Robert Powell: How to plan for health care in retirement without going broke

How’s this for putting a dent in your retirement savings plan? A 65-year-old couple retiring today will need an estimated $275,000 in today’s dollars to cover anticipated health care expenses, according to Fidelity.

And if that wasn’t shocking enough, consider this:

• The 2017 estimate is 6% greater than last year’s figure of $260,000 (general inflation in 2016 was just 2% and health care inflation was 3.7% ). That means next year’s estimate — all things being equal — would be $291,500 and the year after that would be $308,990. It also means that health care costs for retirees are rising faster than for population at large.

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