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Retirement Medical Costs Keep Rising

Last update on: Mar 14 2020

The annual retirement health care estimate prepared for Fidelity Investments found that costs keep rising. The estimate for 2017 says that costs are 6% higher than in last year’s estimate. The report estimates lifetime medical expenses for a couple that is 65-years-old today will be $275,000, compared to $260,000 last year.

That estimate doesn’t include all costs. It excludes, dental, vision, long-term care expenses and some others. Compare the Fidelity estimate with this one from EBRI, which establishes a range of estimated costs for couples who need different levels of care.

The bottom line is that even for healthy people medical care in retirement will be expensive, and a lot of it won’t be paid by employers or the government. You need to explore the strategies we recommend in Retirement Watch.


July 2021:
Congress Comes for your Retirement Money
A devastating new law has just been enacted, with serious consequences for anyone holding an IRA, pension, or 401(k). Fortunately, there are still steps you can take to sidestep Congress, starting with this ONE SIMPLE MOVE.

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