#Medicare Advisors Florida

[medicarevideoguide]

Medicare Advantage Plans: The True Cost of ZERO-PREMIUM

When it comes to Medicare Advantage Plans, the phrase "zero-premium" can sound like a dream come true. After all, who wouldn’t want comprehensive healthcare coverage without paying a monthly premium? However, understanding the true cost of zero-premium Medicare Advantage Plans requires a closer look at the details, particularly for those residing in states like Texas, Florida, and Arizona.

What Does ZERO-PREMIUM Really Mean?

Zero-premium Medicare Advantage Plans are health plans offered by private insurance companies that allow you to forgo a monthly premium while still receiving benefits like hospital, medical, and sometimes even prescription drug coverage. However, the term "zero-premium" can be misleading because it doesn’t mean the plan is entirely free.

Here are a few costs to consider:

Out-of-Pocket Expenses: These can include copayments, coinsurance, and deductibles for services such as doctor visits, hospital stays, and medications.

Network Limitations: Many zero-premium plans require you to use a specific network of doctors and facilities, which may not always align with your preferences, especially in states like Medicare Texas and Medicare Arizona, where healthcare needs vary significantly.

Specialized Services: Additional services such as dental, vision, and hearing may come at an extra cost or have limited coverage.

The Role of Location in Medicare Advantage Plans

Your location plays a significant role in determining the options available to you. For example, residents of Medicare Florida often find a wide range of zero-premium plans due to the state’s large retiree population. Similarly, Medicare Texas and Medicare Arizona offer competitive plans, but the benefits and costs can vary depending on your county or ZIP code.

How to Choose the Right Plan

When evaluating a zero-premium Medicare Advantage Plan, it’s essential to consider the following:

Your Healthcare Needs: Ensure the plan covers your preferred doctors and any necessary treatments.

Prescription Drug Coverage: Check if your medications are included in the plan’s formulary.

Annual Maximum Out-of-Pocket Costs: This is the most you’ll pay in a year for covered services.

By carefully comparing your options, you can find a plan that balances affordability with comprehensive coverage, whether you’re in Texas, Florida, or Arizona.

Final Thoughts

Zero-premium Medicare Advantage Plans can be a great option, but understanding their true cost is key to avoiding surprises. For those navigating their options in Medicare Texas, Medicare Florida, or Medicare Arizona, working with a licensed Medicare advisor can help ensure you make the best decision for your healthcare needs.

Remember, the right plan is one that not only fits your budget but also meets your health requirements. Don't let the allure of "zero-premium" overshadow the importance of a plan that works for you.

Read More...

[alliancehealthgroup02]

Steps to Successfully Apply for Medicare in Florida

Applying for Medicare in Florida can be straightforward if you know the steps and requirements. This guide will help you navigate the process, ensuring you get the coverage you need with minimal hassle.

Understanding Medicare

Medicare is a federal health insurance program primarily for individuals aged 65 and older. It also covers certain younger individuals with disabilities and those with specific conditions like End-Stage Renal Disease (ESRD) or Amyotrophic Lateral Sclerosis (ALS). The program consists of several parts:

Medicare Part A: Covers inpatient hospital stays, limited home health care, and hospice care.

Medicare Part B: Covers outpatient care, doctor's services, preventive services, and some home health care.

Medicare Part C (Medicare Advantage): Combines Parts A and B, often includes additional benefits like vision and dental, and is offered by private companies.

Medicare Part D: Covers prescription drugs.

Eligibility for Medicare in Florida

To apply for Medicare in Florida, you must meet certain criteria:

Age: You are 65 or older.

Disability: You are under 65 and have been receiving Social Security Disability Insurance (SSDI) for at least 24 months.

Specific Conditions: You have ESRD or ALS, which qualify you for automatic Medicare coverage.

Enrollment Periods for Medicare

Knowing when to enroll is crucial to avoid penalties and gaps in coverage:

Initial Enrollment Period (IEP): A seven-month window starting three months before your 65th birthday, including the month you turn 65, and ending three months after.

General Enrollment Period (GEP): If you miss your IEP, you can sign up from January 1 to March 31 each year, with coverage starting July 1.

Special Enrollment Period (SEP): For those still working with employer health coverage, the SEP begins when employment or employer coverage ends.

Open Enrollment Period: For Medicare Advantage and Part D plans, from October 15 to December 7 each year.

