Will you be prepared for healthcare expenses when it finally comes time for you to retire?

As we get older, many people develop age-related ailments and need more medical care and find themselves coping with increased healthcare expenses. According to Employee Benefit Research Institute, a 65-year-old man would need $73,000 in savings to have a 50 percent chance of covering Medicare premiums and median prescription drug expenses during retirement and a 65-year-old woman would need $95,000 in savings to cover 50 percent chance of medical costs for the rest of her life.  These significant costs come from the fact that Medicare leaves you with a lot of out-of-pocket expenses. In Christy Bieber’s article appearing on the Motley Fool website, www.fool.com, she explains that many seniors simply aren’t aware of how much these expenses add up to so the sooner you prepare the better. Read Ms. Bieber’s article here…

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