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I was Retired!
United States
เข้าร่วมเมื่อ 16 ธ.ค. 2020
Tips from a DIY retiree to help you manage your DIY retirement: I discuss lessons learned in past 8+ years after my unexpected early retirement. There are steps people could take earlier in their career to make their retirement plans more resilient. And there are steps you can take if forced to take an early retirement to ensure a sound retirement. I've had to learn about Social Security, Medicare, I-Bonds, and DIY investing to avoid unnecessary fees.
I am not a financial professional, so look at my content as entertaining ideas from one educated consumer to another. Always do your own due diligence and seek professional counsel before you make any changes to your financial plans.
I am not a financial professional, so look at my content as entertaining ideas from one educated consumer to another. Always do your own due diligence and seek professional counsel before you make any changes to your financial plans.
Medigap Shopping: Ignore the TV Ads
I continue my DIY Retiree's guide for those younger than I am who may be "Getting Ready for Medicare in 2025."
It began with this review: th-cam.com/video/JXauCIN5rus/w-d-xo.html
Share with friends who are at that age!
This video reviews Medigap Shopping, with a suggestion to ignore most of those TV ads this fall during Annual Enrollment Period. They are not for those on Original Medicare and a Medicare Supplemental or Medigap policy.
Here are some links to share on the subject:
www.markfarrah.com/mfa-briefs/medicare-supplement-enrollment-down-slightly-in-2023/
www.telosactuarial.com/blog/med-supp-broker-sales-mix-2024-q2-review
www.valuepenguin.com/how-choose-medigap-health-policy
medicaresupp.org/
www.medicarefaq.com/faqs/medigap-birthday-rule/
Here's my standard warning: I'm not a financial planner. I'm not a professional. There are no initials after my name. So take these as entertaining ideas from an educated DIY retiree. Always do your own due diligence, and seek out a professoinal if you need one.
Follow me on X (formerly Twitter) @iwasretired.
See my Googles Site (link above) for shared links, spreadsheets, and more.
It began with this review: th-cam.com/video/JXauCIN5rus/w-d-xo.html
Share with friends who are at that age!
This video reviews Medigap Shopping, with a suggestion to ignore most of those TV ads this fall during Annual Enrollment Period. They are not for those on Original Medicare and a Medicare Supplemental or Medigap policy.
Here are some links to share on the subject:
www.markfarrah.com/mfa-briefs/medicare-supplement-enrollment-down-slightly-in-2023/
www.telosactuarial.com/blog/med-supp-broker-sales-mix-2024-q2-review
www.valuepenguin.com/how-choose-medigap-health-policy
medicaresupp.org/
www.medicarefaq.com/faqs/medigap-birthday-rule/
Here's my standard warning: I'm not a financial planner. I'm not a professional. There are no initials after my name. So take these as entertaining ideas from an educated DIY retiree. Always do your own due diligence, and seek out a professoinal if you need one.
Follow me on X (formerly Twitter) @iwasretired.
See my Googles Site (link above) for shared links, spreadsheets, and more.
มุมมอง: 357
วีดีโอ
Getting Ready for Medicare for 2025!
มุมมอง 627วันที่ผ่านมา
I've been on Medicare for a few years now, so this is more for those who are a few years younger who may be getting ready for Medicare in 2024. Now, I'm not a Medicare broker, just a DIY retiree. But I know how to find a national broker to help. Last week's video attracted the attenion of one such broker with a good channel. Here is his link: @ChristopherWestfall He has a site devoted to Plan N...
Will Medicare Part D Price Controls Work?
มุมมอง 36621 วันที่ผ่านมา
Medicare's negotiated prices on 10 expensive brand-name drugs is getting a lot of attention. But less attention is paid to a premium stabilization demonstration that will affect the Part D premiums you will pay in 2025. But what will your premiums really be under control? Too soon to tell! Some links for the two stories I discuss this week: www.wsj.com/health/pharma/medicare-prescription-drugs-...
Can You Trust the Tools Your Retirement Plan Provides?
มุมมอง 45428 วันที่ผ่านมา
News of a new lawsuit against TIAA and Morningstar about a tool created for savers in a 403(b) retirement plan on campus got me thinking. Can you trust the tools your plan provider provides? Some links: www.plansponsor.com/tiaa-morningstar-sued-over-retirement-advice-tool/ www.financial-planning.com/news/tiaa-morningstar-lawsuit-alleges-costly-annuity-abuses www.wsj.com/personal-finance/retirem...
