82% worry they couldn’t afford care. Are you ready?

Yet when it comes to later life care, there’s a growing disconnect between reality and preparedness. Recent Lloyds Wealth research highlights a striking statistic: 82% of people in this stage of life aren’t confident they could afford long-term care without it significantly impacting their family or lifestyle.

It’s a finding that raises an important question: if care became a reality, would your current plans be enough?

Dig a little deeper, and the picture becomes even clearer. Among this generation, over half (51%) say they are not confident at all about covering care costs, while a further 32% say they are not very confident.

That leaves only a small minority who feel truly secure, and even fewer (just 3%) who describe themselves as very confident.

This isn’t simply about uncertainty, it’s about the potential impact. Many people recognise that funding care could mean difficult trade-offs, whether that’s drawing heavily on savings, adjusting retirement plans, or ultimately affecting loved ones.

Despite these concerns, planning often gets pushed down the priority list.

This hesitation is understandable. Thinking about needing care can feel distant, uncertain, and emotionally challenging. For many, the costs feel complex, and the decisions unfamiliar.

In fact, when asked why they avoid the topic:

Taken together, it’s clear that the issue isn’t apathy, it’s a combination of complexity, emotion, and lack of clarity.

Part of the challenge is understanding what care might actually cost.

While many people estimate weekly care costs at between £500 and £1,500, a significant proportion underestimate the potential expense or are unsure altogether. Without clear expectations, it becomes harder to plan realistically, or to know whether current savings and income would be enough.

This uncertainty feeds directly into the confidence gap. If you don’t know what care might cost, or how long it may be needed, it’s difficult to feel prepared.

Encouragingly, some people have taken initial steps:

However, 29% haven’t taken any steps at all.

This highlights a common pattern: people recognise the potential issue, but haven’t yet translated that awareness into a clear, structured plan.

Interestingly, most people can see the value of addressing the issue earlier:

In other words, while the topic may feel uncomfortable, many recognise that avoiding it could make things harder in the long run, both financially and emotionally.

The good news is that there are practical ways to move forward without feeling overwhelmed.

When asked what would make planning easier, people consistently highlighted:

These are important signals. They show that confidence isn’t just about having more money set aside, it’s about having clarity, structure, and support.

For many, this stage of life is a window of opportunity. There’s still time to explore options, make adjustments, and put plans in place that reflect your priorities.

Because while none of us know exactly what the future holds, having a plan can make a meaningful difference, helping to protect your lifestyle, reduce pressure on loved ones, and give you greater peace of mind.

The question isn’t just whether care will be needed. It’s whether, if it is, your plans are ready for it.

Source: Attitudes towards planning for later life care research, Lloyds Wealth, May 2026

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