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Earlier this year we published some research that looked at people's attitudes to later
life care, now this means for us, the period beyond when you've retired and you're starting
to think about long term care or long term illness. What the research said, was that
almost a third of people don't know how they are going to fund their later life care costs.
We asked people, what age they thought you needed to be to start planning for your later
life care costs and what they came back, what the results came back and told us was around
37 was the age when you should really start thinking about later life planning. Now clearly
that shows people recognize, you have to start early, it's something we should all start
thinking about and preparing for.
Nearly half the people that we spoke to recognize and want to make those decisions about how
they'll fund their later life care early so they've got that peace of mind from having
a plan in place.
The answers we had back from people who haven't started thinking about long term planning,
the reasons they gave us included, they simply, they don't want to think about it, it is a
difficult subject to confront after all. Or we had people telling us they haven't had
time, they just simply haven't had the time to start planning and thinking about this
stage of their life. Or we had people say to us, their financial planning priorities
are short term, they don't want to focus on later life.
It is a difficult subject to talk about, later life can be uncomfortable to discuss, but
as we all grow older and more of us grow older it's something we need to take time out and
think about how we're going to plan, how we're going to research to get the best information
so we're ready for funding that period of our lives.