Welcome to a new week and a new theme here on the One Minute Retirement Tip! 

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

It’s a big question to factor into your spending in retirement and it’s something that many people forget to plan for when they are figuring out how to budget for this big expense.

So this week, I’ll be talking about what you can expect to pay for healthcare in retirement, how medicare works, and to handle unexpected curveballs like needing expensive long-term care later in life. 

One important tip about calculating your spending for healthcare in retirement, that I want to make - you should budget for healthcare separately, rather than just lumping it in with your total monthly or annual spending. It really needs to be its own line item. 

Why? Well, because healthcare costs are likely to keep climbing at a higher rate than inflation so it’s likely that healthcare will become an increasingly bigger slice of your monthly spending pie, especially as you age - not just because cost increases will likely outpace other costs, but also because you’ll probably spend more in healthcare as you age, since most of us aren’t built with bodies that hold up well past the age of 70-80. 

Tomorrow I’m going to dive in with the depressingly high $ figure you can expect to pay for healthcare in retirement.

That’s it for today, but before you go...If you haven’t already left a review for the One Minute Retirement Tip, please consider leaving an honest review in Amazon or iTunes. I read them all, so feel free to leave any feedback or topic suggestions there too. 

Thanks for listening. My name is Ashley Micciche and this is the One Minute Retirement Tip.

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