For the first time, the total bill for the typical family of four with an employer-sponsored health-care plan (a preferred provider plan with co-pays and deductibles) breached $20,000 in 2012.
What's the best way to hedge against the risk of higher inflation rates? The timing is murky, but it's a prudent bet to anticipate a resurgence in inflation.
It's striking how well the old rules for managing money hold up. We forget that these insights were forged during scary times, such as the Great Depression of the 1930s and the Great Inflation of the 1970s.
The mutual fund giant Fidelity calculates that a 65-year-old couple retiring in 2012 will need around $240,000 to cover medical expenses through their retirement. Ouch!
When estimating expenses in retirement, it's good to think about family and friends, as well as the mortgage, utilities, food, clothes, and other financial-planning staples.