Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
Good Saturday morning to all. Onthis mid September Saturday, Dick Shelleycare and
this is Safe Money. We arehere every Saturday to talk with you about
strategies we use with our clients tomanage and protect assets and to manage and
protect those assets safely. And today'svery unsafe world. A reminder to all,
(00:27):
we are continuing our virtual community meetingshere for the month of October.
Now. We have multiple meetings inOctober because October's just prior to the annual
enrollment period the Medicare annual enrollment periods, we're having multiple meetings in October now.
The dates are multiple. The datesfor October are sixteen, eighteen,
(00:53):
nineteen, twenty four, twenty six, and thirtieth at one o'clock in the
morning. These means are virtual only, so you remain in your own home
using your own computer equipment. Socall us at five six three three three
two twenty two hundred for instructions onhow to participate in these meetings. If
(01:19):
you are aging into Medicare, turningeight sixty five in the near future and
becoming eligible for Medicare, I knowyou are being just inundated with solicitations for
various plans, and my gush,with ten Medicare supplements, we get to
choose one of these ten plans.With eighteen prescription drug plans, and we
(01:42):
get to choose one of those eighteenplans, and with eight advantage plans,
and we get to pick one.So I know it gets very confusing waiting
until age seventy for Medicare or I'msorry, waiting until age seventy four.
(02:07):
Social Security benefits will result in thehighest possible benefit, but it's not always
the best choice for social Security toclaim social Security at age seventy. Now
there's ten reasons to claim social Securitybefore age seventy, and you can go
(02:30):
to the SOLI security website anytime.Go to www. SOLI security dot gov,
and boy, there's a wealth ofinformation on that website and they'll talk
with you about reasons to claim socialSecurity at various ages. But I and
(02:52):
the issues the financial newsletters I receiveevery day. I've picked up an article
by Roger Woolner who talks about whyyou should receive social Security before age seventy.
Number one reason is for health issues. One reason you might consider claiming
(03:15):
social Security before before age seventy ispoor health. This may be facing a
reduced life expectancy, and claiming atan earlier age can help them maximize their
lifetime benefits. Claiming earlier than seventycan also help them with expenses related to
their health condition. Number two.Why would you claim Social Security before age
(03:43):
seventy claiming? Number two reason isclaiming survivor benefits. Widows or widowers can
take their survivor benefit as early asage sixty or earlier if they are carrying
for a minor or disab a childof their late spouse. If the surviving
spouse has reached their full retirement age, they can claim one hundred percent of
(04:09):
their deceased spouse's benefit, though thatbenefit amount might be reduced if the deceased
spouse has claimed their benefits prior toreaching their full retirement age. Another option
is for the surviving spouse to claimtheir survivor benefit as early as age sixty,
(04:29):
then convert their own benefit if it'shigher, as earlier as age sixty
two or as late as age seventy. This can provide an initial stream of
income that can be converted to ahigher level later on. Number three reasons
for maximizing your Social Security prior toage seventy is because you could maximize the
(04:53):
married couple's benefits. One common claimingstrategy for married couple who's to have the
higher earning spouse wait until age seventyor as long as possible to claim their
benefit. This ensures that their spousewould receive the highest possible survivor benefit should
(05:15):
the higher earning spouse die first.It can often make sense for the spouse
with the lower benefit to claim priorto age seventy in order to provide an
income stream earlier in retirement. Eventhough their benefit would be reduced, the
couple has ensured that the spouse withthe lower benefit would receive the maximum survivor
(05:39):
benefit if needed. Number four reasonis deferring taxes on retirement savings. In
some cases, your client might benefitfrom claiming there are Social Security benefits prior
to age seventy in order to delayin order to delay tapping their retirement accounts.
(06:04):
There may be a number of reasonsfor this, including deferring taxes on
money in retirement accounts or allowing theirinvestments to continue to grow tax deferred.
