Why don’t people save for care in their old age?
My stepmother passed away last summer; my father had died some fifteen years before. They were both a good age, he made it to 81, she to 89. They’d had a good retirement in their bungalow together, travelling around Europe quite widely, enjoying a good standard of living funded by their pensions which, including their state pensions, were perhaps providing them with combined income of around £40K. I didn’t know details of their income, or outgoings, when they were alive. People don’t talk about money; many, I believe, don’t even think about it in quite the way they should. *** Viv and I have a number of spreadsheets which document our possible finances in a number of differing scenarios. We know what our pension can pay for now; we also, perhaps, are lucky that we don’t have to buy annuities to use them, and can plan to have the amounts of money that we might need at a time in our lives that we might need it. One of the scenarios we’ve considered is that I die in my seventies, leavin