Couple Retiring Today Will Need $300,000 During Retirement to Cover Medical Expenses, an 88% Increase Since 2002

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Couple Retiring Today Will Need $300,000 During Retirement to Cover Medical Expenses, an 88% Increase Since 2002
Fidelity

May 7, 2021

"[A] 65-year old, opposite-gender couple retiring this year can expect to spend $300,000 in health care and medical expenses throughout retirement. For single retirees, the 2021 estimate is $157,000 for women and $143,000 for men.... 82% of Americans say the pandemic has impacted their retirement plans. For those within 10-years of retirement, one-in-five (22%) say they are accelerating their timeline to leave the workforce. Of this group, 80% are under the age of 65, meaning they will need to bridge their health care options before eligibility for Medicare kicks in."

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