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It’s Important to Include Future Medical Expenses in Your Retirement Plans - Investnews.com
A new survey from D.A. Davidson shows that Americans are not factoring rising medical costs into their retirement plans. The latest projections from Fidelity show healthcare expenses for a couple retiring at 65 have increased approximately 41% from 2015. According to Leo Almazora’s article, Andrew Crowell, the financial advisor and Vice Chairman of wealth management at D.A. Davidson, stated, “Healthcare is one of the most significant, and yet still underestimated, expenses that most retirees will face.”
The article also shows that a very small percentage takes advantage of a Health Savings Account (HSA) to save for future medical expenses. HSAs offer triple-tax benefits: contributions are tax-deductible, growth is tax-free, and withdrawals for qualified medical expenses are also tax-free. Yet only about 21% of Americans use one.
Read Leo Almazora’s full article on the importance of including future healthcare costs into your retirement plan by clicking here……
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