Core Insights - Approximately 30% of baby boomers are considering delaying retirement due to financial concerns [1] Financial Pressures - Rising healthcare costs, housing, and everyday essentials are straining budgets due to inflation [3] - Many boomers underestimate the impact of inflation on fixed costs, making cash flow tracking and proactive planning essential [4] - Inflation increases borrowing costs, making debt feel heavier and eroding purchasing power [6] Budgeting Strategies - Boomers are advised to revisit budgets annually, prioritize fixed essentials, and stress-test plans for rising costs [7] - Allocating more towards cash reserves and fixed-income investments can help preserve flexibility [7] - Paying down high-interest debt first is recommended for guaranteed returns [8] Healthcare Expenses - Healthcare costs remain a significant challenge, with a recommendation to plan for these expenses to consume 15% to 20% of retirement spending [9]

Healthcare Expenses in Retirement - A single person retiring in 2025 can expect to spend an average of $172,500 on healthcare and medical expenses throughout retirement [1] Health Savings Accounts (HSAs) - Fidelity's "5 Questions with Fidelity" explains how to leverage Health Savings Accounts (HSAs) to manage rising healthcare expenses [1] - The video covers topics such as what an HSA is, who is eligible, common myths, how HSAs can help in retirement, and how to maximize their benefits [1] Fidelity Resources - Fidelity provides insights and perspectives on the markets through its learning center [1] - Fidelity encourages viewers to subscribe to their YouTube channel for more videos and to follow them on various social media platforms [1]

Core Insights - The article emphasizes the importance of planning for various expenses that can significantly impact retirement savings, highlighting the need for a comprehensive investment strategy as individuals approach retirement age [2] Group 1: Healthcare - Out-of-pocket healthcare expenses can be substantial even with Medicare, with many financial experts suggesting that individuals need at least $1 million saved for a comfortable retirement due to high medical costs [3] - It is recommended to have a health savings account (HSA) or similar fund for medical expenses, along with regular reviews of health insurance and consideration of supplemental insurance to mitigate costs [4] Group 2: Homeownership - Homeownership can lead to significant expenses in retirement, particularly as homes age and require costly repairs such as roof replacements or plumbing fixes [5] - Setting aside a home maintenance fund and conducting regular home inspections are advised to anticipate and manage these costs effectively [6] Group 3: Inflation - Inflation poses a risk to future savings, necessitating larger withdrawals to maintain living standards, especially if the investment portfolio relies heavily on fixed income strategies that do not keep pace with inflation [7] - To combat inflation, it is suggested to invest a portion of the portfolio in stocks that historically yield better returns than bonds and cash, while maintaining a diversified portfolio for long-term benefits [7]