Sept/Oct 2021 Reverse Mortgage Magazine

• Alaska, $489,070; and • Virginia, $468,579. As far as the bottom five on the list goes, the places include: • Utah, $300,392; • North Dakota, $310,766; • Washington, DC, $325,671; • Oklahoma, $340,389; and • Mississippi, $340,894. Learn more at bit.ly/3d1nJfz. Fidelity: Projected Healthcare Expenses Reach Record High Fidelity forecasts the average 65-year-old couple will spend $300,000 on healthcare in retirement, while the 2021 estimate for singles is $157,000 for women and $143,000 for men. This year’s estimates mark a new record high, up 30 percent from a decade ago. “Healthcare is creating a ‘retirement cost gap’ for many pre-retirees,” says Steve Feinschreiber, senior vice president of the Financial Solutions Group at Fidelity. “Many peo- ple assume Medicare will cover all your healthcare costs in retirement, but it doesn’t. We estimate that about 15 percent of the average retiree’s annual expenses will be used for healthcare-related expenses, including Medicare premiums and out-of-pocket expenses.” Fidelity offers several tips to prepare for rising health- care costs, including opening a Health Savings Account (HSA). “An HSA can help you save tax-efficiently for healthcare costs in retirement,” says Fidelity. “You can save pretax dollars (and possibly collect employer contri- butions), which have the potential to grow and be with- drawn tax-free for federal and state tax purposes if used for qualified medical expenses.” Learn more at bit.ly/3wNznT4. Congratulations, New CRMPs NRMLA congratulates the following individuals for earning the Certified Reverse Mortgage Professional (CRMP) designation: • Scott Burks, C2 Financial Corp., San Clemente, CA; • Allen Chao, Longbridge Financial, Houston, TX; • Lanny Clark, C2 Financial Corp., Albany, CA; • Barbara Cripple, Finance of America Reverse, New Franklin, OH; • Kevin A. Guttman, C2 Financial Corp., Colorado Springs, CO; • Sam Lowy, Upscale Equities Inc., Lakewood, NJ; • Shana Roach, New American Funding, Lake Havasu City, AZ; • Tina Steele, V.I.P. Mortgage Inc., Tucson, AZ; and • Kerry Worden, C2 Financial Corp., Pleasanton, CA. What’s News continued on page 10 REVERSE MORTGAGE / SEPTEMBER-OCTOBER 2021 9