Picture this: a serene retirement… until suddenly, the funds start running out. 😧 Here are some clues that you might not have saved enough:
- Long-Term Care: Are You Ready?
A majority of 65-year-olds might need some form of long-term care. And guess what? It ain’t cheap. We’re talking around $54,000 in 2021 for a year in a care facility!
But don’t worry You’ve got options: insurance policies, certain annuities, and more. Seek advice from someone who knows their way around long-term care.
- Thinking You’ve Got Limited Time Left? Think Again!
Many 65-year-olds today might reach the big 90. So, if your retirement fund is good for 20 years but you’re partying for 30, there’s a money gap.
Tip: Try out Livingto100.com to guesstimate your lifespan. Plus, have varied income sources in retirement. Mix things up!
- Healthcare Bills, Anyone?
Healthcare’s a sneaky one. You might end up needing more than $250,000 just for this. And a couple entering retirement in 2022? They might need about $315,000!
The key? Account for these big numbers in your planning. Also, when you hit retirement, choose the best Medicare option for you.
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