Boy, that's a big one.If the client is still working, it
is possible, it is probably bestthat they wait to claim their benefits until
they reach their full retirement age toavoid the benefit reductions at a company earned
(06:30):
income prior to their full retirement age. The fifth reason for claiming social security
prior to age seventy is preserving inheritancefor beneficiaries. Allowing investments to grow might
be a consideration for clients concerned aboutleaving a larger inheritance. Claiming social Security
(06:55):
can allow them to let these investmentscontinue to grow. And boy, but
that's a big one, and there'spros and cons of that. We need
to talk about that at a latertime. This might be a consideration for
clients with a variety of a stateplanning situations, perhaps a client with children
or other family members as their beneficiaries. The sixth reason proclaiming social security prior
(07:25):
to age seventy is for cash flowneeds. Those entering retirement can have varying
cash flow needs. Taking social Securitybenefits early can help solve these. For
example, clients may be eligible fora pension, or it is advantageous to
(07:46):
wait for a few years to commencetaking payments. Taking social Security benefits early
can provide cash flow that offers yourclients planning flexibility during their early retirement years.
Seventh reason for taking Social Security priorto age seventy is the seventh reason
(08:13):
is taking spouse benefits. For thosewho do not qualify for benefit on their
own or whose own benefit is quitelow, a spousal benefit is a good
option. If available to qualify forbenefit based upon spouse's earnings record that smouse,
that spouse must already be taking theirown benefits. In a situation where
(08:37):
the spouse with a higher benefit levelis the younger spouse, it can make
sense for them to claim their benefitbefore age seventy to allow the older spouse
to claim a spousal benefit. Athreathing is for investing for a greater return.
(09:03):
If we have a person who doesn'tneed their benefit to cover their living
expenses and would like to invest themoney from a Social Security benefit, they
might consider commencing their brandfit early andinvesting the money each month in order to
accumulate additional assets for retirement or toleave to their beneficiaries upon their death.
(09:28):
Their lower monthly benefit level can potentiallybe offset by the ability to invest these
amounts each month over a longer period. Each client situation is different, and
this is an option for This maybe an option for one person and not
an option for another. It's importantto show the pros and cons of each
(09:52):
of these approaches. Ninth, thereason for claiming social Security prior to age
seventy would be because of private healthinsurance payments. For clients who retire before
they are eligible for Medicare, socialSecurity benefits can help cover the cost of
health insurance in the gap period.Private health insurance can be costly, and
(10:18):
there may also be out of pocketmedical costs to cover during this period.
Boy, and my practice and mybusiness I incur that frequently where clients who
are who have to pay the costof insurance prior to Medicare kicking in Medicare,
(10:39):
remember for the most part, kicksin at age sixty five. Consequently,
if you have to pay for thathealth insurance premium, Boy, at
those ages between sixty five and agesixty five, between age fifty five and
age sixty five, those premiums becomevery, very costly. So claiming Social
(11:03):
Security early can help clients offset thesepotentially high costs early in retirement and help
preserve other retirement assets. The tenthreason to consider to consider taking social security
prior to age seventy is as ifyou are retiring in a down market.
(11:28):
For clients to find themselves retiring intoa down market environment, claiming social security
prior to age seventy can allow themto use these benefits for some of all
their retirement spending needs and lieu ofdrawing money from retirement investment accounts whose value
may have been depressed due to thedecline in the market's boy very very appropriate
(11:52):
for today to consider that the reducedretirement account withdrawals during this bird allows investments
and these accounts of time to recoveras markets recover. This can help rebuild
the value of the client's retirement nesting, allowing their money to last longer.