Steps to Apply for Medicare in Florida

Confirm Your Eligibility:

Verify that you meet the age, disability, or condition criteria for Medicare.

Gather Necessary Information:

Prepare your Social Security number, birth certificate, proof of U.S. citizenship or legal residency, and employment information.

Apply Online:

Visit the Social Security Administration (SSA) website to complete the online application. This is the most convenient method.

Apply in Person or by Phone:

Alternatively, you can apply by visiting your local Social Security office or calling the SSA at 1-800-772-1213.

Review Your Medicare Options:

Decide whether to enroll in Original Medicare (Parts A and B) or a Medicare Advantage Plan (Part C). If choosing Original Medicare, consider adding a Part D plan for prescription drug coverage.

Receive Your Medicare Card:

After your application is processed, you will receive a Medicare card in the mail. Keep it safe and accessible.

Tips for a Successful Medicare Application

Start Early: Begin the application process as soon as you are eligible to avoid delays in coverage.

Assess Your Healthcare Needs: Evaluate your current health conditions, prescription medications, and anticipated medical services to choose the most suitable plan.

Research Plan Options: Use the Medicare Plan Finder tool to compare different plans. Consulting with an insurance broker or Medicare advisor can also be helpful.

Understand Costs and Premiums: Be aware of the premiums, deductibles, copayments, and coinsurance associated with each plan. Consider potential hidden costs like late enrollment penalties.

Look for Financial Assistance: Investigate programs like Medicaid, Extra Help for prescription drug costs, and Medicare Savings Programs to reduce your premiums and other expenses.

Ask for Professional Help: A health insurance broker can provide personalized advice, review your current coverage, and help you choose the best plan.

Review Your Plan Annually: During the Annual Enrollment Period, review your coverage to ensure it still meets your needs and make adjustments as necessary.

Conclusion

Applying for Medicare in Florida doesn't have to be daunting. By understanding the eligibility requirements, knowing the enrollment periods, and following the outlined steps, you can secure the Medicare coverage that fits your healthcare needs. With proper planning and assistance, you can navigate the process smoothly and enjoy comprehensive healthcare coverage.

For more detailed guidance, consider consulting with experts who can help you make an informed choice and ensure a seamless application process.

[healthinsurancediva]

Health Insurance Diva in St. Augustine, Florida

St. Augustine's trusted health insurance consultant. Let our knowledgeable, caring advisors simplify benefits for individuals and businesses. We offer clear guidance on Medicare, group health insurance, dental, and more. Schedule a free consultation today.

Address: 187 Inlet Drive, St. Augustine, Florida, 32080 Contact: 904-826-6633 Website: https://healthinsurancediva.com

Group Health Insurance St. Augustine, Individual Health St. Augustine, Medicare St. Augustine, Dental Insurance St. Augustine, Vision Insurance St. Augustine, Accidental And Critical Illness St. Augustine, Long Term Care Insurance St. Augustine

https://www.facebook.com/TheHealthInsuranceDivahttps://youtu.be/lnVJbUBX_0chttps://www.healthinsurancediva.com/health-insurance-blog

[apothicare360pharmacy]

Your Healthcare Companion: Health Insurance Near Me

Alliance Health Group

3104 N Armenia Ave, Tampa, FL 33607, United States

+18135014006

health insurance near me

In a world where health takes precedence, securing comprehensive health insurance is not just a wise decision, but it's also a testament to your commitment to your well-being. Navigating the complex landscape of health insurance can be challenging, but with the support of dedicated professionals like Alliance Health Group, you can access the coverage tailored to your unique needs. In this blog post, we'll explore the importance of having accessible health insurance options near your location, the roles played by health insurance agents, brokers, and agencies, and how they can guide you in finding the best health insurance solutions, including Medicare, right in your local community, whether you're in Tampa or the surrounding areas.

The Significance of Health Insurance Near Me

Convenience of Care: Having health insurance near your location ensures easy access to healthcare providers and facilities, enabling you to seek medical assistance promptly when required.

Emphasis on Prevention: Health insurance encourages preventive care, such as regular check-ups and screenings. This proactive approach can lead to early detection of health issues, potentially resulting in better health outcomes and cost savings.

Financial Peace of Mind: Health insurance serves as a financial safety net against unexpected medical expenses, offering reassurance and reducing the financial burden during periods of illness or injury.

