Planning for care later in life: are you leaving it too late?
Many people approaching later life avoid planning for care until it becomes unavoidable. But with costs uncertain and needs often underestimated, leaving it too late can limit your choices. Understand why early, practical planning could give you more control, reduce pressure on your family, and help you face the future with greater confidence.
For many people approaching retirement age, later life planning has tended to focus on retirement itself. Building up pension savings, deciding when to stop work, perhaps thinking about how to enjoy the years ahead. But there is one part of later life that often remains on the sidelines until it feels unavoidable: planning for care.
Recent Lloyds Wealth research suggests that around 1 in 5 people (21%) over the age of 60 say they would only deal with later life care if it became necessary. In other words, it is something to be addressed later, if and when circumstances demand it.
That response is understandable. Thinking about care can feel uncomfortable, emotive, or simply too uncertain to plan for with confidence. But leaving it until necessity forces the issue can limit choice and increase pressure at exactly the moment when time, energy and flexibility may be in short supply.
Care is more common than many expect
One reason people delay planning is the belief that care may never be needed. Yet the likelihood is higher than many realise. According to Age UK, one in four people will need some form of paid-for support later in life by 2050, whether that is help at home or, in some cases, residential care.
When respondents were asked how much thought they had given to the possibility of needing paid care, more than half of people (64%) in their 60s and beyond said they had thought about it “a great deal” or even “some” of the time. Almost four in ten (36%) said they had given it very little thought or none at all.
This gap between probability and preparation is not unusual. Care is often associated with advanced age or ill health, so it can feel remote when life is busy and independence remains strong. But it is precisely because care needs can arise unexpectedly that earlier consideration matters.
Even among those approaching or in retirement, views on affordability are mixed. Only a small minority (8%) said they felt very confident they could afford long-term care without significantly affecting their lifestyle or family. Around two thirds (65%) said they were not confident or not very confident.
Without a plan, the risk is that care costs are absorbed reactively, perhaps through rushed decisions about property, savings or family support.
Planning is not about predicting the future
One common misconception is that planning for care means trying to predict exactly what will happen. In reality, effective planning is less about certainty and more about creating flexibility.
A care plan can be as simple as understanding your assets, having a sense of how different care options might be funded, and discussing preferences with family. It can include thinking about whether downsizing your home could help cover costs, how care costs would sit alongside retirement income, and what trade-offs feel acceptable to you.
Encouragingly, many people at this stage of life already recognise the value of open conversations. Nearly half (49%) believe that talking to family about care could reduce future stress and help everyone feel more prepared. Yet fewer have actually had those discussions (23%) or formally included care costs in a retirement plan (13%).
The hidden benefits of planning ahead
Planning earlier offers several advantages beyond finances alone. It creates space for calmer decision-making and ensures your wishes are better understood. It also reduces the likelihood of loved ones having to make difficult choices during a crisis.
Importantly, planning does not commit you to a particular outcome. It simply means you have thought through “what if” scenarios, rather than leaving everything to chance. When asked what would make planning feel easier, those preparing for retirement and beyond were most likely to point to talking things through with family (44%), closely followed by clearer projections of future income and costs (37%). Professional guidance also featured strongly (33%), particularly help in weighing up trade-offs and options rather than being pushed towards a single solution.
A gentle shift from “if” to “how”
The fact that one in five people (21%) would only plan for care if it became necessary tells us something important. It highlights not lack of awareness, but hesitation. Uncertainty, emotion and complexity all play a role.
But shifting the question from “Will I need care?” to “How would I want to handle it if I did?” can make the conversation feel more practical and less daunting.
Later life care planning is not about expecting the worst. It is about giving yourself and your family more control, more time, and more choice, whatever the future may hold. And for many, that peace of mind alone is reason enough to start the conversation sooner rather than later.
Source: Attitudes towards planning for later life care research, Lloyds Wealth, May 2026
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