What is the Biggest Expense for Retirees? Understanding Healthcare Costs

Healthcare costs are the biggest expense for most retirees. As people age, medical needs often increase, leading to higher spending on insurance, medications, and treatments. To manage these costs, retirees should consider investing in a comprehensive Medicare plan and setting aside savings for unexpected health expenses. Additionally, living a healthy lifestyle can help reduce the need for costly medical interventions. Planning ahead for these expenses is crucial in maintaining financial stability during retirement.