How Do Healthcare Costs Impact Retirement Income Planning?

You’ve spent decades building your retirement nest egg, carefully calculating how much you’ll need for everything. But there’s one expense that might catch you off guard and potentially derail your entire financial plan – healthcare costs. Healthcare costs in retirement are not just another line item in your budget, they’re often the largest expense you’ll face, and they have a nasty habit of growing faster than your other costs. Most people underestimate what they’ll spend on medical care during retirement. The Bureau of Labor Statistics estimates the annual spend on healthcare is close to $6,500 per person at age […]