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BREAKING NEWS

  • ECSO investigating a shooting

    07/25/14 16:45:23

    Escambia deputies are investigating a shooting in the Montclair area. Witnesses say a 12 year old boy was shot. Authorities confirmed one person was transported to the hospital via trauma alert. More here

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Early retirement could cause huge financial burdens

Many people dream of retiring early.
But leaving the workforce sooner, could cause a huge financial burden.

A new study by Fidelity shows that if a couple retires before the age of 65 they'll face an additional $51,000 dollars in medical expenses over those years.
   
And that doesn't include the cost of over the counter medications or long-term care, like nursing homes.

That's because Medicare doesn't kick in until 65.
So without coverage from a former employer.   The couple is footing the bill for insurance themselves.
   
Experts say in addition to a retirement fund people should consider building up a nest egg for healthcare expenses.