In Ohio, go to Cedar Point on the Lake Erie shore. It is the best roller coaster park in the country.
@TheretirementnerdsСағат бұрын
My wife will be all over that! She LOVES roller coasters.
@dynodon91822 сағат бұрын
My Advantage plan paid for 4 cancer surgeries, 35 radiation treatments and immunotherapy. And I pay zero copay for insulin. No complaints in CA.
@Theretirementnerds2 сағат бұрын
Thank you for sharing this!
@jeffwise63982 сағат бұрын
Texas is like 4 states in one. I live in the center just SW of Austin. We have 6th St and music downtown, or South Congress Ave where you'll find the Keep Austin Weird vibe. Come west to Dripping Springs in the Texas Hill Country to visit the famous Hamilton Pool (Look it up) or south from here to the Natural Bridge Caverns just north of San Antonio for mind-blowing caves. Go south to the gulf coast for some fabulous sea food ala Galveston Island. Stay east in the Piney Woods for the trees. West Texas is Friday Night Lights and the artsy desert town of Marfa. There's more!
@Theretirementnerds2 сағат бұрын
Thank you so much for the tips!
@amiizzy57173 сағат бұрын
Feeling a bit blue about all these decisions. Well at 61 years old I guess I have a few years to figure it out
@Theretirementnerds2 сағат бұрын
You have time 🙂 May all look much different in 4 years
@annamartino56816 сағат бұрын
Guys, what a Great positive to be thinking about "15% of Social Security Benefits not Taxable break!" video and thank you for this. Never thought that in Retirement one could better control their Income Taxes, especially after Secure 2.0 Act decimation of "Stretch inherited IRA" for Children and Grandchildren to be "labled" as Non Qualifying Beneficiaries for 401k and Rollover IRAs rules to withdraw all money by the 10th Year and pay taxes on the years right after a Parent or Grandparent just died. Regarding watching out that your Income within 2 years of Retirement (including involuntary being forced out of your job or getting an advanced desease), your Spreadsheet should definitely have a Warning at least for IRMAA MEDICARE SURCHARGES (for Singles it's even a penny extra over $103k which stunning injustice for those professionals who retire and are forced to be suddenly on MEDICARE) Thinking of these IRMAA SURCHARGES one must be thinking of EXTRA HIDDEN TAX PENALTIES via most expensive in your Lifetimes MEDICARE and which is not covering much (including Dental, Vision, Hearing and many good medications not covered at all on MEDICARE). Ideally you would want to include these IRMAA SURCHARGES threshold Table at least as a warning for those who are trying to do Rollover to ROTH Conversions before 2025 when Taxes are going to JUMP by at least 3% for most of people including used to be in lower Tax Brackets. A favor to ask, for those who are on SSDI and younger than 65 please allow Users to Edit Standard Deduction which is NOT $32k for couples as your spreadsheet has it for those who got advanced desease by age 50 (which is very common) and allow Users to Edit it based on their own age, as it's changed for 2024 but what if I would like to run this for 2023 or after 2025 when Trump's Tax Cuts and Jobs Act is set to Sunset to 2017, and Standard Deduction back then was $6500 for Singles. For 2024 From IRS $14,600: for 2024, the standard deduction amount has been increased for all filers, and the amounts are as follows. Single or Married Filing Separately-$14,600. Married Filing Jointly or Qualifying Surviving Spouse-$29,200. Head of Household-$21,900. Your spreadsheet should have this Standard Deduction as Editable Field should the User try to get an idea what would be in 2025 or after. From Tax Policy Center: "Will the standard deduction go down in 2025? All of the individual tax provisions of the 2017 Tax Cuts and Jobs Act (TCJA) expire at the end of 2025. Among the changes: Individual income tax rates will revert to their 2017 levels. The standard deduction will be cut roughly in half, the personal exemption will return while the child tax credit (CTC) will be cut". They should vote accordingly if they care about where they send their Tax $ and in return get Tax Torpedo designed to get more and more lower income to be hit by Social Security Benefits which was originally Untaxed in Retirement benefit until 1980s someone (you can Google his name) decided to Tax it while lowering Taxes on the super wealthy excluding their compensation from being subject of Social Security Taxes while working). 😂
@michaelhoward39168 сағат бұрын
Color blue
@Theretirementnerds6 сағат бұрын
Thank you! 🔵
@rd46608 сағат бұрын
If you have health insurance through an employer or retirement plan they will automatically move your primary coverage to medicare with your private plan being the secondary, backup, play. I gotta say since I transitioned to medicare + private coverage, my doctor is more than happy to order tests and such. I've never received better care in my life. Your mileage may vary.
@Theretirementnerds6 сағат бұрын
Hi there, there's some stuff to unpack here. If the employer has fewer than 20 employees, Medicare becomes primary. If the employer has 20 or more employees, the employer plan stays primary. If you are with a company of 20 or more, and don't take Medicare, you are still covered because there is not a primary/secondary switch like there is on company plans of less than 20. Hope that helps!
