Listen to These Health Insurance Tips if You're Planning to Retire Early!

Affording Health Insurance Before Medicare...(read more)

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Retiring early can be an exciting prospect for many individuals looking to enjoy their golden years ahead of schedule. However, there's one critical factor that must be accounted for before taking the leap into early retirement: health insurance. Retiring before age 65 means that you won't be eligible for Medicare, which can lead to higher healthcare costs and potential gaps in coverage. Therefore, it's essential to consider the following health insurance tips when planning for early retirement. 1. Explore Your Options Before leaving your job, research and compare different health insurance options available through the private marketplace. Often, you can find more affordable coverage through the Affordable Care Act (ACA) health insurance marketplace, where you may qualify for subsidies based on your income and household size. Additionally, you may want to consider options like short-term health insurance or health sharing ministries. 2. Consider COBRA COBRA allows you to continue receiving health insurance through your employer plan for up to 18 months after leaving your job. While this is typically a more expensive option, it can provide a sense of security during the transition between employer-based coverage and other options. 3. Plan for Your Health Savings Account (HSA) If you're enrolled in a high-deductible health plan (HDHP), you may have an HSA. This account allows you to save pre-tax dollars to pay for eligible healthcare expenses. Be sure to plan for your HSA contributions as you prepare for early retirement to ensure that you have enough funds to cover your healthcare needs. 4. Budget for Healthcare Costs Without employer-sponsored health insurance, you'll have to pay for your healthcare costs out-of-pocket. Hence, it's crucial to budget for these expenses and create an emergency fund for unexpected medical bills. 5. Factor in Part-Time Work If you plan on working part-time after retiring, your employer may offer health insurance coverage. However, it's essential to understand the eligibility requirements and costs associated with this coverage to determine whether it's a feasible option. In conclusion, health insurance is a vital aspect of early retirement planning. By exploring your options, considering COBRA, planning for your HSA, budgeting for healthcare costs, and factoring in part-time work, you can ensure that you're prepared for any healthcare expenses that may arise during your retirement years. https://inflationprotection.org/listen-to-these-health-insurance-tips-if-youre-planning-to-retire-early/?feed_id=97896&_unique_id=64627d2f102cd #Inflation #Retirement #GoldIRA #Wealth #Investing #CliftonParkFinancialPlanner #healthinsurance #retirementplanning #RetirementTheory #SpousalIRA #CliftonParkFinancialPlanner #healthinsurance #retirementplanning #RetirementTheory

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their

New York Times Company Continues to Add Online Subscribers at a Steady Clip

Business News by Timothy Sumer - The company’s first quarter results showed total paid subscriptions reaching 4.5 million. Online ad revenue rose 19 percent, to $55 million, thanks, in part, to “The Daily” podcast. from NYT > Business https://nyti.ms/304QC2w via Timothy Sumer

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom Should I Rollover My 401k to anIRA 🤔 || 401k to IRA Rollover Pro's & Con's In this video, I want to talk about rolling over your 401k to an IRA Rollover and if that makes sense for your retirement planning . I want to look at the pro's to rolling over a 401k and also the con's to rolling over a 401k. When you should rollover your 401k to an IRA and when you should NOT rollover your 401k to an IRA. Let's talk about when you should NOT rollover your 401k to an IRA: 1. You are still working and are under the age of 59.5 2. You are 55 and considering retirement (Rule 55) 3. Increased creditor protection in a 401k 4. 401k's offer loans--IRA's do not offer loans Why you SHOULD rollover your 401k to an IRA 1. More investment choices in IRA over 401k 2. Lower investment fees 3. Convert IRA to Roth IRA (Roth IRA Conversion) 4. Consolidation from multiple 401k'

Timothy Sumer

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