Now we are in trouble for hoarding our money not spending it.

I work in a care home and it is terrible to see the state of some of these poor people with mainly dementia, it is a good home with very caring staff and it upsets us greatly to see the distress these people get in, not all of them but most of them are very confused and it is very sad. I personally I’m like flexible friend and have a stash of m** to help me on my way should the time come. The main reason for this is I do not want my house sold, For funding from me to “live”in a home for me to live a life that isn’t really a life for most people with dementia and my son would then not have a home. As I say I do love my job I am 66 and have worked in care for the last 10 years and it is one of the most rewarding jobs I have ever done but also one of the most thankless (from the managers and owners not the residents and families) I am afraid we do pay the price for living to the great ages we do these days, when people had their threescore years and 10 you heard very little about dementia, very sad. And don’t get me started on the fact that people do have to sell their homes to pay for care it is a total travesty As most people have worked their whole lives to have their home and something to leave to their children ?

As you say sodapop damned if we do and damned if we don't.

No savings. Husband died. Now have to pay rent and ct. Didnt while dh alive. Lost all his pensions and then have to find more money. Got a ccj last week for ct. Am paying rent. Cant wait to fall off the perch and then no money worries

Exactly Jed, exactly, only not just Brexit, No Deal Brexit is what they want.

I dont want more 'stuff'. I've always been careful with money as it doesn't grow on trees. I'm a role model for Prudence!
I'd like to think I could pay my own way if care should be needed and I don't want to be a burden on the state or my children. My carefully hoarded savings give me a bit of peace of mind but also let me have the occasional treat or holiday.

One rule for them and another for us only we can't afford to stash it in tax havens like they do. Hence the rush to "GET BREXIT DONE!" before the new laws against tax havens will apply.

The Times may well be right - but bearing in mind the huge amount of state AND private debt in this country, it does seem a bit short-sighted to me to tell people to spend rather than save. All the more so when their money has lost value post the Referendum, and could lose still more post-Brexit. Plus we may well be taxed more - directly or indirectly - to pay for the Big Spenders who may be our next Government.

You're not a hoarder - you're a saver. And well done you, I'd say.

Just my view.

You're very lucky if you've got money to hoard. Some of us haven't a bean.

I did just what you said Hetty58 and helped my family without a second thought about my own future.
When my youngest D did agency work for BUPA, Some of the tales that she used to tell made me want to jump over the sea-wall if I became incapable.

The strict regime of handing out just 3 pads during the night caused a row with my D and the one in charge. These people were paying £600 a week years ago and as my D had said were " swimming " out of their beds by morning.
She was treated shabbily because she cared !!

A wonderful nurse and carer, my D left, disgusted, into a job that doesn't involve nonsense, just common sense.

My flat has everything I need to remain independent as independency is encouraged in every way and help is available, shopping/cleaning, should it be required------wouldn't break the bank either.

It's safe, secure and I have an emergency link in case of illness/accident which gives a direct line to the emergency services.

My own front door, in fact my home without the hassle of owning it. I'm happy, the family are happy ( relieved too I'm sure ) and I wouldn't dream of becoming a burden. My D's are secure for their futures for which I'll never have the worry of.
Which is why I offloaded my money/property to them years ago. I have enough to live comfortably. I don't need anything but food and to pay bills.

Apricity-how sensible you are! We’ve done/are doing all the above and hope to be able to remain in our accessible home, like we’ve seen neighbours do even with wheelchairs and very poor mobility. Am intrigued to know what M* is Flexiblefriend! I would want a store of something swift available if necessary!

At our age very few of us need more stuff so of course we are 'hoarding' (aka saving) money in anticipation of needing to pay for assorted services and supports in our frailer years. I would consider that to be responsible behaviour not selfish behaviour. What a ridiculous and ill informed suggestion that we all go off on a wild spending spree just to buy more stuff with most of it ending up as landfill! We would be creating more problems for future generations not opportunities.

In Australia we have recently had a Royal Commission into residential aged care. The findings have been horrific and shocking - grossly understaffed, appalling food, lack of care, neglect and outright abuse to name a few. Profit before care has been a major theme.

Not surprisingly very few people really want to live in a residential aged care facility and it is possible to delay or avoid that outcome with some forethought, planning and spending some of those hoarded funds. Many older people are reluctant to think about these issues -including members of my own family and I have spent years sorting out the consequent problems. I won't inflict that burden on my children and grandchildren.

