An average 65-year-old couple retiring today will need an estimated $285,000 to cover their healthcare costs.[1] This doesn’t even include long-term care costs, which can run as high as $253 per day on average for a private room in a nursing home or $119 per day on...
If you have elderly parents or know someone who does, you already know that there are many hard decisions to make when it comes to long-term care, especially during the pandemic. And figuring out the finances can be even harder. Trends could change in the coming...
One of your largest retirement expenses could be your healthcare costs. An average 65-year-old couple retiring today will need an estimated $363,946 to cover their healthcare costs, according to one study.[1] With the Medicare fall open enrollment period starting on...
Consider that the average 65-year-old couple retiring today will need an estimated $363,946 to cover their healthcare costs in retirement, and this does not include long-term care costs.[1] Many people assume that Medicare will cover all of their healthcare needs, but...
There’s a 70% Chance You’ll Need Long-Term Care We can all celebrate an increasing life expectancy as we look forward to our golden years. In 1950 the life expectancy for American men was 65.6, and for American women was 71.[1] Now it’s 76.3 for men and 81.4 for...
Your healthcare needs can change in retirement, as can the way you pay for them. At 65, most Medicare beneficiaries must start navigating a new system. If you are or will be a Medicare beneficiary, one important date that should make it onto your calendar is October...