#2 Healthcare -10 Things You Need To Know To Plan Your Retirement Income

 In Financial Planning, Ozarks Live

#2 Healthcare- 10 Things You Need To Know To Plan Your Retirement Income

Healthcare expenses may increase: Inflation and the unknown of the healthcare system is a good indicator that healthcare costs will be going up.  The longer someone lives, the higher the chance of becoming unhealthy. 80% of adults 65 and older suffer with at least one chronic condition¹. Being active and choosing a healthy diet can lower your chances of suffering from a chronic illness and it can increase your longevity.  

Using health insurance can help mitigate retirement costs: Choosing a good health insurance plan could save you money, leaving you more income for retirement.  There are many choices for plans to supplement your Medicare, such as Medicare Advantage Plans and Medicare Supplements.   Be proactive with your provider to get the best care that your plan covers.  

Stay healthy, and start early: Going back to work at the age of 70 and after retirement to produce more income to offset health care costs is not an ideal situation, so work on staying healthy as long as possible and start early. Most importantly always try to save money even after retirement, and plan how you are going to handle those costs.

Make sure to tune into Bruce’s show on Tuesday for the 3rd part of the 10 things you need to know to plan your retirement income series.  Contact Bruce with your own questions at bporter@resourcecenterinc.com

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Sources:

1- https://www.ncoa.org/blog/10-common-chronic-diseases-prevention-tips/ Accessed 2/23/18

 

We are an independent firm helping individuals create retirement strategies using a variety of insurance and investment products to custom suit their needs and objectives.  This material is intended to provide general information to help you understand basic financial planning strategies and should not be construed as financial advice.  All investments are subject to risk including the potential loss of principal.  No investment strategy can guarantee a profit or protect against loss in periods of declining values.  

The information contained in this material is believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions.  

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