Profile B: Nearing Retirement Age: 60 Status: Single, planning to retire in the next 5 years. Health: Has a few chronic conditions that require regular medical attention. Priorities Maximizing refirements sovings and managing healthcare costs effectively. Guiding Questions: 1. Which health insurance plan would provide the best coverage given chronic conditions? 2. How can pension plans and retirement savings be maximized?

1. Given the chronic conditions and the need for regular medical attention, the best health insurance plan would be one that provides comprehensive coverage for both inpatient and outpatient care, as well as prescription medications. This could include plans such as Medicare Advantage, which offers additional coverage beyond Original Medicare, or a high-deductible health plan (HDHP) with a health savings account (HSA) that allows for tax-advantaged savings for medical expenses.<br />2. To maximize pension plans and retirement savings, it is important to start saving as early as possible and to contribute as much as possible to retirement accounts, such as a 401(k) or an IRA. Additionally, taking advantage of employer matching contributions and other tax-advantaged savings opportunities can help to increase retirement savings. It is also important to diversify investments and to regularly review and adjust retirement savings goals and strategies as needed.