We are all living longer and for some, the years in retirement are like one long holiday! But many of us may find ourselves needing care as we struggle to tackle everyday tasks. Or maybe you have a loved one you need to look after; it might be a parent, partner, friend or other family member. Whoever it is, accessing care can be a confusing and costly experience.
About 40% of residents fund themselves and the latest official figures (from 2016) show that the average cost for a self-funding place in a care home is £44,000 a year.
A survey of Which? members showed that more than a third of people self-funding their care were worried about running out of money.
Even amongst those who receive local authority funding, a quarter have to pay ‘top up’ fees.
Often the issue of funding comes up when the person needing care may be in a vulnerable position themselves.
So just how can you mitigate against the costs and complications of care for yourself or a loved one?
There are ways you can make life a bit easier with a bit of planning, but there is certainly no ‘one size fits all’ approach.
At Future Life Wealth Management, our financial planners can discuss what works best for you, taking your unique circumstances into account.
We are proud to say our staff are trained to offer dementia-friendly financial advice, with training provided by the Alzheimer’s Society’s Dementia Friends programme.
So whatever stage you or your loved ones are at, we can help. Please get in touch with our wealth management team for an initial discussion on 01246 435 996 or contact us.
Future Life Wealth
54 Ravenshorn Way,
Renishaw, Sheffield S21 3WY
+44 (0) 1246 435 996
Monday - Friday 8.30am - 5.00pm
Future Life Wealth Management Ltd is authorised and regulated by the Financial Conduct Authority
The Financial Conduct Authority does not regulate taxation & trust advice
We are entered on the The Financial Conduct Register No 509960 at www.fca.org.uk/register
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Registered in England No. 07036892 Reg. Address: Future House, 54 Ravenshorn Way, Renishaw, Sheffield S21 3WY
The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
The value of your investment can go down as well as up and you may not get back the full amount invested.
Your home is at risk if you do not keep up with your mortgage repayments.
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