100% this. As I said the other day most people wont have anywhere near enough money in their pot to allocate anything to future care anyway. Some lasses where I worked were retiring with about £70k in their pots, that wouldn't even get them a year in some places.
All places,
Like all phrases there's some logic in most of them
I mentioned earlier ,lots of people just relate it to being old
I'd agree with this. However one thing I'd probably think about is where you live in the years before that. So many people leave it too late to downsize or find somewhere suitable for an old person to live in, and end up staying in a house that is unfit for an old person to live in. That can even then lead to increasing the need for a care home or bringing that age forward.
My MiL was minted and ended up in what looked like a great care home. She made friends there but something felt off, then we noticed some of the clothes she was wearing weren't her own and other people were wearing her clothes. It turned out staff were doing the laundry and if they couldn't remember which clothes belonged to which person they were just guessing and handing them out. The place had an outbreak of Legionaires disease which was covered up and all the residents were moved to different care homes and it never reopened. My MiL lasted two weeks in the new home but cut off from the friends she'd made and confused she just gave up on life and died. But not before the care homes had all her cash.
That'll be me. I'm still thinking of ways to future proof my outgoings, more solar panels, EV and getting a charger fitted, heat pumps although that will never happen after reading too many reports on how inefficient they are. And I know I'll be selling up and moving back up north once it's all done so I'll never get the benefit.
We've had a few of our family old folks in care homes in recent years. The standards are a bit variable and things like clothes getting mixed up, rooms not being cleaned or tidied properly, medical care being hit and miss, seem to happen most places. In their defence they are stretched and often understaffed, and struggling to keep on top of things, despite the astronomical costs. Often needs a family member going in regularly to keep on top of things to make sure your loved one gets everything they need to the right standard. I wouldn't call it neglect (in most cases), but it is definitely frustrating to see.
Touchy type of person then. Maybe a bit sensitive. Look too deep at things and maybe a bit paranoid. Anti-depressants ?
Care home life is thread on its own.Don't want to drag this thread off topic, but this "nicer care home" is something I can't get my head around. From what I saw when my Dad was poorly all the care homes seemed the same, I certainly never saw or heard homes being nicer than others.
Back on topic. IMO unless you have a massive pot I don't think you can have money sort of put away in case you need to go into a care home, I know I haven't. Say you needed 2 years in a care home you'll be looking at around £130k (less your SP) There'll be people retiring who wont even have that in their pot when they pack in.
I'm not convinced you have a great choice, as I said around Chester le Street all the homes seemed much of a muchness. I know of someone who has gone into an "upmarket home" which seemed great at first but now seems just the same standard as every other home and they are paying an absolute fortune
I replied to your comment about people justifying mistakes and not thinking about retirement . Planning isn't a waste ,over planning is . Its just balance .The phrases are used more generally for people spending too much time thinking about the future rather than the now and they arent necessarily based in money terms . Me and my mates say Get it spent to each other now because we still have that mindset of rain day saving .
Exactly this, but some people think it's great to have a huge house as a bit of a status, and that's fine if that's what you want.
Perhaps, but there are other options (like apartments). It's a bit of a British obsession to live in a house with your own front door and probably a garden (and to see it as a status symbol). Old (and young) people across Europe, for instance, are happy living in apartments with lifts that require much less maintenance than a bungalow and are a often a far more sensible and manageable option.
No chance I’d move to somewhere without a bit of outdoor space. Even when I’m too old to cut the grass, it doesn’t cost much to get it mowed. Or get the grandkids to do it.
