Are you saving enough for retirement? The best way to find out is to develop a detailed estimate of your future expenses. It’s best to include your fixed costs for housing, food, health insurance, utilities and transportation, along with what you’d like to spend on travel, leisure and other retirement aspirations. Use our worksheet to pinpoint how much income you may need to generate in retirement to keep up with your plans.
Q&A with Chad Terry, a director of investment and retirement education at BlackRock. Here is his advice for the best ways to share your estate plan with your loved ones.
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Here are four common misconceptions about Medicare, the federal government’s health insurance program for people who are 65 and older or disabled, that trip up people heading into retirement – and the realities you really need to know. To start:
Myth 1: Medicare covers long-term care.
Reality: At least 70% of people over age 65 will need long-term care, but Medicare doesn't cover most custodial care costs that make up a large amount of long-term care expenses.
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