Retirement income has become a looming concern for millions of Canadians, who fear they will not have enough savings to enjoy the standard of living they have come to expect. One factor in that concern flows from the potential that government programs will not cover all their health and social...
Health care costs in retirement can be substantial, and even everyday medical expenses such as prescription drug costs and routine medical services can add up over time. According to a recent estimate, the average couple with a high prescription drug expense will need $383,000 in ...
The article discusses a survey conducted by Harris Interactive for Nationwide Financial, about the trend among financial advisors towards discussing health care (HC) cost in retirement in the U.S. The survey found that 80 percent of the 501 financial advisor respondents believe that they will keep...
When it comes to planning for your retirement health care costs, the choices you make now can help you get a head start on having sufficient resources for the health care you may someday need. Universal concern 80% of respondents indicated worries over their ability to fund health care expens...
Many people nearing retirement don’t have a good feeling about whether they have saved enough to make it through retirement. Add to that worries about health care costs in retirement, and those concerns are off the chart. They should be. ...
irement savings.]]>Elswick, Jill
Health-care costs are often the big question mark hanging over boomers' retirement savings. But with a little planning, boomers can work to take some of the guess work out of savings for retirement.doi:urn:uuid:6dd0246deb5af310VgnVCM100000d7c1a8c0RCRDCasey Dowd...
No matter how you break it down, health care costs in retirement are expected to keep going up. Fidelity's tally rose 11% in the past year. Calculator: Will you have enough to retire? "At our age, health care is at the top of our list of concerns -- especially when you think abou...
How much is needed for health care costs in retirement? On average, according to the 2024 Fidelity Retiree Health Care Cost Estimate, a 65-year-old individual may need $165,000 in after-tax savings to cover health care expenses. This amount is up nearly 5% from 2023. Of course, the amo...
Using an HSA to Fund Retirement As the name implies, a health savings account's primary purpose is to fund health care costs. However, it's possible to use the money you save for other expenses in retirement should you remain healthy or become able to cover health care expenses withMedicare...