- Sep 8, 2014
Mine are $9600 annually & that’s now.Consider that at some point half of that two-SS check couple will die, leaving the other widowed. So the remaining spouse will instantly have his or her income slashed by 50%. It's something to consider in your retirement planning.
I am younger than my husband (and in better health, and I come from a long-lived family), so we've always assumed that I will need more retirement income than he will. If things fall out as expected, he will have me as a caretaker in his last years. I'll still be doing the housecleaning and driving, etc. On the other hand, when I reach those last years, I'll probably have to pay for those things. So our plans include more money for me than for him.
I consider myself pretty well informed about retirement issues, but I only learned this about a year ago. I was shocked. My husband and I have been paying hundreds every month for decades, and I (foolishly) thought senior citizens paid only if they wanted "extra" coverage -- which isn't exactly wrong because Part A is no-cost to most people, but it only pays for inpatient hospital coverage. Most of us want a whole lot more coverage than that.
When I learned that Medicare costs, I started reading and talking to retired people about what they pay -- and I feel better prepared, and the cost will be significantly less than I pay now -- but I am still disappointed that I'm paying NOW and will pay more LATER.
That's crazy. I paid off my house a decade and a half ago, and my housing expenses are less than 2K/year (taxes and homeowner's insurance).