How Are Healthcare Costs Going to Change During Retirement?

Healthcare is one of the biggest costs you will face in retirement. In fact, by many estimates, it’s the single biggest cost for retirees. A representative study by Fidelity found that a 65-year-old couple in 2022 will need more than $315,000 to cover their healthcare expenses during retirement. That’s after taxes, so if you’re planning on withdrawing that cash from a 401(k) or another taxable account it will probably mean around $362,000 in overall savings. With that kind of money at stake, planning for your healthcare costs in retirement is essential. For help planning how you’ll pay for healthcare in retirement, consider working with a financial advisor.

How Costs Will Change

With retirement planning, when it comes to healthcare costs time both is and is not on your side. Read more

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