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Kandungan disediakan oleh Ralph V. Estep, Jr. and Ralph V. Estep. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh Ralph V. Estep, Jr. and Ralph V. Estep atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.
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How much money do I need to have saved to cover health care costs in retirement?

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Manage episode 445715981 series 1791561
Kandungan disediakan oleh Ralph V. Estep, Jr. and Ralph V. Estep. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh Ralph V. Estep, Jr. and Ralph V. Estep atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.

Are you worried about the staggering healthcare costs in retirement? Ralph dives into the critical question of how much money you really need to save for medical expenses as you age, highlighting that the average couple retiring in 2023 should expect to spend around $315,000 on healthcare. With many retirees facing financial ruin due to unexpected medical bills, Ralph shares eye-opening stories and practical advice to help you avoid such pitfalls. He emphasizes the importance of planning ahead, using real-life examples of clients who either flourished or floundered based on their healthcare strategies. Tune in for actionable steps you can take now to secure your financial future and ensure peace of mind in your golden years. Healthcare costs in retirement are not something you want to leave to chance.

https://www.askralphpodcast.com/health-care-costs-in-retirement/

Podcast Timestamps:

00:00 Episode Overview

01:57 Listener’s Question: Maggie’s Concerns About Healthcare Costs

02:50 Bible Verse: Ecclesiastes 11:2 – Planning for Future Costs

03:40 Real-Life Story: John’s Financial Struggle with Medical Expenses

07:33 Breaking Down the $315,000 Health Care Cost in Retirement

08:32 Key Factors to Consider for Healthcare Costs in Retirement

11:48 Real-Life Story: Tom & Linda - Comprehensive Healthcare Plan in Retirement

15:12 Practical Steps to Prepare for Health Care Costs in Retirement

19:07 Recap and Closing

Takeaways:

  • Healthcare costs in retirement can average around $315,000 for a 65-year-old couple, which is a significant amount.
  • Planning ahead is crucial to avoid financial disaster due to unexpected medical expenses later in life.
  • Using Health Savings Accounts (HSAs) can provide tax-free savings for healthcare costs, making them a smart tool for retirement planning.
  • Medicare does not cover all healthcare expenses, including long-term care and many services, leading to potential financial gaps.
  • Understanding your family health history and managing your health can significantly impact retirement healthcare costs.
  • Working with a financial advisor can help create a personalized plan to prepare for healthcare expenses in retirement.

Links referenced in this episode:


Companies mentioned in this episode:

  • Fidelity

LISTEN NOW

WATCH NOW ON YOUTUBE (OUR VIDEO VERSION)

WATCH NOW ON RUMBLE (OUR VIDEO VERSION)

VISIT OUR ASK RALPH SHOW GEAR STORE FOR ALL KINDS OF COOL MERCHANDISE - ENTER THE CODE "FREEBOOK" FOR A FREE DOWNLOADABLE COPY OF MY BOOK "MASTERING YOUR FINANCES"

JOIN OUR FACEBOOK INSIDERS GROUP

Please share our Podcast with all your friends and family!

Submit your questions or ideas for future shows - email us at

ralph@askralph.com or leave a voicemail message on our podcast page

Leave A Voicemail Message

Like us on Facebook and follow us on Facebook at

https://www.facebook.com/askralphmedia Twitter (@askralphmedia) or visit www.askralphpodcast.com for more information.

To schedule a consultation with Ralph's team, contact him at 302-659-6560 or go to www.askralph.com for more information!

Buy Ralph's Book - Mastering Your Finances! on Amazon

Buy Ralph's Book - Gospel of Entrepreneurship: Following Jesus in Your Business Journey on Amazon

  continue reading

532 episod

Artwork
iconKongsi
 
Manage episode 445715981 series 1791561
Kandungan disediakan oleh Ralph V. Estep, Jr. and Ralph V. Estep. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh Ralph V. Estep, Jr. and Ralph V. Estep atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.

Are you worried about the staggering healthcare costs in retirement? Ralph dives into the critical question of how much money you really need to save for medical expenses as you age, highlighting that the average couple retiring in 2023 should expect to spend around $315,000 on healthcare. With many retirees facing financial ruin due to unexpected medical bills, Ralph shares eye-opening stories and practical advice to help you avoid such pitfalls. He emphasizes the importance of planning ahead, using real-life examples of clients who either flourished or floundered based on their healthcare strategies. Tune in for actionable steps you can take now to secure your financial future and ensure peace of mind in your golden years. Healthcare costs in retirement are not something you want to leave to chance.

https://www.askralphpodcast.com/health-care-costs-in-retirement/

Podcast Timestamps:

00:00 Episode Overview

01:57 Listener’s Question: Maggie’s Concerns About Healthcare Costs

02:50 Bible Verse: Ecclesiastes 11:2 – Planning for Future Costs

03:40 Real-Life Story: John’s Financial Struggle with Medical Expenses

07:33 Breaking Down the $315,000 Health Care Cost in Retirement

08:32 Key Factors to Consider for Healthcare Costs in Retirement

11:48 Real-Life Story: Tom & Linda - Comprehensive Healthcare Plan in Retirement

15:12 Practical Steps to Prepare for Health Care Costs in Retirement

19:07 Recap and Closing

Takeaways:

  • Healthcare costs in retirement can average around $315,000 for a 65-year-old couple, which is a significant amount.
  • Planning ahead is crucial to avoid financial disaster due to unexpected medical expenses later in life.
  • Using Health Savings Accounts (HSAs) can provide tax-free savings for healthcare costs, making them a smart tool for retirement planning.
  • Medicare does not cover all healthcare expenses, including long-term care and many services, leading to potential financial gaps.
  • Understanding your family health history and managing your health can significantly impact retirement healthcare costs.
  • Working with a financial advisor can help create a personalized plan to prepare for healthcare expenses in retirement.

Links referenced in this episode:


Companies mentioned in this episode:

  • Fidelity

LISTEN NOW

WATCH NOW ON YOUTUBE (OUR VIDEO VERSION)

WATCH NOW ON RUMBLE (OUR VIDEO VERSION)

VISIT OUR ASK RALPH SHOW GEAR STORE FOR ALL KINDS OF COOL MERCHANDISE - ENTER THE CODE "FREEBOOK" FOR A FREE DOWNLOADABLE COPY OF MY BOOK "MASTERING YOUR FINANCES"

JOIN OUR FACEBOOK INSIDERS GROUP

Please share our Podcast with all your friends and family!

Submit your questions or ideas for future shows - email us at

ralph@askralph.com or leave a voicemail message on our podcast page

Leave A Voicemail Message

Like us on Facebook and follow us on Facebook at

https://www.facebook.com/askralphmedia Twitter (@askralphmedia) or visit www.askralphpodcast.com for more information.

To schedule a consultation with Ralph's team, contact him at 302-659-6560 or go to www.askralph.com for more information!

Buy Ralph's Book - Mastering Your Finances! on Amazon

Buy Ralph's Book - Gospel of Entrepreneurship: Following Jesus in Your Business Journey on Amazon

  continue reading

532 episod

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