Today’s Smart Money Question:
(Click the featured times below to jump forward in the episode)
Here Are Just A Handful Of Things You’ll Learn:
With mandates surrounding the COVID-19 vaccine, some employees are having to make tough decisions. Some people are considering retiring early before the age of 65. Here are some things you need to consider before walking out and leaving your job over the mandate.
First, find out where you stand on your retiree benefits. Also, look into your health insurance benefits. If you don’t understand the rules of what benefits you have access to, you can really get burned.
We had a client who took early retirement and didn’t realize that meant they were without health care for 90 days. That meant they had to go onto Obamacare, and they couldn’t believe how high the monthly premium was. The premiums are based on your income.
If you’re married, find out if you can jump on your spouse’s health care. If you have questions about this, reach out to us and we can help walk you through the options.
Some people are done working for the government but don’t want to retire. They want to work for the private sector. You need to pay attention to your expenses and where your money will come from if you leave your government job.
Don’t make costly decisions during this time. If you’re leaving your job, make sure you have a financial planning professional on your side.
Listen to the full episode or use the timestamps below to jump to a specific section.
4:35 – Health insurance
8:43 – Expenses
“If you don’t understand the rules of what (benefits) you have access to, you can really get burned.“
-Matt Hausman
Additional Podcast Episodes:
- Episode 155 The Fear of Spending Money in Retirement
- Episode 148: How to Handle an Unplanned Retirement
- Episode 145: How Much Money Do I Need to Retire?
Do You Have A Smart Money Question?
Ask Matt your smart money question. Click here.
More From Matt:
The host: Matt Hausman – Contact – Resources – Call: 610-719-3003