Roles of Health Insurance Professionals Near Me

Health Insurance Agents: These professionals represent specific insurance companies and are well-versed in the policies offered by their respective companies. They can provide tailored recommendations based on your needs.

Health Insurance Brokers: Brokers are independent and can offer policies from multiple insurance companies. They provide a wider range of options, helping you compare plans to find the one that best aligns with your needs and financial situation.

Health Insurance Agencies: Agencies often have a team of agents and brokers who work together to provide a comprehensive array of health insurance options. They assist in navigating the complexities of health insurance and provide personalized guidance.

Medicare Insurance Near Me

For those nearing retirement age, understanding and enrolling in Medicare is a crucial step. Here's how health insurance professionals can assist:

Medicare Insurance Agents: These agents specialize in Medicare plans and can help you select the most suitable coverage based on your healthcare needs and financial circumstances.

Medicare Insurance Brokers: Independent brokers offer a variety of Medicare plans from different providers, enabling you to compare options and find the plan that aligns with your specific requirements.

Medicare Insurance Agencies: Agencies focusing on Medicare can provide expert advice on Original Medicare, Medicare Advantage, and Medicare Supplement plans, ensuring you make informed decisions about your healthcare coverage.

Alliance Health Group in Tampa

For residents of Tampa seeking health insurance solutions, Alliance Health Group is a trusted ally. Whether you're an individual searching for affordable health insurance, a family in need of comprehensive coverage, or a senior exploring Medicare options, Alliance Health Group has the expertise to assist you. Their dedicated team, comprising agents, brokers, and advisors, is committed to helping you find the right health insurance plan tailored to your specific needs.

Affordable Health Insurance Tampa

Alliance Health Group understands the importance of affordability in health insurance. They can guide you through a range of options to identify an affordable plan that provides the coverage you need.

Individual Health Insurance Tampa

If you're in search of individual health insurance in Tampa, Alliance Health Group can provide you with personalized solutions tailored to your unique health and financial needs.

Health Insurance Plans Tampa

Alliance Health Group offers a diverse range of health insurance plans in Tampa, catering to individuals, families, and seniors. They can assist you in exploring these plans and finding one that aligns with your healthcare objectives.

Conclusion

Securing health insurance near your location is an essential step in safeguarding your health and financial well-being. Health insurance professionals, including agents, brokers, and agencies, such as Alliance Health Group, play a pivotal role in simplifying the complex world of healthcare coverage. Whether you're seeking individual health insurance, exploring Medicare options, or looking for family coverage in Tampa or nearby areas, these experts can guide you in making informed decisions that align with your needs and financial situation. Remember, your health is your greatest asset, and investing in the right insurance coverage is a proactive step toward ensuring a healthy and financially secure future

[shapeyourlegacy01]

Medicare Supplement Central Florida

At Foundation Legacy Advisors, we understand the importance of Medicare Supplements coverage for securing your financial future. Medicare Supplement Central Florida, Stock Market Risk Seminole, Financial Security Seminole

I am an independent Insurance Advisor (Legacy Advisor) , I provide wealth preservation and retirement planning.

Medicare Supplement Central Florida

[seniorlivingselections01]

Discover Assisted Living Venice of Senior Living Selections

Discover Assisted Living Venice of Senior Living Selections

Discover Assisted Living Venice of Senior Living Selections

The Venice, Florida area is one of the most desirable places to live for seniors. Not only is it home to excellent health care facilities, but it also offers a variety of senior-friendly activities and attractions.

Assisted living Venice is an excellent option for seniors who want to stay in their own homes but need a little more help with daily tasks. It offers a number of services and is less expensive than in-home care.

Independent Living

Venice is a beautiful city with tropical weather highlighting mild winters that make it a perfect place for retirees. The quaint town offers seniors a quiet lifestyle without the stress of home maintenance.

Independent living communities offer amenities, social activities and a worry-free lifestyle for seniors who are still active but may not need daily care. These communities allow residents to live independently with the assistance of a staff member or volunteers, often at an affordable cost.

A senior living advisor at Discover Assisted Living Venice of Senior Living Selections will help you find the right community for your loved one. They will create a list of communities that fit your budget, care needs and lifestyle preferences.

