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Elderly parents

How do people afford live in carers or care homes?

29 replies

GreenApples1977 · 20/11/2021 23:25

My father is in his 90's and from being relatively independent he has suddenly become quite frail...looking at the costs involved with care how on earth do people manage the high costs? He is comfortable but not rich and his pension won't cover care and maintenance of his house and living costs. Any advice appreciated!

OP posts:
MurielSpriggs · 20/11/2021 23:38

We've sold relative's house (might easily live another five years at least) and put all the money into high-yielding investment trusts (around 5%). That, together with pensions and attendance allowance pretty much covers the care-home fees.

Mantlemoose · 20/11/2021 23:32

Care homes you use all your savings then sell your house to keep paying. When the money runs out (1/4 million in aunts case and £80k grans case), the government pay.

BluebellsGreenbells · 20/11/2021 23:31

Rent out the house and make up the short fall, or see if they can get help via social services.

Scarby9 · 20/11/2021 23:30

Basically, they use every penny (savings and property) until it runs out.
It is a lot of money.

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