Aside from housing, healthcare is the biggest cost for most retirees. And unlike housing, where you can make a reasonable guess as to what things will cost based on your current expenses and inflation… the cost of healthcare varies widely based on everything from your health to how long you live.
That can make budgeting for healthcare a particularly tricky part of retirement planning.
A financial advisor can help you run through multiple variables and scenarios to better assess how much you might need to save and allocate toward healthcare. But there’s a second element to the planning: Your health insurance coverage. Good coverage can make a big difference in affordability and go a long way toward preserving your nest egg.
Quorum’s Dylan O’Shea discusses these moving pieces and how they work together in a retirement plan with Move Health’s Cole Craven.