Located in Florida, the Venice area has many resources available to assist older adults and their families in finding affordable long-term care services. These resources include SHINE, a statewide program that offers free counseling on Medicare, private Medicare alternatives, Medicaid eligibility and long-term care insurance policies.

Assisted Living

Assisted living is a type of senior care that allows older adults to live in a community while receiving assistance with activities of daily living (ADLs). Assisted living communities can offer residents medication management, bathing, laundry, housekeeping and meals.

Unlike nursing homes, assisted living communities don't provide 24-hour care, but they do employ trained aides to help with ADLs. They also maintain regular staff members who assist with activities and provide medical services when needed.

Venice is a safe city, with a crime rate that is lower than the national average for both violent crimes and property crimes. This is due to a high level of security and video surveillance in Venice assisted living communities.

Residential Assisted Living is an intimate setting that many seniors enjoy. These "home-like" Assisted Living residences provide activities, pet and music therapy, fitness programs and games like Suduko and crossword puzzles.

Memory Care

Designed to help seniors with Alzheimer's disease and dementia, memory care offers specialized services that are tailored to the specific needs of each individual. Keeping residents' minds active, their spirits high and providing assistance with daily tasks are some of the key aspects of memory care.

Memory care communities provide a range of activities to keep residents engaged and entertained, including puzzles and socialization. They also have secured courtyards and doors that are monitored at all times to ensure the safety of your loved one.

Visiting different memory care communities is an important part of the decision-making process. When touring, make sure to ask about pricing and a breakdown of the types of services offered by each community so you can be confident that you're choosing the best option for your family.

Respite

If your aging loved one needs some extra support, Respite is an option that can offer a break for both the senior and their caregiving family. It can be particularly helpful for independent seniors who may have just had a surgery, and are in recovery.

At Discover Assisted Living Venice of Senior Living Selections, we offer Respite Care to help you or your loved one recover and get back on their feet after a health crisis. Our caregivers can also stay with your aging parent or loved one while you are on vacation.

Memory Care is a special type of care that’s designed to help seniors with dementia live as fully and independently as possible. These communities provide a safe and secure environment with trained staff members who can help reduce the symptoms of Alzheimer’s disease and other memory loss conditions.

Choosing the right assisted living or memory care community is an important decision for families and their aging parents. You should consider how your aging loved one’s needs are likely to change over time, and whether the provider offers adaptable care plans or more services.

Senior Living Selections 

Address : 1079 N. Tamiami Trail #359 Nokomis, FL 34275

Phone No. : (941) 218-3813

Email : info@seniorlivingselections.com

Website : https://www.seniorlivingselections.com/

[shapeyourlegacy]

Burial Insurance Orlando

Helping Florida families protect their loved ones with affordable Life Insurance, Final Expense Insurance, Medicare, and Health Insurance. Our Independent advisors at Foundation Legacy Advisors will help you Shape Your Legacy. Burial Insurance Orlando

#burialinsuranceorlando

[medicareadvisorsflorida]

We offer Medicare Supplement Policies, Medicare Advantage Plans, and Medicare Prescription Drug Plans from multiple insurance companies, assuring our clients have the plan that fits them best. For more visit - https://www.medicareadvisorsflorida.com/

[thebenefitsadvisors]

Employed ? Self-Employed ? 10-99, S Corp. LLC, C Corp ? No worries, health insurance for small business and individuals is simple, call, text, stop by or email. We will show you ways to make it affordable, save money, reduce payroll costs and taxes and a multitude of other options, stop sending money to the insurance company and send it to your account all, while putting money away for retirement. We custom tailor plans and programs to reduce and eliminate co-pays , premiums and more. Don't stress about it, you do what you do best and we will focus on the worry and stress.

[dreaminginthedeepsouth]

* * * * *

LETTERS FROM AN AMERICAN

February 11, 2023

Heather Cox Richardson

Since Representative Marjorie Taylor Greene (R-GA) led Republicans in shouts of “Liar!” when President Biden said in his State of the Union address that “some Republicans want Medicare and Social Security to sunset every five years,” Republicans have been swamping social and news media with accusations that Biden was lying.

In the speech, Biden continued: “That means if Congress doesn’t vote to keep them, those programs will go away. Other Republicans say if we don’t cut Social Security and Medicare, they’ll let America default on its debt for the first time in our history.”

