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Health care is often the biggest expense in retirement — and the hardest to predict
As the youngest of the baby boomers celebrate their 50th birthdays this year, many will put renewed attention on what will likely be the biggest expense in retirement: their health. Still the responsibility of caring for retirees — as well as the cost — often falls on family members. Almost half, or 46 percent, of caregivers spend more than $5,000 a year on elderly family members, according to a study released Monday by Caring.com, a Web site for people who look after aging parents. Seven percent of caregivers say they spend $50,000 or more a year…Read More
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