Every person has a mandatory expense in retirement, but you probably already knew that, correct? Unfortunately, that is not the biggest problem! The real issue is it will increase as your income increases!
in a recent study, it is reported that the average total healthcare costs for a 65 year old couple covered by Medicare and insurance would be $394,954.
For a 55 year old couple retiring in 10 years, the total would be $463,849. The study also says that for that couple retiring in 10 years, medical expenses will eat up 90 percent of their Social Security income. Are you prepared for that?
Have you done any planning to manage, control or even reduce the increasing cost of healthcare?