Retirement Readiness & Healthcare Costs

New Focus on Wealth with Chad Burton

In this episode of New Focus on Wealth, certified financial planner Chad Burton dives into the important topics of retirement readiness and healthcare costs.

Chad starts by discussing the seven steps to retirement readiness, which include assessing your financial situation, determining your asset allocation, and creating a withdrawal strategy. He emphasizes the importance of having enough safe money to cover expenses and the need for a proper tax plan to minimize taxes in retirement.

The episode also delves into the rising healthcare costs in retirement. Chad highlights a study that reveals a typical US couple may need up to $413,000 to cover healthcare expenses in retirement, especially if they have high prescription drug needs. He explains the complexities of Medicare, supplemental plans, and the impact of income on healthcare costs.

Throughout the episode, Chad emphasizes the need for individuals to prioritize their health and well-being in retirement. He encourages listeners to focus on maintaining a healthy lifestyle and making informed decisions about healthcare coverage.

Don't miss this informative and engaging episode of New Focus on Wealth as Chad Burton provides valuable insights and strategies for retirement readiness and managing healthcare costs.

Timestamps:

[00:02:30] Valuations of technology companies.

[00:06:09] Office real estate delinquencies.

[00:07:46] Real estate investment trust companies.

[00:13:04] Retirement planning and expenses.

[00:15:02] Retirement readiness

[00:19:04] How much to draw in retirement.

[00:23:44] Tax situation changes with Social Security.

[00:27:05] Long-term care and retirement.

[00:30:00] Healthcare expenses in retirement.

[00:34:15] Healthcare costs in retirement.

[00:36:43] Retirement planning and saving.

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Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com