(12:16):
So those are reasons to consider drawingsocial security before age seventy. You know,
at age seventy, the amount ofthe social security benefit that we would
receive would be the greatest amount.Now, there's often financial advisors who advise
(12:41):
clients to draw on those social securitybenefits at age seventy to postpone taking the
money because the growth of that valueof social security would be substantial to age
seventy. So financial advisers recommend oftentimesthat people wait until age seventy, postponing
(13:05):
that benefit till age seventy two maximizethe payout of Social Security. Well,
that may be true, but thereare ten reasons I just gave you in
order to consider taking that money takingSocial Security prior to age seventy. Those
(13:26):
reasons are once again I'd like toreview those. Those are health issues number
one, number two, survivor benefitsnumber three, to maximize married couples benefits
(13:46):
number four, deferring taxes, ownretirement savings, number five, preserving inheritance
four beneficiaries, number six, ashflow needs number seven, spousal benefits number
(14:07):
eight, investing for a greater returnnumber nine, private health insurance payments,
and number ten if you are retiringin a down market. Reasons to consider
taking Social Security prior to age seventy. Many financial advisors in this day and
(14:31):
age oftentimes recommending postponing drawing on thatSOLI security retirement benefit until age seventy because
their thought processes at age seventy wehave the greatest social Security income based upon
postponing drawing that SOLI security income toage seventy. Well, there are ten
(14:54):
reasons for considering drawing on that solisecurity prior to age seventy very popular belief
to postpone that for as long aspossible, it's very possible to consider drawing
on social security prior to age seventy. So give some thought to that.
(15:20):
When to claim social security is nota one size fits all proposition. There
may be a variety of reasons forpeople to claim their benefits before age seventy,
and gave ten scenarios for drawing benefitsprior to age seventy For clients with
(15:43):
a reduced life expectancy due to anillness or family history, that makes sense
to prepare they break even analysis illustratingthe age at which their lifetime benefits from
waiting to age seventy would exceed theirbenefits from claiming at an earlier age.
(16:03):
And boy, that's the process.We can help you with listeners, if
you would like to see that analysis, we can certainly help you with that.
We can run a illustration showing thatif you draw your soul Security menefits
prior to age seventy, prior toage seventy, how long it would take
to recover the benefit that you wouldhave received at age seventy By postponing drawing
(16:32):
on Social Security two age seventy becauseat age seventy would be the maximum benefit
you can derive from Social Security.So if you want to see that benefit
compared to drawing at an earlier age, and how long it would take that
income from Social Security at an earlierage to recover what we would have had
(16:53):
at age seventy at the maximum benefits, So that's some thing to consider.
Maximizing social Security benefits is a positive, is a positive for many clients,
but taking their benefit prior to ageseventy can be a good planning option in
(17:14):
many cases. Now, each person'ssituation is different and we can help.
Our expertise can help guide them tothe best social Security claiming decision for your
situation. So take a look atthese ten situations in which they might make
(17:36):
sense for you or if it's appropriatefor your situation. So please consider that
and if we can help with that, give us a call. Call us
at five six three three three twotwenty two hundred or email me. Go
to my website go to dickshulleig dotcom, scroll over to the content information
(18:00):
and send me an email if you'dlike to correspond in that matter. Remember,
as we approach this month of October, we are continuing our virtual community
meetings here for the month of October. Now, in October, we're going
to do something different. We're goingto have multiple meetings and the dates for
(18:21):
those meetings are October sixteenth, eighteenth, nineteen, twenty four, twenty six,
and thirty at ten o'clock in themorning. Now, these meetings are
virtual only, you know, asI shared with you oftentimes in the past,
we used to do those meetings inperson, so we would meet someplace
at a meeting room in person andthen we would talk about the strategies that
(18:48):
are available. But since COVID,we have been doing these meetings virtually and
we're finding actually that these virtual meetingsand much more convenient, much more convenient
for you for your listeners to participatein. So we encourage you to share
in those meetings and do those meetingsvirtually, and there's a lot to be
(19:15):
gained for those So in the monthof October, we're having multiple virtual meetings.
And the reason for that is becausethe annual enrollment period begins then in
the middle of October and it continuesuntil December seventh. That's the annual enrollment
period. Now, remember that enrollmentperiod is not to be confused with your
(19:37):
initial enrollment period. Your initial enrollmentperiod in Medicare is a seventh month window
that begins seven that begins three monthsprior to your age sixty five the month
of your age sixty five, andin three months following your age sixty five,
(19:59):
that you're enrollment period. Now,what we're talking about in October is
our annual enrollment period. The annualenrollment period allows Medicare beneficiaries who are currently
receiving Medicare allows them to change theirplan if they choose to do so for
(20:22):
the next calendar year for twenty twentyfour. So that's an important decision.
