Article preview: One consequence of improved longevity is a rising cost of care in later life. Whether experienced directly or indirectly, long-term care expenses are now a standard feature within the financial plans we construct for our clients. The financial impact of this later life care varies depending on a variety of factors, including the age at which it starts and how long it continues. According to new research, the average cost of caring for an elderly relative is £5,545. This is the financial cost of either lost earnings or money spent directly on care fees.