How to let go of the purse strings

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/81970180#Comment_81970180

It seems to me that whilst we are in the early retirement years, relatively healthy and able to do more, our spending will be higher than in later years when we may be more restricted. We need to make the most of this time while we can I think.

There is always some debate about this, as if/when you get older still, you may have to pay people to do things you now do yourself. Plus as previously mentioned by another poster, private health care can be expensive, but often worth it if you can afford it.

The thought of funding long term residential care is worrying but in our family none of our parents have needed this.

Media scare stories can give you the impression that almost every older person ends up in care/losing their home. However the stats show that most older people never go in a care home, and if they do they are not there long term usually.( Of course it does happen to some of course) Due to these fears, people often are persuaded to get involved with expensive trusts etc, which do not work and cause a lot of expense and hassle down the line.

Vitor

Remaining engaged socially and keeping active can reduce risk of dementia so going on hols etc. may offset the need for care.

Clowance

Unfortunately my MIL with early dementia age 96 has been in care for a year and all her savings have gone (council so slow to take her on that I mean ALL the savings gone) and retirement flat now on the market, we have an offer for half the original purchase price she paid 20 years ago and have accepted to get rid and avoid higher service charges. Council wouldn't let us sell before until she was assessed, which they took about 4 months to get around to. So it does happen, and when it does things don't necessarily go smoothly. They are moving her to a cheaper home soon, even though we picked one that was supposed to take council funded, apparently they are now too expensive. Its a bad situation.

Humboldt

https://forums.moneysavingexpert.com/discussion/comment/81970180#Comment_81970180

It seems to me that whilst we are in the early retirement years, relatively healthy and able to do more, our spending will be higher than in later years when we may be more restricted. We need to make the most of this time while we can I think.

Sometimes referred to as The Retirement Life Cycle: Go Go, Slow Go, and No-Go Years.

Humboldt

https://forums.moneysavingexpert.com/discussion/comment/81971437#Comment_81971437

Hi @Clowance, just wanted to say how sorry I was to read that life is challenging for you and your family at the mo, and that I hope things are resolved soonest.

Savvy_Sue

https://forums.moneysavingexpert.com/discussion/comment/81971437#Comment_81971437

Just wondering, will the sale of mum's flat not then put you back in a situation where she is able to self-fund, even if not for that long? Because if moving her would be very unsettling it is possible to argue that she must not be moved, and I'd be arguing that them taking a long while to assess her has delayed sale of flat therefore interim period should be covered.

I may be grasping at straws, and it may be with early dementia that they argue that moving her would not be too traumatic for her. Do contact AgeUK, dementia organisations etc to investigate this.

Vitor

Get a private health-check every year, shop at M&S, stay at the Hilton, get a cleaner, send laundry out for ironing, get a gardener, take a mid-week city break each month, eat out every week, go on two cruises a year, get a newer car.

GrubbyGirl_2

https://forums.moneysavingexpert.com/discussion/comment/81973004#Comment_81973004

Exactly. I just bought a new car even though my 6 year old only had 29k on the clock. I've seriously debated a cleaner but that just feels lazy. I would definitely do it if I started to struggle

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/81973437#Comment_81973437

Even if you have a cleaner, you still have to do plenty of cleaning and tidying yourself, especially if they only come once a fortnight.

Clowance

https://forums.moneysavingexpert.com/discussion/comment/81972612#Comment_81972612

Hi Sue, thanks for your interest. In fact by the time the flat is sold - if it goes through, the retirement home company have to vet the buyer among other things - the council will have paid nearly as much as its worth (not much) in fees so we wouldnt have the option to let her stay where she is. What I meant by early dementia is that she is lucid about 1/10 of the time, rest away with the fairies poor thing. She has seen the prospective new home and likes its location better so thats good.