The markets continue to “climb a wall of worry” to borrow from Warren buffet. While Global shares contributed more growth to portfolios last year, Australian shares seem to be contributing more this year. It is another reminder to stay diversified – as no one knows when the baton will be passed from one asset type to another.

Big news out of Canberra in September was the Aged Care Funding reforms. Both parties have recognised that unless the sector receives more funding, it won’t be sustainable – at just the period in our history when we will have more people needing aged care. Most of the reforms are due to start on 1 July 2025. People who are in residential care before that date will pay fees according to the current model: so people deciding whether to enter residential aged care might be better off entering before that date. For entrants from 1 July 2025, the new fee model will mean paying higher fees for more people.

Home Care fees will also increase. For those receiving Home Care or on a waiting list before 12 Sept, 2025, there is a principle of being ‘no worse off’ – costs to them won’t increase. But for those starting their home care journey now, they will pay a greater contribution to their cost of care. There are still quite a few details to be released by the government for both home and residential care.

Articles this month discuss inflation and interest rates, tenancy laws and the joys and challenges of parenthood – amongst others.

Wishing you health and happiness.

Tom

at Financial Springs