2026 retirees could expect to spend $185,000 on healthcare, report finds

People retiring this year may end up spending approximately $185,000 on their healthcare over the rest of their lives.

It’s an extraordinary number, as many Americans retiring this year reportedly aren’t prepared for that aspect of retirement. When it comes to retirement planning, they might be looking at shelter, food and other essentials but not thinking enough about healthcare.

Fidelity Investments released a report Wednesday that estimates a 65-year-old who retires this year can expect an average $185,000 in healthcare costs over the duration of their golden years.

That’s up 7.5% from last year’s estimate from Fidelity, reflecting ongoing increases in the cost of healthcare.

A record number of baby boomers are now retiring, and many may be overlooking how healthcare could drain their limited financial resources.

One survey found that most Americans think Medicare will cover all their needs, but that’s not the case.

While it does cover a good portion of needs, it’s important to remember that doesn’t include everything.

A significant portion of your costs will be left to you, and if you have a chronic condition, you may want to shop around for a supplemental policy to deal with the extra elements, KTLA’s David Lazarus advises.

For the latest news, weather, sports, and streaming video, head to KTLA.