FT Adviser uses LaingBuisson data in retirement planning feature
Nobody likes to think of the prospect of requiring regular healthcare assistance in later life, yet the cost of care can be substantial if one has not prepared for it.
The average cost of a being in a care home varies from area to area, but averages to £29,250 a year for residential costs, rising to more than £39,300 if nursing is required, according to healthcare specialist LaingBuisson Care of Older People UK market report 2014/15.
Home care cost also varies, depending on location but also the level of care an individual requires. The Money Advice Service said individuals should allow an average of around £11,000 a year if they have a carer for 14 hours a week. It adds that the cost for full-time day care starts at £30,000, but that figure can escalate to more that £150,000 if a helper needs to move in and provide round-the-clock assistance.
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