I think these virtual community meetings willhelp you understand and my gosh, with
all the stuff that you get,with all the solicitations you receive, I
think to make sense of all thosesolicitations, I think these meetings would be
(20:45):
very, very helpful. So I'llbe sure to tune in for one or
more than one of these meetings startingon October sixteenth. Member, And remember
the multiple dates for these meetings inOctober are the sixteenth, the eighteenth,
the nineteenth, the twenty fourth,at twenty sixth and the thirtieth ten o'clock
(21:07):
in the morning. Now again,these meetings are virtual only, so you
remain in the privacy of your ownhome using your own computer equipment. We
encourage you to give us a call. Call us a couple of days ahead
of the meeting so that we cangive you instructions on how to participate in
these meetings using your own computer equipment. I think you'll find that very very
(21:30):
beneficial. There's a lot of choices, a lot of choices for Medicare.
I guess with ten Medicare supplements,eighteen prescription drug plans, eight advantage plans,
and I know it gets very veryconfusing. So once again, these
meetings are held at various times duringthe month of October. I encourage you
(21:56):
to participate in these meetings. Ifyou'd like to have an in person meeting,
please call us. Give me acall at five sixty three three three
two twenty two hundred, or goto my website. My website is just
my name Dickshilling dot com and thenscroll over to the contact icon and pick
up my email address and send mea note by email if you'd like to
(22:18):
correspond in that manner. A lotof decisions to be made as we approach
medicare as, we approach social securityeligibility, and so we can help you
with making some of those decisions.So again, give me a call at
five six three three three two twentytwo hundred or email me. Go to
(22:41):
my email dischilling dot com, scrollover to the contact icon and pick up
my email address and send me anote an email. Okay, good talking
with you this morning, Have agreat, great weekend. Good day,
Good Saturday morning to all. Onthis mid September Saturday, Dick Shelleycare and
this is Safe Money. We arehere every Saturday to talk with you about
strategies we use with our clients tomanage and protect assets and to manage and
protect those assets safely. And today'svery unsafe world. A reminder to all,
(00:27):
we are continuing our virtual community meetingshere for the month of October.
Now. We have multiple meetings inOctober because October's just prior to the annual
enrollment period the Medicare annual enrollment periods, we're having multiple meetings in October now.
The dates are multiple. The datesfor October are sixteen, eighteen,
(00:53):
nineteen, twenty four, twenty six, and thirtieth at one o'clock in the
morning. These means are virtual only, so you remain in your own home
using your own computer equipment. Socall us at five six three three three
two twenty two hundred for instructions onhow to participate in these meetings. If
(01:19):
you are aging into Medicare, turningeight sixty five in the near future and
becoming eligible for Medicare, I knowyou are being just inundated with solicitations for
various plans, and my gush,with ten Medicare supplements, we get to
choose one of these ten plans.With eighteen prescription drug plans, and we
(01:42):
get to choose one of those eighteenplans, and with eight advantage plans,
and we get to pick one.So I know it gets very confusing waiting
until age seventy for Medicare or I'msorry, waiting until age seventy four.
(02:07):
Social Security benefits will result in thehighest possible benefit, but it's not always
the best choice for social Security toclaim social Security at age seventy. Now
there's ten reasons to claim social Securitybefore age seventy, and you can go
(02:30):
to the SOLI security website anytime.Go to www. SOLI security dot gov,
and boy, there's a wealth ofinformation on that website and they'll talk
with you about reasons to claim socialSecurity at various ages. But I and
(02:52):
the issues the financial newsletters I receiveevery day. I've picked up an article
by Roger Woolner who talks about whyyou should receive social Security before age seventy.
