Understanding the financial impact of long-term care


This 711-word article considers the financial impact of providing care to elderly relatives, based on new research from Fidelity International. Written on 12th August 2019.

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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.