Originally Posted by
UASCOMPILOT
No way...my parents are 90 neither spent mor the 25k since retirement...625k really that's almost the cost of Steve Austin...I call BS
Well, a website promoting annuities probably has some incentive to inflate future expenses. The quote below is literally copied and pages from the source that article cited for those costs. While this seems much more reasonable than $625k, I would like to see both the mean and median numbers and how the cost distribution looks. Some percentage of people are going to have really low cost (like your parents) and some on the other end are going to have some really exorbitant expenses. The best any of us can do is make informed planning assumptions based on research, your own health history and risk tolerance.
Total lifetime health care costs for a healthy 65-year-old couple* retiring this year are projected to be
$387,644 in today’s dollars ($572,960 in future dollars). This includes premiums for Medicare Parts
B and D, supplemental insurance (Mediagap), and dental insurance, as well as out-of-pocket costs
related to hospitalization, doctor visits, tests, prescriptions drugs, hearing services, hearing aids, vision,
and dental.
*Average projected life expectancy of 87 for the male, 89 for the female
http://testing.hvsfinancial.com/hvsf...t-Planning.pdf