The Ultimate Retirement Wild Card? Healthcare

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There is no question medical providers will face a greater burden on their services in the next decade. While expansions in insurance coverage contribute a great deal to this, an aging population will also play a significant role. Not only will a larger proportion of the population be elderly, but members of this newly retired group are likely to take a greater interest in their personal health.

According to a study from Merrill Lynch, retirees and baby-boomers list health as the “most important ingredient to a happy retirement.” For baby boomers, health appears to be their biggest financial concern.

The article by InvestmentNews encourages financial advisers to bring up this topic with retiring clients. Advising clients about healthcare costs tends to be difficult due to its unpredictable and costly nature.

Physicians should take this expected surge in demand into account when managing their business.

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