To liquidate everything when I get to 60 and live in luxury hotels until the cash runs out

[Everythingisnumbersnow]

Just thinking who wants to be old anyway plus I really resent the idea of all my money going to dodgy offshore small business owners (aka care home owners).

We'll see how it goes but I'm pretty excited about this.

If you think it's a dead concept, then you should go and live on a deserted island alone/with your partner and fully support yourself and not benefit from any positive aspects of society. If you believe this is a dead concept, why are you apparently happy for others to fund you, possibly to the tune of hundreds of thousands in your old age. I thought it was a dead concept a minute ago?

As I said in the post above, no wonder we are in such a mess when so many people have your attitude.

Great- see my slightly later post then and don't expect anyone to pay for you in old age. That would be jolly hypocritical otherwise, wouldn't it.

My mum keeps saying she wants to live in a canal boat home when she retires. I can't see the appeal personally but she likes them.

Indian 5 star hotels offer this. They even arrange reputable carers for you. My cousin's been doing this for her (Indian) parents for ages - her father needs to be hoisted and the big name hotel arranged all the equipment with a top private hospital. They get full time carers, 24-7 nurses, doctor visits most days, the hotel staff help her stepmum go on walks / swimming, and arrange all their meals. Works out to be approx £2k a week.

@BatchCookBabe you accuse people of being offensive quite freely. I think your flippant assumption that people reading Mumsnet own their own home,mortgage paid ,secure pension and good health is potentially pretty offensive to many people who don’t have the above!I am in a good financial position but I work with people who have none of these benefits.
Many people over the age of 70 are taking regular medication,painful joints ,increase in general disease/ infection risk …it’s called getting older 🙄

@TheCountessofFitzdotterel I do agree with this - if you are fit and healthy and have the cash to do so then certainly from mid 60s to late 70s enjoy what you have -there is nothing more frustrating than fit and healthy ( ish) over70s who do nothing but have plenty, appear to be keeping it all for that rainy day - don't help family out if they can , don't go anywhere, let the house drop to bits and then suddenly realise that rainy day is very much here and they've had little enjoyment in recent years - yes your family might enjoy the cash you leave but personally I would rather people spent some having a good time and look after themselves and homes - don't leave yourself in dire straits certainly but don't 'do nothing' - that's why personally I'm pro downsizing in some circumstances or some equity release in others ( beyond 75 ) my 85 year old FIL is a good example- moved house last month from a house with huge garden to a decent 3 bed bungalow in nice town with loads of facilities within 5 mins walk banking around £120k extra in process - and now 12 miles from us rather than 160 - takes us out for. Lunch or a meal a few times a month, helps his 20 something grandson out with car repairs, goes out for meals on his own several times a week - keeps the value of his home intact as inheritance and is doing a few nice but not massive improvements ( about 25k worth) , but spends most of his reasonable income on his family and himself. Has enough in savings to fund maybe 2 years care home immediately or 3 years extra care at home without selling or drawing down -To me that's well balanced planning. And to the poster who said about life not worth living post 75 - he's had a pretty decent time - been away plenty, enjoys pottering about , certainly isn't decrepit- maybe some people are but plenty are not - maybe she would like to say the sane to Clint Eastwood or Robert Redford or Judi Dench etc!!

I would say the same to myself. I don't think being alive is all that great and as soon as I stop being independent I want out.

This reminds me to get my advance directive in order.

@Everythingisnumbersnow

I don't think being alive is all that great

Ok then. I’m out of this convo now - interesting debate but can’t reason with someone who has this view - you and I don’t agree on this point so there’s no common ground here.

I don't really see why you can't say well I think it's great but appreciate it's not objectively fabulous for everyone

Life IS mega hard

Why sook out the dregs

At the max, 24/7 carers assuming £20 p/h would cost £14k per month each. So far cheaper to be in a home if you need full on care

I'm not sure your maths is quite right, OP, and 60 is far too young, but in principle I can see your point.

MN is chock-full, however, of posters who simply cannot envisage why anyone would want a lifestyle even slightly different to the 'norm'. Or why not everyone yearns for a bungalow in the suburbs once retired. God forbid anyone should want anything more from their hard-earned money than just squirrelling it away to pay care home fees.

I didn’t really mean it like that, I am struggling to explain myself really but as I indicated something just felt ‘off’. To be clear I absolutely agree you should be able to choose for yourself.

Oh sorry I forgot to mention the live-in element.

It's quite common in certain countries to have live-in assistance, meaning accommodation is a part of the package. For example Hong Kong.

My ex MIL had a housekeeper live in the house with her own child, so it was full bed and board + salary. She wasn't expected to be on call 24/7 but had certain tasks accounting for approx 40h a week. I think she has that again now that she's getting older and needs more help.

Again, being stupid, but do most elderly need care 24/7? I'd have assumed most circumstances it'll just be things like washing once a day, meals, toilet and a bit of company. Obviously if there's a serius medical condition involved that would be different.

Yes I know. You are the 4th person to point out my mistake.

This sounds like a decent plan… I’d quite like to do similar leaving my kids some money and travelling to beaches in a motorhome with my dogs 🐶

Agree with the not wanting to live any long drawn out illnesses too … I think people should have choice.

Yeah I am always surprised by the absence of live and let live

My mum's neighbour died after tripping over her small dog in her bungalow and honestly that is not how I want to go out

Poor dog also

Invest the £500k at 5% snd you will get £25k PA without touching the capital. And whilst I wouldn't expect interest rates to remain as they are currently - someone who is currently 60 will be getting their state pension at 67. OP who I imagine is not yet anywhere near 60 has also said they have a personal pension of £30k PA.

@Hwi

But one thing I shall never forget, she told me one day she was 'exhausted because she has held an old lady's hand all night because the old dear was on the way 'out'. When I asked why she did not phone the ambulance, she said 'she was on the way out anyway'. I was young and stupid but even then I realised it was not normal for a barely literate lady to decide whether to call the ambulance.

In most cases when someone is very elderly and in a care home there will be a plan in place as to whether or not medical care should be sought. And even if an ambulance has been called and the elderly person has been taken to hospital there will be a time when they are sent home on end of life care - if there is no expectation of recovery then holding the elderly person's hand at the end is the kind thing to do.

@Everythingisnumbersnow I do get where you are coming from but do think there's a balance to be had if fit and well -and I suspect you aren't that old yet or anywhere near!!

I think a good option is to buy ( second hand) or ideally rent a cheapish retirement flat in a decent area- bank any extra cash you have and bugger off as often as you can home and plenty of abroad whilst fit and well enough to enjoy it and can still get sensibly priced travel insurance!!

I remember when I was 7 in 1979, we sated at a hotel where a man was resident there. Intrigued me!

A few if my US colleagues retired to hotels in ‘residences’ but they’re absolutely minted.
I’d be worried about running out of £££££

And many don’t realise how damaging and dark it can be to hear that kind of thing directed at yourself by others, a very dark and damaging kind of gas lighting…

My MIL actually used to close up her uk home from November to march and decanted to a Spanish hotel as it was cheaper than running her house here and she didn’t start doing that until her late seventies, bless her.

It's a bit self obsessed to think other people's preferences should take you into account.