Busting 4 common myths about retirement living

Common myths about retirement living can create confusion about financial contracts and don’t reflect what life is really like when you move into a village.

This article separates fact from fiction.

Myth # 1: Moving into retirement living will encourage me to slow down

Loneliness is a notable problem for older Australians, with one in five estimated to experience social isolation. However, life in a retirement village is specifically designed to counter social isolation, instead fostering a sense of belonging and community. Research has shown that connecting through planned activities, experiences and everyday interactions has a positive effect on residents’ health and wellbeing.

ACH Group offers a robust social program in retirement living communities for residents to engage in if they wish. These social experiences include information sessions, coffee catch-ups,
art classes, afternoons of barefoot bowls, and Neighbour Day and Christmas functions. There are also many resident-led activities such as pizza and quiz nights, bingo, and charity fundraisers.

Myth #2: Retirement living is not a good investment

Retirement living is not only a lifestyle choice but can also be a smart financial decision. ACH Group provides flexible contract options that allow you to tailor your financial arrangement to your specific circumstances. These contracts differ in terms of the upfront payment and the refund you receive at the end of your lease. 

In some instances, you may also be entitled to rent assistance through Centrelink which goes towards your Service Fees covering charges like repairs and maintenance to the unit, council and water rates, and building insurance.

Myth #3: Downsizing is too hard

Whilst downsizing and moving can be challenging, it can also be a very liberating experience. Delaying the decision can make it more difficult and as you get older you may have less control in the process and decision-making. Taking the step to downsize earlier can provide you with greater control and a fresh start.

Myth #4: I’ll lose my local connections

There are retirement living villages across South Australia with different pricing options enabling you to stay close to your current location and all the things you love about your community. Furthermore, retirement living doesn’t necessarily mean you have to retire completely; many residents continue to engage in paid work or part-time roles.

ACH Group can also assist in connecting you with local supports and services ensuring you remain connected to your community and maintain your local ties.