A charitable foundation has been launched to investigate new models of funding the accommodation, care and financial needs of older Australians.

Aviiid Third-age Living (A3L) aims to develop a new stream of investment in the aged care and retirement village sectors.

The company ‘s name is a combination of ‘avid’, with its connotations of
enthusiasm, energy and commitment, and the French term, ‘troisième âge’, which embraces the concept of ‘lifelong learning, self-development and fulfilment’.

“The European idea of transitioning as we get older into a vibrant ‘third age’ is all about having a healthy, engaged mind and sustained vitality, independence and physical well-being,” said Aviiid’s managing director, Scott Michael Marinchek.

“Our own idea of ‘Third-age Living’ extends this philosophy to encouraging greater, rather than fewer, choices in life, which is exactly what Aviiid seeks to enhance through its investment and related activities.”

Mr Marinchek said he had been working on plans for the launch of A3L with advisers and commercial partners for over a year.

“Aviiid is working to fulfill a broader vision that we have been moving toward for some time,” he said.

“Our investment model and philosophy directly address perceived gaps in the national conundrum of how the working age segment of the population can fund the needs of an ever growing older segment of the population.

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