Planning For Retirement

Aaron Kowal discusses the behavioral investing mistakes made by many investors and shares tax strategies to consider in succession planning. Later, Jeff joins to discuss IRAs and how they are different and shares a tax fraud scheme from the headlines. Then Aaron wraps things up by examining how tax-loss harvesting can be used in tax planning.

The Retirement Clinic-5-31-25 – Behavioral Investing Mistakes

Retire Smart with David Brooks - June 7, 2025

aired on WBRP on June 7, 2025 at 10 AM and on WJBO / iHeart Radio on June 8, 2025 at 11 AM

You Can Do Something Now

The market is riding a rollercoaster, and navigating it can feel like a challenge. Pat will break down what’s driving these market swings and what it could mean for your retirement strategy.

A Bumpy Ride

Here's the Million-Dollar Question: How Do You Check Those Items Off Without Burning Through the Retirement Savings?

Episode 221 - A Bucket List of Dreams

On this edition of the Wealth Guardians Radio Show, Doug Ray and Brice Payne review a list of questions you should ask in a volatile market. In addition, they breakdown the rollover process, by explaining what it is, who is eligible, and the pros and cons. 

The Wealth Guardians Radio show is hosted by Doug Ray and broadcasts live each Saturday morning at 9:30 on Greensboro, NC’s 94.5 WPTI FM and each Sunday morning at 9:30 on Winston-Salem's WTOB 98.0 AM. 

June 14, 2025 - Questions You Should Ask in a Volatile Market

The Preferment Life Platform offers retirees a fresh approach to wellness, finances, and purposeful living. Explore personalized tools and educational content designed to make your golden years your best years yet.

Experience Retirement Differently with the Preferment Life Platform

Calmer Market

Early retirement is a dream for many, offering the promise of more time for travel, hobbies, and relaxation. However, retiring before age 65 brings one important challenge: health insurance coverage. Medicare, the federal health insurance program, typically begins at age 65. So, if you retire earlier, you’ll need a plan to bridge the gap between retirement and Medicare eligibility. Understanding your options and planning carefully can help you avoid coverage gaps and unexpected expenses.

The Health Insurance Gap

If you retire at 62, for example, there’s a three-year period before Medicare coverage begins. This time can be financially risky if not planned properly. During these years, you’ll need to secure health insurance that provides sufficient coverage at a manageable cost. Failing to do so may result in high out-of-pocket medical expenses and potentially delaying needed care.

Coverage Options Before Medicare

There are several ways to get health insurance if you retire early:

Spouse’s Employer Plan: If your spouse is still working and has access to health insurance through their job, you might be eligible for coverage under their plan. This is often one of the most affordable and comprehensive options.
Marketplace Plans: You can explore individual health plans through your state’s marketplace. Depending on your income, you may qualify for subsidies to help lower premiums. These plans can vary widely in cost and coverage, so it’s essential to compare your options carefully.
COBRA Coverage: If you’ve had employer-sponsored insurance, you might be eligible to continue it through COBRA. This option allows you to keep your existing plan for up to 18 months (in some cases longer), but you’ll be responsible for the full premium, which can be expensive.
Private Insurance: You may also purchase a private health insurance policy. While this provides flexibility, it may also come at a higher cost, especially as you age or if you have existing health conditions.
Budgeting for Healthcare Costs

Health insurance is often one of the largest expenses in early retirement. It’s crucial to include insurance premiums, deductibles, co-pays, and uncovered services in your retirement budget. Planning for increasing healthcare costs as you age will help maintain your financial security and peace of mind.

Additionally, consider establishing a Health Savings Account (HSA) before retiring if you’re enrolled in a high-deductible health plan. HSAs offer tax advantages and can be used to pay for qualified medical expenses, even after you retire.

Preparing for Medicare

As you approach the medicare age requirement of 65, it’s important to begin planning for Medicare enrollment. The Initial Enrollment Period starts three months before your 65th birthday and lasts for seven months. Missing this window may result in late enrollment penalties and delays in coverage.

