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Illness Can Wipe Out Retirement Savings, Unless Advisors Help Clients Plan Ahead
By
Rob Burgess
News September 02, 2026 at 11:42 AM
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What You Need To Know
- Many retirees report taking money from long-term savings, including retirement accounts, to pay for medical bills.
- Dipping into retirement accounts before age 59.5 comes with a 10% penalty and can push a client into a higher tax bracket.
- Preventive planning can include long-term disability coverage and critical illness insurance.
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