New research jointly prepared by National Seniors Australia and Challenger has revealed that only 14% of older Australians surveyed have prepared financially for their aged care.
The survey by the country’s peak advocacy group for older Australians received more than 5,000 responses by Australians aged 50 and over.
It also revealed that another 38% had thought about aged care costs and that such planning was higher amongst those of a more mature age, higher education and greater wealth.
National Seniors CEO and Director of Research, Professor John McCallum says the figures are alarmingly low for Australians preparing for a comfortable later life.
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