Health Care Costs in Retirement
In retirement you find that you start spending less in some areas and more in others. For example, you may find yourself spending less on gas because you no longer commute ever day to work. It is estimated that retirees generally spend 75% as much money as they did before retirement. However, the rising price of health care may threaten this generalization. The largest expenses in retirement are usually in unexpected health care costs as a result of an accident or illness. There are many resources out there for the average cost of health care for retirees and plans to look in to for making sure that it won’t ruin your finances in retirement. For more information visit this article by Glenn Ruffenach with The Wall Street Journal.