Many of the health care costs in retirement add up over time so they aren’t all big-ticket items like major procedures or long-term care. According to the Fidelity Retiree Health Care Cost Estimate, an average retired couple age 65 in 2021 may need approximately $300,000 saved (after tax) to cover health care expenses in retirement. It’s important to understand that these health costs estimated by Fidelity do not include long-term care. Make sure you have a plan in case you or your spouse need to go to a facility.
Watch the full episode, The Power of Financial Planning