Recession, Wit!
มุมมอง 611หลายเดือนก่อน
Scary days like this require us to sit back and be patient. I respond with a little wit, prompted by some items I saw on my X feed last week. Treasury Secretary Janet Yellen was in Philly ordering her cheesesteak like a local! "Cheesesteak, wit Whiz and onions!" And did you see VP Kamala Harris out shopping for a record? Here are some links to share, including the study on whether Treasury is t...
3 Flaws with my DIY Retirement Withdrawal Strategy Spreadsheet
มุมมอง 2Kหลายเดือนก่อน
@NewRetirement is better than DIY spreadsheets. I will readily agree. I use this week's video to point out 3 flaws in my bespoke DIY approach. See my Google Sites to download a free version of my sample DIY and compare yourself to www.newretirement.com/retirement/home-product/ Here's my standard warning: I'm not a financial planner. I'm not a professional. There are no initials after my name. S...
Random Walk on Random Thoughts
มุมมอง 360หลายเดือนก่อน
Up on Fire Island, NY this week and didn't bring anything but the iPhone, so excuse the surf noise as I share some random thoughts during my random walk on the beach. And despite being from New Jersey, I call this the beach, not the shore. Down the Shore is Jersey Shore! I discuss quick thoughts on political turmoil and what do do about it: Maybe nothing! www.morningstar.com/personal-finance/3-...
3 Tasks NewRetirement Does Well and 1 it Will Not Do
มุมมอง 7Kหลายเดือนก่อน
NewRetirement is shaping up to be an industry standard. Here are 3 tasks it does well and 1 it will not do. Some links to share: www.newretirement.com/ The 2024 Roth Conversion Calculator, it should work on basic free level too: www.newretirement.com/retirement/roth-conversion-calculator/ Some recent NR reviews by others: robberger.com/decoding-the-chance-of-success-in-your-retirement-plan/ www...
3 Things I Got Right in My DIY Retirement!
มุมมอง 8K2 หลายเดือนก่อน
After eight years in retirement, I know I've made some mistakes, but here are 3 things I know I got right: 1) I'm not paying a 1% AUM 2) I'm waiting for 70 for Social Security 3) I'm on Original Medicare. I look at these with the help of NewRetirement.com Scenario Comparisons. If you haven't tried NewRetirement, you should! It is a financial planner in a box and a fraction of what an AUM FA wou...
Dots Crazy!
มุมมอง 4462 หลายเดือนก่อน
Why does a DIY retiree follow the Fed? Retirees need to make sure fixed income investments have real rates greater than inflation, and the Fed is a major driver of what happens to inflation. I discuss the recent Dot Plots and what they tell us about when to expect the first cut in interest rates. Here are some links to share: www.reuters.com/graphics/USA-ECONOMY/FED/lgpdwawwzvo/ www.bankrate.co...
How I was Retired at 59
มุมมอง 1.5K2 หลายเดือนก่อน
Recent comments about my channel's title and some recent retirement blog posts I've read prompted me to address the question of how I was retired at 59. I was on the road to a retirement at 65, when I was detoured! Links to share: awealthofcommonsense.com/2024/05/when-life-forces-your-hand/ am.jpmorgan.com/us/en/asset-management/adv/insights/retirement-insights/guide-to-retirement/ www.theretir...
Clearing Up Some Questions about Medigap Plan N
มุมมอง 1K3 หลายเดือนก่อน
This week I cover four common questions about Medigap Plan N. I've been on Plan N for two years and one of my post popular videos right now is this comparison of Plan G and Plan Two Years Later: th-cam.com/video/GRLgcxTEKs4/w-d-xo.html Some other links to share: nabip.org/membership-resources/medicare-portal/compliance nabip.org/media/7646/plan-n.pdf nabip.org/media/7645/plan_n_guidance2-1.pdf ...
How Many Buckets Do You Need for Retirement?
มุมมอง 6983 หลายเดือนก่อน
A couple articles in the last few days prompted me to revisit my portfolio by bucket retirement strategy. See these links: www.morningstar.com/retirement/do-you-need-more-than-3-buckets www.newretirement.com/retirement/retirement-bucket-strategy-right-for-you/ Remember, my Googles Site: sites.google.com/view/iwasretired bookmarks all the links I've shared in these videos. And you'll find the sp...
