5. Healthy living should be a priority
When you are reading this article and you see that healthy living should be a priority, it might not sound like financial advice, but can it be? Health is a very important factor when you want to live on social security alone because you don’t want to spend money on the doctor if you want to make ends meet at the end of the month with as little money as possible.
You might say that you have Medicare, so you will not spend that much money, but be aware that Medicare is not covering all of your medical expenses. Some services, including dental and eye care, aren’t covered by original Medicare, and there are still co-pays and deductibles.
Fidelity Investments tells us that in 2023, a retired couple can pay as much as $315,000 in health care for the rest of their lives. It is true that there are medical costs that can’t be avoided, but if you do your best to stay healthy, you will definitely spend less on medical care.
