Someone from the 'International Longevity Centre has suggested that we should all be spending our money not 'hoarding' it www.thetimes.co.uk/edition/news/older-people-should-spend-rather-than-leave-an-inheritance-5xrtn6dl2 It seems hoarding our money is harming the economic prospects of young people.
What is completely unmentioned in this article, or at any other place I checked is that many of us are hoarding our money in case we need to pay for care, at home or in a care home.
At a time when a decent care home costs £1,000 plus a week and home care can cost many hundreds of pound a week, those of us who can want to be self-financing so that we are not dependent on the underfunded care provided by Local Authorities . So we are hoarding our money to ensure we get decent care.
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