Josh Scandlen Podcast

Delaware comes in my top 5 states in terms of taxes for retirees. How does it fare for Medicare? Well listen in and find out with our residential expert Jae Oh, CFP from maximizeyourmedicare.com --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

What you need to know about Medicare in Connecticut. Not cheap, but does have some benefits too. So, stay tuned to understand how those in the Nutmeg state can deal with Medicare. As always go to Jae's website at www.maximizeyourmedicare.com to sign up for his newsletter. Feel free to visit my site too at www.heritagewealthplanning.com --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

To read the article, click here. https://www.financialsamurai.com/when-earning-one-million-a-year-is-not-enough/ --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

Whole life insurance is something that a lot of people do not quite understand. So, in this video we're going to dissect an inforce illustration to show you exactly how whole life works and what you need to consider. I also break out my trusted Google Sheets to crunch some numbers too. You're going to learn a lot about whole life insurance in this tutorial. So, come along for the ride! See my entire lists of posts and videos at www.heritagewealthplanning.com --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

--- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

You're thinking of retiring at 60. You wonder what the consequences will be on your Social Security benefits. By special request from a subscriber I show you EXACTLY what will happen. I even show you some of my very own Social Security numbers. Don't tell anyone though! The net result is that if you have a pension, say you are a firefighter, or a governmental employee, and can hang it up at 60. Should you continue to work for the next 6 years or so until your Full Retirement Age? Well, in my example I show you how by doing so you could net an extra $500 a month at Full Retirement Age. --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

The 5 biggest IRA mistakes you can make. Ready? Well here they are: 1. No beneficiary designation 2. Old beneficiary designation 3. Wrong beneficiary in your beneficiary designation 4. No Durable Power of Attorney 5. Waiting too long to take distributions a. Too long in the calendar year b. Not withdrawing when your income is low We'll go over ALL of these topics and why they are so bad in this video. You can read more about beneficiary designations at my blog here... http://heritagewealthplanning.com/?s=beneficiary And you can read about powers of attorney here.... http://heritagewealthplanning.com/?s=power+of+attorney --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

Bringing back Jae Oh, CFP, from maximizeyourmedicare.com to discuss Medicare planning in the great state of Colorado. In this episode Jae also informs us about what happens when one relocates from state to state. Say you're thinking of moving to CO from California. Probably some things you need to know about the rules regarding your Medicare. Lots to understand and know about your choices here. --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

California is the most populous state in the union. 1 out of 10 retirees resides there. So, think there aren't quite a bit of options for Medicare beneficiaries in terms of Supplemental policies and/or Medicare Advantage??? In this episode, our stand-alone expert, Jae Oh, CFP, discusses Medicare planning in the great state of California. Jae can be reached at www.maximizeyourmedicare.com. --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

This might be one of the most exciting videos I've done to date. The reason for that is that I obliterate the doomsayers who say you need millions in order to retire. I show you, point by point what that is just crazy talk and what the reality is. In fact, in this episode I take Joe, a guy who has averaged $50k a year over his earnings career, indexed for inflation as the Social Security Administration does. His wife, Jane, actually only worked around 20 years, having sacrificed her prime earnings years to stay home and raise the kids. But after the kids were in high school she went back to work making $40k a year. Remember though she only has around 20 years or so of earnings that Social Security calculates for her benefits. Yet, even then, I show you how they can retire at 66 with just $139,600 without even considering investment returns. --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

Jae Oh, CFP is back to discuss Medicare planning in Arkansas. Arkansas is not as competitive as some of the larger states, like Arizona, but there are still a number of plans, Part C and Supplemental policies for you to choose from. As always, go to Jae’s website at www.maximizeyourmedicare.com for Jae’s book and sign up for his weekly newsletter too. --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

Medicare Part C and Medicare Supplement policies are very competitive in the great state of Arizona. Of course, with more choices there are also more considerations consumers need to think about. This episode is a good place to start. As always, go to Jae's website at www.maximizeyourmedicare.com for Jae's book and sign up for his weekly newsletter too. --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

EBRI Health Costs In Retirement Study Out of nowhere, comes a study from the Employee Benefits Research Institute that shows the ACTUAL out of pocket expenses retirees have from a conducting interviews of over 8,000 participants every two years since 1993. What they find is the majority of these people had little to no out of pocket expenses. In fact, other than a tiny percentage of retirees most have very little expenses. Why this study hasn’t received more attention is beyond me, well I am a natural cynic, so I think I know. The investment firms, and the insurance industry, doesn’t want you to breathe easy when it comes to your retirement money. Fear is a great motivator to get you to buy the stuff they sell. Before you part with your hard-earned money though please look a bit at your situation. Are you a woman with longevity in your bloodline? That is the person most at risk for major out of pocket expenses. You may want to consider some options to protect against those risks. --- Support this podca

