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    • TheZoid
    • By TheZoid 6th Jul 18, 11:12 AM
    • 1Posts
    • 0Thanks
    Care Costs Planning & Budgeting
    • #1
    • 6th Jul 18, 11:12 AM
    Care Costs Planning & Budgeting 6th Jul 18 at 11:12 AM
    I'm looking for a tool to help me manage my mothers investments and care costs ?

    We are in the fortunate position that my late father was able to save sufficient funds to cover my mothers care costs for at least the next 10 years (then the house goes . . .). The money is tied up in a range of investments (nearly 30) with varying maturity dates, there are also a number of incomes from pensions etc.

    I'm looking for a tool that will help me plan a savings strategy so that I can reinvestment funds as they mature but not leave myself with no access to money when I need to pay bills ! To get the best savings rates I really need to invest for at least 2-3 years but have to be careful not to tie money up when I need it.

    I've tried to figure out a way of doing it in Excel but couldn't, can anyone suggest a tool to help with this ?
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    • Vortigern
    • By Vortigern 6th Jul 18, 12:11 PM
    • 2,680 Posts
    • 1,840 Thanks
    • #2
    • 6th Jul 18, 12:11 PM
    • #2
    • 6th Jul 18, 12:11 PM
    I can't suggest a tool other than Excel, but you might benefit from a meeting with an adviser from SOLLA - Society of Later Life Advisers.

    The adviser may possibly suggest an immediate needs annuity - essentially you buy an annuity that will cover the care home fees for as long as necessary. They're not cheap, but if your mother enjoys a long life in the care home, you're a winner and you can keep the house.
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