24% of people who self-fund their care home fees run out of money and fall back on State support.
You might be forgiven for thinking, ‘if I run out of money the state will pay for everything’. Local authorities have a legal responsibility to provide financial support if your assets and income fall below certain thresholds, but it’s important to be aware of the implications.
In this video I will explain what happens if you’re in care and you run out of money to pay the fees.
Check out my other videos in this series:
How the UK Care System Works - [ Ссылка ]...
To find out more about the types of social care available and how much they cost, watch this video: [ Ссылка ]
Watch my video on choosing the right kind of care for you here: [ Ссылка ]
Watch my video on how to choose the right care provider for you here: [ Ссылка ]
To find out what state benefits you might be entitled to, watch my video: [ Ссылка ]
For information about care in the community, watch this video: [ Ссылка ]
And to find out more about paying for care as a self-funder, watch here: [ Ссылка ]
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If you're planning your retirement and want to make the best use of your wealth to provide for your family throughout retirement and beyond, or work out how best to pay for a loved one’s care, I may be able to help you.
As a Chartered Financial Planner at boutique retirement planning practice, MFP Wealth Management, I help successful people retire with complete financial confidence.
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This video is for information and entertainment only. Nothing on this channel constitutes financial advice. Please do not make any decisions based on the contents of my videos; seek professional independent financial advice first!