Final Thoughts

Retiring before 65 offers many rewards, but it also requires careful planning — particularly when it comes to health insurance. By exploring available options, budgeting for medical costs, and preparing for the transition to Medicare, you can protect your health and your finances during the early retirement years. Taking proactive steps now ensures a smoother journey into this new and exciting phase of life.

Medicare and Early Retirement What You Need to Know

Hi! I am Eloise Mia, an expert in the Insurance Industry and I have been working in this Industry for the last 5 years. I am not the owner of the content which has been published here. This content is only for knowledge purposes. This content belongs to the respective owners and I do not hold any right for this content.

Rarified Life’s "Preferment" concept provides a transformative perspective on retirement. It helps individuals design a sustainable plan that harmonizes with their values and aspirations. By embracing a proactive and optimistic mindset, Rarified Life equips readers with the tools to craft a retirement that defies societal expectations and embraces vitality.

Patrick A. Strubbe, ChFC, CLU, RFC is the founder and managing partner of Preservation Specialists, LLC. He has been helping clients with their financial futures since 1997. Pat has been featured as a retirement expert in USA Today, Investors Business Daily, Fortune.com, and Entrepreneur.com, and on WIS-NBC TV News with Dawndy Mercer Plank.

Pat is also the author of the Amazon.com best-selling books, “Save Your Retirement!” and "The Retirement Secret," Pat’s down-to-earth humor and expertise shine through his Super Retirement Planner’s character. His books help many people understand the serious challenges faced by those nearing or in their retirement years.


To learn more about us, visit us at scpreservation.com

Secure Money Advisors is a licensed fiduciary in Pittsburgh, PA that develops holistic approaches to retirement planning. From annuities to wealth management and basic retirement planning, we offer a broad array of financial products and services clients need to succeed.

Retire Smart, LLC is an independent financial services firm that utilizes a variety of investment and insurance products. Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Retire Smart, LLC are not affiliated companies. 1817818-8/21

The Wealth Guardians Radio Show focuses on all things retirement planning and is hosted by Doug Ray, Brice Payne, and Garrett Ray. The show airs each Saturday morning at 9:30 on Greensboro, NC’s 94.5 WPTI FM and Winston Salem, NC's 96.7 WTOB FM/1470 AM.

Disclaimer: “Investment Advisory Services offered through Alphastar Capital Management, LLC a SEC registered Investment Advisor. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability. Alphastar Capital Management, LLC and Wealth Guardians are independent entities. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. Insurance products and services offered through individually licensed and appointed agent in various jurisdictions.”

Listen as Nathan and Lindsey help YOU our Retirement Income Solutions Family "Retire In Peace"!

Learn more about Retirement Income Solutions at our website: RiSolutions.net

Retirement Income Solutions, LLC is an independent practice built on trust, reliability, and experience through a variety of market conditions. As an independent firm, we represent our clients and their interests rather than any specific company. We believe independence is vital to delivering objective, unbiased recommendations.

Our mission at Retirement Income Solutions is to provide financial peace of mind through sound investment strategies, dependability, and outstanding service to our clients.

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BUSINESS INQUIRIES

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Drew Pelton has an extensive background in the financial services industry which began in 1979. His broad and deep understanding of the subject matter is substantiated by his academic background, keeping up with current affairs, his multifaceted client work, and solving client needs in an evolving economic world.

Listen along LIVE to Retirement Income Source with Drew Pelton every Sunday at 11 AM CST on WJBO / iHeart Radio!! If you would like to schedule a one on one meeting or phone call with Drew please call our 24/7 hotline at (833)974-1833. Thank you for listening along!

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With retirement just around the corner, you need a partner you can trust to help navigate the ins and outs of retirement planning.  Whether you’re looking for a final push heading into your retirement, retirement asset management and consolidation, or assistance in transferring business assets to retirement assets, our team’s focus is on helping you realize your vision.

You can listen to the Kowal Investment Group - now Creative Planning, "Retirement Clinic" podcasts, with retirement and investment planning tips and news right here on Soundcloud. **This is a previously recorded show.**

New tracks tagged #Retirement