Setting a Budget for Healthcare Costs During Retirement

Finance expert Mike Periu on how to accurately budget Healthcare Costs During Retirement.

Healthcare Costs During Retirement: One of the greatest challenges facing retirees is estimating the amount of money needed to fund healthcare-related costs. According to a recent study by Fidelity Investments, the average couple retiring this year will incur around $240,000 in healthcare expenses during retirement. This cost grows 6 percent annually, meaning that people retiring in 10 years can expect $430,000 in expenses. Many people assume that Medicare covers all health care expenses during retirement; in reality it only accounts for 59 percent with the remaining 41 percent coming from other sources like out-of-pocket expenditures and private insurance plans

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Who is Mike Periu?

Mike is a seasoned executive with experience in small business finance and management. He is the founder of Proximo, LLC a leading provider of corporate, consumer and small business education and training services with an emphasis on finance and technology.

Mike Periu is also a leading national voice for individual empowerment through financial education and entrepreneurship. He has been interviewed over 500 times in national and international media, including NBC, Univision, CNN en español, Telemundo, HITN, TVE, RTE, SBS, MegaTV and others.

Mike writes regularly for American Express OpenForum, Yahoo! Finanzas and is a Huffington Post contributor.

Mike has degrees in Finance and International Business from Georgetown University. He is on the Board of Directors of the Council for Economic Education and was a Fellow at the Kauffman Foundation’s Labs for Enterprise Creation.

Learn more about Mike Periu

Mike works with small businesses to teach them about finance and management. He started Proximo, LLC, a company that offers small business education and training services focused on finance and technology.

Periu also writes for OpenForum, Yahoo! Finanzas the Huffington Post contributor.

Mike went to Georgetown University where he studied Finance and International Business. He also serves on the Board of the Council for Economic Education and was a Fellow at the Kauffman Foundation.