Retirement Answer Man

“How do I understand Social Security and Medicare?”  This is a question I hear most often from people planning for retirement. It's understandable. Social Security and Medicare benefits will play a big part in your retirement. 

In this episode we begin to unwrap both and begin to build a framework for you make decisions about your Social Security and Medicare benefits. I say we “begin” intentionally. These are BIG subjects. In future episodes, we’ll continue to improve your understanding of your Social Security and Medicare.


  • If you enjoy the podcast, I would consider it a great favor if you subscribed in iTunes and leave a review. This helps others discover the show. 
  • Last week I announced my Retirement 2.0 project. This is an initiative to redesign the retirement planning process to serve you better.  To help, go here and share your thoughts on retirement.

Retirement Tip of the Week

I suggest you visit and explore our government's Social Security website. It is an easy to navigate, useful resource to help you manage your Social Security benefits. YES, I just said “useful” and “government” in the same sentence. They did a great job designing the site.

 You can easily:


  • Apply for benefits,
  • Check the status of an application
  • Set up direct deposit
  • Estimate your Social Security
  • Estimate your spouse’s benefit
  • Sign up for your Social Security benefit
  • Set up direct deposit
  • Access their Retirement Toolkit (a great PDF document that outlines key dates for Social Security and Medicare)


Unwrapping Medicare: The Basics

This week I talk with Misty Kimbrough, a local insurance expert about the basics of Medicare. She outlines the basic parts of Medicare and the 3 most common missteps people make when planning medicare benefits for retirement.

Part A “major medical” coverage covering health care costs at hospitals 

Part B Covers the costs of health care outside of a hospital. Doctor visits, outpatient procedures, x-lab test and related services

Medicare Supplements (Medigap)

Part C Medicare Advantage Plan

Part D Prescription Drug Plan

3 Common Medicare Missteps 

Resources Discussed

Direct download: PWIW_7.7.14.mp3
Category:Finance -- posted at: 7:06pm CDT