
Never Too Late
Schwab Offers Integrated Solution for Advisers to Manage HSAs
The firm has teamed up with health care financial services providers Optum Bank and Discovery Benefits.
Seniors Worried Health Care Costs Will Outpace Retirement Savings
Women are even more concerned than men.
A Couple May Need $363,000 to Cover Health Care Expenses in Retirement
Medicare covers only 64% of the cost of health care for those 65 and older, according to EBRI.
Couple Retiring This Year Will Spend $285,000 on Health Costs
While Fidelity’s estimate is for a couple retiring in 2019, the firm says it’s also a call-to-action to younger generations.
End-of-Life Planning Outstrips Retirement Care Planning Among Baby Boomers
Two-thirds of middle-income Boomers know someone who has required retirement caregiving, either in their home or in a nursing home, yet few Boomers are taking action to plan for this likelihood.
Health Is a Top Priority for Americans in Retirement
Forty-four percent say that focusing on health and wellness is a primary concern, according to a survey by TD Ameritrade.
Americans Worry About Running Out of Money in Retirement
CPA financial planners say Americans are also concerned about maintaining their lifestyle and not being able to meet rising health care costs.
Education and Better Investments Needed to Propel HSAs to Retirement Savings Vehicles
The frequency of withdrawals prevents HSA account holders from building a meaningful balance to use for health care expenses in retirement, and individuals are unlikely to allocate their assets to investment products if their primary goal is to fund short-term medical expenses, Cerulli says.
Advisers Play a Key Role in Estimating Monthly Income in Retirement
Nearly all of those who work with an adviser feel they have prepared themselves well for estimating their monthly income needs in retirement, Voya Financial learned in a survey.
EBRI Reports Increased Savings Needed for Health Expenses in Retirement
At the extreme, EBRI estimates, out-of-pocket costs could reach $399,000 or more.
Modern Retirement Framework Must Consider Health Care Costs
Vanguard engaged Mercer Health and Benefits to develop a new model to forecast health care costs for U.S. retirees; the effort has resulted in a number of pragmatic recommendations for individuals and employers.
Retirement Planning Needs to Include Discussions About Health Care Costs
Nearly two-thirds of advisers say their clients expect advice on health care costs in retirement, and 34% say their clients would likely leave them if they didn't help them estimate and plan for out of pocket health care costs in retirement.
Planning for Health Care Costs in Retirement Is a Personalized Process
Vanguard has issued a new framework, jointly developed with Mercer, that helps pre-retirees and retirees with planning for annual health care costs and long-term care expenses in retirement.
Three Quarters of Americans Have Not Planned for LTC Needs
Yet nearly six in 10 say saving for long-term care is a financial priority
Few Americans Preparing for Long-Term Health Care Savings
Only 41% of consumers surveyed understand what long-term health care expenses will be in retirement, and only one-third are confident they are saving at an appropriate rate to cover long-term health care needs.