Health Care in Retirement
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Affording Health Care in Retirement

Survey: 64% of Americans were expected to retire broke. Survey: Only 38.1% were saving specifically for the cost of health care in retirement. Average retiree is thought to spend $4,300 on health care each year, although specific conditions and treatments can certainly affect this amount. Only 20.9% of people earning less than $50,000 said they believed they would have sufficient savings for retirement. Nearly 23% planned to use a health savings account (HSA) – or tax-advantaged account – a relatively more effective option than a personal savings account.

THE JOURNAL OF RETIREMENT
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THE JOURNAL OF RETIREMENT

Imagine a retirement projection with an initial portfolio amount, home, and mortgage. Add an Reverse Mortgage Line of Credit(RMLOC) as a “non-traditional” asset. This leads to an expanded and more holistic view of asset allocation in retirement with primary asset classes of equities, bonds, homes, and RMLOC loan balance, along with SPIAs and reverse mortgage tenure payment plans.