A retirement budget can look complete while one of its least predictable categories sits inside a vague healthcare estimate. Regular premiums may be easier to anticipate, but out-of-pocket expenses and periods of higher medical spending can put very different pressure on retirement income.
Healthcare costs deserve their own place in the plan before earned income changes. John Mateyko is a Fiduciary Financial Planner and Managing Partner at IDEX Financial whose retirement-income and portfolio training can help connect future spending with the assets and income sources expected to fund it.
Separate Routine Costs From Irregular Costs
One annual healthcare number can hide two different spending patterns. Some expenses recur throughout the year, while others appear in larger amounts after a procedure, change in treatment, or another health event.
