As an elderly person (or family member with responsibility for an elderly relative) you are likely to need the peace of mind that you are not about to run out of money. You will want to be able to understand your finances and be reassured that you can cover your living expenses, have money for a rainy day and can pay for your accommodation.
Despite, in many cases, saving carefully for retirement and having access to good quality pension schemes, there may well be some financial difficulties in old age. Care home bills could wipe out your lifetime savings and investments if not planned for carefully. For the time being at least, traditional rules still apply and often women can be left impoverished by the death of a spouse. Equally, many people have relied on previous assumptions of savings rates and have been left vulnerable by the policy response to the credit crisis of 2008 and low interest rates that have prevailed since.
At Time Financial Planning Limited, we understand that our clients have a huge range of different backgrounds and interests, and will have led a variety of working lives. That said, your concerns and values will have some overriding issues in common.
