Benefit adequacy is a recently-coined catch phrase among the retirement industry, and with good reason. Many individuals have not saved enough to pay for the costs of health in retirement, let alone broader retirement income needs.
Workers today face enormous challenges, especially with health care costs potentially exceeding Social Security benefits. For couples retiring in one year, HealthView Services Retirement Health Care Costs Index cites that 98% of their Social Security benefits will be required to cover health costs.
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