Healthcare

Rethinking scary retirement numbers

You may have read the beginning at at age 65 a couple will need $275,000 to cover all health care related costs throughout retirement.

If you are scared by that number, let’s think about it. That’s over 25-30 years and includes inflation.

Any major expense will look scary if you try to estimate it over a life period.

My property taxes at the current amount will cost me $360,000 over the next 25 years without any inflation added.

So I may have a choice, get health care or be homeless.

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2 replies »

  1. It amazes me that people get upset over that large retirement health care bill. Yes it is a very big number and it is very real and will only go up.

    But I think the solution to the sticker shock is to get real estate and mortgage brokers to sell health insurance. Many people are willing to buy more house than they can afford and pay back almost an equal amount interest plus an equal amount for taxes over the the life of a 30 year mortgage. People are happy to do too. Then suddenly, paying to ensure good health they can’t afford it. Some people still carry their mortgages into retirement so they already thought that they could pay that amount of money each month anyway.

    Like

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