Number one reason is for health issues. One reason you might consider claiming
(03:15):
social Security before before age seventy ispoor health. This may be facing a
reduced life expectancy, and claiming atan earlier age can help them maximize their
lifetime benefits. Claiming earlier than seventycan also help them with expenses related to
their health condition. Number two.Why would you claim Social Security before age
(03:43):
seventy claiming? Number two reason isclaiming survivor benefits. Widows or widowers can
take their survivor benefit as early asage sixty or earlier if they are carrying
for a minor or disab a childof their late spouse. If the surviving
spouse has reached their full retirement age, they can claim one hundred percent of
(04:09):
their deceased spouse's benefit, though thatbenefit amount might be reduced if the deceased
spouse has claimed their benefits prior toreaching their full retirement age. Another option
is for the surviving spouse to claimtheir survivor benefit as early as age sixty,
(04:29):
then convert their own benefit if it'shigher, as earlier as age sixty
two or as late as age seventy. This can provide an initial stream of
income that can be converted to ahigher level later on. Number three reasons
for maximizing your Social Security prior toage seventy is because you could maximize the
(04:53):
married couple's benefits. One common claimingstrategy for married couple who's to have the
higher earning spouse wait until age seventyor as long as possible to claim their
benefit. This ensures that their spousewould receive the highest possible survivor benefit should
(05:15):
the higher earning spouse die first.It can often make sense for the spouse
with the lower benefit to claim priorto age seventy in order to provide an
income stream earlier in retirement. Eventhough their benefit would be reduced, the
couple has ensured that the spouse withthe lower benefit would receive the maximum survivor
(05:39):
benefit if needed. Number four reasonis deferring taxes on retirement savings. In
some cases, your client might benefitfrom claiming there are Social Security benefits prior
to age seventy in order to delayin order to delay tapping their retirement accounts.
(06:04):
There may be a number of reasonsfor this, including deferring taxes on
money in retirement accounts or allowing theirinvestments to continue to grow tax deferred.
Boy, that's a big one.If the client is still working, it
is possible, it is probably bestthat they wait to claim their benefits until
they reach their full retirement age toavoid the benefit reductions at a company earned
(06:30):
income prior to their full retirement age. The fifth reason for claiming social security
prior to age seventy is preserving inheritancefor beneficiaries. Allowing investments to grow might
be a consideration for clients concerned aboutleaving a larger inheritance. Claiming social Security
(06:55):
can allow them to let these investmentscontinue to grow. And boy, but
that's a big one, and there'spros and cons of that. We need
to talk about that at a latertime. This might be a consideration for
clients with a variety of a stateplanning situations, perhaps a client with children
or other family members as their beneficiaries. The sixth reason proclaiming social security prior
(07:25):
to age seventy is for cash flowneeds. Those entering retirement can have varying
cash flow needs. Taking social Securitybenefits early can help solve these. For
example, clients may be eligible fora pension, or it is advantageous to
(07:46):
wait for a few years to commencetaking payments. Taking social Security benefits early
can provide cash flow that offers yourclients planning flexibility during their early retirement years.
Seventh reason for taking Social Security priorto age seventy is the seventh reason
(08:13):
is taking spouse benefits. For thosewho do not qualify for benefit on their
own or whose own benefit is quitelow, a spousal benefit is a good
option. If available to qualify forbenefit based upon spouse's earnings record that smouse,
that spouse must already be taking theirown benefits. In a situation where
(08:37):
the spouse with a higher benefit levelis the younger spouse, it can make
sense for them to claim their benefitbefore age seventy to allow the older spouse
to claim a spousal benefit. Athreathing is for investing for a greater return.
(09:03):
If we have a person who doesn'tneed their benefit to cover their living
expenses and would like to invest themoney from a Social Security benefit, they
might consider commencing their brandfit early andinvesting the money each month in order to
accumulate additional assets for retirement or toleave to their beneficiaries upon their death.
