Joining a job or starting a business after retirement- does it make a sense?

Joining a job or starting a business after retirement- does it make a sense?

The perception and orientation of life in today’s time, is completely different from what it was, even in the recent past. This embraces not only the younger people, but, the elderly individuals, who have retired from their jobs and professions, as well. Today, you will find a good count of retired individuals, getting into jobs or starting a new business. What drives retired individuals to keep on working, even after their formal retirement? Where lies the benefits in choosing such an approach? Let’s explore the answers to these questions.

It gives you a feeling of independence and accomplishment

The best part to take up a job, or starting a business after retirement is that it fetches a feeling of independence and accomplishment. Usually, retired individuals are assumed to be dependent on their children for meeting their needs, or relying on their savings. But, when you start working after retirement, you will be financially more secure and in a better position when you get 2020 Medicare Supplement Plans so you would not have to depend on your children, nor ,you would need to go on consuming your savings so head to

You get into a better financial position

One of the key factors that can ruin the retired life is that of financial instability. Probably, you have put your best efforts to save ample to support your retired life. But, thanks of inflation that is likely to make the fund inadequate to support you for as long as you live. So, once, you start a business or get into a job after retirement, you develop a regular income that  will support your basic and secondary needs. This way, you can escape the instances of  your savings getting exhausted within a few years within retirement. Especially, if you have not been able to repay all the debts  before retirement, this income will enable you to overcome this  burden.

You will be busy, agile and more active

Remember  the  old saying, rolling stones gather no moss? When you start working after retirement, you will be bale you keep yourself busy, active and agile. This way, you can overcome the stresses and strain that develops  when you lead an inactive lifestyle. Likewise, leading  an active lifestyle will also enable you to keep healthier ,and hence, happier   Before you take up a job or start a business after retirement, ensure that your health allows you to get into such endeavors. Most importantly, don’t overdo things, and start ignoring your  health, ignoring your health or family life.

The key elements of a worthy Retirement Planning

The key elements of a worthy Retirement Planning

You must have heard the term retirement planning before, however, it is likely that you don’t have a clear understanding of it. Actually, the majority of people, who  have retired from their jobs and  businesses, or are standing on the verge of retirement, consider to plan for their life after retirement. Retirement planning, explained in simple terms, is the proposed fiscal and non-fiscal plans that you aspire to take up in the retired life. In other words, it is a set of proposed activities that you plan to lead a secure, safe, and enjoyable life after the age of 65 years.

Prepare a budget and stick to it

You should be well aware of the various heads of your ongoing and timely expenses. This should include all the expenses for basic needs, medical care, as well as the expenses for unplanned events and entertainment expenses as well. Approach the planning in this regard with a realistic and practical approach, and never ever get into something that will retard the quality of life. Likewise, you should try to refrain from unproductive and unplanned expenses to the extent possible. Similarly, while drafting the budget, consider your cash inflows. Preparing the budget will only make some sense,when you will actually abide  to it.

Arrange for the means to support your needs

Once, you have prepared your budget, you should look for the means to support these expenses. You should have invested your savings in a manner that it should produce sufficient returns to meet all these expenses, and subsequently produce some surplus. If your health allows, you can even get into any jobs or start a new business that will produce some regular income to support your needs and requirements. Don’t dare to invest your savings into ventures that are high risk bearing.

It is important that you hold a non-fiscal planning as well

Remember, retirement planning should not involve the financial aspects only. Rather, you should also plan those activities that will keep you happily engaged and check 2020 Medicare Supplement Rates on
It implies, you should have thought of engagements and activities that would enable you to enjoy life. The biggest mistake in retirement planning will be not to consider these aspects, and merely focusing on the financial activities only. Give yourself time to enjoy the family life as well as try those things that you will love to  do, or you were unable to try before your retirement.

The Smartest Exit Strategies For Startups Revealed

A great startup always has a great exit strategy. An exit strategy can be thought of as the lifeboats in a ship, which can be used to get out when the start-up is sinking although losses are not the only time when exit strategies are used. It is a part of the business plan which deals with getting out of a sticky situation without much loss. An exit strategy gives the investor a strong sense of assurance that no matter how the investment turns about, there is always an alternate route.