@sherriephillips52348 сағат бұрын
Thank you for your help Isn't your elephant's trunk supposed to be up?😊
@Theretirementnerds6 сағат бұрын
That's what I've been told! My kids got them for me 🙂
@wisdomfromthewoods363811 сағат бұрын
Question; I dont see where you include the amount a retired person pays out / out of the SS payment / would that not be relevant to the bottom line cost?
@Theretirementnerds8 сағат бұрын
That would be the Part B premium 🙂
@patemerick585611 сағат бұрын
Red
@Theretirementnerds8 сағат бұрын
Thank you! 🔴
@bonnieleonard513412 сағат бұрын
Something to note,,,,,if you are 65 or older, covered on your company or your spouses company plan and either gets separated by the company and are offered COBRA, you must then sign up for Medicare as COBRA is not considered a special circumstance to sign up for Medicare after 65.
@JudgeCommitee-ck5wq16 сағат бұрын
We the clients say protect your inheritance with the Latin Law Model Interdiction Trust to interdict Trust Forgers and Financial Elder Abuse.
@CandycaneBeyond17 сағат бұрын
Brilliant! I live just outside Chicago in Indiana. Head to the beach and walk around the dunes.
@Theretirementnerds8 сағат бұрын
Sounds awesome! Thank you for the recommendation!
@Mattxwill119 сағат бұрын
Huh? You can only put $8k into a roth if you are over 50. This guy is saying put $30k? (~25 minutes in) And if you convert a traditional to a roth its a taxable event. I find this extremely misleading.
@Theretirementnerds17 сағат бұрын
How so? He's talking about a Roth 401k, that's different than a Roth IRA.
@stereo889320 сағат бұрын
While in CT, you must see Mystic Seaport. It's historic. Fun, educational, and pretty. Oh, also wonderful fresh seafood.
@Theretirementnerds19 сағат бұрын
Sounds like a great time! Thank you for sharing!
@scottkawaguchi940420 сағат бұрын
Isn’t a Roth slightly better due to the fact when you hit retirement age you have no RMD and you can leave your money in your Roth to compound more? Also you have freedom to retire in another country and have a savings that is not earmarked for US taxes.
@davidfolts589321 сағат бұрын
You have an open invitation to come visit when you are in Ohio!😀
@Theretirementnerds21 сағат бұрын
What part of Ohio are you in? Feel free to send an email if you don't want it all over KZfaq 🙂 [email protected]
@davidfolts589320 сағат бұрын
@@Theretirementnerds Northeast, Ohio, near Youngstown.👍
@justimagine240321 сағат бұрын
Work as long as you can. duh
@wendysherbert325722 сағат бұрын
Purple! I am 57 now and just was forced into retirement after 20 years. Soooo…..this was extremely helpful! Thank you!
@Theretirementnerds21 сағат бұрын
So glad it was helpful! Thank you for watching! 🟣
@janishigakiКүн бұрын
Blue! I don't think you're long winded. This information is complicated, and I so appreciate your thoroughness!
@TheretirementnerdsКүн бұрын
Thank you so much! 🔵 So glad to know it's helpful!
@sojournertutor2395Күн бұрын
Teal...What about someone like myself who has been disabled since 20 receiving Medicaid permanently. Medicaid pays for so much more and I've had a need that was not covered. But they signed me up automatically at 65 and call it my primary insurance. running into all kinds of problems getting my needs met because Medicare won't let Medicaid pay when they won't??? Why can I not drop MEDICARE????
@philip5899Күн бұрын
Sharks !!!
@JagLiteКүн бұрын
That's a very interesting point about the plans vary by state. I look forward to watching your road trip videos and learning about the Medicare differences by state. Thanks! I will go to the new channel and subscribe... right now!
@TheretirementnerdsКүн бұрын
Thank you so much!!
@j_ben_bКүн бұрын
And this is how and why President Obama ruined private health insurance. Individuals and companies have been forced to redesign their health insurance offerings due to ridiculously high premiums. Insurance through the "portal" is terrible (high deductibles, limited access to care) and essentially unaffordable outside of a plain vanilla "Bronze Plan". Avoiding Medicare for individuals working in a large (and not the 20+ employee government definition) company with better coverage (low out of pocket cost, low premium share) might make sense, but for everyone else... Medicare A & B is a must from a financial perspective. Part D is optional and can be delayed until you actually have a pharmacy-related need, and the "penalty" is worth avoiding the early years premium.
@rono1ronoКүн бұрын
Black is my favorite color. Good info. Thanks!
@TheretirementnerdsКүн бұрын
Thank you so much for watching! ⚫️
@kirkp_nextguitarКүн бұрын
Interesting. But since her treatment was over two calendar years, shouldn’t you include two years of premiums in the totals?
