Top 10 Misconceptions About Saving for Medical Care in Retirement

  1. Workers just aren’t estimating how much health care will cost them in retirement.
  1. People with just a high school education or less, and whites, are slightly more likely than those who went to college, and blacks, to have attempted to figure it out.
  1. Millennials are the most likely to underestimate health care costs in retirement.
  1. They have surprisingly unrealistic expectations about where they’ll get the money to pay for medical care.
  1. Despite their potential, HSAs just aren’t feasible for many because of their income.
  1. A few are planning on using an inheritance to pay for medical bills in retirement.
  1. Women don’t know, guess low.
  1. Men don’t know, but guess higher.
  1. The highest-income households are most likely to have tried to estimate medical cost needs during retirement.
  1.  Where they live doesn’t seriously affect their estimates, although it will seriously affect their cost of care

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In the case of your 4th quarter health care, what you don’t know can hurt you. Call us to get educated. 603-431-2393

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