cost of retirement

How much is the cost of retirement?

According to a study released in 2017 by Merrill Lynch, the average cost of retirement is more than $700,000. When I mentioned this number at one of my recent speaking engagements, I had one gentleman announce to the group that if this is true, he would be homeless and living in a cardboard box on the streets. After that statement, I didn’t have the heart to mention to the group that Fidelity Investments estimates health care and medical expenses alone will total $275,000 for the average 65-year-old couple retiring in 2017. I did some additional research and found … Read More