Medical Expenses Loom in Retirement

Daily Stat | October 23, 2012 | Topics: Retirement 

13%: Workers very confident about their ability to afford medical expenses in retirement

No matter where you are in your life path, planning for future expenses can be difficult. A survey earlier this year by the EBRI found both workers and retirees are concerned about paying for medical costs in retirement. Only 13% of workers and 24% of retirees are very confident about paying for medical expenses in retirement. When talking about long-term care, those numbers decrease even further—to 9% of workers and 18% of retirees feeling very confident. This week is National Save for Retirement Week—a good time to reevaluate your savings plan if you're not feeling prepared for your retirement.

Source: Employee Benefit Research Institute, "The 2012 Retirement Confidence Survey: Job Insecurity, Debt Weigh on Retirement Confidence, Savings," 3/2012

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