What About Healthcare, Debt or Inflation?

As you approach retirement, you may be faced with a variety of different risks and challenges including rising healthcare costs, potential debt, and inflation risk. That's why it is so important to work with a financial advisor who can help you develop a long-term strategy that may be grounded in the possible while striving to make your retirement dreams a reality.

Rising Healthcare Costs

Rising Debt

Inflation Risk

80% of Americans over the age of 65 suffer from at least one chronic disease, while 50% have two or more and 40% face the risk of entering a nursing home for long-term care services.¹
The average daily rate for a private room in a nursing home is $203, or $74,095 annually.²
35% say medical expenses play a major role in keeping them behind schedule in planning and saving for retirement.³

In America, the savings rate has declined from 10% in 1980 to just 1% in 2004.⁴
Credit card and car loan debt is approximately $18,700 per U.S. household, more than doubling over the latest 10-year period.⁵
6 in 10 workers describe their level of debt as a problem.⁶

Something that cost $100 in 1965 cost:⁷

$170.79 in 1975
$341.59 in 1985
$483.81 in 1995
$631.11 in 2005

Sources:¹Healthy Aging. Centers for Disease Control and Prevention and http://www.mrltc.com
²The MetLife Market Survey of Nursing Home and Home Care Costs, September 2005
³EBRI, Saving for Retirement in America, 2005 RCS Fact Sheet
⁴Low Savings Rate Is Real Retirement Crisis, The Chicago Sun Times, Rep. Rahm Emanuel, April 22, 2005
⁵US Consumer Debt Reaches Record Levels, Joanne Laurier, WSWS.org, January 15, 2004
⁶EBRI, Saving for Retirement in America, 2005 RCS Fact Sheet
⁷CPI Inflation Calculator, U.S. Department of Labor website. Figures based on historical consumer price index calculations. This is a hypothetical example for illustrative purposes only.

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Van Kampen does not provide tax advice. The tax information contained herein is general and is not exhaustive by nature. It was not intended or written to be used, and it cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer under U.S. federal tax laws. Federal and state tax laws are complex and constantly changing. You should always consult your own legal or tax advisor for information concerning your individual situation.

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