US: Millionaires Worry Health Care Costs Will Affect Retirement

Nine out of ten millionaires are worried that rapidly rising health care costs will significantly affect their ability to enjoy retirement, many plan to fund their retirement by working part or full-time, and nearly half are relying on themselves rather than a professional in planning for retirement.   ;   This is according to research released today by The Northern Trust Company, a leading provider of investment management, global custody, fiduciary and private banking services for affluent individuals, families and family offices.   ;   Northern Trust’s new survey of 1,312 millionaire investors, representing more than $7 billion of total investable assets, revealed that 92 percent of non-retirees are very worried or somewhat worried that rapidly rising health care costs will affect their ability to enjoy retirement. Most (88 percent) retired millionaires, 55 and older, are similarly worried, as are nearly all (96 percent) baby boomer millionaires (age 54 and under).   ;   « It was surprising to learn that regardless of age or level of wealth no one is immune from the devastating affects of spiraling health care costs, » said Thomas Hines, Senior Vice President and head of the Northern Trust Financial Planning Group. « Affluent individuals and families are