- Published on 14 Nov 2023
Jasmine's life took an unexpected turn when her mother, Marjory, suffered a stroke, leaving her unable to live independently. Jasmine, a part-time dental student with aspirations of opening her own dental practice, stepped up to care for her mother. While her initial assumption was that this arrangement would have minimal impact on her career plans, the financial and emotional demands of caregiving soon became overwhelming.
The combined expenses of daily living, medical costs, and home modifications strained Jasmine's finances. Her studies suffered as she prioritized her mother's needs, eventually leading to a deferment of her dental degree. The emotional weight of caregiving grew heavier as Marjory's condition deteriorated, forcing Jasmine to relinquish her part-time job to provide full-time care.
Amidst the challenges, Jasmine discovered various government assistance programs, including carer payments, allowances, and the National Disability Insurance Scheme (NDIS), which provided financial relief and access to valuable services. Marjory's doctor also played a supportive role, providing program information and assisting Jasmine with paperwork.
The impact of caregiving extended beyond financial strain. Jasmine's social circle dwindled as she declined invitations, leaving her isolated and yearning for connection. The prospect of returning to university and pursuing her dental dreams seemed to fade away.
Fortunately, Jasmine found solace and guidance through Carer Gateway and Carers Australia, online platforms offering comprehensive resources, support groups, counseling services, and respite programs. These networks emphasized the importance of self-care, urging carers to prioritize their own physical and mental well-being.
With renewed determination, Jasmine embarked on a path of self-discovery. She sought legal advice regarding Powers of Attorney and consulted a financial advisor specializing in estate planning, ensuring peace of mind for both herself and her mother.
Today, Jasmine speaks of a world opening up around her, the silence of caregiving broken by a newfound sense of empowerment. Her journey, while unexpected, has led her to explore new possibilities. She has enrolled in an online dental assistant course, paving the way for her own future, and more importantly, she is daring to dream again.
Why not take the next step and talk to a qualified financial planner?
LifeTime Financial Group are specialist (holding appropriate accreditations) advisors who are ideally positioned to assist you with potentially accessing your financial planning needs.
If you would like to discuss your wider financial planning needs, why not call us today on 03 9596-7733? There is no cost or obligation for our initial conversation/meeting.
Alternatively, please make an appointment using our online Book an appointment (Blue button above)
Why not take the next step and talk to a qualified financial planner?
LifeTime Financial Group are specialist (holding appropriate accreditations) advisors who are ideally positioned to assist you with your SMSF requirements.
If you would like to discuss your wider financial planning needs, why not call us today on 03 9596-7733? There is no cost or obligation for our initial conversation/meeting.
Alternatively, please make an appointment using our online Book an appointment (Blue button above)
LifeTime Financial Group. A leading privately-owned Melbourne-based Financial Planning practice with no ties to any financial institution.