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Would you pass this financial literacy quiz? Many won't – and it's affecting expensive aged care decisions

  • Written by Henry Cutler, Director, Centre for the Health Economy, Macquarie University
Would you pass this financial literacy quiz? Many won't – and it's affecting expensive aged care decisionsShutterstock

Paying for residential aged care accommodation in Australia is complex. Residents can pay a lump sum payment known as a refundable accommodation deposit (RAD), a rental style payment known as a daily combination payment (DAP), or a combination of both.

Deciding between the two is an important, complex financial decision and influenced...

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