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Are You Planning For THIS Retirement Cost?
Manage episode 363654831 series 2891513
Effective retirement planning involves not only knowing your sources of income, such as Social Security but also having a clear understanding of the expenses that will be incurred from that income. It's very important to consider all potential costs to ensure a comfortable retirement. In Scott’s experience, there is one cost that many individuals tend to overlook or underestimate, and that's what we'll be discussing in today's episode.
Here's what we’ll discuss in this episode:
- Are you planning for Medicare and healthcare costs? (0:43)
- Healthcare costs can make up a big part of retirement expenses. (4:25)
- Taking a look at Medicare premiums and deductibles. (6:06)
- What is IRMAA and who has to pay it? (10:28)
- IRMAA charges could come back in later years of retirement. (13:32)
- Are you accounting for inflation with healthcare costs? (16:31)
- Some factors to plan for when building your income plan. (17:37)
Want to get in touch?
Web: https://sierensfinancialgroup.com/
Email: office@sierensfinancialgroup.com
Phone: 847-235-6989
Read more and get additional financial resources here: http://lifemoneyshow.com
Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ
153 эпизодов
Are You Planning For THIS Retirement Cost?
The Retirement Show: Your Life, Your Money with Scott Sierens
Manage episode 363654831 series 2891513
Effective retirement planning involves not only knowing your sources of income, such as Social Security but also having a clear understanding of the expenses that will be incurred from that income. It's very important to consider all potential costs to ensure a comfortable retirement. In Scott’s experience, there is one cost that many individuals tend to overlook or underestimate, and that's what we'll be discussing in today's episode.
Here's what we’ll discuss in this episode:
- Are you planning for Medicare and healthcare costs? (0:43)
- Healthcare costs can make up a big part of retirement expenses. (4:25)
- Taking a look at Medicare premiums and deductibles. (6:06)
- What is IRMAA and who has to pay it? (10:28)
- IRMAA charges could come back in later years of retirement. (13:32)
- Are you accounting for inflation with healthcare costs? (16:31)
- Some factors to plan for when building your income plan. (17:37)
Want to get in touch?
Web: https://sierensfinancialgroup.com/
Email: office@sierensfinancialgroup.com
Phone: 847-235-6989
Read more and get additional financial resources here: http://lifemoneyshow.com
Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ
153 эпизодов
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