In a new study today in the UK, it found that 46% retirees of the baby boomer generation will be forced to sell their homes if they had to find money for care fees. A lot of people believe that the basic state pension, which is currently £84.25 a week will cover the cost of care. The average weekly cost of residential care is closer to £400 a week which leaves a massive funding gap or nearly £16,500 a year.
A lot of adults in this country are led by a false sense of security believing that one day, should they need care, it will be funded by the state out of taxpayer's money. The reality cannot be more different.
To continue reading about Baby Boomers have to sell homes for retirement.
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