Like many on this board I subscribe to Paul Merriman's newsletters and articles, and he recently featured this study:
http://www.hvsfinancial.com/PublicFiles/Income_Replacement_Ratios.pdf
It's a lengthy piece but IMHO probably worth a read (or at least a skim) for anyone who isn't quite wealthy and perhaps a few who are.
Merriman's take aways include:
*6-7% annual increases in health care costs for at least the next 10-20 years are very likely, with being on Medicare no exception.
*Internal rates of return (IRRs) in almost all SWR models use 2.5-3.0% CPI inflation and don't account for soaring health care costs.
*Within 20 years and quite possibly sooner many could see their entire SS payment consumed by health care costs.
Maybe pigs will fly and we'll see single payer or Medicare for all before all this completely comes to pass.
http://www.hvsfinancial.com/PublicFiles/Income_Replacement_Ratios.pdf
It's a lengthy piece but IMHO probably worth a read (or at least a skim) for anyone who isn't quite wealthy and perhaps a few who are.
Merriman's take aways include:
*6-7% annual increases in health care costs for at least the next 10-20 years are very likely, with being on Medicare no exception.
*Internal rates of return (IRRs) in almost all SWR models use 2.5-3.0% CPI inflation and don't account for soaring health care costs.
*Within 20 years and quite possibly sooner many could see their entire SS payment consumed by health care costs.
Maybe pigs will fly and we'll see single payer or Medicare for all before all this completely comes to pass.