More retirees have saved enough. Here’s what they need to do next

Personal Finance

With that — and rising medical costs — comes surging projections of what retirees can expect to spend for retirement health costs. A 2016 Fidelity study found a typical retired couple will have $260,000 in out-of-pocket health-care outlays. Long-term care could add another $130,000.

“Be your own life insurance actuary,” said Mark Avallone, president of Potomac Wealth Advisors in Rockville, Maryland, and author of “Countdown to Financial Freedom.” “If you’ve been living healthy, you may have the blessing of living a long life and you need to plan accordingly.”

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