An exit strategy must not be understood as being a pessimistic option with respect to the company. In fact, there could be two broad reasons for employing one. One could be that the investors are asking for their return soon. Second, could be when the entrepreneur himself / herself decides to sell off the company to someone else to explore new ventures. In either case, going through an exit strategy is essential and it needs detailed formulation in the beginning. Startups and Investors usually employ these strategies:

  • Merge: As the saying goes, ‘If you cannot beat them, join them’. Merger helps both the buyer and seller especially if they have services / features that can complement each other and thus create new products at a much faster rate at lower exertion of resources.
  • Stocks: Startups, mostly in the earlier times, used to offer shares of their company to stock traders who would play the buy and sell game. The money raised through those transactions would then be used to revamp the company functioning. But this path has been looked down into in the recent times, thanks to lower IPO rates and more volatility in markets.
  • Sell it: The buyer must be better in skill of operating the business. The money acquired through the transaction could clear all the debts between the investor and the business owner and might also give some return to the initial owner.
  • Cash Cow: This strategy is for businesses that are running well in a stable market. Sales are increased, the money acquired through them are used to clear all financial holdings of the investor and someone who is capable of running the business is hired while the founder continues to get the share of profit he / she has opted for.
  • Shutdown: Many businesses are often forced to take this path. It may not be as negative as it may sound; in fact, sometimes these seem to be the best option. The asset as a whole is liquidate and is used to complete all the pending transactions.

The nature of the business and the market it goes through determines the best exit strategy. One positive approach to an exit strategy is thinking of it as a tool helping in reducing the negative impact on the firm by boosting up its positive potentials. Compare Medicare Supplemental rates  here

How to align Medicare supplement plans with senior retirement

Medicare Supplement insurance plan is available for all aged 65 years. This also includes those consumers already receiving the aid of Medicare health coverage due to some kind of disability. The period in which you will be able to sign up for Medicare is known as the Open Enrollment. The period lasts for six months during which if you are aged 65 years and older and hold a Part B insurance coverage, companies can sell you any supplemental coverage that they offer. Always take advantage of this Open Enrollment period when you can avail many of the insurance coverage policies without paying any excess sign up amount.

Lock-in period and savings in Medicare

After the limited period when the offering is available to obtain the best insurance support, post six months the Medicare association will choose individuals whom they will cover and by how much based upon their present health condition. In case you already have an individual healthcare policy, you do not need to cancel that service in order to seek coverage from Medicare. Bank group insurance policies and others also offer coverage claims, so you may as well want to look into them first and compare their plans. Sometimes, certain insurance policies may work otherwise in some situations. Hence, it is always important to verify all the benefits that you would be entitled to receive.

Insurance coverage for seniors

Seniors from the state are already in a dilemma whether to avail the Mutual of Omaha medicare supplement plan G and opt for these services. Medigap policies are based on specific individuals that are more rewarding than the standard health coverage. The most of insurance coverage and the associated costs remain the topmost concerning factors for seniors. They want to avail the most cost effective insurance support that aligns with senior retirement. Most Medicare beneficiaries have a fixed income and hence they must consider all the available options.

There are various types of plans with varying coverage amount. Depending on the policy that you choose, Medigap rates vary greatly. When deciding upon an insurance provider, make sure you compare the benefits and the related costs. The health care coverage provider should also work with you to understand your present standing, based on your insurance needs and the economic condition that you are in. Does the service provide the coverage based on the policy rate most affordable by you?

Medigap insurance coverage

For seniors worldwide, health care remains the top concerning factor and you would want to seek additional coverage. Before you sign up for a service, make sure you’ve weighed all your options. Medigap offers a number of supplemental plans for seniors. Network based health care associates such as doctors, hospitals, home care givers, and more who understand your specific medical situation will be able to help you gain 100 percent coverage of your medical needs. In that way, you will be able to cut down on the extra expenses that will greatly reduce your spending. Take time to compare the Medicare supplement plans that you can avail by consulting the Medicare group in your state. Their staff is knowledgeable on medical coverage and can guide you to obtain the complete insight into supplemental plans that will fill-in the gaps of your health care coverage needs.

