This week I’m talking about how much healthcare will cost in retirement. 

Today, it’s gettin’ real depressing over here at the One Minute Retirement Tip, because I’m sharing with you how much you can expect to pay for healthcare in retirement. 

Healthcare is one of the biggest expenses for most retirees - ranking right up there with housing and transportation costs, and it comes with an equally big lifetime price tag. 

Fidelity estimates that about 15% of the average retiree's annual expenses will be used for health care-related expenses, including Medicare premiums and out-of-pocket expenses. 

In that same study, Fidelity found that the average retired couple age 65 in 2019 will spend $285,000 on health care expenses in retirement. For single retirees, the estimate is $150,000 for women and $135,000 for men. Ouch! 

How much you spend is obviously going to vary widely depending on where you live, how you’re paying for out-of-pocket expenses and how healthy you are, but in my experience, most of my clients end up spending $5,000-$15,000 per year on healthcare costs. 

That’s it for today. Thanks for listening. My name is Ashley Micciche and this is the One Minute Retirement Tip. 

----------

>>> Subscribe on iTunes: https://apple.co/2DI2LSP

>>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs

>>> Check out our blog: https://truenorthretirementadvisors.com/blog/

----------

Tags: retirement, investing, money, finance, finances, financial planning, retirement planning, saving money, personal finance, wealth management, money tips, fee only financial advisor, financial planner, financial podcast, retirement podcast, financial independence podcast