Planning for your future care needs

When planning your future, chances are that anticipating what kind of care you will require in your advanced years will be a low priority. There are more important, more pressing considerations which will occupy your time, rather than thinking about whether to choose a residential care home or in home care in your old age. Nevertheless, giving thought to your future care needs should be on the agenda to ensure you have adequate finances in place when the time comes and you receive the sort of care you want; for instance are you looking for the type of person who chooses live in care jobs because they want to provide better one-to-one care?

Factors to consider when planning for care:

- What type of elderly care would you prefer to have? - Are there facilities in your area to give this type of care? - How much would these facilities cost? - Do you qualify for help with funding? - What kind of support could you get from family and friends? - Would you need any specialist medical care?

Check what’s available in your area

A good source of information when looking into your future care needs is your local authority. They can provide you with information and support to help plan your elderly care, as well as details on Independent Financial Advisors who can provide useful knowledge on how to get your finances in the best shape for the years ahead. You can also speak to Citizens Advice, and there are many helpful guides on the internet.

How much will you have to pay?

State funding may be available for people with few or no assets (less than £23,250), but the cost of self-funded care will be one of the biggest financial decisions you have to make. It is never too early to start planning how you will afford your care, and leaving it until you are in need of care may result in decisions being made on your behalf. It is vital that you research thoroughly into what the costs are likely to be, to ensure that you do not run out of funds in the future

Ask for recommendations

Another idea is to speak to your family and friends, to get their views on what they see as being best for you. They might know others who can recommend particular companies or homes that are able to provide the assistance you need. They may also want to offer their help alongside professional care givers. You are unique – make sure your care fits your needs If you have a medical condition or long-term illness, the nursing care you may require in addition to basic home care needs will mean higher costs. Conditions such as dementia, cancer, strokes, palliative care and mobility impairments mean that specialist carers will need to be employed to ensure your requirements are met. Knowing what you can afford and how you will fund it will ensure you can tailor your elderly care to be personal to you. The population of the UK is living longer than ever before, so you may be paying for your care for some time. Knowing that you have put measures in place to achieve this long term financial obligation will mean you have peace of mind in the future.