Those turning 65 this year likely have retirement and savings on their minds. But do those savings already account for healthcare costs?
By the age of 65, the average retired couple — whether they’re enrolled in Medicare or not — needs to have $300,000 saved for healthcare expenses alone, according to the Fidelity Retiree Health Care Cost Estimate. In fact, Fidelity estimates that 15% of a retiree’s annual expenses will go to Medicare premiums and out-of-pocket costs.
