We all want to be healthy as we enter our retirement years. But how do ensure we are healthy, and a what cost? Planning for retirement, itself can seem difficult, even more difficult would be planning for your health in retirement. You may live a healthy life now, but how do you know what the state of your health will be in the future. Whether your planning to travel the world, road trip around the country in an R.V spend time with your family or give back to your community, all of these require that you are in good health in your later years. And, it is likely that you will need a sizable amount funds to pay for your lifestyle.
Infelizmente, healthcare is a spending category that rises consistently in retirement as we get older. The average out of pocket health care cost for a household between the ages of 65 e 74 is nearly $4,400 um ano, which is about 11% of the total household spending. According to a new study from the Employee Benefit Research Institute, health care expenses have grown by 19% of household income to $6,6013 for household with at least 85 anos.
This cost breakdown comprises of recurring and non-recurring healthcare cost. For the Medicare-eligible segment of the population, the average recurring expenses medical services, such as doctors visits, prescription drugs and medical supplies, total $1,855 um ano.
On average retirees can assume that 2% inflation with 3% returns. If a person’s life expectancy were 90 anos, they would require $41,000 a year age 65 to fund his or her recurring expenses. This is not calculating for insurance premiums and over-the-counter medications. Há também despesas não recorrentes, tais como hospitalização durante a noite, e estadias lar de idosos pode ser um custo significativo, que média $24,185 para as pessoas, pelo menos, 85 anos.
É importante para as pessoas a planejar adequadamente com base em suas estimativas de custo. O estudo EBRI descobriram que se os homens e as mulheres queriam ter um 90% possibilidade de pagar por despesas pessoais, em seguida, os homens e as mulheres precisam ter $116,000 e $131,000 na poupança, respectivamente. Contudo, para a grande maioria dos aposentados, saving up for retirement basics is difficult let alone save up an addition money to cover medical cost. According to an AARP, 55% of Americans over the age of 60 believe that will not have saved enough money for healthcare when they reach the age of retirement. 38% of people over 55% have not saved anything and 70% wish they started saving before they were age 35%. While only 28% of people over 50 started saving when before they were 35. Even worst, 44% did not have any plans to start saving the future.
Medicare will only cover about half of the medical cost, and is most commonly to be the means in which people expect to pay for medical care in retirement. Quase 57% of people expected to work past the age of 65 to pay for the financial shortfalls in order to supplement their income.
There are ways to cut medical cost during retirement.