Are You Budgeting Enough for Health Care in Retirement?

Health care costs are increasing faster than any other expense (except maybe the cost of college). Which probably explains why one of the most common questions we hear is, “How much should I budget for health care costs in retirement?” My knee-jerk response usually is, “It depends.” That’s such a weaselly answer. This article is much better. It tells you how much health care will cost in retirement – at every age. For example, you’ll see why health care costs will soak up 48% of a 66-year-old couple’s lifetime Social Security benefits and 72% of a 45-year-old couple’s. Our experience is that this is an issue that many retirees and pre-retirees don’t want to face. But it might be even more expensive to ignore it.

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