8 Mistakes That Can Sabotage Your Retirement

You can head off some of the worst financial blunders in retirement by being aware of them, then taking action.

Mistake No. 1: Failing to plan for medical expenses

Lisa F. Young / Shutterstock.com Lisa F. Young / Shutterstock.com

Medicare kicks in at age 65, but that’s not the end of your medical expenses. Fidelity estimates a couple, both age 65, who retire in 2018 will need $280,000 of their own money for medical expenses over the course of retirement. Such costs include deductibles for Medicare Part A and Part B (in-patient and out-patient insurance), and premiums and out-of-pocket costs for Medicare Part D prescription drug coverage.

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