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Don’t Make Me Say I Told You So 43

According to “The Unsustainable Cost of Healthcare,” a
study by the Social Security Advisory Board, “the rising cost

of healthcare represents perhaps the most significant threat
to the long-term economic security of workers and retirees.” 1

The Advisory Board goes on to say: “For today’s retirees... who
are expected to live another 20 years or more, and for younger

workers in their 30s, who will not begin their retirements until
mid-century, unrestrained healthcare costs would likely mean a

decline in their standard of living.” $250,000 and $280,000

In fact, according to Fidelity Investments, the average couple

retiring in recent years needed between $220,000 and $250,000

over the course of retirement just to cover medical expenses. 2
You read that correctly – almost a quarter of a million dollars
just to cover medical expenses. delete 2

Health care costs in retirement for a 65 year-old couple

$300,000
$280,000

$250,000

$200,000

$150,000
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Source: Fidelity Investments. These are estimates for the last 16 years that Fidelity has been calculating this dollar amount.

Chapter 2: You’ll Need More Money Than You Think