Investment advice for Residential Home Fees.

Jake'sGran

Back again. It was on Thursday at 7.30pm.
I have tried over and over to do a link direct to the page detailing the programme in full with no success. You need to Login to read it so you will have to register. Once I was in I just entered the name of the programme (The cost of Caring) and it brought up all the details.

JamesU

Jake'sGran wrote: »

I have tried over and over to do a link direct to the page detailing the programme in full with no success.

Try this. Available on itv player. Can watch it online anytime over the next 3-4 weeks.

http://www.itv.com/itvplayer/video/?Filter=189228

JamesU

pqrdef

Bess09 wrote: »

One option I was given by her bank is to invest the rest is in equities.

Strange advice in the circumstances. Equities go down as well as up, and unfortunately you won't get to choose the time for cashing them in.

dunstonh

pqrdef wrote: »

Strange advice in the circumstances. Equities go down as well as up, and unfortunately you won't get to choose the time for cashing them in.

Bank sales reps usually dont portfolio plan. This can often lead to generally low quality portfolio funds or single sector focused funds being used (with little or no diversification within the sectors).

That said, one option for residential home fees is to invest. There are times when annuities can be best and times when investing can be best. Unfortunately, its usually not clear which option is going to be best until the date of death is known. So, a judgement call needs to be made knowing the pros and cons of each option.

Bess09

Thank you all so much. I have found the programme easily thanks to JamesU and just watched it. Oh dear, so sad. From what I saw my mother wouldn't qualify for NHS funding....yet. I have mentioned this to the manager at her care home before and they agree with me. Apparently there is a woman there in a dreadful state, much worse than Mum, who has been refused. I shall keep it in mind though in case she gets worse and will be interested in what the Government Commission has to report next year. Don't hold out much hope though with this lot.

Bess09

The rest of the money - £70,000, has been invested in an HSBC account at a fixed rate for a year of 3.1%

I'll keep an eye on it, but interest rates are unlikely to rise in the near future.

Many thanks for all your help everyone.

Bess.