Examining the current health care landscape
Health care expenses may be one of the most underestimated yet significant financial challenges to living the retirement lifestyle you envision. Explore our RBC Wealth Insights report “Taking control of health care in retirement” to learn how you can prepare for your future, today.
When it comes to planning for your retirement health care costs, the choices you make now can help you get a head start on having sufficient resources for the health care you may someday need.
80% of respondents indicated worries over their ability to fund health care expenses in retirement. Although this concern spanned all demographic categories, women and college-educated were more likely to be concerned.
Despite this anxiety, only about half of our survey group have taken the time to factor health care expenses into their plan. Among the group that hasn’t planned for health expenses, more than half say they have no wealth plan for retirement at all.
Of the group that took action to factor health care expenses into their plan, half believed they underestimated the true cost.
Due to longevity and prevalence of chronic diseases like dementia, women need to plan to spend more on health care as they age.
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Nancy Carlson’s life took an unexpected turn when her husband of 30 years started making a series of bad financial decisions.
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