Long-term care fees are the Mount Everest of all bills. Everything else pales in comparison. Yes, school and university fees are high, but you might only pay them for three years or they can be avoided entirely. Saving for a pension isn’t cheap, but it is eased by generous tax reliefs, while your money, and more, is returned to you at the end of your working life. Care home bills, on the other hand, can eat up £50,000 a year for an indefinite period, rising relentlessly. There is no return on your investment, and no tax relief.
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