Healthcare costs in retirement are not free. Some people are under the incorrect assumption that once they reach age 65, then Medicare takes over and everything is covered. Not the case. yes, Medicare is in place, but there are still costs that Medicare does not cover. Check out this quick video from New Hampshire’s ABC affiliate WMUR-TV which discusses a few of the healthcare related costs that retirees may or many not incur.
Only 42% of people in the 50’s and 60’s have saved at least $100K. You need start saving for retirement as soon as possible.