Retirement
How Much Do I Need to Retire? A Clear, Numbers-Based Answer
The 4% rule, the multiply-by-25 approach, healthcare costs ($315K+), and Social Security -- here's exactly how much you need to retire at different spending levels.
Healthcare Cost Estimator
Project healthcare spending from retirement through end of life. Medicare coverage gaps, supplemental insurance, long-term care scenarios.
Healthcare Cost Estimator
How much should you set aside for healthcare in retirement? The answer might surprise you.
65 years
55 years70 years
Medicare-eligible right away
85 years
75 years100 years
Better to overestimate — healthcare costs rise sharply with age
This affects out-of-pocket cost estimates
Plan for about $483,634 in healthcare costs from age 65 through 85.
Here's what I'd tell a friend
At $1,919/month on average, healthcare will be one of your biggest retirement expenses. Medicare covers a lot, but dental, vision, and hearing aren't included. A Medigap supplement plan can protect you from unexpected bills. Consider an HSA (Health Savings Account) if you still have time — it's the only account that's tax-free going in AND coming out when used for healthcare.
Total estimated healthcare cost
$483,634
Average monthly cost
$1,919/mo
$23,030/year on average
Medicare-era costs (65+)
$483,634
Early Medicare (65-74)
$13,385/year avg
Medicare coverage with supplemental insurance. Generally the lowest-cost Medicare years.
Later Medicare (75-84)
$28,504/year avg
Costs rise as health needs increase. Long-term care risk begins to factor in.
Advanced Age (85+)
$64,738/year avg
Highest costs due to increased medical needs and long-term care probability.
Coverage gaps to know about
Medicare does not cover dental, vision, or hearing. Budget separately for these.
Medicare does not cover long-term care (nursing home, assisted living). Consider long-term care insurance.
The Money Friend
Plan for about $483,634 in healthcare costs from age 65 through 85.
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