Log inKeith
Keith contacted us in early 2016 about financial advice on behalf of his mother, who was in full time residential care. Keith and his brother held Power of Attorney and sought our advice with regard to the best way to generate an income of £2,000 per month to fill a care fee shortfall. Keith and his brother had the proceeds from the sale of their mother’s home to invest as well as an existing investment plan.
We reviewed the existing arrangements and agreed that leaving the house proceeds in cash would not generate the income required with interest rates being so low. Therefore, we recommended an investment strategy designed to generate £2,000 per month whilst trying to preserve as much of the fund as possible. With the level of income required each month, it was inevitable that some level of capital erosion would result, but the agreed strategy was designed to slow the effects of this as far as possible, whilst filling the care fee shortfall.