@TheretirementnerdsКүн бұрын
Once she passes away, premiums stop. Hope that helps!
@daleholler8277Күн бұрын
Green, turning 65 still working, what are specific Questions to ask my employer insurance office regarding taking or waiting for Medicare . Thank you
@TheretirementnerdsКүн бұрын
Thank you for watching! This video and free dow load in that video description will help analyze costs: kzfaq.info/get/bejne/iNSBgNWfnNzTj2g.html Questions: 1. Do you have more than 20 full time employees? 2. Is the drug plan creditable? 3. Difference in employee-only cost vs employee plus spouse, if you have a spouse. Hope that helps! 🟢
@RandHallКүн бұрын
New Hampshire: take the boat out to the Isles of Shoals. Only a few miles off shore. So peaceful. Portsmouth is a nice Colonial town. Great food. Strawberry Banke is there, too. The Underbelly Tour of Portsmouth is hilarious.
@TheretirementnerdsКүн бұрын
Sounds so fun! Thank you!!
@StorytellerSueWКүн бұрын
Turned 65 in March. Retiring tomorrow! Had sushi for dinner. Yumm! Love your videos and info; you are the best!
@TheretirementnerdsКүн бұрын
Congratulations! What a big day for you tomorrow! Appreciate you!
@BananalaneКүн бұрын
Purple! How do people saving money by not enroll in Medicare at 65, if they have company’s insurance already. I didn’t hear from your video. Thanks!
@TheretirementnerdsКүн бұрын
They don't pay the Part B premium by staying on the company plan 🙂
@deanrotering879Күн бұрын
Everyone always talks about RMDs eating you alive. What if I have been withdrawing since I was 60 all the way to 72. Do I still have to worry about RMDs because I have been withdrawn money for 12 years already?
@TheretirementnerdsКүн бұрын
That'll depend on balances. Zacc tackles RMDs more in this one: kzfaq.info/get/bejne/Y7uPpthoptGbgXk.html
@deanrotering879Күн бұрын
@@Theretirementnerds thank you. I watched the video. I think I’m borderline. My investment portfolio is on the conservative side . I’m focused on income more than growth. I will be making withdrawals from 60 onward. I’m going to start by asking my accountant about it and go from there. My gut says small Roth conversions may be in my future.
@markboler8411Күн бұрын
Purple - this is a very informative video. Thank you.
@TheretirementnerdsКүн бұрын
Thank you so much for watching! 🟣
@bluesunproductions9079Күн бұрын
This is so confusing. How do senior citizens make decisions about this? I swear we could make medical insurance any more complicated if we tried
@TheretirementnerdsКүн бұрын
It's wild, right?
@scottstreiber12702 күн бұрын
My favorite color is (Ducati) red. I work at Delta Airlines. I’m going to be 65 this July. I do have health insurance through UnitedHealthcare. It’s an HSA gold obvious obviously it’s not the best in the world but I need to know should I go for Medicare part a or should I just wait.I believe I’ll be working until about 6870 years old. I would appreciate if you let me know what I should do at this point.
@TheretirementnerdsКүн бұрын
Thank you for watching! 🔴 If you plan to stay on the HSA plan, don't take Part A because them you and your company would need to stop HSA contributions.
@davecohn64072 күн бұрын
One additional point . Yearly premiums increase as you age
@TheretirementnerdsКүн бұрын
Great point! We cover that in this video: kzfaq.info/get/bejne/j8yPf7Wd1L7Rg6M.htmlsi=hABhP3F3reJvl4Xd
@kathydavenport31522 күн бұрын
Thanks...gold-en stuff here.
@TheretirementnerdsКүн бұрын
Thank you so much! 🟡
@robdel_actual2 күн бұрын
Why would anyone pay you vultures if you give free healthcare to illegal aliens?
@agomez68482 күн бұрын
Thanks, got to fly like the piegon outside.
@Theretirementnerds2 күн бұрын
Thank you for watching! 🕊
@masterlee43702 күн бұрын
Gosh 2 things struck me right away in this video. The first was I have after watching many videos actually thought about "Why someone doesn't do a breakdown of every state" But then I thought about how much work it would be. The second thing was I have not done it, but when I found out what a bucket list was one of the things I thought everyone should do if they can is go to every state. I just thought it would be awesome to say you did it. My wife has 12 magnets of states she has been to on our fridge. Never ever thought of putting the 2 together. What a brilliant and challenging idea. National Lampoon's Vacation keeps popping in my head as you are driving on the Interstate and Christie Brinkley pulls up on the side of you. But that's a whole another story lol. I already subscribed to the other channel. I would think a lot of people would want to follow the journey.
