It’s no secret that health care will likely be one of your larger expenses once your career ends and your retirement plan kicks in. The average cost of health care begins to rise around age 55. Those expenses add up over time; a 65-year-old who retired in 2025 will spend an average of $172,500 on health care throughout retirement, according to Fidelity.
Unsurprisingly, many people worry about paying for future health care needs. In a recent Nationwide survey, 64% of Americans said they’re terrified of what health care costs might do to their retirement plans.
