35 Retirement Planning Mistakes That Waste Your Money

Not Planning for Medical Expenses

Healthcare in retirement rarely comes cheap. Fidelity Investments estimates that a couple retiring in 2017 should expect to spend approximately $275,000 on medical expenses throughout retirement. This number is $15,000 more than the predicted healthcare costs from 2016.

With healthcare expenses increasing each year, it’s important to factor in medical costs when budgeting for retirement. Opening a health savings account can help ensure you are socking away enough.