https://www.healthsystemtracker.org/chart-collection/health-expenditures-vary-across-population/#item-whites-have-higher-health-spending-in-most-age-categories-than-people-in-other-groups_2016 suggests that the average spending per person age 55-64 is $7,147 for men and $8,343 for women.
But there is considerable individual variation in spending, with some spending very little, and some spending much more than average.
No one can readily predict when they will suddenly acquire an expensive chronic illness. I spend more on medications and see more MDs than my H and my mom combined due to my chronic health issues. None of us gave any idea why I have these issues. Eating properly and exercise helps but sadly are no guarantee.
One of my staff members was a very healthy vegetarian nurse who exercised regularly and looked extremely fit but had a heart attack at age 40!
I am not sure what your linkās point is, UC? Health spending out of pocket above monthly premiums varies? I assume the 2k self funded ball park is with a high detuctable and no nice Cadillac options as per big employer plans. Many carry 5K deductables. HSAs are only really nice if you use them as the tax shelter.
āWhat happens if there is no SS in 15 yrs?ā
My advice, if folks can swing it, is to not count on SS at all in retirement planning and treat it as gravy.
@SailingMomof2 ā the important question, what kind of boat is it? 
(see my avatar for source of my interest in this question
We arenāt counting on the SS income, but I sure as heck hope the Medicare part is still around in 10 years!
The health insurance question is a good one- we could be in a position to retire in our early fifties if it werenāt for health insurance.
Another thing to consider is the rising cost of senior care. We have lots of friends dealing with aging parents and the reaction to the high cost of elder care is similar to the reaction you sometimes see when it comes to college costs. I recommend visiting a couple of senior communities just to get an idea of what is available and the corresponding costs. Like college planning before your child is a senior in high school, starting years before there is a need is the smart play. Things will change, but a snapshot of current plans/communities is useful.
Researching and helping our parents move to senior communities was very time consuming, but it has been worth it. We are so much smarter than before. Hopefully we will be proactive when it comes to our own aging issues. If itās $4-6k/month now, we need to expect it to be even high 20 yrs from now.
Our aim was always to save enough so we wonāt be a financial burden to our childrenā¦and yes, we are also in the camp of saving as if there wonāt be SS.
We retired in our early 40s and have been self pay for about 15 years (now late 50s), and our high deductible plan ($15K) is about $1600/month (includes two youngest children). Weāve all been lucky and healthy, and other than routine surgery for H a few years ago, weāve had to pay out of pocket for minor procedures, lab fees, MRIs, etc., although annual checkups, etc. are included.
I wouldnāt assume that @SailingMomof2 hasnāt figured in the obvious costs mentioned above as they are so basic to retirement planning (and boat ownership). My take on her post was that she has the appropriate investment nut to comfortably and securely retire at 51, and that $30K isnāt some fantasy number. My brother and SIL, for instance, retired in their 50ās, sailed around and lived on their boat until they tired of it and do quite well taking just a modest cash stream from a very sizable investment nut. As a retired public servant, his medical is covered by the govāt and his pensions from two govāt careers more than cover all their basic living costs. The investment income is gravy. My point is that itās fine to point out areas of consideration for the benefit of all those who lurk here, but I would give a CC poster the benefit of the doubt because weāre all above average in the planning department right?
Hence trust fund comment.
@Gourmetmom - this is reassuring to me. Of course, we canāt count on remaining healthy. Weāll be shopping for insurance soon as our COBRA ends at the end of September. Iām not currently worried about āgettingā coverage (though, who knows what the future will bring???) - but I am worried about that quality of that coverage. We knew going into early retirement that health insurance would be our single largest expense. It is what it is. Shrug.
Iām not assuming @SailingMomof2 hasnāt figured it out, Iām just curious what her solution is.
DH retired at 63, and because of health insurance premiums costs, we canāt wait until he turns 65 later this year (I turn 65 next year). We have a catastrophic plan with a high deductible (but not HSA-eligible), and are paying almost $1700/month. That $30,000/year @SailingMomof2 is budgeting could be gone quick (unless they have other health insurance options).
I am 53 and retired. My two kids, Dā17 and Sā20 are on their dadās health insurance, but I pay $750 just for myself for a Blue Shield plan that is not a high deductible. Multiply that by two people and youād be at more than half of a $30K a year budget, but perhaps OP has health insurance covered. I couldnāt live on $30K a year. My property taxes alone are too much!
Perhaps @SailingMomof2 (or spouse) has retiree medical benefits. Itās less and less common, but still somef folks do qualify for annuity pensions and medical retiree.
Around here, there are different costs for retirement communities, based on care level needed. Basic is about $7000/month and provides one or more meals/day and light cleaning (bathroom, bedding washed). If you need help for anything, there are additional costs. If you need transportation, and/or 24/7 assistance thereās even more costs. If you need help taking meds, there are also more costs. It all adds up, especially depending on how long such care is needed.
Planned exit strategies will be a public service of the future. Someone needs to make an app for that.
I donāt think science yet knows when a person will live days/weeks or months more vs years. Sometimes there are obvious signs but sometimes itās very difficult to know.
We know a woman who is 98 who was walking around including going up & down steps as recently as Jan and then in Feb became bedbound. Nothing specific caused the change but now sheās mostly sleeping and eating.
The drive will be financial, not scientific.