Financing Longer Life Spans
The advancement in health sciences over the years is allowing us to live much longer than even those just a few generations before. Baby Boomers are the first generation experiencing this as they are entering retirement looking to experience new things, travel more, and overall being very active in their senior years. Of course, this does mean that your retirement savings must now be able to accommodate a much longer retirement than before. Longer lives naturally accrue higher costs through increased frequency of medical care. The average couple will need $245,000 for medical costs in retirement. This is becoming a bigger and bigger portion of a planned retirement saving. For more information visit this article with Wealth Management.
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