A typical senior will spend about $650 per month, or roughly 13% of their total household budget, on out-of-pocket healthcare costs. If something serious comes up, costs continue to climb. You might think your retirement planning had everything covered, but more seniors are finding themselves putting off trips and not enjoying retirement as much because they have to pay so much money to maintain their health. That said, many older adults are fighting back by starting a separate fund for healthcare expenses. Here’s what is behind this trend and how it could be a game-changer.
