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Fidelity Investments survey reveals new insight on finances, retirement
Friday, May 11, 2012
The results of a new survey from Fidelity Investments reveal that couples retiring this year will need $240,000 in order to pay off medical expenses throughout retirement.
Fidelity Investments' latest retiree healthcare cost estimates represent a 4 percent increase compared with last year when the estimate was at $230,000.
"Today's workers must understand that the cost of healthcare is expected to continue rising significantly in future years," said Brad Kimler, executive vice president of Fidelity's Benefits Consulting business. "Medical inflation is outpacing salary increases and cost of living adjustments for many people. Until that situation changes, it is critical that individuals include health care costs in their retirement savings strategies today so they can be prepared to pay their medical bills throughout retirement."
In order to pay for retirement, adults from all walks of life may want to consider portfolio diversification and online stock trading. According to Bloomberg, the S and P 500 rose from a two-month low on May 10 due to government talks making headway in Greece. Knowledge of the stock market and economy can go a long way in successfully playing the stock market and accruing funds to help pay for retirement and other life costs.
Investors can use the internet for their stock trading purposes and can take part in online investment opportunities.
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