Social Security: Answering the Thorny Questions
มุมมอง 1.1K3 หลายเดือนก่อน
Social Security: Answering the Thorny Questions
Where to Stash Cash for 5 Years: Nominals, TIPS, or I-Bonds?
มุมมอง 4.7K4 หลายเดือนก่อน
Where to Stash Cash for 5 Years: Nominals, TIPS, or I-Bonds?
Five Rules of Thumb I Don't Use in My DIY Retirement!
มุมมอง 4.3K5 หลายเดือนก่อน
Five Rules of Thumb I Don't Use in My DIY Retirement!
More than 30 Reliable Sources for My DIY Retirement
มุมมอง 7016 หลายเดือนก่อน
More than 30 Reliable Sources for My DIY Retirement
Don't Believe Everything You Read on the Internet!
มุมมอง 9756 หลายเดือนก่อน
Don't Believe Everything You Read on the Internet!
Tracking Treasuries in My Portfolio by Buckets
มุมมอง 2546 หลายเดือนก่อน
Tracking Treasuries in My Portfolio by Buckets
Taxes Are Due on Those I-Bonds! Go Get Your TD 1099s!
มุมมอง 4607 หลายเดือนก่อน
Taxes Are Due on Those I-Bonds! Go Get Your TD 1099s!
Folks! If you know someone about to start Medicare and shopping for Medigap, share this video! Share some insights from a DIY retiree.
Crazy how much more they advertise Medicare Advantage vs Supplement
Medicare reports big losses on MA too. At some point, we will beat MA and reform it. Meanwhile, OM + Medigap is my preferred path.
ABSOLUTELY RIDICULOUS THAT SENIORS SHOULD BE SUBJECTED TO GOING THROUGH ALL THIS IN ORDER TO FIGURE OUT WHICH PLAN IS BEST
While I recommend doing your own due diligence, I close with "and seek out a professional, if you need one." You will likely be steered to Plan G or an Advantage plan. Consider the choices.
Thanks, Jim. I just started Medicare in April 2024 with Plan N MoO as well. My spouse starts Medicare in April 2025. I've already started getting preliminary Supplement numbers from a broker for when both of us are on Medicare. I should be able to pass underwriting easily so we may go with a company that offers a household discount and a annual payment method discount. We'll be doing our serious shopping in January 2025 -- like you said avoiding the AEP chaos.
Thanks for watching! MOO has a household discount, but both have to be on the plan. My wife will not join me on Medicare for another year, so let me know if you get a good deal in April 2025!
@@IwasRetired Actually, MoO in Texas has a "roommate" discount of 12%. I have that discount since I live with someone over age 60. Doesn't even have to be a spouse. I'm not sure what their rules are in other states. With that discount, I pay $94.26 for plan N. Per MoO's new rates for 2024, that went up to $106 so I assume my rate in April 2025 would go up to that at least. I work with Boomer Benefits as well. I did however, just get current rates from another broker -- just to see what someone else would recommend. If my spouse and I were on a plan together now, our rate would be: 1. with Humana plan N household discount $85. 2. with Allstate plan N household discount and annual pay discount $87. I've also been checking the SERFF website for Texas and looking at historical rate hikes for a LOT of companies. We'll be serious about shopping in January 2025 when my spouse can apply and I can go through underwriting and apply. We'll see what rates are then. I think it's a good idea to talk to a few brokers and see what each one recommends and their reasoning.
But you also have to add a drug plan because the plan doesn't include prescription coverage.
@@catherinekoch3735 and be sure to shop every year, especially this year! See my recent video.
Thanks, Jim! Excellent video!
Glad you liked it!
Flexible Retirement Planner is a good PC app. It does about 60% of what I need and does way more Monte Carlo simulations than new retirement and all from your PC. It's good because it is another utility in the toolbox and it also allows a different perspective. With that said I believe New Retirement is a top notch tool for retirement planning. It doesn't do what betterment and similar budgeting after retirement tools do but I like it.
Entertaining ideas? Kind of like Faux News? Infotainment!
No, more like advice from one retiree to another, without strings. But also use it as the starting point for your own decisions.
