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Retired Well

It’s official, we are all living longer. In fact, a report from Public Health England has shown that men reaching the age of 65 can now, on average, be expected to live a further 19 years, against 21 years for women. However, the same report raises concerns that those living longer may not always be doing so in the best of health and that people should be doing more to prepare for a longer life. In releasing the report, Prof John Newton of Public Health England said “This report is an opportunity to remind people that, even during mid-life, it is not too late to improve your health.”

Interestingly, although the over 65 population is increasing, a recent Age UK report revealed that the number of those residing in care homes has remained largely static since 2001; indicating that more people are able to live independent lives in their old age. However, there are still some 405,000 people who are dependent on care homes either funded by the state or by private means.

As it seems to be the season for releasing reports, Citizens Advice has also released the results of a survey which revealed that on average across England care home fees rose by £900 in the last financial year with 8% of care homes only giving one week’s notice of price rises. Following on from the report, Citizens Advice has called on the Competition and Markets Authority to investigate whether the care home market is working well for those who are using its services, in particular looking at the way in which price rises are announced and the, sometimes hidden, cost of providing extra services.

If you’re looking to create an investment portfolio to meet care home funding requirements, or if your situation has changed and you may therefore need to review your existing portfolio, contact Beckworth by using one of the links on our website.