Health Populi April 8, 2019
The average 65-year old couple retiring in 2019 will need to have a cash nest-egg of $285,000 to cover health care and medical expenses through retirement years, Fidelity Investments calculated.
Fidelity estimates the average retiree will allocate 15% of their annual spending in retirement on medical costs.
As if that top-line number isn’t enough to sober one up, there are two more caveats: (1) the $285K figure doesn’t include long-term care, dental services and over-the-counter medicines; and, (2) it’s an after-tax number. So depending on your tax bracket, you have to earn a whole lot more to net the $285,000 for a health care cash-stash.
Women retiring can expect to need $150,000 and men, $135,000.
Health care is creating a...
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