How to Avoid Retirement Woes
It’s no secret healthcare costs are going up. Medical expenses have been steadily increasing for years. In 2007, costs were up almost 12 percent. However, the rate of increase slowed to 6 percent during the past five years and that trend is expected to continue for the foreseeable future, according to a June 2018 report from PwC.
How long will you live?
It’s not a question anyone can answer with any certainty, and that creates a significant risk when planning for retirement. Your retirement may last for a long time, and you will need to have enough income to live comfortably without running out of money.
Health insurance used to be a fairly simple process. But today, whether obtaining health insurance privately or through an employer, we’re being offered a variety of insurance plans with varying benefit levels, making the choice more difficult.
There is a simple and unsettling reality in the United States. Most Americans are not financially prepared for retirement.
More than one-half of working Americans know little or nothing about Medicare costs.1 Not knowing can be expensive.