Paying £30,000 a year for care is something we should all care about
One in five people are likely to require long term residential care. According to the latest survey of 66 councils in England, last year 70,000 homes were sold to pay for residential or nursing care. The average weekly price of a care home is £600 so any nest eggs people have are quickly eaten up.
Meeting the cost of residential and nursing care in old age is a growing issue for many people in the UK. As life expectancy continues to lengthen, more of us can expect to require some form of long term care.
While the State can help with some costs, eligibility for help is limited and many people find the value of their income and/or assets take them over the threshold for that State support -so it is important to understand the range of financial options available to you. Speak to one of our specialist advisers to see how this may affect you or your family in the future.