Many employees nearing retirement are at risk for unexpected health costs.  

The threat is growing, with people living and working longer.

In a survey conducted by MFS Investment Management, nearly half of people nearing retirement age are expecting to continue working into the early phase of retirement to help bolster their savings.

The definition of retirement is changing. MFS suggests formulating a formal retirement income plan and extending retirement planning well into the employee’s golden years.

Currently, about 25% of employees  underestimate how much money they’ll need to retire comfortably.

Experts caution that, without financial education, even workers with pensions or 401(k)s could find themselves struggling after retirement. This is especially true if your firm doesn’t offer retiree health coverage.