoice","push-errors":false,"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/kangaroovalley.nsw.au\/valleyvoice\/wp-json\/wp\/v2\/posts\/2514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kangaroovalley.nsw.au\/valleyvoice\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kangaroovalley.nsw.au\/valleyvoice\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kangaroovalley.nsw.au\/valleyvoice\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/kangaroovalley.nsw.au\/valleyvoice\/wp-json\/wp\/v2\/comments?post=2514"}],"version-history":[{"count":2,"href":"https:\/\/kangaroovalley.nsw.au\/valleyvoice\/wp-json\/wp\/v2\/posts\/2514\/revisions"}],"predecessor-version":[{"id":2516,"href":"https:\/\/kangaroovalley.nsw.au\/valleyvoice\/wp-json\/wp\/v2\/posts\/2514\/revisions\/2516"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kangaroovalley.nsw.au\/valleyvoice\/wp-json\/wp\/v2\/media\/333"}],"wp:attachment":[{"href":"https:\/\/kangaroovalley.nsw.au\/valleyvoice\/wp-json\/wp\/v2\/media?parent=2514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kangaroovalley.nsw.au\/valleyvoice\/wp-json\/wp\/v2\/categories?post=2514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kangaroovalley.nsw.au\/valleyvoice\/wp-json\/wp\/v2\/tags?post=2514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}