Can you name the number one cause of bankruptcy?
The answer is unpaid medical bills.
It seems that U.S. bankruptcies resulting from unpaid medical bills affect nearly 2 million people a year.
About 1 out of 5 will struggle with healthcare-related bills during their lifetime.
Around 11 million people will take on credit card debt to pay for medical bills… and 15 million will lose their savings to medical-related bills!
Fidelity updates their estimate of health care costs on a regular basis. Their Retirement Health Care Cost Estimate projects that a couple, both aged 65 and retiring in 2015, should expect to spend an estimated $245,000 on health care.
That figure has increased 29 percent since 2005 when it was $190,000.
A quarter of a million-dollar hit on your capital can put a strain on your future financial security. And that doesn’t include the high cost of long-term care.
You can’t control the increases in the future cost of medical expenses or long-term care.
You can control whether you are better prepared.
We are happy to show you how.
Fill out the form below so we can help you get started with a free guide on retirement planning.
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