Who Is Going To Look After You In Your Later Years (If Need Be)

[Annie Bynnol]

14 hours ago, Draggletail said:

Unfortunately, not everyone has accrued savings, or has a private pension, through no fault of their own, just life circumstances.

I'd hope that people could feel some sense of responsibility toward their parents, and compassion.  

 

     Very true and for those who had no choice then that is what the welfare state is for.

 

     The vast majority do have a choice but for decades many don't put the need to have future provision at a high enough priority and hoping that someone else will organise and pay. 

     However even on this thread we have people saying that they have no plans except to rely on their children. Of course many children will support their parents, but we don't know what level of care we will require and to 'lock in' our children into an emotional contract is wrong in so many ways.

     I repeat as this thread is dealing with the future decisions on care is in our hands, the State has already provided a requirement for a Private/Second Pension on top of the State Pension. There is a massive 'bubble' of older people sitting on unearned assets which will be inherited by their children(now 35+)- after that each and every generation will really be in the s***.

     We know that the demographic means that there will be far fewer 'family' carers around for older and longer living relatives and the crunch being that the majority of these family carers will be 70+.

 

     Successive Governments including this one are ignoring the huge financial burden being passed on to the following generations because decisions(that will lose them votes) are not being made. We need to secure our own future and not rely depend on others.

[cressida]

I agree,  many people are hopeless at dealing with money matters and rely on the state,  also,  there are those whose mental capacities deteriorate

in later life,  and have no-one to help them.  It maybe advantageous for them to deal with these eventualities in their 50s or 60s.