Later Life Planning

Most people hope for a long and happy life, and by planning ahead, we’ll help you make sure that future living and healthcare costs can be met.

Today’s longer lifespans are a result of improved medical care, healthier diets and more active lifestyles – all of which means that, on average, old age can last longer than for previous generations.

There are many benefits to this longevity, but increased life expectancy also brings with it a variety of financial implications. At the most basic level, our money simply needs to last longer, but if we require more intensive care, the costs can increase dramatically.

According to recent figures, the average cost of residential care in the UK is over £32,000 each year, although this rises to around £44,500 where there’s also a need for nursing care*. With the average stay in a UK care home being around three years, it’s clear that the total cost can be substantial*.

Planning ahead to meet your financial needs across the whole of your life is therefore important, and we can help you take this step. With long-term care planning also available, we can help put your mind at rest.

We offer access to the St. James’s Place later life planning scheme – a comprehensive service that encompasses inheritance tax planning and securing an income to help cover long-term care costs. From looking after your estate to safeguarding against future events, we’ll guide you through all the planning and protection you might need.

The value of investments can fall as well as rise. You may get back less than the amount you initially invest. If the income you withdraw is greater than the plan’s growth, your capital will be eroded.

*Source: Laing & Buisson Report 2017/18