An article in the Express this week highlights that millions of people are not saving enough for old age. The Which? survey found only 12 per cent of people over 55 say they had put money aside to meet future care needs.
During our working life, planning for retirement is often drummed into us but what about the next stage of our life? What about life in our 70's, 80's, 90's and beyond? There are actually nearly 15,000 centenarians in the UK now and this number is only set to increase.
We’re all living much longer so these years could make up a substantial part of life’s journey. We know, according to Home Instead Senior Care research that most people (71%) would prefer to stay in their own community, living at home where they feel the happiest and most comfortable and surrounded by the things they love. But due to our society’s often ‘reactive’ approach to care, it doesn’t always work out that way.
We hope these statistics from Which? encourage more people in the UK to think ahead to their future and start that important conversation with loved ones about how they would like to live their later years. Acknowledging the need to plan financially is that first important step to planning your later life.
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