How You Can Prepare for Record Healthcare Costs in Retirement
Healthcare isn't cheap. And it's showing no signs of getting cheaper anytime soon. In 1970, total health spending in the U.S. was $74.1 billion. By the end of 2020, this number had skyrocketed to $4.1 trillion -- triple what it was in just 2000.
Unfortunately, retirees are feeling a lot of the effects of these increased costs. According to Fidelity, the average retired couple age 65 in 2022 will need around $315,000 (after taxes) for healthcare expenses alone. The true amount will undoubtedly vary because everyone's health situation is different, but healthcare in retirement won't be cheap for most people.
Source Fool.com
