Reported 12 months ago
As Taiwan's average life expectancy increases in an aging society, healthcare expenditures are expected to rise, urging individuals to start saving for retirement in their 40s to 50s. Data shows that elderly household consumer price index (CPI) has been consistently higher than the general CPI, escalating the difficulty of saving for retirement due to inflation and low wages. Experts emphasize the importance of early retirement planning to cope with the significant healthcare costs that come with old age, especially as statistics reveal medical expenses for the elderly are 6.4 times higher than for young people. Recommendations include early investment in health and long-term care insurance and creating additional cash flow post-retirement to prepare for the financial challenges of aging.
Source: YAHOO