According to recent research released by Fidelity, conducted with the Stanford Center on Longevity, people retire an average of 4 years sooner than they had planned. For many who do have gap years between when they actually retired and when they had planned to retire, it can be a mad scramble to find affordable, quality healthcare coverage until they are eligible for Medicare at age 65....
The Big Payoff Debate
Women, Healthcare and Retirement Planning
Factoring in rising health care costs is an essential part of the retirement planning equation. It takes even more priority for women, who face higher healthcare expenses as they grow older. A 2016 report from HealthView Services found that a 65-year-old woman retiring now will spend approximately $314,673 on healthcare in retirement….
The Retiree Budget
According to the latest Bureau of Labor Statistics data, which is based on 2016 figures, “older households” — defined as those run by someone 65 and older — spend an average of $45,756 per year, or roughly $3,800 a month. That’s about $1,000 less than the monthly average spent by all U.S. households combined.…