In fact, Biden’s statement was true. It was based on Florida senator Rick Scott’s 11-point plan, released in February 2022, which promised, “All federal legislation sunsets in 5 years. If a law is worth keeping, Congress can pass it again.” (It also promised to “sell off all non-essential government assets, buildings, and land, and use the proceeds to pay down our national debt,” without defining “non-essential.”)

Since Republicans won control of the House, the extremists have also said they would not approve a clean debt ceiling increase without spending cuts. The history of Republican calls for cuts to Social Security runs long and deep, but just reaching back to 2020: Trump vowed to make cuts in his second term; former vice president Mike Pence last week called for “modest reforms in entitlements,” including privatization; Wisconsin senator Ron Johnson has called for moving the programs to annual funding so they would have to be renewed every year; and the Republican Study Committee, which includes more than 150 Republican House members, has called this year for raising the age of eligibility from 66 or 67 to 70 for Social Security and from 65 to 67 for Medicare.  

Biden’s statement came from what was famously dubbed the “reality-based community” in 2002.

That year, a senior advisor to George W. Bush told journalist Ron Suskind that “guys like me were ‘in what we call the reality-based community,’ which he defined as people who ‘believe that solutions emerge from your judicious study of discernible reality.’” Suskind responded by talking about the principles of the Enlightenment—the principles on which the Founders based the Declaration of Independence—that put careful observation of reality at the center of human progress. But Bush’s aide wanted no part of that, Suskind recalled: “He cut me off. ‘That’s not the way the world really works anymore,’ he continued. ‘We’re an empire now, and when we act, we create our own reality…. We’re history's actors… and you, all of you, will be left to just study what we do.”

The statement that Biden won the 2020 presidential election also comes from the reality-based community.

Today, Josh Dawsey of the Washington Post reported that Trump’s campaign hired a consulting firm to try to prove that the election had been stolen. The Berkeley Research Group examined the election results in six swing states but could not find anything that would have changed the outcome. “They looked at everything,” a source told Dawsey: “change of addresses, illegal immigrants, ballot harvesting, people voting twice, machines being tampered with, ballots that were sent to vacant addresses that were returned and voted…. Literally anything you could think of. Voter turnout anomalies, date of birth anomalies, whether dead people voted. If there was anything under the sun that could be thought of, they looked at it.”

The consultants briefed Trump, chief of staff Mark Meadows, and others on their evidence that Biden’s election was legitimate in December 2020—before the events of January 6—but the Trump camp continued to insist the election had been stolen.

The rejection of reality has gone so far that we have in Congress Representative George Santos (R-NY), who appears to have fabricated his entire biography. Yesterday, Jacqueline Alemany and Alice Crites of the Washington Post revealed that the biography of another newly-elected right-wing representative, Anna Paulina Luna (R-FL), is also suspect. Family members dispute her stories of an isolated and impoverished youth, there is no record of a nighttime home invasion she claims was formative, and her embrace of her Hispanic heritage—her mother’s family is Mexican-American—is recent enough that in 2015 she identified herself on a voting registration form as “White, not of Hispanic origin.”

After the story appeared, Luna’s lawyer issued a statement from her saying that “anyone who is a conservative minority is a threat to Leftist control. They can try to discredit me, but unfortunately for them the facts completely blow their story out of the water.”

There is a difference between political spin—which virtually all political operatives use and which generally means making a statement without full context so it is misleading—and rejecting the reality-based community in favor of lies and attacks. Political decisions that are not based on reality rob us of our right to make informed decisions about our government and what it will do.

Social Security and Medicare are currently financially unstable. They can be stabilized by cutting benefits, raising taxes, rearranging government funding, or by some combination of the three. Biden wants to raise taxes; Republicans want to cut benefits, but they won’t say which ones and now deny they meant Social Security and Medicare.

On Friday, Scott introduced a bill to rearrange government funding, saying it would “increase funding” for the programs, but in fact, it finds the money by achieving another Republican goal: cutting the $80 billion from the Inflation Reduction Act that restored funding to the Internal Revenue Service. That funding has enabled the IRS to answer 88.6% of taxpayers’ phone calls this year, up from 13% in the 2022 tax season and 11% the year before. Adding in automated phone support and chat features, 93.3% of taxpayers have been able to get support. Democrats will almost certainly not agree to stop this program, and Scott is likely hoping to get them on record as “voting against” more money for Social Security and Medicare.

