1)  1 in 3 retirees report higher expenses than anticipated.¹

2)  20% of retirees find that extended care cost, which Medicare does not cover, are much higher than expected.¹

3)  86% of retirees-to-be expect Social Security to be a significant factor in their retirement, when in reality 94% of retirees find it their most important source of income.¹

4)  While about half of workers believe they will retire at age 65 or older, the actual median retirement age is 62.²

5)  More than half of people approaching retirement describe debt as a problem and many make debt reduction a primary goal.²

6)  Private health care costs can be more expensive than expected.  With that in mind, it's a good idea to have a financial strategy in place for these and other cost.

HERE'S THE GOOD NEWS:

It's never too late to update your

retirement strategy, especially as your

medical needs change.

Sources:

1. EBRI.org, 2022

2. Genworth, 2022