Finance Blog


Perks of Being Old

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No one likes being old. In the words of Rocky Balboa, “Time beats everyone”. It doesn’t matter how strong or how charismatic you were in your heydays, old age will descend upon you one day and that’s a prospect that scares a lot of people.

However, it doesn’t have to be that way. Thanks to all forms of media and various depictions on TV shows and movies, we’ve somehow conjured up this image inside our heads that being old is synonymous with depression and a period filled with dread. It doesn’t have to be that way. There are so many things and perks that make being old sound enticing. The benefits of a seniors card, the free time to do everything you ever wanted and being a valued and treasured member of society.

So, here are just some of the benefits that you can hope to enjoy once you reach the tail end of life:

The FiftyUp Club

This is probably the best part of being old in Australia. The FiftyUp Club has more than 200,000 members spread out across Australia. The benefit of being part of this club is that it entitles you to various lucrative discounts on telecommunications, insurance and other bills. In addition to these, you can also expect a lot of savings on household items, retirement savings as well as other special products.

Think of being part of this club as a way to enjoy life in your mature years in a very inexpensive way. Almost all the items needed by you and your household are available at amazingly low prices for no other reason than your age. If you’re someone that takes saving very seriously, regardless of age, then this is the perfect way for you to live life and save up as much as possible.

Insurance Premiums

In almost all cases, people tend to negate the value of insurance after they reach a certain age. There are a lot of reasons for that i.e. the mortgage has been paid, the children are well-settled on their own and you can really use the money that you’d spend on premiums.

However, there are a lot of insurance options and tools that stipulate that your premiums will go down after you hit the age of 50. It also qualifies you for other types of insurance such as retirement villages and assisted living.

Seniors Card

If you’re someone aged 60 or above in Australia, then you’ll find that the Seniors Card is perhaps the best thing to ever happen to you. It was introduced by the NSW State Government and allows its senior citizens to gain access to incredible discounts on more than 3,500 products and services.

The incredible program is free to join and requires absolutely no declaration of income or assets from your side. The only real requirements are that you be older than 60 and must work for 20 hours of less a week. There are currently around 2 million members enjoying benefits from this scheme.

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