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One of the most essential and basic questions of retirement planning, is the one that is
unfortunately also the most ignored: does your retirement plan cover health care issues? It is
important to start thinking about health care issues as you begin planning for your retirement
needs. Always remember that planning ahead will protect you and your family from the possibility
of having to pay considerable health care costs, or worse, being unable to afford health care or
long term care when you need it.
Always take the necessary steps to protect your financial future as well as to plan ahead for your
health care needs. As a generality however, most people do not pay enough attention to this very
important aspect of life planning. A large number of people, pre-retirees as well as retirees, readily
agree that health is one of the most important issues in retirement. However, almost no one really
spends enough time actually planning for health issues in retirement. Most pre-retirees do
undertake some kind of planning for the financial aspects of retirement, but seem to neglect
understanding and planning for health benefits options.
Planning for medical issues during retirement takes more than just planning the financial details. It
would, in fact, involve reevaluating your routine and budget, exploring the health care options, and
researching Health Savings Accounts, long term care options and life insurance options. Even
though most pre-retirees are willing to pay for prescription drugs and doctor's visits during their
retirement, they seem to have a very unrealistic view of what it will cost. Most people anticipate
costs to be less than $300 a month for health care-related expenses whereas, in reality, the
average retiree actually spends around $640 a month.
In short, most Americans are confused about health benefits and do not really plan for a healthy
retirement as well as a financially stable one. Most people don't even have a realistic idea of how
much money they spend on essentials each year. To help people like that, many websites offer a
health expense calculator that estimates your annual health expenses, including all your medical
costs, dental costs, ophthalmology costs, and the total amount spent on prescriptions, for the
entire family. These calculators can help you to understand how much money you would need, to
meet all your medical expenses.
They are, in fact, invaluable tools in planning health benefits and financial needs after retirement.
Having a retirement plan that covers health care issues is vital. The risks of both heart disease
and diabetes increase as we age. This is another reason why planning for retirement should
include a sensible diet, exercise, and active control measures against any chronic illness.
Research and gaining updated information would be an important step in making the right
decisions for a healthy post retirement lifestyle. There is also a major financial incentive, for

2. retirees to try to stay healthy - economics. A healthy lifestyle and healthy habits developed now
will be helpful in protecting your financial well being after retirement.
© 2008 Anna D. Banks, GCDF
Anna D. Banks, a passionate advocate for baby boomers in exploring their priorities, planning and
setting goals for the next stage of their lives. Assisting her clients to attract and build a
professional and personal life consistent with their values is not just a goal of Anna's, it's her
passion. Her diverse work experience in business, education and financial services enables her to
help the diverse population of baby-boomers with their life, career, and personal finance coaching
needs. Anna is currently Adjunct Faculty at Essex County College, where she teaches Career
Development & Management.
Author's Note: Do you have any questions about career development or lifestyle changes for
Baby Boomers, which you think others, like you, would want to know the answers? Please place a
post on http://babyboomer-retirement-tips.blogspot.com or email your questions to me at
Anna@AnnaBanks.com
Article Source:
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Learn about how to save for retirement and get access to a millionaire by retirement Excel
spreadsheet at:
http://proactinvest.net
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