Care Funding Options
PAY AS YOU GO
The big advantage of this approach is that you retain control of your assets, withdrawing money when needed to meet the cost of your care. Your money can be invested on deposit or in other forms of investment. Your investment return may meet some of your care costs.
However, such a portfolio has no long term guaranteed income and therefore your assets are likely to run down over time. At some point your money may run out and this could mean a reliance on local authority funding, which could mean that you have to move to a different care home. The care fees payment plan options can protect against this.
This is how we would structure a typical pay as you go portfolio.