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How Much the Average Couple Will Spend on Healthcare in Retirement

CNN Money has this to say about healthcare spending in retirement:

The average couple retiring today at age 65 will need $280,000 to cover health care and medical costs in retirement, according to an annual estimate by Fidelity, released Thursday.

A few thoughts from me:

  • This is from 65 on. I still have over a decade before I get there.
  • If I could give someone $280k and know that all my and my wife’s healthcare was taken care of from 65 until I died, I would do it. It’s the uncertainty that’s a killer. That it could be $280k or could be $1 million.
  • Many early retirees have to scramble for healthcare coverage. Here’s what we did.
  • The #1 concern of millionaires at retirement is paying for healthcare. If they are worried about it, what chance do most others have of making it work?

What do you think? Do you have any thoughts on healthcare in retirement?

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