Retirement is the golden period of your life, provided you plan for it. During retirement, you are most likely to spend a large sum of your money on housing, transport, and most importantly, healthcare expenses. Your health has a direct relation with your financial wellness and retirement readiness. As per a recent study conducted on people between ages 50 and 64, approximately 45% were not confident about their ability to afford health insurance and related costs during retirement. As per Fidelity, an average 65-year-old couple retiring in 2021 will require at least $300,000 (after tax and as per the present dollar value) to cover their healthcare costs. This figure is exclusive of long-term care expenses. A person turning 65 has a 70% chance that they may need long-term care for the later years of their lives, according to the U.S. Department of Health and Human Services.<\/p>\n