Its Easier Said Than Done

That's not to say that if you are fit you don't need a financial plan. "Good health has a high value in dollars," says Bruce Pyenson, an actuary at health consultants Milliman. "But it's not enough for you to stop saving." He says your savings goal, if you are healthy, should be 10 times your final salary, and significantly more if you suffer a chronic health problem such as cardiovascular disease or diabetes.

How much savings is enough for chronic sufferers? That depends on the severity of the ailment and the level of coverage. But consider that Medicare spends four times as much on unhealthy people as it does on healthy ones; out-of-pocket costs from deductibles and co-pays are much higher too. If you have an uncovered, extended nursing-home stay, the cost of health care in retirement may surpass $300,000.