‘Senior Inflation’: The Not-So-Silent Retirement Killer

Health care costs are a huge part of retirees’ financial picture, and they keep jumping at a rate faster than other prices overall. Here are some strategies to cope.

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While overall inflation may remain subdued for years, health care costs and other related items that affect retirees the most continue to rise at a sharp pace. According to the Bureau of Labor Statistics — the government agency that provides Congress the data that they use to determine increases in Social Security, Medicaid and Medicare — health care related costs have risen by nearly 4% annually over the past decade, a pace nearly double that of overall inflation.

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Oliver Pursche, Investment Adviser Representative
CEO, Bruderman Asset Management

Oliver Pursche is the Chief Market Strategist for Bruderman Asset Management, an SEC-registered investment advisory firm with over $1 billion in assets under management and an additional $400 million under advisement through its affiliated broker dealer, Bruderman Brothers, LLC. Pursche is a recognized authority on global affairs and investment policy, as well as a regular contributor on CNBC, Bloomberg and Fox Business. Additionally, he is a monthly contributing columnist for Forbes and Kiplinger.com, a member of the Harvard Business Review Advisory Council and a monthly participant of the NY Federal Reserve Bank Business Leaders Survey, and the author of "Immigrants: The Economic Force at our Door."