Don’t rely heavily on the government

Relying on the government to cover expenses, especially medical-related ones, could spell disaster. You don’t want any surprises when you’re at your most vulnerable.

For example, did you know that 80% of seniors don’t even know how much health care might cost during retirement? That’s a dangerous statistic, which implies that not a lot of people save an accurate amount of money. Then, when and if health-related issues arrive, they don’t have the funds to cover all of the expenses.

Though Medicare will cover many costs, it won’t take care of all of them. So it’s up to you to stay informed and start planning your medical emergency fund.