How Much do I Need for Health Care in Retirement?! 3 Key Costs & 4 Steps to Living Well

Health care costs are one of the largest potential expenses in retirement and yet, often highly unpredictable.

Many Canadians admit to being confused as to the health care and long-term care costs covered by our public system, versus those that we need to save for in order to live well in our retirement years!

Above, we highlight 3 key costs to be aware of (and 4 things you can do in preparation) to safeguard against this major risk to your retirement.

Darcie leverages her experience and expertise as a Chartered Investment Manager (CIM), Personal Financial Planner (PFP) and Certified Divorce Financial Analyst (CDFA) to give you the financial guidance you need.

➜ 1:10 Intro and Canadian Public Health Care System
➜ 1:57 Overview: 3 Key Health Care Costs
➜ 2:07 Cost of Private Home Care
➜ 2:33 Cost of Private Residential Care
➜ 2:58 Cost of Increased Longevity
➜ 3:23 4 Ways to Prepare to Live Well Through Retirement
➜ 3:28 Understanding the Public System
➜ 4:02 Budgeting for Health Care and Proactively ID'ing Shortfalls (medication, dental costs, etc.)
➜ 4:30 Considering Healthcare Insurance
➜ 4:51 Discussing Future Plans with Family

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Hello! I'm Darcie Crowe, Founder of Crowe Private Wealth. Recognized as one of Canada's Top Wealth Advisors by The Globe and Mail, my team's main priority is to transition you to a more secure financial future.

OUR ACCOLADES:

★ "Canada's Top Wealth Advisors", The Globe and Mail, 2021, 2022
★ 5-Star Advisors, 2021, 2022, 2023
★ 5-Star Leading Women in Wealth, 2021, 2022, 2023
★ Canada's Top 50 Advisors, 2020, 2021, 2023
★ Canaccord Genuity National Client Dedication Award, 2021
★ "Advisor of the Year - Alternative Investments" (National Gold Winner)
★ "Female Trailblazer of the Year" (National Gold Winner)

Frequently featured within The Globe and Mail, BNN Bloomberg, The Financial Post, Investment Executive, Advisor's Edge, Huff Post and more.

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DISCLAIMER:
Investing in any of the asset classes mentioned here may not be suitable for all investors, as there are different types of risks involved with this investment strategy. Even if suitable to your level of risk tolerance, any of the asset classes mentioned here may not be appropriate for your portfolio, depending on what other investments you hold. Please note that, from time to time, we may have personal investments in any of the asset classes mentioned here. Please do not hesitate to contact us should you want to know more about any of the asset classes mentioned here or have any related questions. Diversification and asset allocation do not ensure a profit or guarantee against loss.

[alfonsogarcia]

Thank you. As usual, well presented and valuable.

[debbie]

Thank you for video. This is the first time I have seen this topic come up in my stream. Helpful info to think about.

[MrSylynce]

How to talk about costs of healthcare without providing any cost estimates of healthcare.