Baby boomer dilemma

Many believe the baby boomers are not only well off (own their home, have retirement savings) and can also dip into government coffers if needed and feel financially secure. However, this is not necessarily the case.

One difficult dilemma for boomers is whether to help the kids get into the property market, as once we have handed over our hard-earned savings we might be depriving ourselves of decent aged care down the track because of the exorbitant bonds and fees charged by commercial providers. Not to mention the restrictions placed on handing over said money to the kids before moving into care (even if not on a pension) when assigning your assets for fees.