How much to spend/ how much to keep in case of care costs?

[Deleted User]

Personally I am not nor sure why so many people overworry about care costs and delay retirement to ensure they have 'enough' to cover them.

Having done some research, just 4% of over 65s are in a care home, this rises to 15% over the age of 85, 40% of that 15% suffering from dementia. Average length of stay is 19 months. Therfore the majority of people will not move into a care home.

Of course, for those families of those who require care it can be an anxious time. That I understand. But you need to keep a sense of perspective.

I dont have large resources at all. However, should I need care in later life my state pension and db pension will cover a lot of the cost. Then the house can be sold to top up. Luckily, I come from a family that tends to care for its older relatives. (My grandmother lived to 102 and stayed with my mother amd myself in late old age) Luckily she was quite healthy for most of her life and only became frail during the last couple of years of her life. She used her pension and limited resources to buy in help when it was needed which was more more cost effective and allowed her to stay with the family.

I know not everyone is in the same position. I do sometimes worry though that some families are more concerned about the impact of care costs on their inheritances. That is something I cannot relate too at all.

KxMx

Don't be so sure the state will look after you, a friend has poa for her grandparent with worsening dementia and they need residential care.

Grandparent lives in a rented house with no savings (all spent while in early stages of illness), pension income insufficient to self fund. 
Social services have thus far held out, looking to the children and then the grandchildren to take financial responsibility. Tried to argue a child in-law should fund the residential care because they have a business in their sole name.

Now that the Police welfare team are involved (the grandparent has got to the point of forgetting their pendant alarm so it's 999 they use frequently) friend is hoping something will finally be done and grandparent gets the help they need and deserve.