Retirement
I am 67 and working full time. Covered by company insurance. I plan on retirement in one more year. What should I be doing in preparation in regards to social security and Medicare. The information out there is overwhelming and I’m not even retired yet.
Terry Says
Two months before you retire, go to www.MedicarePocketProtector.com and they will help you through the Medicare enrollment process. Please, ifyou can afford it, opt for traditional Medicare (A&B) plus a supplement and Part D (drugs). It’s more expensive but far more flexible. They will find the best options for you and help you enroll.
You do not have to enroll in Social Security right away. If you can wait until age 70, you’ll have a significantly larger check. How much larger? Go to MaximizeMySocialSecurity.com to find out.
The idea is to use existing savings for the gap of three years, since your basic SS check will increase by 8% for every year you wait until age 70.
If you’re not taking SS, arrange to pay your Medicare Part B premium and your supplemetn and part D by checking auto-pay.