Best Options for Choosing A Medicare Supplement Plan

Choosing a Medicare supplement plan may feel like tearing your hair out. Due to the gaps in the coverage of the plan, it is very difficult to pick the one where you will have to pay a minimum out of pocket costs. All of the Medicare plans offer the basic benefits like hospice care copayments and coinsurance charges. But in order to understand which plan works the best for your case, you should consider a few important factors. You don’t only need to be aware of the out-of-pocket costs that you will have to bear with each plan but you should also keep in mind the following factors in order to make an educated decision:

  • Frequent Traveler

If you have a job that requires frequent travelling then you need to take it into account while making the Medicare plan decision. Medicare plans C, D, F, G, M, and N offer 80% of the charges if you require emergency care in another country. If you want to use any one of these plans, then you can get travel Medicare insurance for $250 for sixty days of travelling abroad. The better option is for you to get a lifetime limit at $50,000.

  • Maximum Possible Coverage

For people who want a comprehensive plan and wish for maximum possible coverage, Plan F is the best option. This plan is the most popular one because it covers everything except foreign care. Just like other plans, it offers to pay for 80% of the foreign emergency medical care. If you want an even better plan, then you can go with plan F+. It is a premium plan where your payments will be low. However, the problem with this plan is that it does not offer any coverage until you have met the yearly deductible threshold.

  • Part B Costs

People usually avoid a few plans because for most people, meeting the part B deductible is difficult. If you don’t want to take the stress of meeting part B costs, then plan C and F are the best ones out there for you. They assist you in paying for part B and share your burden so you don’t feel all the burden upon yourself. The good news is that no matter which plans you choose, it pays at least a fraction of the Part B costs. It depends upon your preference and the rest of the plan benefits to figure out which plan you should choose. For example, plan L covers 75% of part B costs while plan K covers only 50%. There are plans like plan N that cover 100% of the part B costs.

It is understandable that choosing a supplement plan is not easy because you are choosing the quality of medical care for yourself. If you feel like you are unable to make this decision on your own, then you can also talk to a professional and get his opinion. The experts explain the pros and cons of each plan and make the terms easier for you to understand. They will help you figure out the best Medicare supplement plan option for you.

How is Long-Term Care Affected By Affordable Care Act?

Long-term care is not really covered by typical medical guidelines. For example, primary Medicare benefits include irregular or short-term care. If a plan member has to spend many months or even years in a care center, this depletes their Medicare benefits. Supplements or Medicare Advantage plans generally reflect the benefits of the original plan. Find a 2019 supplement plan at imperative to keep this in mind since most individuals do suppose their Medicare benefits certainly will cover these costs.

Another story entirely is Medicaid. This federal and state program for low-income Americans can cover the cost of long-term care. The qualification rules vary depending on the condition and, sometimes, also on the individual circumstances. However, he is likely to say that most people need to spend most of their savings to qualify.

How much does long-term care cost?

Of course, the maintenance costs of the installation and the location will determine it. I have seen government and private studies who give the mean price of full-time care homes in the US. Set the number between $ 6,500 and $ 8,000. These are current numbers, and costs could increase in the future if so many other health care costs are incurred.

These costs could quickly destroy the savings. Other types of care, such as assisted living and home care, may be a bit cheaper. But they can still cost thousands of dollars a month.

Does the health reform cover the costs of Nursing care?

The CLASS Act was intended to provide a voluntary long-term care insurance program, but was abandoned for the time being. There are provisions in the Affordable Care Act (ACA) to extend Medicaid benefits so that it can help provide low-income seniors with the care they need. At this time, most Medicaid care funds are in nursing homes. Some provisions of the ACA broaden the range of health services in the home and in the community, so that some elderly people can receive better care at home.

Many states are trying to reform nursing care independently. Several states of the USA have partnerships for long-term care insurance associations. When residents purchase the Qualified Care Insurance (LTCi), the states change the Medicaid qualification rules. This helps participants qualify for Medicaid without spending all their money when their plans expire.

Also, some competent care plans have tax deductible. This can be an additional incentive for people to be covered. The tax deduction reduces the “real” costs of premiums.

As you can see, ACA does not seem to be directly influencing nursing care at this time. Some programs can help expand services for some people. Nevertheless, government incentives exist for individuals to acquire policies that help them pay for care in the future. Some of these incentives can be at the national or state level.


