How You Can Tackle Health Care Costs in Retirement

Doctor visits and medications are only part of the challenge of health care costs — there’s also long-term care planning. Here’s what you can do.

A stethoscope and a piggy bank.
(Image credit: Getty Images)

Adequately planning for retirement is becoming a growing concern for Americans, and many worry they’ll have to be millionaires before they can stop working.

A recent study from Northwestern Mutual found that adults across the U.S. believe they will need $1.46 million to retire comfortably. That’s a 53% increase compared to the $951,000 many believed they would need back in 2020.

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Joel V. Russo, LUTCF
Author and Founder/Principal, NJ Retirement Planning, LLC

Joel Russo is a New Jersey native and has been in the financial services industry for more than 35 years. He is dedicated to helping his clients reap the rewards of a well-planned retirement. Unlike many financial professionals, Joel specializes in the retirement market, "the over-50 crowd” and has dedicated his practice to educating this community with workshops on topics relating to income from the right sources, taxes in retirement, RMD pitfalls and legacy planning.