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Investing/Strategies / Retirement Investing
|Subject: Re: Late life retirement investing||Date: 7/23/2010 6:24 PM|
|Author: intercst||Number: 67360 of 75523|
If I understand it right, his monthly expenses are currently $2,300 including $700 for health insurance. When he turns 65 he should be eligible for Medicare so his monthly expenses will be down to $1,600 and at 66 he will get $1,150 per month so that only leaves $450 per month to be covered by his retirement funds while his expenses remain the same. That is only $5,400 per year or less than 1% of his current nest egg which even if invested very conservatively it would probably never be drawn down.
The Part B Medicare premium costs $110.50 per month for 2010. And don't most retirees buy some kind of supplemental Medicare insurance to cover the 20% that Medicare doesn't pay? I don't see how his $700/month health insurance cost completely disappears at age 65.
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