by Joe Hearn | Oct 10, 2012 | Medicare
Chances are good that you’ve seen or heard something about Medicare open enrollment recently. What is it? You become eligible for Medicare when you turn 65. You have a seven month window to enroll in the program. The window opens three months before the month you turn 65 and continues for three months after the month you turn 65. If you are already collecting Social Security before you turn 65 you will automatically be enrolled in Medicare.
Once enrolled, each year you have an opportunity to make certain changes to your coverage. That period is called the open enrollment period. It begins next Monday (October 15) and runs through December 7. Any changes you make will take effect on January 1, 2013.
During the open enrollment period you can:
- Change from Original Medicare to a Medicare Advantage Plan (or vice versa)
- Switch from one Medicare Advantage Plan to another
- Switch from a Medicare Advantage Plan that doesn’t offer drug coverage to one that does (or vice versa)
- Join a Medicare Prescription Drug Plan
- Switch from one Medicare drug plan to another Medicare drug plan
- Drop your Medicare prescription drug coverage completely
You can review and compare coverage options at www.medicare.gov or by calling 1-800-MEDICARE. Also, feel free to call or email me if you have any questions.
~ Joe
Photo by Ben Lyon. Used under Creative Commons License.
by Joe Hearn | Oct 5, 2012 | Pursuits, Retirement
We spend a lot of time thinking about how we’re going to retire. “How” is an important question to ask, but don’t forget about “Why.”
If you don’t have a good answer for “Why,” you won’t have much success with “How.” That’s because we’re much more effective at doing things when we have a motivation for doing them. If you asked me to lift up a car to simply test my strength, I wouldn’t even try. If you asked me to lift a car that had rolled onto my daughter, I promise you I’d find a way to get it off the ground.
So as you make those 401(k) contributions, review your quarterly statements and meet with your adviser, don’t forget to ask “Why?” Why are you saving and sacrificing? Is it so you can have more money? Money is the means, not the end. It will enable you to retire, but then what? Why do you want to retire? The stronger your “Why” the more successful your “How.”
How strong is your “Why?”
~ Joe
by Joe Hearn | Oct 3, 2012 | Health, Lifestyle Design, Retirement
For the past year or so, I’ve noticed a disconcerting trend. Each time I step on the scale, the number gets larger. Has there been some sort of change in the gravitational pull of the earth or am I putting on weight?
In 2003 I ran the Marine Corps Marathon in Washington D.C. I weighed about 185 pounds and could run 10 miles without breaking a sweat. Now I weigh 215 pounds and get winded chasing my daughter around the park. If that trend continues, in 10 years I’ll weigh 245 pounds and will be pricing mobility scooters.
In life, there are certain problems that are easier to solve sooner rather than later (more on that below). I turn 40 in December and getting into shape is not getting any easier. Not only is my body clinging to calories like a tiger clings to its kill, but finding the motivation is getting harder as I get busier and take on more responsibilities. If I want to be around for another 40 years, however, I need to put the excuses aside and reacquaint myself with physical activity.
Fit by 40
And so, about a month and a half ago I started going to a personal trainer. I had been lamenting to my boss that I wanted to get in shape, but 1) I needed some accountability and 2) I needed to workout during the day because mornings and evenings were too busy with work and family.
As luck would have it, his son (who plays college football) had gone to a trainer for years. My boss had recently started going as well and he invited me to come along. Not only that, but he told me to take off work early three days a week and he would pay for it. Hard to argue with that.
My first day at the “gym” was pretty humbling. First off, it was not a gym, but a converted warehouse. Imagine that barn in the middle of Russia where Rocky trained in Rocky IV and you’ll have a pretty good idea of what I’m talking about. Lifting rocks—check. Chopping wood—check. Pulling Paulie on a sled through a snowstorm—well, you get the idea.
The people training there were serious: Elite high school, college and professional athletes; ultimate fighters (all wearing oxygen depravation masks to simulate altitude); and…me.
So far my time there has been great. My mantra is “Fit by 40.” The pounds have started to come off. I have more energy. Most of all, I feel good that I’m actually being proactive about a problem that I (and millions of other Americans) struggle with.
Why am I mentioning this? Two reasons:
First, I don’t want to publicly fail in front of hundreds of readers who I respect and admire. Thanks for the motivation! 🙂
Second, and more importantly, I wanted to get you thinking about issues or problems in your own life that need some sort of solution. Too often we sweep our problems under the rug because we’re too busy or scared to deal with them. Then someday, when we shed the competing tasks and responsibilities that used to drown out our problems (a.k.a. retirement) those problems come bubbling to the surface.
Rather than enjoying a meaningful, rewarding retirement we spend our time trying to salvage our marriage, get in shape, recover from a preventable illness, mend neglected relationships or figure out what we really want out of life. Don’t ignore your problems. They’re only going to get worse.
Is there something you need to fix? Start down that path today. If I can help, just let me know how.
~Joe
Photo by Laura Gilmore. Used under Creative Commons License.
