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Asked by a 64 year old from NY on 9/14/2014
Raymond Denton
Raymond Denton, Reverse Mortgage Consultant says
No, but Medicare doesn't cover Long Term Care, and has lots of "gaps". If you get parts A and B and D, you'll still have "gaps", so Medi-gap (supplementary) insurance can fill the gaps. And Long Term Care is never covered by Medicare, so it'd be wise to research that subject, and purchase a policy, if it makes sense for your situation. And ... (Read More)
Asked by a 64 year old from NY on 9/14/2014
Raymond Denton
Raymond Denton, Reverse Mortgage Consultant says
What type of Broker are you looking for? (Read More)
Asked by someone from PA on 9/15/2014
Personal Financial Planning Department
Personal Financial Planning Department, CFP says
No you will not lose your SS monthly income because you accept the job you have been offered. Your benefits could be reduced based on your earnings, referred to as the retirement earnings limitations test. Currently, they will withhold $1 in benefits for every $2 in earnings over the limit ($15,480) in the years prior to your normal retirement ... (Read More)
Asked by someone from OK on 9/7/2014
Personal Financial Planning Department
Personal Financial Planning Department, CFP says
In order to qualify for social security you must have 10 years of work. Your social security amount is calculated by averaging out the highest 35 years of earnings that you have. This means that if you have already worked 35 years, then not working for those 4 years will not affect your benefit amount. However, if you do not have 35 years of ... (Read More)
Asked by someone from MI on 9/8/2014
Raymond Denton
Raymond Denton, Reverse Mortgage Consultant says
They're about the same as Forward Mortgages. Yesterday I quoted a 4.50% fixed interest rate for a homeowner in Nevada. If I pay fees, I increase the interest rate, just like Loan Officer's do with Forward Mortgages. (Read More)
Asked by someone from KY on 9/3/2014
Personal Financial Planning Department
Personal Financial Planning Department, CFP says
Unfortunately your wife cannot receive both benefits, but she can receive the highest benefit available. The tier 1 portion of the Railroad Retirement spousal annuity is reduced by any social security entitlement no matter whose benefit it is based on. The reduction follows social security law and limits the individual to the higher of any ... (Read More)

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