Did you watch the documentary recently about those living in care homes already were in essence already funding those who are funded by the local authorities?
If your savings are over £23250 you will be expected to contribute towards your care.
How to we really feel about that after all those years we have paid into the system?
Social care is one of the biggest issues we face and how our care will be funded is a worry.
Wages are one of the largest expenses for a Care home and with councils being forced to manage with less money from the government there will be a knock-on effect forcing Care homes to look at ways to down size and maybe that will not be a bad option to consider.
Maybe others will consider living together with a live in carer. All individuals responsible for jobs around the house which would help those avoid isolation, feel less lonely.
Or, the baby boomer generation will start to consider having mum or dad live with them. There will be a cost to this both emotionally and financially and if you choose that option and sell your main home, there is no Capital Gains Tax to pay HM Revenue & Customs on the sale of your own home.
If you are thinking about your future and want to learn more about elderly care, dementia or Alzheimer’s and how it may affect your family and finances visit www.justcallmereg.com or call the principle on 07801 287 213 for a confidential consultation