According to a new study, a retired couple needs $225,000 just to cover out-of-pocket medical costs.
According to a study by Fidelity Investments, a couple retiring in 2008 will need to have $225,000 in the bank just to cover their medical expenses.
This is the largest single expense for most people in retirement.
It is a 4.7% increase from $215,000 last year.
Since Fidelity began these estimates in 2002, the average jump has been 5.8% each year.
These amounts do not include expenses such as over-the-counter medications, most dental services and long-term care.
They factored in that a couple will retire at the age of 65, with a man living 17 years in retirement, and a women 20 years.