Client and Financial Advisor David Snapp of Edward Jones speaking with Nike Roach of 6th Sense Health and Wellness about options available for people looking at funding their healthcare closer to retirement
For Americans looking to retire in the near future or not even thinking of retirement, it is never a bad time to start considering a retirement health plan to ensure that retirement can be fulfilling no matter what retirement looks like for a specific person. No one wants to spend all of their retirement dealing with health issues so consider these tips that anyone can use to prevent serious complications or at least be prepared for them.
Makes sure you have enough saved up
traditional IRA. For these smart fools, they are in good shape to have probably saved enough money to
cover their most medical expenses not covered by insurance. DO NOT COUNT ON SOCIAL SECURITY TO COVER MEDICAL EXPENSES! For many people social security will not be able to even cover half the cost of health bills. It is never too late or too early to start saving for retirement and this includes a healthcare fund.
Make sure your health care provider knows your plans
It is never a bad idea to consult a medical professional about future plans regarding your health. Asking questions about exercise routines, daily habits, and possible changes to your everyday life can pay off in the long run and lead to a more enjoyable and longer retirement.Keep moving Exercise, Exercise, Exercise! Even if it is only three or four times a week, it is best to stay moving. The
number one killer of retired Americans is a sedentary lifestyle that leads to other health complications.Anything from a morning or evening walk to yoga, even a massage to loosen the joints and muscles can be extremely helpful to maintaining an aging body. It is highly recommended to consider adding consistent movement into any health plan.
Make sure you don’t out-live your funds
Yup, that right! A new problem facing Americans these days is outliving the retirement fund. Through the wonders of modern medicine, people are living longer now. The average life expectancy for a 60-year-old non-smoking American male is 84 (female is 87) and if you are younger than 60 expect to live even longer. This is why it is important to speak with an experienced financial advisor. They can help anyone plan for the potentially 25 years of retirement.
Reduce your cost of living
A highly esteemed financial advisor once said “Structure your finances so that you never need to buy cat food when you don’t own a cat.” It sad but true, humans are capable of living off of cat food, all be it a ery sad existence when cat food become the main source of nutritional value. Sometimes the best plan is to save for the future and not spend in the present. What this means is that it might not be a good idea to buy that new car because no one wants to live on cat fo