You’ve heard this before, I know, and yet it remains as disturbing as ever. Health care costs, along with housing, are likely to be your biggest expenses in retirement. Boston-based Fidelity Investments found that premiums, deductibles and other out-of-pocket expenses could cost a 65-year-old couple retiring today a jaw-dropping $220,000 – and that’s in addition to Medicare premiums.
You need some expensive medical care yet don't have the insurance or money to pay for it. Should you use a medical credit card that's pitched at some doctors' offices?
Too many workers are using their 401(k) savings plan as a piggy bank, tapping it way before retirement for reasons such as to pay off debt, remodel their home or take a vacation they couldn't otherwise afford.
Are you and your spouse thinking about retiring early? Doing so can cost you, as a couple, an extra $17,000 a year in medical costs, according to a Fidelity Investments analysis.
Cheering their new grads at college commencements this month, parents will likely give another hurrah: No more tuition! But there's another cost that might well linger on for parents of high school and college grads: the cellphone bill.
Whether you're nearing the end of your working life or still several decades away, Americans all share the same financial fear: Will I have enough money to retire?
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