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Home > Retirement Answer Man Show > #34 Healthcare Options Before Age 65 [Podcast]
Podcast: Retirement Answer Man Show
Episode:

#34 Healthcare Options Before Age 65 [Podcast]
Category: Business
Duration: 00:30:20
Publish Date: 2014-10-06 13:17:03
Description: Medicare eligibility starts at at 65. If you're blessed to be able leave your career earlier, you'll need to evaluate your healthcare options until then. This week I talk with health insurance guru, Misty Kimbrough, about your healthcare options before age 65. Invest Wisely:  3 things you can do to ignore the voices in your head I'm starting to hear voices in my head. Maybe you are too. They're asking, "Should I move to the sidelines? Should I wait to invest?"  Certainly we've heard these voices on our beloved financial media outlets. Over the last 3 weeks or so, equity markets have had some big down days and it's making people nervous. Don't base your investment strategy off of intuition, regardless of how well reasoned you think it is. The fact is professional investors struggle with timing markets. Even those that have great "market calls" can't do it consistently enough to be of much use to you or me. Stop chasing rainbows. Turn off all financial news that peddles predictions, forecasts, etc. Don't fall for the siren sound of predicting the future. It's hard to tune out. We all want certainty. We crave it. It's uncomfortable to sit with not knowing. You must, though, if you are going to focus on the things you can control. Revisit your cash reserves. Having enough cash so your long-term investments can be long-term. Selling at the wrong time because you need the money can be disastrous to your portfolio. Initially target 3 months lifestyle expenses and increase it if your income is less certain. For retirees, we target 18 months of expected lifestyle expenses. Rebalance your portfolio. If you haven't rebalanced your portfolio to your target risk/return profile, do it. Part of investing wisely is consistently rebalancing to your targeted risk/return profile. Plan Well:  Health Insurance Options Before Age 65 This week I talk again with Misty Kimbrough from Red Apple Insurance. She and I discuss the insurance landscape if you've been blessed to retire early. We discuss: How COBRA coverage works Insurance options before you're eligible for Medicare Individual insurance plans (Bronze, Silver & Gold) How to structure your individual policy Should you go on your spouse's plan Insurance add on options. Retirement Answers:  How Do I Choose Long Term Care Insurance This week I added a 2-page fact sheet to give you the basics on long term care insurance. You can access it for free by clicking the cool button below: [spoiler] The Retirement Answer Man Episode #34 Welcome! Welcome to the Retirement Answer Man Show. My name is Roger Whitney. Thank you so much for joining me today. This is the show dedicated to helping you achieve that balance between living well today without sacrificing your tomorrow. Now, can you imagine that? Can you imagine being confident in your financial future? Feeling comfortable enough to live well today and confident enough that you’re not sacrificing your tomorrow and that you’re actually on a good path? I really worry whether many people can have that confidence so they can achieve that balance of living well today and still feeling comfortable about tomorrow. There is so much uncertainty in the world and there always is but there’s so much uncertainty amplified – whether it’s healthcare costs, living too long, ISIS, the world economy, government, inflation, debt. There are so many uncertainties in the world that are amplified for us. That’s what I want to stress. There’s always uncertainty, right? It’s just amplified, over the last five years especially, and that is causing a lot of people, in my opinion, to sacrifice a lot of their current lifestyle, to feel so uncomfortable about their future that they forget to live well today. They forget that today is the only life that they have. They don’t need to necessarily save a ton more or live without or worry about things so much and sacrifice the only life they have. I think we’re a little bit out of balance there and that’s the mis...
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