Creating a "Healthy" Plan for Retirement
Strategies for paying your share of health care costs
Health care isn’t only one of the biggest retirement expenses—it’s also the toughest to budget. How long will you live? What kind of care will you need? Where will prices be then?
Because it’s hard to know those answers, it can also be hard to know how much to set aside for health care. You don’t want to save so little that you can’t cover the costs or so much that it jeopardizes other goals.
Average Annual Out-of-Pocket Health Care Costs Per Retiree
You can’t always predict health care costs, but you can prepare for them. A sound plan combines investments with insurance to help pay the bills without jeopardizing retirement.
Four investing variables—and how they relate to health care
Investments earmarked for health care should be in line with your overall risk tolerance
Insurance premiums and medical costs are largely beyond your control
Medicare eligibility begins at age 65; early retirees may need to buy insurance
Increasing monthly savings is the best way to prepare for health care costs
Not all investment ideas referenced are suitable for all investors. Investing involves market risk, including the possible loss of principal. There is no guarantee that investment objectives will be reached. Diversification does not guarantee a profit or protect against a loss.
Opinions and estimates offered constitute our judgment as of the date of this material and are subject to change without notice, as are statements of financial market trends, which are based on current market conditions. We believe the information provided here is reliable, but do not warrant its accuracy or completeness. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The views and strategies described herein may not be suitable for all investors. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, accounting, legal or tax advice. References to future returns are not promises or even estimates of actual returns a client portfolio may achieve. Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation.
Investment products and services are offered through J.P. Morgan Securities LLC (JPMS), a registered broker-dealer and investment advisor, member of FINRA and SIPC. Annuities are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. JPMS, CIA and J.P. Morgan Chase Bank, N.A. are affiliated companies under the common control of JPMorgan Chase & Co. Products not available in all states.
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