Karolos Arapakis of the Center for Retirement Research at Boston College recently released a brief (adapted from a longer paper) that addressed the question: how much do retirees pay in lifetime out-of-pocket health costs, excluding premiums and including long-term care?
The finding: a 65-year-old single person will pay, on average, about $56,250 in out-of-pocket costs over their remaining lifetime (in 2021 dollars). For a couple, that figure is $80,000. At the 90th percentile of such spending, the total is about $111,250 for single people and $163,750 for couples.
Recommended Reading
Thanks for reading!
New to Investing? See My Related Book:
|
Investing Made Simple: Investing in Index Funds Explained in 100 Pages or Less
|
Topics Covered in the Book:
- Asset Allocation: Why it’s so important, and how to determine your own,
- How to to pick winning mutual funds,
- Roth IRA vs. traditional IRA vs. 401(k),
- Click here to see the full list.
A Testimonial:
“A wonderful book that tells its readers, with simple logical explanations, our Boglehead Philosophy for successful investing.”
– Taylor Larimore, author of The Bogleheads’ Guide to Investing
September 5, 2022
