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The Elephant In The Room Property Podcast | Inside Australian Real EstateWe talk about the things no one wants to talk about in the Property Market Author: Chris Bates
Who's really in control when you buy a property? The Elephant In The Room is where the things that no one wants to talk about, actually get talked about. Veronica Morgan, real estate agent, buyers agent and co-host of Foxtels Location Location Location Australia & Chris Bates, financial planner, mortgage broker and wealth coach have joined forces to find out whats really going on in the world of real estate. Veronica and Chris talk to property owners and buyers every day in their respective lines of business. Theyve observed a wide spectrum of confidence in peoples decision making ability when buying and selling property, often to the detriment of the individuals concerned. They are both fascinated by consumer behaviour and together theyre going to uncover whos really making the decisions when you buy a property. In each episode they get into the psyche of buyers, agents, auctioneers and other industry experts to learn the truth about how buyers are influenced and why they do the things they do. In every episode youll learn from the mistakes of a property dumbo as well as Chris & Veronicas elephant rider bootcamp training session. The plan? This property podcast has been created to help us all make better property decisions! Language: en Genres: Business, Business News, Investing, News Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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Why Retirement Living Needs Planning Before Retirement Age
Episode 423
Sunday, 8 February, 2026
Most Australians assume they’ll deal with retirement living and aged care when the time comes. The problem? By the time it does, the system has already made many of the decisions for you. In this episode, we unpack why delaying retirement and home care planning is one of the most expensive mistakes people make—not just financially, but emotionally and structurally.Veronica Morgan and Chris Bates are joined by Mitch Hiam, COO of Balance Financial Group, to explain how Australia’s aged care and home care systems really work—and why recent reforms are quietly changing the rules. They explore how “Support at Home,” means testing, maintenance costs, and wait times are pushing retirees into decisions earlier than expected, often under crisis conditions.The conversation challenges deeply held assumptions about staying in the family home, downsizing, retirement villages, and intergenerational living. Mitch breaks down when home care works, when it doesn’t, and why time—not money—is the real currency in preserving choice and independence later in life.This episode is essential listening for Gen X, older Millennials, investors, and anyone with ageing parents, offering a clear warning: if you don’t plan your retirement living early, the system will plan it for you.Episode Highlights00:00 — Introduction to Retirement Living Decisions01:08 — Guest Introduction: Mitch Home from Balance Financial Group01:48 — Challenges Faced by Retired Homeowners04:05 — Importance of Early Planning for Home Care09:07 — Government Policy Changes and Their Impact16:00 — Financial Trade-offs and Family Dynamics24:21 — Granny Flat Agreements and Multigenerational Living26:31 — Inheritance and Financial Planning for Retirees29:52 — Planning for Future Care Needs30:29 — Making Better Property Decisions31:37 — Understanding Retirement Villages40:10 — Costs and Contracts in Retirement Villages52:26 — Final Thoughts and AdviceAbout the GuestMitch Hiam is the Chief Operating Officer of Balance Financial Group, a specialist advisory firm focused on retirement planning, aged care strategy, and later-life financial decision-making. His work sits at the intersection of pensions, home care funding, residential aged care, downsizing, retirement villages, and intergenerational arrangements.Mitch works closely with individuals and families navigating some of the most complex—and emotionally charged—decisions they will ever face. From proactive planning to crisis-driven aged care transitions, he brings frontline insight into how Australia’s systems actually operate, where people get caught out, and which decisions permanently limit future options.Known for his plain-spoken, practical approach, Mitch helps Australians understand the financial reality behind retirement living—so they can make informed decisions early, rather than forced ones later.Connect with MitchMitch’s LinkedInBalance Retirement & Aged Care Specialists’ LinkedInBalance Retirement & Aged Care Specialists’ WebsiteResourcesVisit our website:
