• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

National Debt Relief

National Debt Relief - A+ BBB Accredited Business - Get Relief From Credit Card Debt, Medical Bills And Unsecured Loans

Talk to a debt counselor toll free:

800-300-9550

Get Relief From Credit Card Debt

Medical Bills and Unsecured Loans

  • Apply Now
    • Qualifications
    • Is This Right For Me?
  • Proven Results
    • Debt Relief Benefits
    • Credit Card Debt Relief
  • Debt Relief
  • Credit Card Debt Relief
  • Debt Consolidation
  • Login
HomeBlog Retirement3 Reasons Why Your Health Is Important In Retirement Planning
Video Transcript

Free Debt Consolidation Quote

By clicking "Get Free Quote", you agree that the phone number you are providing may be used to contact you by National Debt Relief (including autodialed and prerecorded calls, as well as text/SMS messages). Msg. and data rates apply, and your consent to such contact is not required for purchase.
  • National Debt Relief, LLC BBB Business Review
  • McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams

3 Reasons Why Your Health Is Important In Retirement Planning

June 20, 2016 by National Debt Relief

piggy bank with stethoscopeRetirement planning is not as simple as you think. There are so many things that you have to consider. It is just like creating a forecast report for your business. You have to make assumptions about your future and think about how you can reach your targets. It is not enough that you create a photo of what you want to happen. It is easy to say that you want to target a million dollars worth of sales in 2016. It is a different matter to actually create a plan so you can reach that million dollars.

The same is true for your retirement. When you plan what you want to happen, you have to be true to what you want when you retire. This will help define what you need to do during your pre-retirement years. At the same time, you also have to be honest about what you can actually reach. That way, you will not drive yourself crazy trying to reach goals that are actually beyond your abilities. After all, if you are earning a minimum wage with 3 children to feed, it is very hard to have a million dollars when you retire.

Regardless of your current financial situation, retirement planning is necessary if you want to be able to save anything at all. Even if you earn the minimum or you have a 6-figure income, you need to plan your every move so your retirement will not be compromised by the unexpected events that you will encounter as you live your life.

To make your planning more effective, you have to consider the different factors that will affect your retirement targets. While it is tempting to focus on the financial aspect of things, you also have to consider the non-financial areas that have a huge effect on your retirement.

One of the important aspects is your health.

3 reasons your health should be considered while planning for retirement

Surprisingly, a lot of us do not really think about our health during retirement planning. Admittedly, most of us focus on the amount that we have to pay. We think about the food, our home, transportation, activities and all the other stuff that retirees must spend on. Although we know that our health is important, a lot of us fail to realize just how important it really is.

To convince you of the importance of considering your health during retirement planning, here are three reasons why it is something you need to think about carefully.

Health care costs

Let us start with the health care cost. If the inflation rate is rising a lot faster than our income, you should see how the cost of medical care is rising. It is astounding how expensive it is to get a good quality medical treatment nowadays. This is especially true for retirees. As you get older, you become prone to health ailments because your physical body went through some serious beating in your youth. The daily work routine and the personal chores that we had to attend to took its toll in our bodies. We will only feel them when we get older. This is why you have to expect that one of the biggest expense that you will spend on during retirement will involve your health. According to the data published on HVSFinancial.com, the average retirement health care cost for a 65-year old healthy couple is $266,589. This is for those who are covered by Medicare Parts B, D, and a supplemental insurance policy. The data revealed that if you include the total healthcare cost (dental, out-of-pockets), it will reach $394,954. The data revealed that the annual cost for a 65-year-old is $6,999 and it gets higher as the retiree gets older. This is the reason why it is very important for you to consider your health during your retirement planning.

Lifestyle requirements

Another reason why you need to consider your health during retirement planning is for the lifestyle requirements. After all, your lifestyle will revolve around your health. If you are healthy, you do not need to change much about your expenses. However, if you have an ailment, you need to consider your health first. For instance, you may be able to save on transportation costs if you are healthy enough to bike your way around town. But if your health cannot manage that because of a respiratory ailment, then you need to spend on a car. Some medical condition will require you to spend a lot on medicines – most of which are maintenance pills that will help keep your ailments at bay. You have to factor in these costs so you will not fall short on your retirement budget.

Life expectancy

Finally, you have to consider your health to determine your life expectancy. This is actually the main reason why you have to be serious about your retirement planning. According to the data from CDC.gov, the average life expectancy in the country is 78.8 years. If you are really healthy, you can go beyond this. In case that is true, you have to make sure that you will not outlive your retirement money. Otherwise, you will be spending the rest of your life begging for money to support your basic necessities. Let us try to avoid this from happening by considering your expectations when it comes to life expectancy. An article published on USNews.com, the average spending of a typical retired household is $40,938. If you retired at the age of 65 and intend to live until you are 80, you need to have at least $614,070 in your retirement fund.

These are the three main reasons why you need to consider your health when you are planning for your retirement. If you do not think about your health, you might end up falling short when it matters the most. The main concern of a lot of retirees is outliving their money. You do not want that to happen while you are trying to battle an ailment. You want to have the freedom to live a comfortable retirement that will allow you to enjoy the fruits of your labor when you were younger.

Other important considerations in your retirement plan

Apart from your health, there are other things that you need to look into when you are making plans for your retirement. Here are three of them.

Debts

Your debt can eat up a huge percentage of your retirement money – especially when you are drowning in debt. Try not to share your retirement money with your creditors and lenders. Make sure you pay it off before you enter retirement. That way, you can enjoy the life that you want to live without worrying about any debt collections.

Other retirement income sources

If you have investments or any passive income, it is important to take them into consideration during retirement planning. These can boost your finances while you are retired. If you are one of the lucky few with a diverse source of income, you do not have to stress yourself out trying to save a lot of money before you retire. You can probably cut yourself some slack. And if you have a reasonable amount going for you, it could be possible for you to retire early.

Location

Finally, you have to think about where you plan to retire. Some people are able to retire for less because they chose to live in a state or city that is budget-friendly for retirees. These are the places that offer lower cost of living and great benefits for retirees. If you do not mind relocating, you can actually set a lower target for your retirement plan. That should ease some of the stress associated with saving for a huge retirement fund.

Do you qualify for debt consolidation?

National Debt Relief
National Debt Relief

National Debt Relief is one of the largest and best-rated debt settlement companies in the country. In addition to providing excellent, 5-star services to our clients, we also focus on educating consumers across America on how to best manage their money. Our posts cover topics around personal finance, saving tips, and much more. We’ve served thousands of clients, settled over $1 billion in consumer debt, and our services have been featured on sites like NerdWallet, Mashable, HuffPost, and Glamour.

Follow National Debt Relief: Facebook Twitter Instagram Linkedin

Primary Sidebar

Consolidate Your Debt!
Find out how NDR could help.
  • Get one low monthly payment
  • Avoid bankruptcy
  • Get out of debt in 24-48 months
Get Your Free evaluation
Free Debt Consolidation Quote
By clicking "Get Free Quote", you agree that the phone number you are providing may be used to contact you by National Debt Relief (including autodialed and prerecorded calls, as well as text/SMS messages). Msg. and data rates apply, and your consent to such contact is not required for purchase.
 Trusted By Our Clients

"When I first decided to go with National Debt Relief and I..."

