The Best Retirement Advice EVER for Retirees
Вставка
- Опубліковано 15 сер 2023
- How Retirement Planning has changed.
GET YOUR OWN PROFESSIONAL Social Security Analysis and Strategy Report: www.socialsecuritylane.com/
Lane's Financial Planning Firm: www.martinsenwealth.com/
Free Downloads www.martinsenwealth.com/resou...
Amazon - Lane's book: The Holistic Retirement Planning Revolution a.co/d/dR2jy1o
Thank you for sharing this video.
Thanks for the insights and recommendations.
I retired in 2016 at 55 and my last few years working averaged between 70 and 80k a year. This year fully retired I am going to make 108K from 4 incomes Pension, SS, Annuity, IRA distributions. I am also voluntarily withholding 22% taxes on my SS. House paid off in 2000.
Stressed about retirement 😢
how about some of those strategies to tax plan? what are those things? when should they be done?
One of my BIGGEST concerns is about having to enroll in Medicare, which my understanding is MANDATORY. A friend if mine retired a couple of years ago, and she HAS to pay between $400-500 a MONTH for Medicare. That's a HUGE expense!!😬
Medicare premiums are income based. If single and your income is over 97,000 then you are subject to a medicare cost increase which increases with more income. It is called IRMAA. If below that income your 2023 premium is $164.90
just: You do not have to enroll in Medicare part B. You can get coverage through a private market Medicare Advantage plan or just not be covered. That would be a horrible mistake though. Medicare part B is $165/month.
@howardfriedman7077 Yes, after your comment and @jeans9265 I checked with my friend who pays such a large amount per month, and it's because she has a supplemental policy in addition to the Medicare policy. And that's BECAUSE Medicare doesn't cover very much! I'm assuming that's what you're referring to 😑
@@JustMe-cs5zq Medicare Part A, which is free, covers hospital stays. Medicare part B, which is $165/month, covers physician visits and other services (tests, imaging, etc.) pays 80% of the negotiated prices. A supplemental plan from a private insurer, Medigap, covers the 20% Medicare part B doesn't cover. You can also get a private plan, part D, for drugs. I have B, Medigap and D and pay a total of about $345/month. There are many different Medigap and D plans though and your deductibles and premiums can vary widely.
@@jeans9265I did not know that , based on your income,I’m going to look it up
Hello Sir, thank you for sharing your expertise. Perhaps, you could make a video on my situation.
I took early retirement @ 62, because I married a younger lady, and we had a child when I was 58. So now I have a dependent, that my wife cares for. Therefor my child and my wife both get half of my full retirement amount. I am self employed, and filing jointly, so our earning limit is $34k or so after expenses, which works fine for us.
Question: My wife has taken a job, so would it be beneficial for us to file separate now, to raise our earnings amount to $2140.00 each? Or does the job even effect her SS benefits? Thank you for your time.
I switched my entire 401k contributions to Roth 401 6 years ago. It's over a million now but the Roth is building well. I like paying taxes now in case something goes bad at 60 or so.
I am 60 years old and I have been working for 20 years. I stopped working July 30 2022. I have to stop to work because of my illness husband. My husband is fully retired. He is 81 years old. Am I eligible for sports binifit from social security money. Please let me know. Thank you very much.
I'll just never retire... I've worked hard all my life.
Retirement is often boring anyway.
71 , full time and see no alternative.