Money & Benefits
- How does Medicare work with my current insurance?
Medicare works with your current insurance by coordinating benefits. If you have employer coverage or retiree insurance, Medicare may pay first or second depending on your situation. - What is the best way to budget on a fixed income?
Start by tracking your spending, then build a budget that covers essentials first, sets aside money for irregular expenses, and leaves room for what you enjoy. Adjust as needed. - Can I collect Social Security from my ex-spouse?
Yes, if you were married for at least 10 years, are unmarried, and your ex-spouse is entitled to Social Security. You can claim based on their record even if they haven't claimed yet, as long as you're 62 or older. - How do I reduce my taxes in retirement?
Use tax-advantaged accounts, time your withdrawals strategically, and take advantage of senior deductions and credits. Consider Roth conversions in low-income years and keep investments tax-efficient. - What are the best ways to protect my savings from inflation?
Invest in a diversified portfolio with stocks, consider inflation-protected securities like TIPS or I-bonds, and keep some cash in high-yield savings. Also, delay claiming Social Security if possible, as benefits are inflation-adjusted. - Should I buy long-term care insurance after 50?
It depends on your health, finances, and family history. Buying earlier can lock in lower premiums, but you need to weigh the cost against your ability to self-insure and your preferences for care.