June is Men’s Health Month, a reminder for men to do the things that they generally don’t do as well as women: getting screened for conditions that, detected early, are easily treated; seeking education about health issues, and supporting each other’s well-being.
If being happier with good health isn’t enough, then men should consider the extraordinarily high medical cost of poor health – especially during the retirement years, says insurance industry expert Chris Orestis.
Just one health incident can wipe out an individual’s savings, leaving little money for living expenses. That can mean a major loss of independence, from having to move in with a son or daughter or worse. Baby Boomers, who are retiring in droves, have about 8 percent less wealth than those 10 to 15 years older than them, partly because of the recent recession.
In addition to taking care of their health, retired and soon-to-be-retired men can avoid flirting with poverty by exercising some financial options.