Personal planning for future long-term care among mid-age and old adults in England: the role of expectations
Personal planning for future long-term care among mid-age and old adults in England: the role of expectations
Most older adults state a preference for receiving long-term care (LTC) at home or in a familiar environment when their care needs are moderate but tend to prefer residential care when their needs become extensive. However, there is limited research on how individuals financially prepare for their future LTC needs and whether such preparedness is linked to their future care needs expectations and beliefs. This study investigates the financial planning for future LTC among middle-aged and older adults in England, focusing on the relationship between respondents' expectations, knowledge, and financial planning activities regarding LTC. The study analyses data from Wave 9 of the English Longitudinal Study of Ageing (ELSA)collected in 2018/19, with a final analytical sample of 6,079 respondents aged 50 and above.The results indicate that many adults underestimate their likely future LTC needs and the associated costs of LTC services and lack knowledge about the complex social care system. Individuals with low expectations of requiring future LTC include those in lower socio-economic positions, those who are older, and those renting their home – all factors that previous research has found to be associated with need for LTC services later in life. Planning for LTC was independently associated with expectations and perceptions of future LTC, reflecting that low expectations along with knowledge barriers may result in inadequate financial planning for future needs. The findings from this study have relevance for the design of programmes which promote LTC planning by providing information and resources to overcome perceived barriers.
ESRC Centre for Population Change
Qin, Min
10d55bfb-f7e6-409a-bcc5-6d2ba1f743e8
Evandrou, Maria
cd2210ea-9625-44d7-b0f4-fc0721a25d28
Falkingham, Jane
8df36615-1547-4a6d-ad55-aa9496e85519
Vlachantoni, Athina
06a52fbb-f2a0-4c81-9fbc-d6efc736c6cb
1 November 2024
Qin, Min
10d55bfb-f7e6-409a-bcc5-6d2ba1f743e8
Evandrou, Maria
cd2210ea-9625-44d7-b0f4-fc0721a25d28
Falkingham, Jane
8df36615-1547-4a6d-ad55-aa9496e85519
Vlachantoni, Athina
06a52fbb-f2a0-4c81-9fbc-d6efc736c6cb
Qin, Min, Evandrou, Maria, Falkingham, Jane and Vlachantoni, Athina
(2024)
Personal planning for future long-term care among mid-age and old adults in England: the role of expectations
(ESRC Centre for Population Change and Connecting Generations Working Paper Series, 110)
ESRC Centre for Population Change
26pp.
Record type:
Monograph
(Working Paper)
Abstract
Most older adults state a preference for receiving long-term care (LTC) at home or in a familiar environment when their care needs are moderate but tend to prefer residential care when their needs become extensive. However, there is limited research on how individuals financially prepare for their future LTC needs and whether such preparedness is linked to their future care needs expectations and beliefs. This study investigates the financial planning for future LTC among middle-aged and older adults in England, focusing on the relationship between respondents' expectations, knowledge, and financial planning activities regarding LTC. The study analyses data from Wave 9 of the English Longitudinal Study of Ageing (ELSA)collected in 2018/19, with a final analytical sample of 6,079 respondents aged 50 and above.The results indicate that many adults underestimate their likely future LTC needs and the associated costs of LTC services and lack knowledge about the complex social care system. Individuals with low expectations of requiring future LTC include those in lower socio-economic positions, those who are older, and those renting their home – all factors that previous research has found to be associated with need for LTC services later in life. Planning for LTC was independently associated with expectations and perceptions of future LTC, reflecting that low expectations along with knowledge barriers may result in inadequate financial planning for future needs. The findings from this study have relevance for the design of programmes which promote LTC planning by providing information and resources to overcome perceived barriers.
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Published date: 1 November 2024
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Local EPrints ID: 496000
URI: http://eprints.soton.ac.uk/id/eprint/496000
PURE UUID: fed7577c-edc7-4e80-8c6f-a9f780536f40
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Date deposited: 29 Nov 2024 16:02
Last modified: 30 Nov 2024 02:55
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