If you're seeing the doctor twice a month I don't think you going to make it to 80
You may have found a corollary to why I'm waiting for 70 for Social Security. I have Plan N!
Start with your state’s SHIP office to learn about Medicare rules specific to your state. I found that not all brokers were aware that my state had instituted the birthday rule for supplement plans. Then Check out the National Council on Aging’s standards of excellence for Medicare brokers. After talks with brokers I found through TH-cam, I was much more impressed by - and confident in - one from the NCOA’s list. No matter what, though, I think it’s important to talk to people from multiple companies/organizations.
Random thoughs: Schmidt - sorry, but anyone claiming to be an award-winning author, with absolutely nothing to back that up claim, is instantly disqualified in my mind. He claims almost 300K subscribers, and that also seems fishy but I'd really like to know what his TH-cam income is. I can put on a tie and suit coat and talk into a camera too, but that doesn't make me credible. Others like Whitney that are selling clubs and services, I'm sorry but they lack credibility too. Kuhn says nothing of any value, and says it over and over and over again. There's a virtual flood of this low-value content now, and it won't end well. Anyway, just random thoughts.
BAIT AND SWITCH GETS THEM DEEPER INTO YOUR WALLET THE MORE OPTIONS THEY HAVE😊
Very well done... Thank you ! I know this sounds crazy but the thought of no co-pays and dealing with the damn receptionists is quite inviting too..
Excellent presentation! Your explanations are clearer than the professional Medicare Insurance brokers.
Thank you. I do have PR background in fin services which helps.
It is correct that all Medicare Advantage plans must cover urgent or emergency care when travelling in the U.S. But some Advantage also plans cover non-urgent/emergency care when travelling. HMO Advantage plans require care to be obtained only from in-network providers, unless an emergency. But PPO Advantage plans will cover care obtained from non-contracted providers, although it will usually involve higher copays, in that situation.
Hey, thanks for the video. I used Boomer Benefits as well for my Plan N supplement. Currently, I have the 50c Part D plan from W. It'll be REAL interesting to see what happens to the premiums and formularies in 2025 considering the Inflation "Reduction" Act and CMS's bowing to pressure from the current administration to mitigate premium increases before the election.
ANOC in September will be important reading!
Thanks, Jim. That was a great video. I appreciate your wit and wisdom!
Glad you enjoyed it!
I have Plan N.
I have one question that I can't seem to find the answer to I'm currently working for a large employer and the employer is covering 100% of my medical & dental insurance. I plan on applying for Part A, as I turn 65 on 9/07/24. My question is that if I wait to apply to Part B & D until I retire, Do I still have the window available to me to get guaranteed acceptance into a Part G supplemental plan or will I now need to go thru underwriting to get the Part G supplemental plan since I didn't take it during my initial enrollment period
Right from the Medicare and You Handbook: When's the best time to buy a Medigap policy? • The best time to buy a Medigap policy is during your Medigap Open Enrollment Period. This 6-month period begins the first month you have Medicare Part B (Medical Insurance), and you’re 65 or older. (Some states have additional Open Enrollment Periods.) After this enrollment period, you may not be able to buy a Medigap policy or it may cost more. In certain situations, you may have rights to buy a Medigap policy (guaranteed issue rights) outside of your Medigap Open Enrollment Period. • If you delay signing up for Part B because you have group health coverage based on your (or your spouse’s) current employment, your Medigap Open Enrollment Period won’t start until you sign up for Part B. This last paragraph is what you are looking for!
@@IwasRetired Many thanks for the reply
IRMAA is not my friend 😆
Very nice explanation. Have you found a good way to model living off dividends and interest in taxable account. I can’t seem to get capital gains tax to work out or year end balances to come close to my own spreadsheets.
NewRetirement is not a tool to plan this year. It is better at longer term planning. You could use transfers in Money Flows I guess.
Nancy from NR has recently said there is a Dividend feature in development. No release date confirmed yet.
