US retirees need US$130,000 just to cover healthcare
6% up from last year, with medical costs ballooning - mainly due to high-priced prescription specialty drugs
New York
TODAY'S 65-year-olds in the US can expect to spend an average of US$130,000 on healthcare during their retirement, from premiums to co-payments to eyeglasses, according to new estimates.
The average single 65-year-old woman can expect to need US$135,000 to spend on healthcare in retirement, while a man will spend US$125,000, according to estimates from Fidelity Investments. (The difference is because the woman is expected to live longer - an additional 22 years, versus 20 years more for the man.)
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South Korea’s public finances no longer a credit rating ‘strength’: Fitch
UK consumer confidence improves as inflation and taxes fall
Inflation in Japan’s capital falls below BOJ target, slows for second month
China firms are investing abroad at fastest pace in eight years
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs