Healthcare Costs During Your Retirement

June 21, 2013 6:33 PM
Healthcare Costs During Your Retirement
" BOSTON (CBS) – I just finished reading the results of a new survey, “Americans’ Perspectives on New Retirement Realities and the Longevity Bonus” funded by Merrill Lynch in partnership with Age Wave, a think tank on aging.

Ask me, a financial planner, and I would have told you a retirees’ number one concern in retirement is enough money. Not so according to this survey, it ranks #3.

With being a burden to one’s family as #2 and the number one concern, the prospect of serious health problems tops the list. Now #2 and possibly #1 can be alleviated by having enough money. But some health problems can’t be fixed with money.

According to Ken Dychtwald of Age Wave, a health problem is a triple whammy. First, it’s unpredictable. No one knows exactly when they might become ill, how bad the problem will be, or how long it might last "

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