Are You Prepared for This $606,337 Retirement Expense?
Though a number of your living costs may go down once your career comes to a close, there's one expense that's highly likely to rise: healthcare. In fact, many current seniors spend more money on healthcare than on any other individual expense, and future retirees are likely to see their costs climb even higher.
In fact, the average healthy 65-year-old couple retiring today can expect to spend a whopping $606,337 on lifetime medical expenditures, reports HealthView Services, a provider of cost-projections. That figure assumes a 22-year lifespan for males beyond 65 and a 24-year lifespan for women. And again, it assumes that couple enters retirement in average health. But seniors who kick off their golden years with existing issues could end up spending much more. And also, that estimate does not include long-term care, which costs the average senior $172,000 in his or her lifetime.
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Source Fool.com
