Housing and Medical Are Top Two Retirement Expenses (beach, vacations, community)

[pvande55]

Until retirement your second biggest expense is transportation. I guess that drops a lot once you don't have to commute.

[matisse12]

I've been retired for 6.5 years and my medical costs are only $74 per month for a supplemental medical policy. So it has not been 'eating up' my retirement money at all.

(plus the required purchase of Part D drug plan at $18 per month, and the $104 which Social Security automatically deducts for Medicare from all retirees monthly Social Security checks (some pay more))

and I have had only a handful of medical co-pays because I rarely visit a doctor. (yes, lucky in that regard)

I mention this to illustrate that medical costs do not necessarily eat up a large proportion of your money.

[matisse12]

many so-called dental insurance plans do not even cover crowns, all they cover are x-rays during a check-up, check-up, and cleaning......

with those plans you're often better off just paying on your own and not having the dental insurance

[StealthRabbit]

My Property taxes and health insurance are up over 1000% since I retired 11 yrs ago.

If I chose to be insured... My pre-age 65 HC rate would be $1700/ month.
My property taxes are 3x the highest house payment I have ever had.

I eat on $100 per month, my fuel is free, I burn my own wood for heat...and barter for veggies and meat.

Housing and medical would be 85% of my budget.
Cell phone and internet is rapidly catching up...

[mathjak107]

i wish there was . i was prediabetic and rejected 3 of the 6 i had put in 7 years ago .

i just had 4 more done now that my diabetes is under control

[NewbieHere]

I never had any problem with bone graft. I heal easily. But my sister didn't. We used the same guy. When I did it cost $1000 and I pay $400-$500 out of pocket. But that was maybe 10 years ago on. My sister has bridges now because they are cheaper but they are not as reliable.

[mathjak107]

my bone structure would not allow a bottom denture to stay put . it was a poor quality of life trying to deal with one

[Escort Rider]

In order for medical care to be one of the two largest expenses in retirement, one would have to posit certain conditions: serious illnesses, lots of drugs or at least unusual drugs that are very expensive, in and out of hospitals, etc. The older one is, the more likely such a constellation of conditions will exist. However, I just don't see it as a general rule, especially since Medicare plus a good supplement should basically pay for everything. Posters have warned about things not covered by Medicare. Well, O.K., could someone please give examples of things not covered by Medicare? Color me skeptical at this point.

[Lastfire]

Alzheimer's or memory care is not covered. It is a slow disease and the body can stay healthy for years while the brain dies. Medicare and the good gap insurance pays for all of his medical needs. However, he was an avid exerciser whose blood pressure, cholesterol, blood sugar, etc., are all excellent. But he cannot take care of himself at all. So, the expense is tremendous and I am sure we will run out of money within a couple of years.

[Escort Rider]

Originally Posted by Lastfire

Alzheimer's or memory care is not covered. It is a slow disease and the body can stay healthy for years while the brain dies. Medicare and the good gap insurance pays for all of his medical needs. However, he was an avid exerciser whose blood pressure, cholesterol, blood sugar, etc., are all excellent. But he cannot take care of himself at all. So, the expense is tremendous and I am sure we will run out of money within a couple of years.

I am so sorry that the example you kindly provided in response to my question had to be such a tragic one. My heart goes out to you and thanks for educating me.