Call 630-398-3329 to speak with an agent.

Call 630-398-3329 to speak with an agent.

3 Steps to Take When You Turn 65

Posted by David Cheatham, February 21, 2022

For those reaching age 65 this year, you’re probably in your final stages of retirement planning. Or some of you might already have retired early, but you still have a few retirement-related tasks to accomplish. Either way, age 65 is a major milestone. Here’s what you need to know as that birthday approaches.

Seek a reliable estimate of your Social Security benefits. You will be reaching full retirement age soon, as defined by Social Security. Now is a great time to get an accurate estimate of your future Social Security benefits, if you haven’t already claimed them early.

You can also request an estimate based on waiting longer to file your claim. Since benefits rise a bit for each year that you delay claiming them, taking this step can help you to decide upon the right time to retire and collect your checks.

Make a plan for income taxes. If you’re nearing retirement, don’t forget to estimate potential income taxes. They don’t go away just because we stop working! And in many cases, part of your Social Security benefits can be taxed. Discuss this topic with your financial professional so that you don’t face any unpleasant surprises after retiring.

Assess your Medicare options. You become eligible for Medicare at age 65. In fact, you must enroll at this time, unless you have creditable coverage through another plan (such as an employer’s group benefits plan). Failing to enroll on time will mean higher premiums later.

You essentially have two options: You can enroll in Original Medicare, which is administered by the government, or a Medicare Advantage plan which is administered by private insurance companies. These plans work on a network, similar to other healthcare plans you might have utilized in the past, and they roll a number of benefits into one plan that is easier to manage.

There is no single choice that is right for everyone but working with a Licensed Agent can help you learn about your options.  Together we will decide what type of care best suits your preferences, and help you enroll during your initial enrollment window.

Need more information on your insurance options?

Contact us online to learn more

Contact Us

Close Accessibility Tools
Accessibility Controls Reset
Content Adjustments
Font Size

Default

Line Height

Default

Content Scaling

Default

Highlight Titles
Highlight Links
Highlight Forms
Align Left
Align Center
Align Right
Focus Mode
Color Adjustments
Desaturate
Monochrome
Contrast

Default

Saturation

Default

Accessibility Statement

Despite our attempts to make this website accessible for everyone, there may still be some pages or sections that are not completely accessible, are in the process of becoming accessible, or do not have a suitable technological solution to make them accessible. Nevertheless, we are always striving to enhance our accessibility by adding, updating, improving its options and features, and incorporating new technologies.

We want to provide our users with the best experience possible, so we strive to support as many browsers and assistive technologies as possible.

If you wish to contact this website's owner, please use the contact form on the website.

Our User Interface Adjustment Options

Font adjustments - With this tool, users can modify font size, style, letter spacing, and line height for improved alignment and readability.

Color adjustments - Users can customize their color contrast profiles to light, dark, desaturated, and monochrome.

Content highlighting - Users can prioritize key elements such as links, forms, and titles.

Content focus - Users can enable focus mode to highlight the current page information based on their mouse movement.

Close