In your 60s with $70,000 in savings, Social Security benefits can be crucial. 27% of seniors rely on Social Security for 100% of their income. Data reveals seniors spend over $8,000 per year on healthcare. Fidelity estimates $165,000 is needed for out-of-pocket costs, and up to $100,000 yearly for long-term care.

Consider long-term care insurance to cover costs and avoid draining savings. Shopping around for health insurance can save money. Lowering medical care costs can help preserve retirement funds. Diversify your nest egg with a self-directed retirement account for alternative investments like real estate and cryptocurrency. Join 200,000+ readers for weekly Moneywise updates.

Read more at Yahoo Finance: We’re in our 60s, retired, have $70,000 in savings and Social Security of about $3,780/month. How can we survive?