Should you plan the costs of long-term care?

I have seen studies that estimate the number of people needing medical attention from fifty to seventy percent. If you plan to retire, you should not ignore these costs. There are several ways to plan costs and it is important to find the right solution for you and your family.

Medicare Supplement Insurance and Independent agents

The sales industry of Medicare’s insurance has changed dramatically in recent years, trying to adapt to the more than 10,000 people who specialize in Medicare and who are more tech savvy than any other group in the history of mankind. Boomers are quite comfortable to interact over the internet. You can buy almost everything online, including Medicare plans. But should you?

Personally, I believe that an independent agent you can rely on locally is the best approach when buying Medicare plans. Medicare can be puzzling. Mailboxes and the Internet are replete with many conflicting information. And while I have several customers who have done most of their first online research; Finally, they wanted to sit face to face to make their final purchase decisions.

Advantages of using an independent insurance agent:  find one at

  1. Independence – An independent insurance agent usually have contracts with a majority of insurance companies in your area. This means that they can do the shopping for you, and you do not have to make multiple calls to all insurance companies.
  2. choice – due to their relationships with several insurance companies, the loyalty of an independent agent is yours. That means they can offer you every business, every plan and every available price.
  3. Local – An independent insurance agent is usually a small business owner. Their support means you can hold jobs within or around you.
  4. Free of charge – The agent’s commissions are paid directly by the insurance companies. So you never pay for services or more for Medicare products that you purchase through them.
  5. Resources – Independent agents are a great resource for information on local providers, community help and caregivers available to Medicare beneficiaries.
  6. Longevity – So many independent agents have been available for a while. It means that you will be having a genuine relationship with an individual who will be with you and your family in the long run.
  7. Service – have You received a bill from a doctor that you do not think is correct. Your recipe is no longer subject to the new formula? You have received a premium increase? Would you rather call (and wait) for the same 800 number used by millions of other Medicare beneficiaries or ask your personal insurance agent for help?

A Medicare benefit plan is an option that a Medicare beneficiary has. It’s important to understand how these plans work before deciding to sign up. Any experienced supplement insurance agent is competent enough to explain the differences between Medicare Advantage plans, traditional Medicare, and Medicare supplements so that you can make the right decision for yourself.

With an independent insurance agent you lose nothing if you prefer to communicate via email or online. Many agents are quite conversant with the available technology in the Medicare insurance industry and have their own emails, websites, and Face book pages where they can interact with their customers. However, it may also be nice to sit down at your kitchen table to discuss some of the issues that arise when we grow older with a knowledgeable and experienced agent who chooses to be with you in the trenches.

Pitfalls That One May Face From Medicare Advantage Plans

When it comes to choosing the right Medicare Advantage plans that will be best for you most people fail to do so. The reason is that they are not aware of what they need and thus choose something wrong. Whether its HMO plans or PPO plans while choosing any one of these you need to be careful.

Although these plans have been benefiting many from years still there are ones who say bad words. The reasons may be

Action of unscrupulous agents

Medicare Advantage plans are explained by the agents of the private insurance companies. There are times that many unscrupulous agents sell plans without even considering the need of the beneficiary. There are a lot of stories that alerts others that before rolling into any other Medicare Advantage plan you need to be careful. Your Doctor or medication may not be include in that plan!

These agents does so for getting commission without thinking about the interest of beneficiary. Thus, before you take any plan change or go for new plan make sure that it covers your ailment and your Doctor is in their network. Action is taken from Center for Medicare and Medicaid services but one should be careful too.

Misleading plans

There are many Medicare Advantage Plans that has very low or sometimes zero premiums. Many get these plans for them in the hope that they will get something by paying nothing. However, you cannot expect to get anything without giving something. Thus, what seems very simple is not actually simple. If you check properly you will find that co-insurance, co-pays and high drug costs will make you pa even more at the end.

It is better to consider every aspect before falling prey to any such plans. The final payment for treatment comes to much more with these plans. If you think that they can be helpful then think twice and discuss with an expert.

