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What is the best age to claim your Social Security? Some say claim Social Security early at 62. Others say to start when you turn 65 or wait until your Full Retirement Age, or even max out Social Security at 70. Unfortunately, many times the Social Security calculators or advice given is wrong!

Even if you have already started your Social Security, please forward this video to those who have not started it yet.

That’s why in today’s video, we are going to go against the most common suggestion:
“maximize your Social Security or wait until your Full Retirement Age or even 70!”

While there are cases to delay your Social Security, learn why maximizing your Social Security by delaying it until you are older “could actually hurt your retirement savings, increase your taxes, and your Medicare Part B and Part D premiums.”

Pay attention to situations and a real-life example where claiming your Social Security early, even at age 65, might be the best age to claim.

And stay tuned to the end of the video, where we will discuss a strategy to
maximize BOTH your Social Security and Retirement Savings, especially if you only have a 401k/IRA and NO pension.

Learn all factors you must consider before deciding whether claiming earlier or later is better for you.

Call us so we can give you solid suggestions based on all factors we discuss in this video to give you the best age to claim Social Security.

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📖 CHAPTERS TITLES
00:00 Delay Social Security VS. Claim Early!
01:28 DELAY Your SSI In These Situations
02:26 Disadvantages in Delaying Social Security
04:04 Delaying Can Cause Medicare Part B & D IRMAA!
04:56 Benefits of Claiming SSI Early
07:01 How to Maximize Both SSI & Retirement Savings
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HERE ARE THE LINKS

Receiving Social Security Benefits While Working

Medicare Part B & Medicare Part D IRMAA

#socialsecurity #retirementplanning #annuity #hybridpension #KCIIS…(read more)

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As you reach retirement age, one of the most important things that you might want to have is a Medicare plan. But before you dive in, there are some things you need to know about Medicare. In this article, we will go over five things you must be aware of Medicare.

What is Medicare?

Medicare is a federal health insurance program for people aged 65 and above. It also covers individuals with certain conditions or illnesses that require constant medical attention. Medicare is one of the programs funded by taxpayers, and it aims to provide access to high-quality healthcare services.

What does Medicare cover?

Medicare has different parts, each catering to specific health needs. Part A covers hospitalization and inpatient care. Part B covers outpatient care such as doctor visits, lab tests, and preventive care. Part C is also called Medicare advantage, and it offers extra benefits such as dental and vision coverage from private insurance companies. Lastly, Part D covers prescription drugs.

When do you enroll in Medicare?

Enrollment in Medicare can be done during the enrollment period or special enrollment periods. The standard enrollment period is from October 15 to December 7 each year. However, if you miss this period, there are other special enrollment periods that you can take advantage of, such as if you lose your job or if you move to a new state.

What are the costs of Medicare?

Medicare can cover a significant portion of medical expenses, but there are still some costs that enrollees need to shoulder. Part A has no monthly premiums, but there is a deductible for inpatient services. Part B has a monthly premium, and the cost varies depending on the individual’s income. Additionally, there may be co-payments, coinsurance, and deductibles for various medical services.

What are the penalties for not enrolling in Medicare?

If you fail to enroll in Medicare when you are first eligible, you could face penalties or late enrollment fees for each year that you delay enrollment. The penalty rates will vary based on how long you delayed in enrolling in the program.

In conclusion, understanding the basics of Medicare is crucial to ensure you get the coverage you need. Being aware of what Medicare covers, when to enroll, how much it costs, and the penalties for not enrolling can help you make informed decisions about your healthcare plan.