Archives for Healthcare Costs

How Rich Do You Have to Be in Order to Retire?

How Rich Do You Have to Be in Order to Retire?

August 18, 2020

Even though perceptions have changed during the pandemic with more Americans now saying they need less money to feel rich1, when it comes to retirement, most people are still unclear about how much they will need to have saved before they can quit their jobs. The answer to that question is different for every person. Here are some of the things you need to think about in order to get a realistic retirement number in mind.   What do you want to do during retirement? Where will you live? Different people have different retirement goals and visions. You may not
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Annual Medicare Open Enrollment Begins October 15 and Runs Through December 7

Annual Medicare Open Enrollment Begins October 15 and Runs Through December 7

September 24, 2019

    If you’re already enrolled in Medicare it may be time to evaluate your current coverage, make changes or switch plans during the open enrollment period from October 15 through December 7. If you have a Medicare Prescription Drug Plan, and are considering making changes from Original Medicare (Parts A and B) to a Medicare Advantage Plan, or vice versa, now is your chance to make changes or enroll. Medicare health and drug plans are allowed to make changes to their offerings each year, including changes to costs, coverage, and what pharmacies and providers are in their network. If
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Make Room for Rising Healthcare Costs as Part of Your Retirement Planning

Make Room for Rising Healthcare Costs as Part of Your Retirement Planning

August 19, 2019

  Does your retirement plan include strategies to plan for, manage, and even reduce healthcare costs in retirement? It is projected that an average healthy 65-year-old couple retiring this year will incur total lifetime healthcare costs of $387,644 in today’s dollars, according to research by HealthView Services, a provider of retirement healthcare, long-term care and Social Security optimization tools for the financial services industry. The figures were released in early July. To no surprise, as the couple ages, costs will be significantly higher later in retirement than at the beginning. In the first year of retirement, the couple’s total annual
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