Americans need to consider healthcare, long-term care, inflation, and hidden costs in retirement planning.

From Yahoo Finance: 2025-04-20 06:03:00

Half of Americans have not calculated their retirement needs, according to a 2024 survey. Fidelity predicts healthcare costs for a 65-year-old at $165,000. Medicare doesn’t cover all expenses, like dental care or home health aides. Long-term care can be costly, with insurance policies averaging $950-$2080 annually. Inflation and hidden costs must be considered in retirement planning. Social Security benefits adjust for inflation, but a diversified portfolio is crucial for combating rising living costs. Delaying Social Security can increase benefits by 8% per year until age 70. Consulting a financial advisor is recommended to develop a suitable asset mix and generate income for retirement.



Read more at Yahoo Finance: 3 retirement risks that older Americans often forget to budget for. How to protect your nest egg