Study Shows Health Care Costs are a Major Risk in Retirement
The Center for Retirement Research at Boston College just published a study that examines the distribution of health spending after age 65.
The results are eye-opening and should serve to reinforce the fact that health costs are one of the major risk factors for retirees.
The findings include:
- Excluding nursing home care, a typical couple at age 65 can expect to spend over its remaining lifetime $197,000 with a 5 percent risk of their spending exceeding $311,000.
- When including nursing home care, the same typical couple at age 65 can expect to spend $260,000 with a 5 percent risk of their spending exceeding $570,000.
Source: The Center for Retirement Research at Boston College
