May 1, 2014

Elaine Bedel featured in US News & World Report Article

Posted By: Bedel Financial

US News & World Report Article "How to Budget For Health Care Expenses in Retirement" featuring Elaine Bedel

Should you plan on getting healthier once you retire, or is it smarter to work on wellness in advance? New research indicates that entering retirement in good health can result in a major cost savings: Those who retire in good health may need 19 percent less money over the course of retirement than people with chronic conditions and bad habits, according to a 2013 Fidelity Investments Retirement Savings Assessment survey of over 2,265 working households earning at least $20,000.

Plotting a financial return on wellness is a new thought for most near-retirees, financial advisors say. Here's how to integrate this insight into your plans.

Certified financial planner Elaine Bedel, based in Indianapolis, has seen clients take two typical approaches to retirement health expectations: postponing a wellness makeover until retirement and adopting wellness in anticipation of retirement. One of her clients retired from a stressful job that involved many meals eaten on the road. He promptly lost 50 pounds once he was able to adopt a daily exercise plan. But another of Bedel’s clients made a late-career shift from a physically exerting nursing job to a deskbound position and found her stamina and physical condition deteriorating. She started a diet and exercise regime so she could retire strong.