Moderate National Debt Relief Caller: Charlotte Transcribed WE 1/17/2021 Charlotte: Our call may be recorded. What actually made you decide to work with our National Debt Relief as opposed to other providers? GLYNN: Well, when I first decided to go with them and I talked with the representative, I got a favorable impression of him. And since we've gone with him, we've had very good experience with them. Charlotte: Can you tell me about the program that our National Debt Relief signed you up for? GLYNN: It's a debt consolidation program. Took our credit cards and then working to pay them off. So far, they paid one of my wife's off and one from me. Took the harassing phone calls that we were getting and got them to stop and got creditors to wait on their payments so we could get money to pay them. Charlotte: What did you think about the enrollment process you went through? GLYNN: Enrollment process? Well, it was, I guess... Charlotte: Like how easy or difficult did you find the enrollment process to be? GLYNN: It was no [unclear 0:02:52], just what we could do, and looking at our financial situation, what we was able to do. It's just that, mainly, I was the point where I was fixing to go bankrupt and I didn't want to do that. And this was a way to, I guess, not to go bankrupt. But it still left that option open. Charlotte: In what ways would you say that this program has worked for you? GLYNN: Well, I guess the biggest thing is it stopped the harassing phone calls that we have been getting sometimes five or six times from the same creditor a day. It gave us an opportunity of being able to, I guess, set up a fund that we can use to eventually pay off our credit cards and our debts. Charlotte: About how far would you say that you were in at this point? GLYNN: At the time we signed up? Charlotte: At this point right now. About how far are you in the program? GLYNN: Well, it's, [0:05:00] I guess, about -- I would say I think I was like nine months. And like I say, they were able to pay off one of my wife's credit cards and are working on another one and was able to pay off one of my credit cards, and hopefully be able to pay off another one. Charlotte: Walk me through the interaction with your National Debt Relief negotiator. Give me a little insight on what that experience was like with that representative. GLYNN: Well, he helped us go through and get signed up on a program. He helped us with the getting, I guess, a financial report to establish a savings account to be able to use to start paying our debts off. We didn't know what to do or how to go about doing it. Charlotte: Is there anything about your National Debt Relief negotiator that really stood out and impressed you at all? GLYNN: Yeah, his manner and I guess he was polite and he didn't put down on us. And he led us and showed us the direction we need to go. Charlotte: Is there anything about this process that you would have liked to have seen handled differently? GLYNN: No, not really. Charlotte: If you had to rate this experience on a scale of one to five, and five is that you would recommend to friends and one is you were pretty dissatisfied, how would you rate it? GLYNN: I would rate it at a 5. Charlotte: Would it be okay if I posted your comments as a review on our public website for National Debt Relief? They just like to know what their customers felt about... GLYNN: If you think they're good enough to post. [chuckles] Charlotte: I will send over a link so that you can have it as a record for yourself also at glynncoates@gmail.com. How would you say that your life has been impacted by working with National Debt Relief? GLYNN: Well, it's taken off a lot of the burden off that we were under. We was to the point of, "Just go ahead," and getting a lawyer to file bankruptcy. But this has given us an opportunity to pay some of our debtors back. We made the debts under good face and circumstances beyond our control, it got out of hand. And so, we were trying to -- we wanted to pay them back, [0:10:00] or as much as we can so that, I guess, more ease in our minds. Charlotte: If a friend or a family member were asking you about National Debt Relief, what would you tell them? GLYNN: I'd tell them if they was needing, that they were good to work with and they continued to try to help and work with us. Charlotte: Our call is recorded.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Glynn Coates
ConsumerAffairs Reviews

Latest Retirement Posts

  • What Should Your Retirement Savings Look Like Right Now?
  • Money Management Tips For Your Retirement
  • How To Have A Happy Retirement While Living On Social Security Alone
  • Is It Smart To Use Retirement Money For College?
  • Should I Use My 401K to Pay Off Debt?
National Debt Relief, LLC BBB Business Review AFCC Top Ten Reviews Gold Top Consumer Reviews Consumers Advocate Trust Pilot
Company
  • About Us
  • Contact Us
  • Blog
  • Careers
  • Corporate
  • Privacy Policies
  • Terms Of Site
  • Disclaimer
  • Sitemap
Products
  • Debt Relief
  • Credit Card Debt Relief
  • Debt Consolidation
  • Debt Settlement
  • Calculators
  • FAQs
Debt Resources
  • Credit Card Debt
  • Medical Debt
  • Personal Loan Debt
  • Unemployment
  • Divorce Debt
  • Retiree Debt
  • Veteran Debt
  • Business Debt
  • Personal Finance
Follow Us
  • Facebook
  • Twitter
  • Linkedin
  • Instagram
  • Pinterest

© 2021, National Debt Relief, All Rights Reserved.

Disclaimer
Disclaimer
Disclaimer