As a financial advisor, one of the most crucial aspects of retirement planning that I emphasize to my clients is preparing for healthcare expenses. It's no secret that healthcare costs continue to rise, and without proper planning, these expenses can eat into one's retirement savings.

One important step is to estimate how much you may need for healthcare. You should consider factors such as Medicare premiums, out-of-pocket costs, and potential long-term care needs. Consulting with an expert in retirement planning can help you navigate the complexities of estimating these expenses.

Additionally, it's essential to explore healthcare options available to you. Medicare is a crucial aspect of retirement healthcare, but it may not cover all your needs. Supplemental insurance or a retiree health plan through a former employer could be options to consider.