The owner of a care home group paid himself at least £21m in the last 5 years. He holds 100% of the share capital and in addition paid himself £18.6m in dividends.

You never know what's round the corner. Plan for the worst but hope for the best.
However, 'hope' won't find you good carers where and when you need them. It's just not possible to future proof your care needs. I see it time and time again as life and old age trips people up in ways they didn't expect.
By the time someone needs care they've lost their independence anyway or they wouldn't be needing care!

My mum was only in a Care home a short while before she passed away. That was July 20..
Fortunately my sister works for this particular Care Group as a Nurse Manager. So we were happy to let her go, she was fine and happy to go, as we all thought it was the right move.

Amazing place like a Hotel. Very Modern but perfect for the age group.
Private Rooms with large shower. Telephone in each Room.
Any food they fancy, if they don't want the set menu, with Wine if they want it.
X4 Dinning Rooms, a Bistro/ Coffee area, Cinema, Beauty Room and a Bar.
As well as beautiful garden and a raised large terrace over looking a golf course.

Staff to patient ratio was high, I know they are paid well above the average pay for Care Staff, always has a couple of qualified RGN's on each shift. Also specifically appointed staff who kept them mentally occupied.

She was so cared for, Mum thought she was in a Hotel, she was very happy. We knew she wouldn't be around for long, but why not have the best. She was struggling at her flat with just Carers just coming in, and so lonely as Covid put a stop to her social interaction.
It was so perfect for her we had no issues in her using all her money up from the sale of her Bungalow, she still had her flat.
Luckily we got some staff discount but the non reduced cost was just over £6000 per month.
She could have stayed as long as she liked.
Sadly she passed away so only there a short time but we don't regret sending her there.

I know what business people do Dinahmo - I spent my working life acting for them. We don’t know what structure he used, but he can only pay dividends out of company profits and that arouses my suspicion that his own money was involved. We can’t know all the details as it’s a private company.

I do listen to what others say btw - hence my comments.

Germanshepherdsmum

I don’t have to justify myself or my financial situation - but I stand by what I said.

In that case you're not listening to what others on here are saying.

Germanshepherdsmum

Good post Baggs.

I’m not defending the inadequacies of this man’s care homes, but is no consideration given to the costs he incurred in acquiring and setting up the premises - should he not be repaid?

Having worked in the public sector I too have despaired at the waste of public money.

There is great hatred of people who make money in this country and that hatred is much in evidence on GN.

The chances are that he borrowed to either set up the first home or the later ones. That is what people in business do.

I remember several years ago talking to some who wanted to buy a small investment property - ground floor shop and 2 flats above. He expected to pay for the building over 12 year period, from his rents. It's possible that the time scale is longer now, I don't know, but the principle will be the same.

Since he owned the company he will also have owned the buildings, indirectly, assuming that the company bought them. The company will also have taken out the mortgages and would be making the loan repayments.

I do not believe that there is a great hatred of people who make money in this country. There is a dislike, or hatred (if that's what you want to call it) of people who make shedloads of money of the backs of their workers, or in this case, not providing a decent service for those in need.

Of course I read your post fp, don’t be so rude. I may have a catastrophic stroke tonight, rendering me permanently unable to speak or move or do anything for myself. It can happen to anyone at any age, with no warning. How exactly do I plan well ahead for care at home in such a situation?

You could only make a fortune out of care homes by charging enormous fees, paying low wages and managing on a minimum of staff. If you are paying high wages, employ a good number of staff, provide excellent facilities and charge affordable fees you won’t make a fortune.

Fleurpepper

Germanshepherdsmum

You can’t plan well ahead for care at home. It’s impossible.

Sadly volver knows exactly what she’s talking about.

You don't read posts do you?

You can plan ahead to avoid having to go into a care home.

I assume you must have your future carers on a retainer then?
There is absolutely no guarantee there will be any available if and when you need them.

It is however sensible to future proof one’s home if you are financially able to do so.

Easily that 1987. Could I enjoy life in a home knowing how quickly my child’s inheritance was being eaten up? No way.

Germanshepherdsmum

You can’t plan well ahead for care at home. It’s impossible.

Sadly volver knows exactly what she’s talking about.

You don't read posts do you?

You can plan ahead to avoid having to go into a care home.

Do you have personal experience of what this entails? I suspect not. Theory is a wonderful thing. Practice is something else.

And of course you don’t know exactly what care you might need, nor when. Huge difference between becoming immobile, developing dementia and having a sudden catastrophic stroke.

Fleurpepper

Privately. And to organise your home in such a way that makes it possible.

DF had enough money to fund private carers for two years. There was not one to be had. None available. Anywhere within 30 miles.

I know because I phoned them all. Several times each.

Maddyone, am I reading your post as a fee of £1325 a week correctly? If so,wow,megga expensive.

You can’t plan well ahead for care at home. It’s impossible.

Sadly volver knows exactly what she’s talking about.

Privately. And to organise your home in such a way that makes it possible.

All you have to do?

Sorry, but you have no idea what you're talking about. I speak from experience. The care sector's in crisis.

Agreed that I would not want my children to have to look after me. All steps are taken in time so that will not happen. I will spend good money to be looked after at home. All you have to do is to plan well ahead.

volver

That's different Blondiescot, to saying you'd rather die than go in a care home.

Oh tell me about it, when my late mother was first taken into hospital, I had to sit in a meeting (to decide what the next step was for her) and listen to said she would kill herself rather than go into a care home! At the end of the day, she had no choice in the matter. Been there, done that, no intention of inflicting the same on my own children, thank you very much!

Fleurpepper

Not the subject of this thread however.

Back to the OP.

Nothing wrong with making a fortune with care homes- if you pay all taxes, staff are well paid and have good conditions, and mainly, people in you care are well looked after, in dignified conditions.

Indeed. Right there ^

Not the subject of this thread however.

Back to the OP.

Nothing wrong with making a fortune with care homes- if you pay all taxes, staff are well paid and have good conditions, and mainly, people in you care are well looked after, in dignified conditions.

volver

biglouis

I once had a market research telephone job and one survey was aimed at those of 50 and over. A question asked was about their greatest fear. Top of the list were "loss of partner" and "loss of health". Third on the list was "losing my independence" which is what happens when you go into a care home, no matter how "nice" it is. I dont have a partner but I would prefer to be dead rather than lose my independence.

We'll have to agree to differ then.

"losing my independence" which is what happens when you go into a care home

Wrong. You should visit some good ones.

I have, far too many.

It is NOT for me.

I would not 'check out early' for my kids new kitchen- but because I don't want this kind of life, especially past a certain stage. We certainly did not mind losing both inheritances, because parents went into care homes.

It is just not for me. Will stay in my own home with private help. If I am diagnosed with Alzheimers, I will not stay around for the indiginities to come.

My choice. OH feels the same- we have seen too much. And ACs know. It took them a while to accept- but they know fully agree.

volver

Care Home fees...

As an only child, I was in line for all the money that my DF spent on care home fees. I would rather have no inheritance at all than have had him try to exist outside of a care home. Or worse still, to think that he "checked out early" so that I could have a new kitchen.

Indeed.

I'm not an only child, but I preferred my parents spend their savings and home equity on their care. I'd be angry if they did otherwise "for us".

I have no need to a new kitchen, or inheritance. What we own and earn now will see us out - well enough.

Thank you Aveline

Volver I will be quite happy to go into a care home when the time comes. A mishmash patchwork of 'carers' coming to the house at all hours would be awful. I'd also hate to make my children feel guilty or overloaded with worry about me.
You did absolutely the right thing with your dear Dad. It sounds like a lovely place.