There are two aspects to planning for healthcare-related costs during your retirement. Matthew Dixon, a Registered Financial Consultant, works closely with clients to ensure they have the investment plan in place to help offset the costs of health-related issues as people age.
What to Consider
Using the latest information from insurance companies and health service industry reports, Matthew Dixon can provide information to clients throughout Seneca, SC, on the average costs for individuals and couples.
For example, in a recent 2020 study, a couple retiring at 65 in 2020 should plan for just under $300,000 in healthcare costs over the rest of their lives. This does not include the cost of long-term assisted living or nursing care, which adds an additional median cost of just over $105,000 per year.
If there are specific health issues in a family, it is important to consider how that may impact your healthcare needs in the future. Planning for these additional costs helps to reduce the stress for both you and your family.
Planning for the Future
Medicare does provide some support for seniors. However, individuals and couples will have gaps in coverage that they will have to pay out of pocket. The most significant of these is the cost of long-term care, which is an average of just over two years for most seniors.
The good news is that Matthew Dixon can work with clients in Seneca, SC, to plan for these costs. This includes considering the right insurance coverage, maximizing the benefits of compounding interest, and ensuring your retirement plan is optimized by saving on taxes to increase your investments.
To review your retirement plan or to get started saving for retirement, schedule a meeting with Matthew Dixon in Seneca, SC. Details on our process and our services can be found at website