Voters need fact-based information to elect people who will enact the policies a majority of us want.

We need politicians to participate in the reality-based community.

—

LETTERS FROM AN AMERICAN

HEATHER COX RICHARDSON

[mostlysignssomeportents]

Health industry lobbyists are posing as "ordinary citizens who don't want Medicare for All"

Here are some "ordinary citizens" who have recently been featured in the press as people who are completely OK with the state of American healthcare and totally opposed to Medicare for All or any other project to reform America's worst-in-the-world health care system: "Mustafa Tameez, businessman, Texas" (Tameez is managing director at Texas-based Outreach Strategists, a public affairs and lobbying firm that reps Blue Cross Blue Shield of Texas, University of Texas Physicians, and St. Luke’s Hospital).

Another health care status quo enthusiast is "Jim Corson, Montana" (Corson was a 14 year veteran of the staff of Sen Max Baucus, the former Senate Finance Committee who killed ACA's public option).

"James Rang" is just an ordinary dude who wrote a letter to the editor opposing single-payer because it was bad for the "free market" (Rang is vice president in the employee benefits department at the Friedman Group -- that is, he's a health-insurance salesman).

Florida businessman "Carlos Carbonell" is one of the "influential leaders" cited in the Orlando Sentinel's piece on opposition to health-care reform (Carbonell is a Public Affairs Advisor” at Converge Strategies, a lobbyist that reps the health care industry).

"Jack A. Roy," a proud son of Massachussetts, and he "[does] understand how this could work" (Roy is the former head of the Haverhill City Republican Committee.).

In Des Moines, "Mark Havlicek" is a businessman who is adamant in his opposition to single-payer (Havlicek is a "political consultant" and "committed Republican activist" who was on Jeb Bush’s Iowa leadership team).

These examples were compiled by Splinter's Libby Watson, who learned about them through press-releases from the lobbying group Partnership for America’s Health Care Future (PAHCF), whose members include Pharma, the pharmaceutical industry lobby group.

https://boingboing.net/2019/03/20/just-a-normal-businessman.html

[sfnewsvine]

These are common and costly Roth IRA conversion mistakes

Ridofranz | Istock | Getty Photographs Roth particular person retirement account conversions could also be alluring when the inventory market dips. But it surely’s straightforward to make errors, monetary consultants say. The technique, which transfers pre-tax IRA funds to a Roth IRA for future tax-free development, might repay when the market drops as a result of you should buy extra shares for a similar greenback quantity. There’s additionally the prospect for tax financial savings, relying on how a lot you switch. “Doing a Roth conversion whereas the market is down is a good thought since extra shares might be transformed for a similar tax cost, however there are some potential pitfalls,” mentioned Matt Stephens, an authorized monetary planner with AdvicePoint in Wilmington, North Carolina.  Extra from FA Playbook: This is a take a look at different tales impacting the monetary advisor enterprise. Listed here are three of the largest Roth conversion errors — and the perfect methods to keep away from them. 1. Failing to contemplate the ‘huge image’ Whereas it is simple to make impulsive cash choices, consultants say it’s vital to evaluate your long-term targets earlier than deciding on a Roth conversion.   “It is basically a prepayment of tax,” defined CFP and CPA Marianela Collado, CEO of Tobias Monetary Advisors in Plantation, Florida. You will want to match the break-even level of the upfront levy on pre-tax contributions and earnings to future tax-free development, she mentioned. However even when the tax-free development will not exceed the upfront prices throughout your lifetime, a Roth conversion can nonetheless be used as a “wealth switch software,” Collado mentioned. After all, this assumes there are heirs to benefit from the future tax financial savings. 2. Not figuring out the ‘pro-rata rule’  “The one mistake that appears to be the commonest is individuals not being conscious of the pro-rata rule,” which components your complete pre-tax and after-tax contributions throughout accounts, mentioned Ashton Lawrence, a CFP with Goldfinch Wealth Administration in Greenville, South Carolina. This is the way it works: To illustrate you could have $1 million in mixed funds from just a few IRAs, and 5% of the steadiness, or $50,000 of the $1 million, is after-tax contributions. This implies 5% of any distribution from these IRAs can be non-taxable and the remaining 95% is taxable, Lawrence mentioned. In case you used $30,000 for a Roth conversion, chances are you’ll assume there will not be a tax invoice, since $50,000 of the funds are after-tax {dollars}, he mentioned. Nonetheless, solely $1,500, or 5% of the conversion, might be non-taxable, making 95% or $28,500 taxable, Lawrence mentioned. 3. Ignoring the complete tax penalties Whereas it is essential to plan for the upfront tax invoice, there are different doable penalties to contemplate, in line with Stephens with AdvicePoint. “Changing an excessive amount of in a single 12 months can push your earnings into a better marginal tax bracket,” he mentioned. “For many traders, it is higher to do partial conversions over a few years, particularly for those who can stay within the decrease brackets.”  Retirees must know the way the conversion will have an effect on adjusted gross earnings, which can set off increased future Medicare Half B and Half D premiums for a 12 months, Stephens mentioned.  “That is notably expensive for married {couples} since each could have increased funds,” he added. Originally published at SF Newsvine

