Health care is one of the most significant costs facing Americans in retirement—according to one recent study, the typical couple can expect to spend about $250,000 in health care during their retirement years. In order to deal with this cost, consumers must connect their planning for health and wealth.
By answering a few simple questions, Retiree Health Choices’ CaLiPER (Calculate Lifetime Costs to Plan Expenses in Retirement) tool allows users to:
• Estimate their projected lifetime health expense in retirement; and
• Understand how much they need to put aside (in a single amount or annually) to cover this expense.
In addition, CaLiPER allows the user to see the impact of changing retirement age or the rate of return on both the total amount required and the amount that needs to be saved each year to cover retirement health care costs.
Here is a consumer-facing version of CaLiPER v1.0.
*Calculate Lifetime Costs to Plan Expenses in Retirement
* This version may not work on certain mobile devices.