As you approach retirement, you may be eagerly anticipating new opportunities: to pursue more travel, explore new hobbies, get involved with the community, or spend more time with family. You are about to enjoy one of the longest, most active retirements in the history of our country, one that may last 20-30 years. In some cases this is as many years as you spent working.
A longer retirement is great news but you need to ensure that you understand and anticipate the events that might affect your retirement income plan. One of the biggest concerns of today’s retirees is the rising cost of healthcare. Clearly, while all of your future healthcare expenses can’t be predicted, your retirement income plan should take them into account. We understand both your concerns and the importance of a solid retirement income strategy designed to get you where you want to go as you transition into retirement. Through our relationship with MetLife we understand that such a strategy is not only about generating an income stream that makes the most of what you have; it’s also about protecting that income stream throughout your retirement.
3 things to consider:
If you will have retiree healthcare benefits from your employer, understand what will be covered and how much it will cost. If you will not have such benefits, determine what healthcare coverage options will be available to you at retirement.
Get the details on Medicare and Medicare related programs designed to provide for healthcare expenses at age 65 and beyond.
Learn how to prepare for other significant healthcare related expenses that may not be covered by your healthcare plan.
( Excerpt from Understanding Retirement Healthcare Expenses, MetLife)
Originally posted 2014-09-08 12:42:18.