Thanks for good video. I use NR and other tools such as Portfolio Visualizer, FICalc Morningstar Portfolio Tools and Quicken. All my assets are in Vanguard. So I can view my AA in detail and instantly. I normally use Morningstar for that. OK with regard to NR, I use a trick. Instead of creating an NR account for my Vanguard IRA account, I create 3 “phantom” accounts for Buckets 1, 2 and 3. See Christine Benz Bucket system. Outside of NR, in a 1 page spreadsheet I map my mutual funds to the buckets. The spreadsheet simply adds up the $ totals for each bucket. Then, I manually cut / paste those 3 totals into the NR phantom account totals. Now, I am up to date. The cool thing about this trick is now in NR I can base my withdrawal strategy on Buckets. And control the order of withdrawals such that $ is taken from bucket 1 first, 2 second and 3 last (if ever) . Now, in the long term projection graphs you can see the money flows from buckets, not the account. Very powerful to view it this way, if you are using the bucket approach. Hope this makes sense. You may be doing something very similar, but I thought I would share my trick. Thank you for nice video. Dan
th-cam.com/video/W91V1-rZAPk/w-d-xo.html See my playlist on buckets. I use a three-bucket system and developed a spreadsheet to look at three time buckets, and three tax buckets, and view AA across everything,
Jim, I do find there is an issue with the Roth conversion tool. I am aggressively converting IRA funds to Roth before I have RMDs and collect social security. The issue I have is that I make my large planned conversion in early January. Unfortunately NR seems to ignore the conversion in the current year and plans a different conversion for this year. If I have already made a conversion and it suggests less, I can’t use the new amount and future amounts are not reliable. I have shared the issue with NR support and hopefully they will come up with a solution.
I find the stand alone more useful for this year. Starting point should always be your current estimate of AGI, including those you conversions you have already made. The multi-year explorer is good and you can now import them, but if you want to be very precise, transfers in money flows work best.
@@IwasRetired Jim. Thank you for your guidance.
Great analysis and communication. What do you do about dental, vision, hearing, if anything?
@@JandCJordan thanks for watching! I self insure dental and vision. Don’t need hearing aids yet.
You have much greater flexibility to choose a provider and facility with Medicare and medigap than with an Advantage plan.
My wife and I are happy to be on plan F.
Those who were eligible for Medicare after January 1, 2020 can no longer select Plan F. Congress phased out this zero deductible plan.
@@IwasRetired Yes. Which is why my wife and I are happy we were able to get the F plan before then. I haven't paid one cent in medical bills (other than Medicare and MediGap) since we started the plan -- including when I had a pacemaker installed two years ago.
Valuable video and thank you very much.
Glad it was helpful!
So very confusing This is very simple just get a Medicare advantage plan at your local hospital is a part of Every single city of any size in the nation has such a thing thing It will be advertised as so That means you’ll have no premiums, but you will have co-pays, but out-of-pocket will be capped at $3000 Just do the math why would you pay $200 a month times 12 months best $2400 because you were worried that you’ll have to come up with $3000 in a given year Think about that for a moment, and if I still worries, you simply save the $200 a month and earn interest on that Come on people I know you can figure this out
Four Disadvantages of Medicare Advantage th-cam.com/video/P1axTONRpcU/w-d-xo.html If you don’t travel and your doctor and hospital will stay in the HMO and you review every year during AEP that the insurance company didn’t change the rules on you. Then MA may work out.
So Plan N has medical underwriting every year?.......they could potentially deny re-enrollment?
There is no medical underwriting in your initial enrollment period, when you first join Medicare and select a Medigap plan. Then you keep that plan and that insurer. If you want to switch plans or insurers, you may have to go there medical underwriting when you switch. You do not need to go through it every year. Medigap plans are guaranteed renewal as long as you pay the premium.
Most of the baby boomers who had kids had them by accident right about that summer of love and or soon after. I was an Oops child probably like many others, problem is whether or not your parents gave a shit about you or themselves. Result is many of us are uneducated but low or medium or highly skilled and over time technology takes over many of those skills and some of us have to retrain our brains to move on to another direction to make a living. My parents took my money my bonds and even sold many of my belongings to survive again without a worry for our future. It is the baby boomers who are to blame for the mess they left many of their kids behind!
Sorry, Sean, but I'm a late Baby Boomer and was only 12 during the 1968 Summer of Love. My two children (later Millennials) were both willingly accepted from God as blessings. In every generation, there are spenders and savers. I'm fortunate to have married a saver who kept me on the straight and narrow. And our children have learned to work for what they have.
Great job going through what's going on, Jim! Would love to interview you for my YT channel some day! Appreciate your work.
