Page 206 - FlipBook BACK FROM SARAN - MAY 5 2020 - Don't Make Me Say I Told You So_6.14x9.21_v9_Neat

192 Don’t Make Me Say I Told You So

Although anyone can experience a healthcare crisis at any
point in their lives, we become more and more vulnerable to

unexpected medical issues as we age. These medical crises
often result in financial setbacks or hardship for both the

person with the health problem and their family. Even those
fortunate enough to have a good health insurance plan, a major

healthcare problem may result in large payments out of their
own pocket for medical care.

An estimated 530,000 families turn to bankruptcy each year
because of medical issues and bills, the research found.

Source: CNBC, 2019

A 2018 study from Fidelity Investments found that a 65-year-
old married couple will need $280,000 for medical expenses in
retirement, which doesn’t even include the cost of nursing-

home care.

Chapter 5: Things That Can Wreck Your Retirement