Some unexpected good news on the retirement planning front – Fidelity’s most recent forecast of healthcare spending in retirement projects that a 65-year-old couple retiring in 2013 will need $220,000 to cover healthcare expenses for their remaining lives – this is down 8% from the forecast made in 2012. These forecasts are based on average life expectancies and national averages for healthcare spending – individual outcomes will vary. However, it is important to have a starting point for creating financial projections to assess your retirement readiness. Healthcare spending is one of the biggest expenses in retirement and escalating costs are a major threat to financial security for older Americans.
- Retirement Readiness Has Slipped for Younger Generations
- Quarterly Market Review