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.

I would be amazed if they didn't charge extra for corpse storage. It could be the difference between the bronze and the silver package.

(Emails P&O suggestions mailbox).

@Everythingisnumbersnow
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The fantasy/the idea of it is much more exciting than the reality, which will end up with you living out your pension years/elderly years in abject poverty. You will also get bored and tired and stressed with the constant travel/living out of a suitcase. Dreadful idea.

But you know that (hopefully!)

Then healthy part of old age
I agree with draining the pot here, if you hit the heady heights of your 90s you’re much less likely to be fit enough to travel well. No point having a huge disposable pot when you’re frail and sedentary.

And yes, very aware of the needs of old age and care blah blah am currently living that dream with PILs.

Totally up to you but I think it's pretty short-sighted.

When you get to the stage when 'the rest comes after', you will care about your substandard living conditions.

But live where, if you've sold your house? £30K a year isn't a lot if you have to pay rent and bills and years down the line it's going to be worth a lot less than now.

There is a world of difference in what care looks like depending on if it's privately funded or state funded. If state funded, you literally get what you are allocated.

Sounds great, tbh, OP.

I'd love to do similar. Probably not at 60 and definitely not luxury hotels. It's only 10 years away and feels very young but why not?

People are generally too wedded to how things are 'supposed' to be or how things 'should' be done.

If you want to and you can, why not?

I have a friend who spent a lot on holidays every year, crossing the Atlantic in style after travelling all over the world annually. Apparently there are people who live permanently on cruise ships - not the life I'd want, though some do love it.
I remember staying in good hotels when I was a child and seeing elderly people who were permanent residents.
I'd only worry about where the LA would dump me when my money ran out. As @StScholastica says, you'd have no say in the matter at all.

Care home living conditions are often the same for self-funders and council-funded, alike.

Honestly if I didn’t have a child this would be a perfect option. Actually AI or cruises would appeal to me more to travel the world.

the only question is about bank accounts, credit cards, phone, car insurance etc - can you have them without a permanent address or do you have a P.O. Box?

There will always be a care system for those who need it.

@westisbest1982 Oh, you sweet summer child.

This is an incredibly naive thing to say/ think in the world we are currently living in. How on earth do you think this is going to be funded?

Old age is about to become so much more unpleasant for those without wealth.

You dont think "liquidate everything" covered selling residential assets?

But not all care homes are alike, if you pay you choose, some are lovely and some are grim.

I would be very happy to take euthanasia instead but society doesn't want me to have access to it so... Guess I don't feel too bad either way.

As above, if my money was going to a good system where profits were reinvested I would support that. But I have done accountancy for care homes and imo they're disgusting bandits and I don't want to pay for their swimming pools.

We have a friend who is an undertaker and has to deal with deaths that happen on cruise ships and mostly Americans. He organised the shipment of the body of an elderly gentleman back to the US and then spoke to his widow about her getting back. Her reply was to send him back and she will continue on the cruise 😂

If everyone did this the model would have to change

I strongly recommend you read the Somerset Maugham short story The Lotus Eaters. It will make you think (although not necessarily come to a conclusion).

I figured £10 million would be needed - luxury hols etc.😉

O Level Eng. Lit. late 70s ?

Someone I know did this at 55, not even luxury hotels though just sold his house and used the proceeds to rent a flat and not work ever again. About ten years later the money was all gone and he was facing homelessness. Moved in with his kids in the end.

It really, really wouldn't.

You would simply have a lot more elderly people who just don't have care and are not looked after, living out their lives in pain and poverty.

Nothing 'has to' happen at all. Society is deteriorating rapidly.

How old are you @Everythingisnumbersnow

I'm reading this at 57 and think you are bonkers🤣

Disagree. I hate clutter and "stuff". Suitcase living suits me well.

If the basis of your objection is that you resent your money going to 'dodgy offshore business owners', I'm intrigued to know which bohemian community owned co-operatives you think owns the luxury hotel chains.

30k scaled up

It would be quite a lot for a very elderly person (and a buttload more than almost everyone else will get)