Consider things such as ensuring there is a bedroom (or room that could be used as a bedroom) and a bathroom with an accessible shower (not over a bath) on the ground floor.

How would your house/flat/unit work if you needed to use a frame or wheelchair. Think of steps, floor level changes, front and back access and manoevering around the house. Do you need to declutter and clear pathways?

Look critically at your kitchen. How would it work or could it be changed without a major renovation. With so many supermarket home delivery and preprepared meal options these days food should be relatively simple.

Consider a personal alarm and who you would list to respond in an emergency such as a fall.

Make sure all your paperwork is done and up to date and the relevant people know where it is stored. Eg. Wills and Powers of Attorney, property title documents, funeral arrangements etc. Have you discussed your wishes with family and/or friends and your thoughts about end of life care. Do you want to be resuscitated if you are in hospital?

None of us get out of this alive. ?

MOnica, did you ever visit at night/late evening/early morning, when many elderly people are wide awake - yet there is no minimum staffing? My mum was in three luxury homes in a year. All were totally inadequate. Like FlexibleFriend, I'd rather top myself!

It isn't in my nature to be a spendthrift. Much as I think of the future and try to be prudent, I do try and enjoy life in the present. If required, I would assist my children.

Hetty It is a question of control. If you are relient on your LA they decide when and where you go. For over 30 years I had a friend or family members in care homes, whom I visited regularly. For two of them I was the responsible relative. I saw every kind of care from good to bad and the worst care was provided by LAs. For the simple reason, that their main criteria was price.

For those who could fund themselves, wehad choice as to when they went into care and where. None of the self funding had cash to waste, but we were able to visit homes, choose the one we thought was most suitable and most liked. Things we checked were staffing and turnover. We never regretted our decisions they were very well looked after. One relation was in care for 6 years.

Why do you even give credence to such nonsense?

Just ignore it.

They can sod off. I need to save for my retirement. I'm not spending a penny that I can avoid spending!

I already spend my money rather than hoarding it, I keep my house and it's contents up to date and in tip top condition. Which makes my surroundings more comfortable and pleasant to live in. Personally I always thought it was our money and up to us how we spend it. I do buy make up once in a blue moon as it last ages, not so keen on meals out as it's always a bit of a letdown and a faff in a wheelchair. So when I spend it tends to be in thousands rather than 50 quid here and there and I'm really not interested in supporting endless coffee shops. I'm not going to need a care home as I have a stash of M*** for when that time comes, because I'd rather top myself than live in a care home.

Ha ! Hoarding what money, exactly? Not everyone has big pensions and equity worth a small fortune. It’s a fallacy that pensioners are all comfortably well off. Fair enough you can get a bus pass and a fuel allowance but a house costs the same to heat just the same as if there was 10 in it. Food costs the same. A family can buy a sack of potatoes to last a fortnight cheaply. A single person couldn’t eat them before they went bad. So single person buys a bag at nearly the same price and doesn’t get the value.
Manufacturing is dead here. Some firms that make beds are always being prosecuted for using cheap slave labour from Eastern Europe.

I disagree that being self-financing means better care. You may have a nicer room in a better building, perhaps, with more choice, but the standards of the care itself seem very variable across the sector. Private care and nursing homes are inevitably short staffed and underfunded too.

I chose to help my children and grandchildren now (rather than in, maybe, thirty years) as they need decent homes now, not when elderly themselves. I'm gambling that I won't need care, or, if I do, not for long. It would break my heart to see all of my money spent on care when I'd rather my children had the benefit.

Those needing long term care will probably not remain self-funding for very long anyway. Luxury care homes in this area (Greater London) cost upwards of £70,000 per year!

...and they wonder why we 'hoard'!!

You are going to have to go some if you live as long as my mother.

If you check in at 80 and are still alive at 100 that’s roughly some what over £1million. That is not counting for inflation and assuming your partner is still living in your property.

Our economy currently relies on consumption not production. As older people are perceived to have more disposable income so they could keep the economy growing.

I’ll spend or save what income I have on those things that are important to me and my family. Not so long ago we were being told how much debt we had and how bad this was.

TBH, they have a cheek telling us how to spend what money we have or don’t have.

We need more manufacturing and adequately paid jobs in this country so our economy does not rely on consumption and young people have a future.

Reducing global warming needs less consumption not more.

Agree with you!

Seems our age group is damned if we do and damned if we don't MOnica