Restrictions to Networks and Plan Rules

Many people have grievances that once they take the plans they can get the advantage only and only when they see the doctors or health care providers within the network. The truth is something different. It depends upon the plans that you choose. Like, if you have HMO then you can have a primary care provider. In case they find it fit they may refer you to some specialist and still then you are covered under the plans.

In simple words it can be said that everybody can take benefit from the plans provided that they have chosen ones that fits their health requirement. If someone tries to be smart then they may not get advantage of these Medicare Supplement Plans 2019


Arе уоu соnѕіdеrіng рurсhаѕіng a Mеdісаrе advantages іnѕurаnсе рlаn? If уоu аrе, іt’ѕ іmроrtаnt thаt уоu consider аll оf уоur options to еnѕurе you рісk the рlаn thаt wіll bеѕt ѕuіt your hеаlthсаrе needs.

Currently, thеrе аrе 10 different Medicare ѕuррlеmеnt рlаnѕ sold across mоѕt states (еxсludіng Mаѕѕасhuѕеttѕ, Mіnnеѕоtа аnd Wіѕсоnѕіn). Of thоѕе рlаnѕ, Mеdісаrе ѕuррlеmеnt Plan G and Plаn N аrе two оf thе mоrе рорulаr plans.

When сhооѕіng between Plan G аnd Plan N, it is іmроrtаnt thаt уоu undеrѕtаnd whаt еасh рlаn соvеrѕ (and dоеѕn’t cover) tо ensure уоu undеrѕtаnd your responsibilities іn rеgаrd to уоur out-of-pocket medical еxреnѕеѕ.

Fіrѕt, lеt’ѕ dіvе іntо whаt еасh рlаn соvеrѕ.

Medicare Suррlеmеnt Plan G

Medicare ѕuррlеmеnt Plan G is slowly bесоmіng a more рорulаr Medicare ѕuррlеmеnt рlаn, bесаuѕе it offers thе ѕесоnd mоѕt соvеrаgе оut of аll thе plans (ѕесоnd to Plаn F, whісh іѕ going аwау in 2020).

Plаn G covers the following medical expenses:

  • Medicare Pаrt A соіnѕurаnсе аnd hospital соѕtѕ
  • Mеdісаrе Pаrt B coinsurance оr сорауmеnt
  • Blood (fіrѕt 3 ріntѕ)
  • Pаrt A hоѕрісе care соіnѕurаnсе or copayment
  • Skіllеd nursing fасіlіtу саrе coinsurance
  • Medicare Pаrt A dеduсtіblе
  • Medicare Part B excess сhаrgеѕ
  • Fоrеіgn trаvеl еmеrgеnсу (uр tо рlаn lіmіtѕ)

Thе one thіng thаt Plаn G dоеѕ not соvеr іѕ thе Pаrt B dеduсtіblе, whісh is $183 іn 2018. Onсе thаt deductible іѕ mеt, уоu еѕѕеntіаllу hаvе full соvеrаgе on Mеdісаrе-аррrоvеd еxреnѕеѕ.

Mеdісаrе Suррlеmеnt Plаn N

Thоugh Plаn G іѕ typically a mоrе рорulаr option, Plаn N соmеѕ pretty сlоѕе. Medicare advantages Plan N іѕ typically a less еxреnѕіvе plan, bесаuѕе іt оffеrѕ less соvеrаgе thаn Plаn G. Hоwеvеr, it іѕ ѕtіll fairly рорulаr gіvеn thаt іt still оffеrѕ a good аmоunt оf соvеrаgе. Plаn N оffеrѕ a gооd bаlаnсе bеtwееn рrоtесtіоn аgаіnѕt еxtrеmе оut-оf-росkеt еxреnѕеѕ аnd affordable рrеmіumѕ.

