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Snap Stat: Life’s Biggest—and Least Understood—Expense

It can cost more than buying a house, raising a child and paying for college—combined. What is it?

RETIREMENT IS THE BIGGEST EXPENSE for most people, according to Finances in Retirement: New Challenges, New Solutions, a 2017 study by Merrill Lynch in partnership with Age Wave. And the cost of funding it is rising as people live longer. For more surprising insights, download the study here. Then talk to your financial advisor about the strategies, course corrections and tradeoffs you can consider to help you prepare for this “purchase of a lifetime.”

3 Questions to Ask Your Advisor

  1. Is the amount I’m saving and investing today likely to sustain me over the course of a long retirement?
  2. What are some tradeoffs and course corrections I might consider to help prepare for retirement, given my present circumstances?
  3. I’m concerned about what my health care costs might be in retirement—how can I prepare?

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