Thanks for the mention on your channel!
Umm... how does 0.35 bp equal "35 cents on the dollar"?
0.35% net expense ratio means 35 cents for each dollar invested. That is 35 bps. My net expense ratio for my DIY portfolio is less than 5 basis points or 0.05%
@@IwasRetired 35 cents for each dollar invested is a 35.0% expense ratio. 35 bps is 0.35% or 0.35 cents per dollar invested.
@larrymelman you have put me in my place. I’m in the wrong decimal place. But principles apply. DIY gives you lowest fees. This was one of my early efforts.
Very helpful. I am just very afraid of unforseen health down falls and being on Plan N. It would end up costing way more, and they probably would not renew it. Fear of the unknown is really difficult to deal with. You did a really good job at making it all understandable. even better than all the Medicare brokers that have You Tubes and get too deep to understand. Thank you so much.
Thanks for watching!
If you're on plan n can you go to plan g if you need to
You may need to pass medical underwriting in most cases.
@@IwasRetiredthank you. Do you recommend a Medicare broker?
@@vriddle2009I used Boomer Benefits but choose one that works well in your state.
Just present the facts. Don't make this political. You have lost all credibility.
@@stephaniesouthernmoore9723 wasn’t trying to be political. Just citing CMS and major news articles about these two stories! Truth is price controls will do very little for most retirees, especially in 2025!
Present the facts is exactly what he did. Lower prices don't start until 2026 but the insurers will face higher payouts in 2025 due to the $2,000 cap which of course would increase Part D premiums. This is a shell game.
Thanks, Jim. This is a 180-degree change from Medicare's statement that risk corridors and premium pricing would need no change for 2025. It avoids people's reactions to large 2025 premium price increases, like the character in the movie Network saying," I am mad as hell, and I am not going to be taking it anymore!"😀
This was very helpful and brought out some things I had not thought of. Still a ways off from Medicare but gathering info now. Charts usually make my head spin, but I could easily follow your clear and logical explanation and conclusion. Thanks!
Thanks for watching!
This was a very comprehensive and informative video that was easy to follow and understand unlike those done by so many underwriters and salesmen on TH-cam that confuse me with too many technicalities.
Thanks for watching! Yep, I'm not selling, just sharing my own lessons learned. Glad you liked it.
I kinda skipped when you hit longevity... Did you mentions the no 1 reason to take SS 'early'? YOU NEED THE MONEY. I'm happy you have a private nest egg that can provide for all your needs, $40G a yr for a median worker now a days after taxes, more or less. Few, very very few do so, due to our lousy wages. As to longevity. In short, having more money later may not matter much or at all. We will all end up needing a 'nursing home environment' and the older, the more likely. I'm sure there is a table showing this. Waiting unitl 70 to get more money may not mean much if at 80 you're in a nursing home. It will buy you a slightly better nursing home experience but it won't be a big difference. in detail... Here's something to consider, and having worked in long term care on the facilities side only, so not in the trenches, here's a fact. At some point, you'll need long term care unless you have saved up enough to hire someone to take care of you at home, PT then FT. So again for the VAST MAJORITY you will be going into a nursing home some day. If you have vast savings you can pay yearly for a really nice one, if not, you'll need to find the best that will just take all your SS money, what's left of your savings. Best meaning you'll have the best experience there. Some SS only can be pretty dreadful, and SS only isn't likely to be a lot of fun. However there is good news. When you need such care, you may not 'need' such enjoyable an experience. Ekkk yes we deteriorate in all ways, all too many of us. What seems NOW to be a depressing future might well at the time, not be so depressing. If you can still appreciate how you need the care provided and had no other way to get it, you might even be happier there than whatever the alt was. Depressing, yeah, all this is. Sigh.
www.aplaceformom.com/senior-living-data/articles/elderly-nursing-home-population# Social Security was never intended to be sole source of funds, so we do need to save for the future. It is the one benefit with a built-in cost of living adjustment, whereas many pensions do not, and your savings, unless properly invested will not be inflation protected either. As for we will all end up in a nursing home? You need to do a little research. This article says it is about 2.3%. It is more likely that you will need to age in place with support. I'll have some money in my 80s and 90s to arrange such help.
