Many of us look forward to retirement. It is the time when we can finally enjoy our lives and the fruits of our labour. It is also when we envision finally using the money that we have saved and invested over a lifetime. However, the road in retirement may not always be smooth sailing. There are accidents, unforeseen emergencies, unexpected events, costs and expenses which may derail us, no matter how carefully we may have planned for them. As we grow older, healthcare is the one cost which keeps creeping up relentlessly. It is the hidden cost of retirement. In collaboration with WealthDojo, we take a deeper look at the costs of healthcare as we age

Healthcare costs in retirement

Healthcare costs form a significant part of retirement spending. In a previous article, we documented how healthcare costs increases from a bit less than 7% of all household spending