Reported 1 day ago
As Americans approach retirement, many overlook crucial financial risks, including uncovered healthcare costs, long-term care expenses not covered by Medicare, and the impact of inflation. Planning ahead is vital, as healthcare can cost around $165,000 on average during retirement, and long-term care can be prohibitively expensive. Additionally, inflation can erode savings, making it essential to maintain growth in investment portfolios. It may also be beneficial to delay Social Security claims to increase benefits. Adopting a proactive financial strategy can help navigate these challenges and protect retirement savings.
Source: YAHOO