The new generations will have to live there lives as if in the 1930's and hope the economy will improve within the next 50 years of there lives but that may require world war 3 are we in a position both defensively and offensively for another world war. Maybe Elon has some smart answer for you there...I don't know
Plan F was going up $10-20 a month each year I had it. The Florida Blue agent said it kept going up because they were trying to ween people off Plan F, so he moved me to Plan G even though I am not guaranteed that the premium won't go up enough to make it cost as much as Plan F and I will still have to pay the $235 deductible each year. My Florida Blue premium on Plan G is $215/month
Hello. Are you satisfied with Florida Blue? Do they provide good service to you? I’m deciding between UnitedHealthcare Medigap and Florida Blue. Thank you.
@jackielic9161 as for coverage they covered all things my doctor prescribed and still needed them to pay what was over the 80%, but the Plan G doesn't cover my deductible, which right now is about $235/yr. The thing that bothers me is that they were $195/month last year and went up to $215 this year. I don't know where they think a person only living on Social Security can get $20 more to pay them. My doctor even changed from every 3 months to every 6 months so I'm not looked at as often for more money.
Exactly what I was looking for. Excellent job!
Thanks for watching!
I manage my own retirement. I have IRAs and an old 401k. My fidelity account gives me a “free” advisor. She is very good. She does not try to push products on me because she knows I’m an educated investor. You need to know the products that you own. Many advisor charge 1% or more and put people into expensive mutual funds with high fees. My 401k currently is invested in VIIIX which has a low expenses .02% expense ratio. My advice is to educate yourself. Financial literacy is very low in this country and people get drawn into investments with high fees.
Amen! When I was retired, I knew I couldn't afford an AUM advisor! Especially the point-and-a-half that say that they make more when you make more! Do the math! It could add up to a quarter-million in dollars going to someone else instead of your own retirement! I focused on reducing my Net Expense Ratios too and now have a portfolio with total 0.03% NER. Low-cost index funds!
The retirement calculators online, and there are many, are informative and can give you peace of mind. It’s great to know you won’t run out of money even if you live a long time. Of course, dementia care could wreak havoc on this.
Another reason to simplify your retirement into low-cost index funds. It will be easier for your spouse to handle when you can't. And do figure out LTC. I've made my plans.
@@IwasRetired My 95 year old MIL is finally using her long term care insurance benefits and it’s paying for an absolutely wonderful assisted living place. It’s like a quiet but spacious dorm with a private bathroom. Her expenses are k-cups for the coffee maker and getting her hair done on premises.
@@IwasRetired I love your videos. What a helpful activity you picked!
Imagine if you could make your money grow by over 30% every week. Sounds awesome, right? That's what we can do with our fund management service. If you want to see your money working hard for you, join us and let’s make it happen together!
You no longer can take yours then switch to spouce. They stopped that in 2023 (i think that was the year)
faq.ssa.gov/en-US/Topic/article/KA-01202 some older retirees could do that but younger Baby Boomers like me and after can’t do that anymore.
Appreciate the confirmation of my decision. I started on Medicare two months ago and signed up for plan n due to the cost difference. I pay $141 for plan n, plan g was $210. I live in Florida and I get most of my medical care from the Indian health service at no cost to me.
Are these the amounts of premiums on top of the Medicare B? Or are they replacing B premiums?
Medigap plans are in addition to the Part B premiums. See: th-cam.com/video/k6pMBqZIusE/w-d-xo.html . Technically even Advantage plans, which replace Parts A and B, must charge for Part B premiums too. Some may "reimburse" the premium, but everyone on Medicare must pay Part B premiums one way or another.
I never used that tool, but I rolled over my TIAA 403(b) accounts to Vanguard IRAs as soon as I retired. TIAA was too expensive. I used both TIAA and independent advisors while I was with TIAA. I did not have any problem with the TIAA advisors. I am now running a DIY retirement with New Retirement software's help and advice from excellent TH-camrs like I was Retired!
Thanks, Dan. Education is the best preparation!
Drawing down your deferred savings,401k or Ira ,in smaller amounts over a longer period time is a great strategy all day long. Since income taxes and Medicare premiums are based on income , it makes sense to draw less per year over a longer period of time. Waiting to draw later in retirement only increases your required minimum distribution ,bumping you into a higher tax bracket and higher Medicare premium bracket when you turn 73