Monday, April 30, 2018

$280K Is What a Couple Retiring This Year Will Need to Cover Health Care

  • Fidelity says the cost breaks out to $133,000 for men and $147,000 for women, primarily because of their expected longer lifespans.
  • “Covering health care costs remains one of the most significant, yet unpredictable, aspects of retirement planning,” says Shams Talib, executive vice president and head of Fidelity Benefits Consulting. “It’s important for individuals to educate themselves and take steps while working to ensure they are prepared to address these costs.”
  • Fidelity says that its estimate is based on a couple retiring at age 65. However, for those who retire earlier, the costs will be higher. 
Source: April 19, 2018