5 Things A Retiree Will Do Right After Full Retirement Age

Q. I'm about to retire next year at the Social Security full retirement age, what the must do's for me?

A. The following are 5 essential things most retirees need to do: 

1. Social Security – sign up for Social Security. If you have questions about how retirement works.
2. Medicare – when you sign up for Social Security you will automatically be enrolled in Medicare, in fact if you are going to continue to work for a period of time you will have to opt out of Medicare Part B
3. Supplemental Health Plan – some 80% of individuals will purchase some type of supplemental health plan to cover the co-pays and deductibles and/or medical expenses that Medicare does not cover. You will purchase either a Medicare Advantage or Medicare Supplement.
4. Final Expense – you may need to purchase a life insurance policy to either cover the cost of final expense or replace the first year income lost by a spouse passing in later years.
5. Short/Long Term Care – you may need to purchase a plan to help pay for expenses not covered by Medicare or other health insurance to help cover expenses when you are recovering at home after a procedure.

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