(09:28):
Their lower monthly benefit level can potentiallybe offset by the ability to invest these
amounts each month over a longer period. Each client situation is different, and
this is an option for This maybe an option for one person and not
an option for another. It's importantto show the pros and cons of each
(09:52):
of these approaches. Ninth, thereason for claiming social Security prior to age
seventy would be because of private healthinsurance payments. For clients who retire before
they are eligible for Medicare, socialSecurity benefits can help cover the cost of
health insurance in the gap period.Private health insurance can be costly, and
(10:18):
there may also be out of pocketmedical costs to cover during this period.
Boy, and my practice and mybusiness I incur that frequently where clients who
are who have to pay the costof insurance prior to Medicare kicking in Medicare,
(10:39):
remember for the most part, kicksin at age sixty five. Consequently,
if you have to pay for thathealth insurance premium, Boy, at
those ages between sixty five and agesixty five, between age fifty five and
age sixty five, those premiums becomevery, very costly. So claiming Social
(11:03):
Security early can help clients offset thesepotentially high costs early in retirement and help
preserve other retirement assets. The tenthreason to consider to consider taking social security
prior to age seventy is as ifyou are retiring in a down market.
(11:28):
For clients to find themselves retiring intoa down market environment, claiming social security
prior to age seventy can allow themto use these benefits for some of all
their retirement spending needs and lieu ofdrawing money from retirement investment accounts whose value
may have been depressed due to thedecline in the market's boy very very appropriate
(11:52):
for today to consider that the reducedretirement account withdrawals during this bird allows investments
and these accounts of time to recoveras markets recover. This can help rebuild
the value of the client's retirement nesting, allowing their money to last longer.
(12:16):
So those are reasons to consider drawingsocial security before age seventy. You know,
at age seventy, the amount ofthe social security benefit that we would
receive would be the greatest amount.Now, there's often financial advisors who advise
(12:41):
clients to draw on those social securitybenefits at age seventy to postpone taking the
money because the growth of that valueof social security would be substantial to age
seventy. So financial advisers recommend oftentimesthat people wait until age seventy, postponing
(13:05):
that benefit till age seventy two maximizethe payout of Social Security. Well,
that may be true, but thereare ten reasons I just gave you in
order to consider taking that money takingSocial Security prior to age seventy. Those
(13:26):
reasons are once again I'd like toreview those. Those are health issues number
one, number two, survivor benefitsnumber three, to maximize married couples benefits
(13:46):
number four, deferring taxes, ownretirement savings, number five, preserving inheritance
four beneficiaries, number six, ashflow needs number seven, spousal benefits number
(14:07):
eight, investing for a greater returnnumber nine, private health insurance payments,
and number ten if you are retiringin a down market. Reasons to consider
taking Social Security prior to age seventy. Many financial advisors in this day and
(14:31):
age oftentimes recommending postponing drawing on thatSOLI security retirement benefit until age seventy because
their thought processes at age seventy wehave the greatest social Security income based upon
postponing drawing that SOLI security income toage seventy. Well, there are ten
(14:54):
reasons for considering drawing on that solisecurity prior to age seventy very popular belief
to postpone that for as long aspossible, it's very possible to consider drawing
on social security prior to age seventy. So give some thought to that.
(15:20):
When to claim social security is nota one size fits all proposition. There
may be a variety of reasons forpeople to claim their benefits before age seventy,
and gave ten scenarios for drawing benefitsprior to age seventy For clients with
(15:43):
a reduced life expectancy due to anillness or family history, that makes sense
to prepare they break even analysis illustratingthe age at which their lifetime benefits from
waiting to age seventy would exceed theirbenefits from claiming at an earlier age.
(16:03):
And boy, that's the process.We can help you with listeners, if
you would like to see that analysis, we can certainly help you with that.
We can run a illustration showing thatif you draw your soul Security menefits
prior to age seventy, prior toage seventy, how long it would take
to recover the benefit that you wouldhave received at age seventy By postponing drawing
(16:32):
on Social Security two age seventy becauseat age seventy would be the maximum benefit
you can derive from Social Security.So if you want to see that benefit
compared to drawing at an earlier age, and how long it would take that
income from Social Security at an earlierage to recover what we would have had
(16:53):
at age seventy at the maximum benefits, So that's some thing to consider.
