Could This Be Your Biggest Expense in Retirement?
by Chase Reardon, Financial Advisor
What do you think will be your biggest expense in retirement?
It depends on your specific situation, but for many people it will likely be the skyrocketing cost of healthcare.
According to an article in Marketwatch…
“A healthy, average couple aged 65 who retired in 2020 will spend $662,156 on retirement health care expenses.”
If you’re several years from retiring, your out-of-pocket costs could be even higher as these expenses are growing faster than the rate of inflation.
Many people believe that Medicare will cover most of their healthcare expenses in retirement.
But that won’t be the case for most people.
Medicare will cover some out-of-pocket expenses, but not all of them.
Here’s the solution to paying for healthcare…
Don’t wait until the last minute to figure out how you’ll pay for healthcare and long-term care.
To learn more about how to get started, contact us at (866) 746-2401 or ask@shpne.com.
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Source: Marketwatch
