If you’ve been struggling to find ways to convince workers to sock more money away for retirement, you may want to play the healthcare card.
Reason: An astounding 90% of U.S. residents have no idea how much they should expect to spend on their health care in retirement — or greatly underestimate the costs.
That standout stat comes from a recent SunLife Financial study.
With retiree health costs likely to equal $200,000 or more in all, there’s a good chance many of your staffers 401(k) balances are well short of where they should be.
To fix this, it may be a good idea to include handouts on medical spending in retirement during 401(k) education sessions.