Maximizing social Security benefits is a positive, is a positive for many clients,
but taking their benefit prior to ageseventy can be a good planning option in
(17:14):
many cases. Now, each person'ssituation is different and we can help.
Our expertise can help guide them tothe best social Security claiming decision for your
situation. So take a look atthese ten situations in which they might make
(17:36):
sense for you or if it's appropriatefor your situation. So please consider that
and if we can help with that, give us a call. Call us
at five six three three three twotwenty two hundred or email me. Go
to my website go to dickshulleig dotcom, scroll over to the content information
(18:00):
and send me an email if you'dlike to correspond in that matter. Remember,
as we approach this month of October, we are continuing our virtual community
meetings here for the month of October. Now, in October, we're going
to do something different. We're goingto have multiple meetings and the dates for
(18:21):
those meetings are October sixteenth, eighteenth, nineteen, twenty four, twenty six,
and thirty at ten o'clock in themorning. Now, these meetings are
virtual only, you know, asI shared with you oftentimes in the past,
we used to do those meetings inperson, so we would meet someplace
at a meeting room in person andthen we would talk about the strategies that
(18:48):
are available. But since COVID,we have been doing these meetings virtually and
we're finding actually that these virtual meetingsand much more convenient, much more convenient
for you for your listeners to participatein. So we encourage you to share
in those meetings and do those meetingsvirtually, and there's a lot to be
(19:15):
gained for those So in the monthof October, we're having multiple virtual meetings.
And the reason for that is becausethe annual enrollment period begins then in
the middle of October and it continuesuntil December seventh. That's the annual enrollment
period. Now, remember that enrollmentperiod is not to be confused with your
(19:37):
initial enrollment period. Your initial enrollmentperiod in Medicare is a seventh month window
that begins seven that begins three monthsprior to your age sixty five the month
of your age sixty five, andin three months following your age sixty five,
(19:59):
that you're enrollment period. Now,what we're talking about in October is
our annual enrollment period. The annualenrollment period allows Medicare beneficiaries who are currently
receiving Medicare allows them to change theirplan if they choose to do so for
(20:22):
the next calendar year for twenty twentyfour. So that's an important decision.
I think these virtual community meetings willhelp you understand and my gosh, with
all the stuff that you get,with all the solicitations you receive, I
think to make sense of all thosesolicitations, I think these meetings would be
(20:45):
very, very helpful. So I'llbe sure to tune in for one or
more than one of these meetings startingon October sixteenth. Member, And remember
the multiple dates for these meetings inOctober are the sixteenth, the eighteenth,
the nineteenth, the twenty fourth,at twenty sixth and the thirtieth ten o'clock
(21:07):
in the morning. Now again,these meetings are virtual only, so you
remain in the privacy of your ownhome using your own computer equipment. We
encourage you to give us a call. Call us a couple of days ahead
of the meeting so that we cangive you instructions on how to participate in
these meetings using your own computer equipment. I think you'll find that very very
(21:30):
beneficial. There's a lot of choices, a lot of choices for Medicare.
I guess with ten Medicare supplements,eighteen prescription drug plans, eight advantage plans,
and I know it gets very veryconfusing. So once again, these
meetings are held at various times duringthe month of October. I encourage you
(21:56):
to participate in these meetings. Ifyou'd like to have an in person meeting,
please call us. Give me acall at five sixty three three three
two twenty two hundred, or goto my website. My website is just
my name Dickshilling dot com and thenscroll over to the contact icon and pick
up my email address and send mea note by email if you'd like to
(22:18):
correspond in that manner. A lotof decisions to be made as we approach
medicare as, we approach social securityeligibility, and so we can help you
with making some of those decisions.So again, give me a call at
five six three three three two twentytwo hundred or email me. Go to
(22:41):
my email dischilling dot com, scrollover to the contact icon and pick up
my email address and send me anote an email. Okay, good talking
with you this morning, Have agreat, great weekend. Good day,
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