[sarahcadiz-blog1]

Are you dreaming of an early retirement? The earlier you retire, the greater the risk, experts warn

KEY POINTS

Early retirement may be a dream but it comes with risks and for all but the wealthiest Americans.

The earlier you retire, the greater the risks.

There is no substitute for crunching the numbers on the expected costs and sources of income you will have in retirement.

Life may be short but early retirement might be, too, if you don’t have a solid financial plan for life after work.

Whether it’s due to pandemic burnout, a new attitude on life or an optimism fueled by surging stock and real estate markets, more Americans appear to be retiring early, based on U.S. Bureau of Labor Statistics data.

The labor participation rate for Americans over age 55 ticked up 0.7% in January to 39.1% but remains well below the 40.3% recorded in February 2020 and has recovered more slowly than the rate for the general population.

“I think Covid has increased the interest in retirement generally and accelerated the number of people retiring early,” said certified financial planner Lazetta Rainey Braxton, co-CEO and senior financial planner at 2050 Wealth Partners in Brooklyn, New York. “People are rethinking everything and often more emotionally than practically.”

For those who have the resources, retiring from the daily grind opens a new world of opportunities. However, it comes with risks and for all but the wealthiest Americans — and the earlier you retire, the greater the risk.

“If you don’t have debt, have a track record of living within your means and have enough resources to cover emergencies, knock yourself out,” said Danny Artache, a financial advisor based in Jupiter, Florida. “But if you run out of money, you could end up being a greeter at Walmart.”

Are you ready to retire both emotionally and financially?

There is no substitute for crunching the numbers on the expected costs and sources of income you will have in retirement. Simply settling on a “comfortable” nest egg figure will not cut it.

Costs include housing, insurance — if you retire early, you’ll need to buy health insurance before Medicare kicks in at age 65 — food, gas and vehicle expenses. Major income sources include pension payments, Social Security benefits and withdrawals from your investment portfolio.

Braxton advises her clients not to carry any debt into retirement, except in the rare cases where the value of the mortgage interest tax deduction is greater than the cost of your annual mortgage payments.

If you plan on traveling and/or taking on hobbies that cost significant money, incorporate that into your ledger.

“Don’t be afraid of your numbers,” Braxton said. “You need to know what they are.

“The more comfortable you are with those numbers, the more easily you can pivot when things change.”

And they will change. A widely accepted rule of thumb is that you will spend about 80% of your working income annually in retirement.

However, no matter how well you itemize expected costs and income sources in retirement, there will be curveballs. There are several major unknowns that make retirement planning particularly difficult.

“Retirement is the mother of all financial planning problems,” said Christine Benz, director of personal finance at Morningstar. “There are so many variables in the mix.”

The three biggest are your health and longevity, the performance of the investment markets and the level of inflation through retirement.

The first factor is entirely personal. Based on your current health and family history, you may not anticipate a long retirement, but conservative retirement modeling typically uses a 30-year time horizon.

Another rule of thumb, first articulated by financial planner William Bengen, is that with that conservative 30-year time horizon, you can safely withdraw 4% of your portfolio assets annually, assuming a 50-50 stocks-to-bonds portfolio.

The rule could use a tweaking, suggested Benz. The remarkably strong returns on stocks and bonds over the last 30 years may not be repeated in the next 30. In an environment of low bond yields and high equity valuations, investment returns could be thinner going forward.

