Category: Insurance

health insurance for 55 and older

Health Insurance for 55 and Older: Real Life Questions and Answers for Health Insurance Before Medicare Eligibility

Many people want to retire before they are eligible for Medicare at age 65.  However, figuring out health insurance — and how to afford that coverage — is very difficult.  Health insurance for 55 and older can be very expensive, depending on your circumstances!  And, let’s face facts, health factors are more prevalent and unpredictable…

How to Deal with Dementia or Alzheimer’s: 5 Retirement Financial Planning Steps

More than 5.5 million people have Alzheimer’s today, and as the baby boomers age, by 2050 that number is projected to triple. Additional research from the Alzheimer’s Association shows that last year millions of family and friends provided 17.7 billion hours of unpaid care — care valued at $220.2 billion — to loved ones with…

retiring to a holiday inn

Hotels, Cruises and Communes! Unexpected Ways to Afford a Little Help as You Age

Most of us are going to need some extra support as we age. Cooking, cleaning, running errands and more are called “activities of daily living” and it can be nice to get help with these tasks as you age. Is retiring to a Holiday Inn the answer? Living independently can be extremely difficult as we…

medicare costs 2018

Medicare Surcharges (IRMAA): How the Wealthier Pay MORE for Coverage

If you have enough wealth, your Medicare costs — specifically your premiums — might be more than you had bargained for. Not everyone knows this, but there are Medicare surcharges (officially called Income Related Monthly Adjustment Amount, or IRMAA) that correspond to income brackets. These additional costs can really add up. It is the highest-earning…

retiring before 62

Retiring at 62 or Before? 9 Ways to Cover Your Health Costs for an Early Retirement

There are a lot of hurdles to overcome when figuring out how to retire early — before 65. However, early retirement health care is one of the most fiscally challenging. Medical care is going to be expensive no matter when you retire, but the picture is more serious for those who retire early, by choice…

Long Term Care: Avoid the Pike Syndrome, Look the Problem in the Face and Make a Plan

No one wants to think about needing long term care. And, figuring out how you are going to pay for it (if you are among the potentially 70% who will require it) isn’t fun.  Of course you hope you’ll be in the 30%! Darol Tuttle is an accomplished attorney with over 23 years experience in…

How a Biden Presidency Might Affect Your Retirement

Joe Biden is now President elect. There are several ways a Biden presidency might affect your retirement, including lower tax benefits on 401(k) accounts and more generous Social Security benefits. Biden’s Plan for Older Americans gives specific details on what Biden would like to do as President to overhaul the nation’s retirement system, shore up…

Changes Coming to Social Security & Medicare: Small COLA and 6 Other New Developments for 2021

To say that Social Security and Medicare are important to the financial well being of seniors would be an understatement. Sixty-two percent of eligible beneficiaries rely on Social Security income for more than half of their income. And almost everyone who is eligible uses Medicare to help fund their healthcare after 65. Here are the…

pros and cons of annuities

The Pros and Cons of Annuities: How to Evaluate Annuities for Your Retirement

If you are worried about paying for retirement, it is worth evaluating the pros and cons of annuities. The Big Takeaways…   Annuities are a great way to provide guaranteed lifetime income in retirement while hedging against inflation and other financial woes. Though less risky, annuities generally yield lower returns than other investment products, and…

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