You Won't Believe How Much the Average Senior Spends on Healthcare
Leaving the workforce behind has never been so expensive. Recent surveys put the average cost of retirement at somewhere between $1.5 million and $1.8 million. And if today's seniors are any indication, workers should expect a significant chunk of those savings to go toward healthcare costs.
About 13% of the typical senior household's spending went to medical expenses in 2022, according to the Bureau of Labor Statistics, and for some, this figure could be a lot higher. But the right strategy can help you reduce your out-of-pocket costs and prepare you for the ones you can't avoid.
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Source Fool.com
