“OK,” Jodi stiffens while trying not to sound defensive. “Please show me what she sent.”
Jackson nudges the article toward his wife. “I know Nicole shared it with Erik. According to the Fidelity Retiree Health Care Cost Estimate, a couple aged sixty-five who retired back in 2020 needed approximately $295,000 saved after taxes to cover health-care expenses in retirement. For affluent investors, that number could rise to $320,000 or more depending on state taxes. The article warns that many people assume Medicare will cover all health-care costs in retirement, but apparently it doesn’t. This chart illustrates that about fifteen percent of the average retiree’s annual expenses will be used for health care–related expenses. It’s a pretty eye-opening article, Jodi.”
“I had no idea.” Jodi leans in with a concerned look on her face. “That’s a big chunk of money.”
“Exactly.” Jackson nods. “Can you imagine if our own health deteriorates or if we simply have the good fortune, like your parents, to live long enough to experience the effects of getting older and then cause this same concern for our children?”
“Yeah,” Jodi agrees, “everyone hopes to live a long and healthy life, but it looks like it’s going to take some additional planning to stretch our nest egg.”
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