Retirement gets complicated. Medicare, Social Security, Investments, and your Estate Plan are the core of your retirement decisions, but each of those gets remarkably complex. They are mazes with minefields every step of the way that lead to confusion and nightmares. Our channel puts out videos to help remove obstacles, clear up the mess, and keep your retirement decisions a whole lot more simple.
You can avoid underwriting by moving to a zip code not covered in your plan. Rent an RV site or an apartment for over 30 days, and now you're a resident of that zip code.
Game, set, & match for the govt. We pay into medicare all our lives, then after 65..... we have to pay to supplement what we've been paying for all our lives, and it increases every year.
I am BLUE in the face with the cost of health insurance. I'll be 62 this year starting my SS. Don't have any retirement to speak of except my dwindling 401K. I researched catastrophic health insurance and that crazy expensive as well. I take Sir Jason Winters tea regularly as a cancer preventative; know to reverse stage 4 cancers. Fingers crossed!
So sorry for your loss, sir. Truly am. But my question is: would this apply to someone where Medicare advantage pays and whatever else is needed the job you retired from pays? That’s my situation. I retired and never pay for anything for my health. I was told that whatever Medicare doesn’t cover, my job I retired from pays. Must be true because I don’t pay for ambulance, emergency, hospitals, room, board, etc., in patient, out patient, zero. I have called before all of my procedures and they say all the time “no ma’am, you pay zero”. They said even if I was hospitalized, I would leave with zero medical costs for whatever the procedure or length of stay is. Hope that is really true. I know how things can flip flop.
Alright, so the HSA issue is only for making future contributions and there are no issues with having an HSA that you are not contributing to? Will having an HSA affect what medicare covers or pays? Will they want to know how much is in my HSA (they probably already do know via taxes)? Orange.
What would be the least cost if I am mostly healthy with only BP med but I like having dental and vision. Was considering advantage but then there is the network thing to deal with, which is why I don't go to my normal doctor now(doesn't take the insurance I have), but he does take medicare and an advantage provider that starts with R. But the portability of Medicare with supplement is nice. So what is better if you have minimal medical issues, no family history of cancer for instance, on either side.
Semi slick. He tries to hide the real truths. Once on a Advantage plan, it is almost impossible to get onto a Supplement plan. The reverse is not true! IF you are not going to get sick or need a surgery, choose the cheaper Advantage plan. You get what you pay for.
So I love elephants and feel They are smart! 😊 That bring said, I chose an advantage plan thru Humana ppo for myself n hubby. For us it works. For my mom who is 95 she is currently on the same plan. She used to be on a supplement thru blue cross but forgot to pay her premium around the time she started to get dementia n was cancelled. I stepped in to help after she ended up with only A and B and got a huge bill. 😳. Not understanding it all I did the Humana advantage. It’s ok for her but not as great. As her dementia is getting worse I’m Finding that skilled care thing with “getting better” as the issue. The issue with dementia patients not getting care from Medicare or even regular insurance is real. And it stinks. 😭. Watching what’s happening to mom makes me consider long term care as a strong option for me n hubby.
Red, So what if your in career with a forced retirement at 65 buy your looking for a new job to get yourself to the 67 SS retirement age and get a job 3 or 4 months after you turn 65? should you take Medicare and then drop it when you get a new job.
Kaiser has "misplaced" the premium payments of over 1,000 Medicare patients over the last two months. My recent statement showed that I am three months behind, but I have NEVER missed a payment. Trying to work with the various office personnel has been an absolute nightmare. They have tried to "reassure" me by saying that this will not affect my credit --- for THEIR MISTAKE!! I would not recommend Kaiser to anyone.
Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I never trust people that sell insurance or investments. They have a self-interest to sell the product that gets them the most commission. I have an economics degree specializing in healthcare, an MBA, have had both supplemental and advantage plans. I have settled on an advantage plan that meets all my needs, has all the providers in my city in-network and has never denied any procedure needed. And all the people commenting I want the entire world of healthcare for free. The world doesn't work that way. It is expensive and we should have choices that best meet each person's needs. There have to be limitations or the system would go broke sooner than it is already heading towards. Most people don't even know that parts of both Medicare and Social Security are going insolvent in 6 to 7 years. Wait until you see a 25% cut in your benefits.
What you don't even touch is the fact that for healthy people who go 10, 15, or 20 years without catastrophic illnesses, the supplemental & Advantage plans are a complete waste of money. I could go on and on about why supplements and advantage plans are a complete waste of money for 99.999999999% of people, but I'd have to create a channel for that. Buyer beware of ALL supplement plans &/or Advantage plans. They take your money and are NEVER there for you when you need them. READ THE FINE PRINT before you invest in garbage coverage like this.
@@Theretirementnerds I've spent 30+ years in the medical field......much of that in hospital care & have worked on many hospital finance teams that evaluate patient finance responsibility. The short story is this: If you're stupid enough to pay decades on supplemental insurance plans, we'll gladly bill those companies and take the money. If you don't have a supplement, we almost always accept the Medicare payment and we ALWAYS accept payments for the outstanding balance IF, AND ONLY IF, you tell us you can afford a particular payment plan. We understand that we can't get blood from a stone. We understand that if you die from your disease process that we probably won't collect a dime from your estate. If you really want to give out good advice, tell your viewers to NEVER sign to accept financial responsibility for anyone....including their spouse. Let your cancer stricken spouse sign for everything. That's the best advice you can give anyone. You seniors out there.......save your money for trips and quality family time. Don't give it to the greedy insurance companies.
They don't have underwriting if you are switching from Supplement plan to Supplement plan. Not Advantage to supplement plan unless you are in your trial right period. Does that make sense?
But for the average person how many years do they pay for a supplement plan at $2,000.00 a year and not really use it? So say you’re on Medicare for 10 years on an advantage plan you’ve saved $20,000.00. So minus the $4,000.00 difference you’d loose you’re still $16,000.00 ahead. It’s all about how healthy you are and the roll of the dice.
@@Theretirementnerds it’s all playing the odds. No one knows for sure the future will bring. You could be in the best of health but get into an accident. You just don’t know.
Any Roth never made an ounce of sense for me the entire time I was working because it would have been taxed at max rate. Instead, it all grows tax-free and I'm taking it out in Retirement at a way lower rate now. I realize this isn't true for everyone, but it was for me. And yes, I'm converting a little to Roth at the lower tax rate now in anticipation of RMDs potentially pushing me into a higher tax bracket, but I do that evaluation at the end of each year and it's a relatively small adjustment.l, rather than a rule. Ironically, the worse the market does, the less one needs to concern oneself with RMDs. But if the market does really well, RMDs are a good "problem" to have. ;-)
126° in the desert southwest of Arizona. In Yuma, we normally have over 100 days (a year) where the temperature is above 100°F. So 105~115 is common. We wear jackets when it's below 90 😅😅😅😂
I'm a heat wimp and the highest I've survived is the low 90's in Utah riding my motorcycle on trails with a group of friends. I was suffering heat exhaustion and could barely walk. But here in Alaska I'm dying if it hits 80 degrees. 50's and sunshine is my favorite weather. But this video about AZ is excellent for me because we are moving down there next year. I hope I acclimate soon to the high heat but the AC will make it comfortable year round as long as I stay inside. Great information as always!
This is so timely and great. A lot of financial advisors do not explain this part of the equation. Very straightforward and concise. He's is so knowledgeable because of this information I'm heading down to SS office this week. Thanks a lot.
