Monday, October 15th, 2012
One of the consequences of an aging population is that there will be increased pressure on an already overloaded public health system. Advances in technology will add to the pressure as new but often more costly procedures become available. Health care costs are 10 times higher in old age than in mid-life. By 2050, 1 in 4 people will be aged over 65, compared to 1 in 8 now. Not only will the total spend on health increase dramatically but there will be fewer taxpayers to fund it!
Possible outcomes over the next twenty years could include:
Research shows that good health is one of the main determinants of happiness. Planning for a happy retirement means planning for a healthy retirement. Strategies you can use to plan for good health include:
There is no question that paying for health care is a major retirement issue now and it will become critical. As medical technology advances, you will want nothing but the best available treatment. Make sure you can afford it by planning ahead.
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