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Best of Talking Money: Social Security and Medicare, Part 1

Show aired on July 2nd, 2022

Highlights from the show originally aired February 26, 2022. 

Eddie Holland, CFP®, CPA/PFS, CKA®, joins Mike to discuss Social Security. They answer the following questions:

  • If I’m going to collect social security and continue working, how do they calculate the amount taken out for social security and when do they look at that?
  • How much of your social security will be considered as taxable income for a given year?
  • What is full retirement age and why does that matter?
  • What is the split strategy?
  • What is the income reduction?
  • If I have health benefits through my job, but I am approaching Medicare age, do I need to switch to Medicare?
  • How would enrolling in Medicare affect your usage of a Health Savings Account?
  • Does a spouse have the ability to use your Medicare or Cobra if they are themselves too young to apply?
  • How does my income affect my Medicare premium?

Disclaimer: “Ronald Blue Trust and its employees have general knowledge of the Social Security tenets, however, they do not have complete expertise to provide a full discussion of the details of your specific situation. So, for additional information, contact your local Social Security office.” (and don’t be afraid to ask questions or for a supervisor if the information isn’t clear or not what you were expecting.)

 

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    Though Mike Miller is an employee of Ronald Blue Trust, Talking Money® represents his individual views, and not those of his employer or any other sponsor of the program. During the program, Mike may discuss market trends as well as specific financial planning techniques and investment ideas. These discussions are for general information only and are not intended to provide specific advice or recommendations to any individual or organization. Work with your attorney, or accounting, or investment professional for specific individual advice and services. Any securities or investment products discussed on Talking Money® are not insured by the FDIC, are not a deposit or other obligation of or guaranteed by any bank, and are subject to investment risk, including possible loss of principal amount invested. Some shows contain time sensitive material that should not be relied upon without verifying.

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