A 65-year-old couple retiring in 2022 will spend an average $315,000 in health-care and medical expenses in their retirement, according to Fidelity Investments. That’s 5% higher than last year.
Don’t panic, those estimates are based on spending over 25-30 years. Add up any ongoing expenses over that period of time and you will get a big number.
Over my retirement years, based on current expenses, my property taxes may well equal $360,000 and my HOA fees another $313,200.