Retiring at 64: $51K Healthcare Gap Before Medicare Starts

Retiring at 64 often leads to a 12-month healthcare gap, with potential out-of-pocket costs exceeding $51,000 for a married couple due to unsubsidized ACA premiums. These premiums for two 64-year-olds range from $1,800 to $2,400 monthly, totaling nearly $29,000 annually. Additionally, improper planning can consume 3-4% of a $1.5 million retirement portfolio, emphasizing the importance of financial strategy during this transition. Once Medicare starts at 65, average monthly premiums could decrease to $202.90 each for qualifying individuals.