@Theretirementnerds2 күн бұрын
Thought you'd enjoy this announcement 🙂 should be an exciting adventure and hopefully helpful for the Medicsre folks!
@williameddy38952 күн бұрын
For Vermont Shelburne Museum Ben and Jerry's plant in Waterbury, downtown Burlington cruise on Lake Champlain.
@Theretirementnerds2 күн бұрын
Thank you so much!
@lindaalely43052 күн бұрын
This guys guys is such a nerd! And, I like him!!
@powderriverfarrier2 күн бұрын
Absolutely true. If you folks make it to northern VA dinner is on me.
@Theretirementnerds2 күн бұрын
I think we'll be staying in Roanoke and then headed north up through DC, Maryland, Delaware, etc. Are you between Roanoke and DC?
@powderriverfarrier2 күн бұрын
@@Theretirementnerds Arlington
@PaulusTHC2 күн бұрын
Blue is my favorite color. Thanks for making the video! My wife and I are under the group plan (> 20 employees) offered by my employer who pays for the HDHP premium. So our costs are the deductible and coinsurance capped by an annual out of pocket maximum. Medicare is really not a good option by comparison.
@Theretirementnerds2 күн бұрын
Thank you so much for watching! 🔵 Employers that pay for the premium help make this decision easier 🙂
@christophervanmeier16482 күн бұрын
California--Yosemite Valley (Make reservations Early)
@Theretirementnerds2 күн бұрын
Thank you!!
@klem41592 күн бұрын
When I was prepping for retirement and had to select post retirement healthcare, I was appalled at the, “You’re on your own.” feeling. The heft of the “Medicare and You” booklet alone was intimidating and terrifying. Forcing myself to read through it only increased my anxiety. I was not alone in this as others I spoke to felt similarly ( including nurses I worked with). I live in MA which offers a program called S.H.I.N.E. which is staffed by retired volunteers. I visited my local person when I was close to full retirement who told me I needed to apply for my Medicare card preferably 6 months before my full retirement age or I could pay a penalty FOR THE REST OF MY LIFE! I couldn’t believe this was true initially and then told everyone I knew when I realized it was true. Just this fact made me wary of other possible surprises. A further meeting with another SHINE volunteer did little to clarify things as I wasn’t even sure what to ask since everything seemed to have a “but”. Friends of mine went to several seminars led by Medicare Advantage plans decided to choose that over Medicare. They figured they could switch to regular Medicare later if needed (I will watch your video regarding this). Another friend said her lawyer thought the Advantage plans were a better choice. I dont know if she is still on that plan now as her health took a downturn and her daughters helped with her management (not the first thing you ask someone in recovery). I did ask the couple who did the research as one of them had a heart attack and they were pleasantly surprised with their Advantage coverage and were staying in it. Anyway, thank you for your excellent video! I am still shocked that such an important life decision is not better handled by our government. I did seek an advocate initially but gagged at the cost and wondered about the leanings. I am guessing Medicare administration, like the IRS is constantly facing cuts which only continues to affect the majority negatively. I am also waiting for the “other shoe to drop” once private insurance/Advantage Plans gain more clients and possibly put Medicare out of business. I wrote to my Congresswoman about my concerns and asked why Medicare can’t look at the good parts of Advantage plans (much more inclusive ie eye,ear,dental,etc) and 1 card,1 bill). I haven’t heard back. I really think something would happen if Congress, Reps. and other government officials had to go through the same system as the rest of us vs. their own special healthcare offerings paid with our taxes. I am grateful for now that my health has continued to be ok and that the Advantage plan my state allows (Blue Cross) has been a good experience so far. It is a bit scary looking at the potential huge monthly premium of switching to a regular Medicare plan with a Supplemental plan if I need to and I don’t like the idea that my being on an Advantage plan will likely drive those costs higher or destroy Medicare. Please! One plan for all simplified! It would be great to have a detailed questionnaire to help people decide these things. Thanks again for your explanations. Will be following!
@hotelflamer69462 күн бұрын
We moved from Arizona to Florida for health reasons and are planning to live our retirement years in FL. We welcome your feedbacks. Thank you for the “road” show.
@Theretirementnerds2 күн бұрын
Sounds like a fun move! We'll definitely keep you posted! :)
@davidfolts58932 күн бұрын
Thanks, The Retirement Nerds!
@Theretirementnerds2 күн бұрын
Thank you David!
@davidfolts58932 күн бұрын
@@Theretirementnerds My pleasure, Erik; I hope all goes well for you.
@beerster2 күн бұрын
I have been on a UHC Advantage HMO plan for 7 years. It has paid for all of my big treatments including a detached retina and a knee replacement. They both cost me about $250. I pay 0 premium. I have saved over 26K in premiums. I exercise everyday. I have never smoked and don't have any chronic problems yet. I think I'm kind of stuck with it as I will pay a hefty price for a Suppliment plan at my current age.