Life’s like a road that you travel on
Where there’s one day here and the next day gone
Sometimes you bend, sometimes you stand
Sometimes you turn your back to the wind
-Life Is A Highway, Tom Cochrane
One of the most significant expenses you will encounter as you approach retirement age and beyond is healthcare.
According to this article from Fidelity, the average couple will need $295,000 (in today’s dollars – this does not cover inflation) to cover healthcare expenses during their retirement years.
I should also add that this does not cover long-term care costs – that’s another expense entirely.
Remember – $295,000 is average. That means for many of us, it’s more.
That might seem like a scary figure, but it doesn’t have to be.
When you create a plan, you can do anything—even something impossible-sounding.
Life’s a highway, and since they haven’t come out with a Google Maps for life (yet!), you can’t predict what twists, bridges, roadblocks, and traffic jams you’ll hit as you travel it.
I’ve tried to make it as easy as possible to prepare for the journey to your destination (retirement readiness!), but there is one catch: you need to take action. Let’s have a quick chat about it. Reach out by calling 513-563-PLAN (7526) or just head here today.
Nikki Earley, CFP®