The Staggering Cost of Long-Term Care and Medical Care in Old Age
A typical 65-year-old couple will need to save nearly $400,000 to pay for out-of-pocket medical care and long-term care in old age, according to new estimates by the Fidelity Benefits Consulting. That is $60,000 more than a typical couple’s entire savings at retirement, including equity in their home. Fidelity estimated an older couple will need to put away an average [...]