Seniors’ heathcare costs taking a bigger bite out of retirement
With healthcare costs rising as much as they are, seniors are losing more and more buying power for their retirement dollars. And with Social Security making up a large percentage of many seniors’ income, COLA increases unfortunately aren’t keeping pace with increased healthcare costs. Add to that the fact that so many seniors entering retirement today have little or no savings in their nest egg, and a somewhat dismal picture for tomorrow’s retirees can be painted; an important reason why building your savings is now more important than ever. This article by Maurie Backman appears at madison.com and explains how retirement healthcare costs are rising twice as fast as Social Security. Click here to read more.
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