Thursday, June 17, 2021

Tag: Aged care

Generation Share: why more older Australians are living in share houses

An increasing number of older Australians are living in share housing. A relatively new group to emerge on the share-housing scene, they are choosing to share for financial reasons, but finding unexpected social benefits.

Share housing has traditionally been associated with student housing and media depictions of the share house as dysfunctional, chaotic, “He Died with a Falafel in His Hand” scenarios. But a growing number of older people are sharing housing.

This trend is part of the growth in share housing across an increasingly broad demographic as professionals aged in their 30s, 40s and onwards continue to share house or return to share housing into later life. Generation Rent is fast becoming “Generation Share”.

Discover the full article on The Conversation.

How can we prevent financial abuse of the elderly?

Throughout Australia older people are losing their savings, property and homes through financial abuse, usually at the hands of persons close to them such as an adult child or grandchild.

A sense of entitlement, ‘Inheritance impatience’ or opportunism can encourage people to ‘help themselves’ to an older person’s assets.

Elder abuse is not a new problem. It has been occurring in Australia and elsewhere for generations – but its only now that serious steps are being taken to address it.

While the extent of elder abuse in Australia is unknown, conservative estimates suggest at least 9% of older Australians suffer from financial abuse. However, we know that because of the hidden nature of the problem, the majority of cases go unreported.

Sadly, a majority of elder financial abuse occurs within families, and is defined as the illegal or improper use of a person’s finances or property by another person with whom they have a relationship implying trust.

Read the original article on The Conversation website.