Healthy Body, Healthy Pocketbook

Healthy Body, Healthy Pocketbook

People save for a variety of things in retirement. Some dream of vacation homes in tropical destinations, others plan to spend time with grandchildren and family. Of all the activities you are saving for in retirement, did you know that health care may have the biggest price tag? One study found that a 65-year-old couple can expect to spend an average $250,000 on health care in retirement.1

Thankfully, your retirement health costs are not set in stone. Of course, you won’t have total control over your health in retirement, but there are things you can do to manage your health risks and potential costs. Here are a few tips.

Tip: Healthy Targets. Generally speaking, cholesterol should be 200mg/dL or lower. And a good blood pressure level is 120/80 mmHg or less.

Get informed — Medical expertise and advice are constantly changing. Keep yourself up-to-date on healthcare news, particularly with regard to issues that have affected you or those related to you. Ask your doctor to help you identify areas of particular concern.

Develop (or maintain) a healthy lifestyle — This boils down to simple wisdom: eat healthy, exercise regularly. Limit fats and sugars and increase your intake of whole grains, fruits, and vegetables. If you haven’t already, embark on an exercise program you can stick with long term. If it’s been a while since you last exercised, consult with your doctor before you begin. Start slowly and work up to your goals.

Relax — Stress can be detrimental to your health. Maintaining friendships, focusing on hobbies, and taking time to relax may help ensure good mental health. In fact, research shows that staying socially active in retirement can alleviate stress and reduce the risk of depression. It may also aid in the prevention of Alzheimer’s disease.

Fast Fact: No Need? Nearly 20% of working Americans believe they don’t need to save
any money for health-care expenses in retirement.
www.money.usnews.com,
September 8, 2010

Learn your numbers — Staying healthy means monitoring a few key numbers. You should know your blood pressure, cholesterol, and body mass index (BMI). Your blood sugar level indicates your risk for diabetes. Your doctor can perform simple tests to help you identify these numbers and recognize any vulnerability you may have.

Get preventative care — Preventing a disease or illness can be much less expensive (and painful) than treating one. As recommended by your doctor, take advantage of free or low-cost diabetes and heart disease screenings, mammograms, and vaccinations. And make sure to get your annual physical.

There is no way to guarantee you won’t have unexpected healthcare costs in retirement. But maintaining a healthy lifestyle can help you reduce possible health-related expenses—not to mention avoid spending precious time in the recovery room.

Watch Out, Florida

One recent study used a variety of quality-of-life measures to identify the best cities for seniors. The results might surprise you.

Healthy Body, Healthy Pocketbook

  1. Minneapolis
  2. Boston
  3. Pittsburgh
  4. Cleveland
  5. Denver
  6. Milwaukee
  7. San Francisco
  8. Portland, OR
  9. Kansas City, MO
  10. Newark, NJ

Source: www.money.usnews.com, September 29, 2011

1. www.money.usnews.com, September 8, 2010

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright 2013 FMG Suite.

Post by Phil Ratcliff

Phil Ratcliff, President of rebel Financial, is a senior financial advisor that holds an AIF®, CFP®, ChFC®, and CLU® certifications. He started his career at American Express Financial Advisors in 2003, then moved to AXA Advisors for 7 years before founding rebel Financial LLC in 2013.

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