Budgeting for Later Life Care – The Expats Guide
Later life care is important to factor into your retirement planning, whether you’d like to guarantee first-class support for your relatives or ensure your retirement needs will be taken care of. In many cases, care costs are forgotten in retirement planning, with potentially grave consequences, the ideal being that you’d never need to use your contingency budget. With average nursing home fees in the UK reaching just under £1,000 per month and up to £2,400 a week for the most sought after private facilities, it’s an important consideration. Those costs may look very different in an overseas country, or there may be no state provision at all, making the need to prepare even more vital for British expatriates. Exceptional home care, custom support and private medical treatment could increase that budget many times over. Let’s look at some options to consider including in your latter life strategy and some factors that will help support your long term financial securi