EBRI Health Costs In Retirement Study Out of nowhere, comes a study from the Employee Benefits Research Institute that shows the ACTUAL out of pocket expenses retirees have from a conducting interviews of over 8,000 participants every two years since 1993. What they find is the majority of these people had little to no out of pocket expenses. In fact, other than a tiny percentage of retirees most have very little expenses. Why this study hasn’t received more attention is beyond me, well I am a natural cynic, so I think I know. The investment firms, and the insurance industry, doesn’t want you to breathe easy when it comes to your retirement money. Fear is a great motivator to get you to buy the stuff they sell. Before you part with your hard-earned money though please look a bit at your situation. Are you a woman with longevity in your bloodline? That is the person most at risk for major out of pocket expenses. You may want to consider some options to protect against those risks. --- Support this podc

Join Jae Oh and me as we discuss Alabama in our state-by-state analysis of the various Medicare options in each state. Over the course of these episodes, we'll discuss Traditional Medicare, Traditional Medicare with Part D and Medigap, i.e., Medicare Supplements, and Medicare Part C, i.e., Medicare Advantage. Jae Oh, CFP, is an expert contributor on www.mymedicareanswers.com, a website powered by Humana, one of the nation’s largest carriers of Medicare plans. Mr. Oh is the author of a top-rated, top-selling book on Medicare, titled Maximize Your Medicare (2018 Edition): Understanding Medicare, Protecting Your Health, and Minimizing Costs, available in print and ebook formats. I highly encourage you go sign up for his newsletter at www.maximizeyourmedicare.com --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

In this episode we interview Brad Breeding the Co-Founder and CEO of MyLifeSite.net. MyLifeSite.net is the premier website for ALL information about CCRCs. Just a ton of free information for consumers, advisors, even communities, alike. Like the guide to the viability of CCRC's, which I highly encourage everyone to get. It's free folks! Brad and I discuss the history of CCRC's. The issues they face if they are a not-for profit. And, most importantly, the viability of CCRCs with an aging population. How do you price the fees accordingly to make sure you are well-capitalized to take on the risks inherent with long term care? The first thing Brad recommends to anyone considering a CCRC is to see if they have an agreement with an actuarial company that provides analysis. If the CCRC does not, how exactly are they pricing future costs? That is a critical, maybe the most critical, factor to consider when it comes to choosing a CCRC. Will they be there when you need them most? --- Support this podcast

This is a podcast you NEED to listen to... Why? Because everyone, and I literally mean EVERYONE, will come into contact with Medicare at some point. And the more you know about Medicare, the better off you'll be. Did you know that by only having Medicare Part A and B, you still have unlimited financial liability? There is no maximum out of pocket for you. So, you need to get either a Medicare Advantage or a Medigap policy to go along with your Parts A and B. What are these and what do they cover you ask? Great question. I have the same questions which is why I brought on Jae. Jae is the author of the book, "Maximize Your Medicare" and can be found at his website www.maximizeyourmedicare.com. Highly recommend you sign up for his free newsletter there too. Did you know that Medicare Advantage plans MUST include prescription drug coverage? I didn't. Switch from Medigap to Medicare Advantage? No problem. The other way though? Maybe not. Listen and learn my friends. Valuable. --- Support this podca

In this episode I bring on Mike Kelly from Money And Life TV Youtube channel. And also www.moneyandlifetv.com. Mike is a tenured CPA who has a lot to say about the new tax law, the Tax Cut and Jobs Act (TCJA). Unfortunately, because the tax code is so complex and this is the first major change to the tax code since 1986, there is a lot of confusion about it. However, my friends, do not let confusion deter you from understanding as there is a lot of money at stake. It is up to you to know how YOU could be affected. You can start by watching Mike's episode on this here... https://youtu.be/eAkx_6kaOE8 Now, be advised, relying solely on your tax advisor or financial advisor may not be enough. Mike talks about the number of tax advisors retiring now due to the complexity of the new code. Change always causes commotion. But, again, this is YOUR money we're talking about so it's imperative YOU have some knowledge of how you can keep more of it! This episode will help you. --- Support this podcast: https

You've heard of The Villages in central Florida, no? Of course you have. But what exactly is The Villages? In this episode we answer ALL those questions. From the temperature, to the landscape, to the community, the costs etc... If The Villages is on your horizon as a place to retire, you're going to want to listen to this podcast. You can visit Skip's Youtube page at https://www.youtube.com/user/thistrucksforyou. Don't forget to subscribe too once you're there! --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

Social Security checks are less than retirees expect according to a study reported on by USA Today. (The link to the article is below). I have a couple problems with the article first. To begin with it says "future retirees who were surveyed expect to receive $1,628 on average each month. But those surveyed who are already in retirement say they are only collecting $1,257. "That's a big difference," Ambrozy says. "It's like taking a 25% pay cut." There's absolutely nothing odd at all about what a future retiree EXPECTS from Social Security and what a current retiree RECEIVES. Secondly, the article states that the average Social Security check is only $1,410 a month. The implication is that if that is the average check and future retirees are banking on $1,628 a month, there is a big disconnect there. You need to ascertain WHO the average recipient is receiving that check and compare that person to WHO the future retiree is. --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support