Money for health care in retirement
September 3, 2009 by Jennifer Chait
Filed under retirement, saving money
In a recent CNN, one couple’s needs (facing retirement and health cost issues) were tackled. Health-care costs in retirement can be substantial and should be a huge consideration of yours now, not later. Even if you have good health now circumstances can change, and if you do have health issues now than planning for the future can seem much harder.
In this recent money makeover, a couple Jim and Cindy, are trying to plan for retirement and figure in the costs of dealing with Jim’s Type 1 diabetes and the risks associated with this disease, and Cindy’s Crohn’s disease, an intestinal autoimmune illness.
Jim and Cindy are 47, and want to retire at 58 and according to the CNN experts, the three main things should do include…
- Save for insurance now.
- Get covered for the worst case – i.e. plan for the worst.
- Stay on a payroll.
Excellent tips and well worth a read even if you think you’re too young to be thinking about retirement. See details on the three tips above at CNN.
A recent study by the American Association of Long Term Care Insurance found that women more likely than men are unprepared for health care in retirement. For more information visit my blog
http://blogs.newretirement.com