Plаn N соvеrѕ thе fоllоwіng medical еxреnѕеѕ:

Mеdісаrе Pаrt A соіnѕurаnсе аnd hоѕріtаl соѕtѕ

Medicare Pаrt B coinsurance аnd copayment (еxсерt $20 fоr ѕоmе office visits and $50 for еmеrgеnсу rооm vіѕіtѕ)

Blood (fіrѕt 3 pints)

Pаrt A hоѕрісе care соіnѕurаnсе оr сорауmеnt

Skilled nurѕіng fасіlіtу coinsurance

Medicare Pаrt A dеduсtіblе

Foreign trаvеl еmеrgеnсу (up tо рlаn lіmіtѕ)

Onе thing to kеер іn mіnd that, with Plаn N, you wіll be responsible fоr all Pаrt B еxсеѕѕ сhаrgеѕ. Thіѕ means that, if уоu see a рrоvіdеr thаt doesn’t participate іn Mеdісаrе, thіѕ dосtоr can charge up to 15% mоrе thаn thе standard Mеdісаrе rаtе. Yоu will be responsible for рауіng this оut-оf-росkеt іf you hаvе a Plan N.

Get a quote or enroll, maybe both at

Whісh Plаn is Best fоr Yоu?

Medigap Plan G vѕ. Plаn N

Whеn choosing уоur coverage, іt іѕ important tо think long-term. Whу?

Well, аftеr your оnе-tіmе Oреn Enrоllmеnt Pеrіоd, you’ll bе ѕubjесt to medical underwriting if you wаnt to ѕwіtсh to a dіffеrеnt рlаn. In this саѕе, thе іnѕurаnсе company rеѕеrvеѕ thе rіght tо refuse соvеrаgе оr сhаrgе higher рrеmіumѕ fоr уоur рlаn.

So, whеn deciding bеtwееn Plаn G and Plаn N, уоu rеаllу have 2 things tо соnѕіdеr:

Arе уоu оkау with рауіng a hіghеr premium for mоrе соmрrеhеnѕіvе соvеrаgе? If уоur аnѕwеr іѕ уеѕ, thеn a Plan G mау be thе option fоr you.

Or, would уоu rather рау lеѕѕ for your рrеmіum and potentially pay mоrе оut-оf-росkеt fоr your mеdісаl еxреnѕеѕ? If that’s thе саѕе, thеn Plаn N mау bе thе орtіоn for уоu.

When considering these 2 questions, іt’ѕ сruсіаl that уоu tаkе your hеаlth into соnѕіdеrаtіоn. Yоur сurrеnt hеаlth ѕtаtuѕ will hеlр іnfоrm how frequently уоu’ll lіkеlу be visiting thе dосtоr еасh уеаr.

If уоu’rе fаіrlу hеаlthу with minimal dосtоr vіѕіtѕ, Plаn N may work fоr уоu. If you visit the dосtоr frеԛuеntlу, Plаn G mау bе your bеѕt bet.


It’s fundamental that you get the correct kind of supplemental inclusion. Since there are ten different choices, it tends to befuddle endeavoring to choose which one is best for you. There are a few different classes and factors that you should take a gander at to guarantee that you’re getting the ideal healthcare inclusion.

The principal thing that you should take a gander at is your health and any restorative issues that you may have. The more established that you get, the more that you will spend on hospital expenses and health care costs. If you’re in weakness or you have some serious health complexity, at that point you can hope to be at the specialist a ton, which will convert into costly bills. Medigap insurance will help pay for the bills and give you the extra addition that you require.

The following variable to consider is your financial plan. As a senior, you may live on a settled spending plan, which implies you might not have a huge amount of cash to spend on extra insurance inclusion. The reason for Medigap plans is to ensure your investment account; however, you shouldn’t break your bank each month to have the inclusion. Invest some energy by taking a gander at your funds to choose the amount you can serenely spend on supplemental assurance.

Selecting a Medigap Plan is easy at

Buy one of these supplemental strategies is simple. A Medigap insurance specialist can walk you through the procedure and help you get the inclusion that you require. The application procedure won’t take long, however, what’s imperative is WHEN you apply for your plan.

Before you apply, you should know about your Medigap Open Enrollment Period. This is a 6-month window that begins the month that you begin you turn 65. Amid this period, the insurance organization can’t decrease your application, regardless of whether you have numerous health issues. If you’re in exceptionally weakness, this could be your solitary opportunity to get supplemental inclusion.

Also, amid the Open Enrollment time frame, they can’t raise your month to month rates due to your health. After the window has shut, at that point your application will be dealt with like whatever other application, which implies that you could get considerably higher premiums due to your health. If you need to set aside some cash, it’s critical that you join amid the initial a half year.