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Early retirement could cause huge financial burdens
Many people dream of retiring early.
But leaving the workforce sooner, could cause a huge financial burden.
A new study by Fidelity shows that if a couple retires before the age of 65 they'll face an additional $51,000 dollars in medical expenses over those years.
And that doesn't include the cost of over the counter medications or long-term care, like nursing homes.
That's because Medicare doesn't kick in until 65.
So without coverage from a former employer. The couple is footing the bill for insurance themselves.
Experts say in addition to a retirement fund people should consider building up a nest egg for healthcare expenses.