Retirement’s meant to be a breeze. But imagine if halfway through, the funds start dwindling. Here are some telltale signs to watch out for:
- Long-Term Care Plans in Place?
Many of us hitting 65 might need long-term care. And here’s a shocker: a year in a care facility could set you back around $54,000 as of 2021!
But it’s not all doom and gloom. From insurance to annuities, there are ways to get ready. Expert advice? Worth its weight in gold.
- Thought You’d Be Around for Only 20 More Years?
A bunch of 65-year-olds today might still be kicking it at 90. If you planned funds for 20 years but end up chilling for 30, there’s some recalculating to do.
Top tip: Check out Livingto100.com to get a feel for your potential lifespan. Also, diversify your retirement income streams.
- Set Aside Cash for Healthcare?
Healthcare’s a sneaky spender. You might need a cool $250,000 or more. And for a couple entering the retirement phase in 2022? Think in the ballpark of $315,000.
The plan? Make sure you factor in these costs when you’re laying out your retirement strategy. And once you’re enjoying retirement, nail down the perfect Medicare plan for you.
Keen for the full list?
