Benefits October 6, 2016
Participants Want Retirement Planning to Include Health Care Costs
They also believe their financial future is largely dependent on their physical well-being.
Reported by Lee Barney
Eighty-one percent of Americans believe it would be very or extremely valuable for their financial adviser to include health care costs in their retirement planning, according to research by Transamerica and Luntz Global Partners.
When asked what is the most essential for their financial future, 37% said their health, followed by happiness (19%), security (19%), peace of mind (16%) and independence (9%).
The research is based on a survey of 1,000 adults and focus groups held throughout the country, which required the participants to have a minimum household income of $75,000 and investable assets of $50,000 or more.
A recent survey by Edward Jones found that 60% of Americans are worried about paying for health care costs in retirement. Fidelity projects that a couple retiring this year will need $260,000 to pay for their health care costs throughout their retirement, a 6% increase from 2015.
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