Watch Out for This One Expense ‘Breaking’ Your Retirement, According to 2 Money Experts

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Make Passive Income (You Can Start This Week)It is an expense that everyone will have, but few people have considered how they will cover it during retirement. This six-figure expense could bankrupt you.Find out the one thing that can derail retirement and how you can better plan for it.In the YouTube video, Money Guy experts said that healthcare expenses are breaking people’s retirement savings. They noted that according to eHealth, 63% of people 60-70 years old said that healthcare costs are their biggest concern, overtaking running out of money and inflation. While it is a top concern for many retirees, only 33% have saved any money specifically to cover the cost during retirement.Discover Next: 5 ‘Necessities’ Frugal People Don’t Buy, According To Frugal Living Expert Austin WilliamsThe Money Guy experts warned that waiting until retirement to plan for healthcare can be financially devastating. They noted that medical debt is the leading cause of bankruptcy. As reported by CNBC, roughly 67% of all bankruptcies are related to medical issues and bills. Thousands of Americans are caught off guard and forced into financial hardship because of soaring healthcare costs.Just how much can retirees expect to spend? The duo pointed to a Fidelity Investments study that found the average 65-year-old retiring in 2025 can expect to spend $172,500 on healthcare expenses throughout retirement — a 4% increase from the previous year. The data underscores the rising cost of medical care in the U.S.Despite these sobering figures, one in five Americans reported that they haven’t considered healthcare needs in their retirement planning. That lack of preparation could lead to significant financial strain when unexpected medical bills start to accumulate.The Money Guy experts shared several strategies to help retirees get ahead of healthcare expenses before they become overwhelming:1. Open and invest in a Health Savings Account (HSA).If you qualify, the experts recommend contributing to an HSA as soon as possible. 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