A survey found that the average pre-retiree aged 50 and over estimates their yearly health costs to amount to $7,000 when the real number is closer to $10,700 according to data from Nationwide. While health care in retirement differs depending on the individual’s person health and insurance, it is safe to assume that most people underestimate the expense. Experts recommend making sure to designate retirement money toward healthcare by using a health savings account and accumulating from there.
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May 13, 2020