Budgeting for Retirement? Plan on Spending Large for Health Care

When budgeting for retirement, always make sure to consider health care expenses. You may be thinking that it’s an obvious factor to have in plans. But for us, we’d like to think that having a proactive approach to these expenses is akin to redefining retirement. It may even be a given point, perhaps, for some to include health care costs in their plans, but did you know that most boomers tend to forget these essentials? As revealed in a study conducted by the Insured Retirement Institute last year, only 39% of the boomer respondents revealed they have attempted to figure out how much needs to be set aside for retirement –a third did not consider health care costs in their plans! As such, we’d like to mention some much-needed pointers to help remind you and other readers about the importance of health care in

Why Living Longer Should Change the Way We Plan

Living longer sounds fantastic considering that some baby boomers have this beautiful view of what the golden years are, with vacations and activities with friends and loved ones as key highlights to look forward to. Yet longer years also mean more expenses to consider, with health care costs related to aging as one of the top priorities to consider. As we’ve pointed out in our previous article, Medicare Supplement Insurance: Financing Your Future, a Medigap policy is a reliable solution for these expensive health care issues. And also, we’d like to share some tips on how boomers can approach the twilight years, by placing longevity as a key factor in their retirement plans. Redefine What Retirement Is According to the World Health Organization, life expectancy greatly increased to an addition of two or three years in a given life span for every decade over
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