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“In this case, it might be better to keep the mortgage and use savings to meet retirement living expenses,” she says.

4.

You know how you’ll cover your healthcare expenses in retirement.

You’ll qualify for Medicare when you turn 65, but this doesn’t mean your healthcare will be free. The monthly premium for Medicare Part B ranges from $185 to $628.90 in 2025, depending on income.

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Plus, there are additional costs if you purchase a Medicare Advantage (Part C) or Prescription Drug (Part D) plan.

If you retire before 65, you’ll need some other form of health insurance until you’re eligible for Medicare.

One option is to purchase insurance on the federal marketplace at Healthcare.gov.

If you currently have a high-deductible health insurance plan, making pre-tax contributions to a Health Savings Account (HSA) is one way to save money to cover healthcare expenses in retirement.

Unspent HSA funds carry over from year to year, even into retirement. Note that you will no longer be able to contribute to your HSA once you sign up for Medic

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