“The next decade may not be great for market returns,” Benz said. “If we are dealing with higher inflation, it adds another risk.” Morningstar now estimates that the “safe” portfolio withdrawal rate should be lowered to 3.3%.

If that withdrawal rate combined with guaranteed pension and Social Security benefits can cover costs in your average year of retirement, you’re in good shape. However, if you are at all anxious about your financial position heading into retirement, keep working.

“Working longer in a job you hate is no good, but the job market is so strong you may be able to swing a more comfortable work/life balance,” Benz said.

The value of additional income-earning years is enormous. It will stretch your resources in retirement and reduce the risk of running out of money down the road.

“It has a multiplier effect,” Benz said. “When you continue earning income, you don’t have to tap your investment portfolio and you increase your future Social Security benefits.

“Your assets can continue to grow and possibly help you to delay taking Social Security,” she said, in order to receive a higher benefit.

Your retirement might be shorter, but it could be much sweeter.

#lifehealthadvisors #areteautomation #financialfreedom #retirementplanning

Credits: Andrew Osterland

Date: April 25, 2022

Source: https://www.cnbc.com/2022/04/25/heres-why-you-may-want-to-think-twice-about-that-early-retirement-plan.html

[theotheristhedoctor]

This is actually really important. The whole point of voting isn't that the person in power automatically does whatever you want, without being asked. It's to put someone in charge who you think will listen to you the most.

Biden isn't the Messiah. He's not some cheerful Pennsylvanian Gandelf who's going to offer us the solution on a plate. He's a left-leaning central establishment politician with forty years of expertise in managing complex political interactions. He's a pro-choice Catholic who married two men and supported foreign interventions under Republican and Democrat presidents.

All of which means he is (1) willing to learn and adapt, (2) not a ideologist but a pragmatist, and (3) politically savvy and open to listening. Which means YOUR job, my American friends, is to :

(1) Speak up. Get audiences with his advisors. Support organisations that you know the centre listen to, who can get your message across.

Biden moved to supporting Gay Marriage before Obama - indeed his public support of it forced Obama's hand. That happened because people found the time to talk to a deeply religious and traditionalist man, and showed him how to be better. We can do that again, for trans people and disabled people and for everyone else who we need to fight for.

(2) Find REAL solutions. Biden is never going to support things that sound good but would be risky, politically or practically. Uber-taxes, full withdrawal from international conflicts, Medicare for all - Biden can't support these no matter how much they sound good, the costs will be too high for him.

But he COULD support an expansion of health cover during the COVID crisis, because it's popular. And maybe in that we can get some agreements that respiratory issues for the population will be covered for a decade. Which will then become the normal, and mean in ten years when the question gets raised it will be unthinkable to stop. And maybe from there we can ask: hey, this has worked really well, why aren't we doing it for everyone?

On the same front, Biden will NEVER back a Defund the Police campaign. But he COULD support a Community Care Policing program. He could agree that no more than 5% of a police budget should go on weapons and protest control services, and that these things should be centralised to the govener rather than the mayors or local police. And he COULD support a proposal that you have to be an officer for more than 5 years, and with a good record, to be allowed to carry a firearm at work. Or mandatory replacement of firearms training with de-escalation training during police school, with firearm training only once graduated. Point is, we have to tailor what we ask for so it gets listened to. Big changes scare people; we have to take little steps.

(3) No Let Up. We can push for our causes sensibly, but we also have to make a lot of noise. We have to get involved locally, we have to start filling up democratic nominations in blue states with progressives. In Red states, we may need to rely on Centrist candidates, but even there we need to get progressive voices out there. We need to scare the democratic party into taking us seriously, and we need to show everyone that progressive voices are present everywhere, and a winnable electorate.

Georgia is proving that it can be done. We need to push Florida in the same direction, and Texas and Pennsylvania. If in 2 years we can register enough voters in those three states, we can definitely flip the senate. We can also change the political landscape; without Texas, Republicans can never win the Presidency again. If the democrats knew Texas, Pennsylvania and Florida were locked for them by progressives, they would suddenly be much more inclined to listen to us.

Congrats to us, America - now let's go fucking bully Biden

[johnrobbinsuk]

Medicare Broker Florida Ildiko Insurance – Medicare Questions Medicare Enrollment Help for Seniors.mp4 from John Robbins on Vimeo.

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