31% of Older Americans Expect This to Be Their Largest Expense in Retirement. And They're Probably Right
Though retirement is an exciting milestone to look forward to, it's also a scary one, at least from a financial perspective. Not having an incoming paycheck means having to rely on a combination of savings and Social Security to cover the bills, some of which have the potential to drop in retirement, and some of which have the potential to rise.
The latter tendency applies to healthcare in particular. In fact, in a recent Nationwide survey, 31% of Americans ages 50 and over anticipate healthcare being their single greatest expense in retirement. And data from HealthView Services, a cost-projection software provider, supports this sentiment, as it estimates that the average healthy 65-year-old couple retiring this year will spend an astounding $387,644 on healthcare during their golden years.
IMAGE SOURCE: GETTY IMAGES.
Source Fool.com
