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  • Writer's pictureJamie Smith

10 Strategies for Achieving Retirement Happiness in 2024


Bedrock Financial Group and Senior Solutions is your key to a happy and healthy retirement.
Learn How to Retire Happy in 2024

Are you prepared for your retirement? Have you taken all the necessary steps to ensure you can retire how you want to? Bedrock Financial Group and its Medicare division, Senior Solutions, can help you achieve retirement happiness in 2024 with ten proven strategies. Learn how to retire happily with us.


  1. Determine the right time to retire

  2. Turning 65

  3. Social Security Maximizing Benefits

  4. Medicare and HSA

  5. Medicare Penalties

  6. Medicare and IRMAA

  7. Taxes and Retirement Account Withdrawals

  8. Long-Term Care

  9. Estate Planning

  10. Downsizing


  1. Determining the right time to retire: There are many factors to consider when deciding when the right time to retire should be. Factors such as your health, financial security, Medicare costs, employer benefits, and retiring at a specific time of year can also matter. Understand your financial plan and your employer's retirement package, and get regular checkups with your doctor. Help from an expert is extremely beneficial for retirement planning.

  2. Turning 65: Turning 65 is quite the milestone in life and something to celebrate when handled correctly. There is a ton of conflicting messaging on Medicare, such as when to enroll, how to enroll, and what to do about Medicare while working. We have something to help you navigate: The Comprehensive Guide to Turning 65. We have compiled all the pertinent information needed to help ease the Turning 65 Process.

  3. Maximizing your Social Security Benefits: You can start receiving your Social Security benefits at 62, but if you wait until your full retirement age, or even beyond, you can increase your monthly payments. So, by delaying your claim, you could significantly increase your monthly payment.

  4. Medicare and HSA: First, a Health Savings Account, HSA, offers a unique opportunity for retirement planning because it offers significant tax advantages. That said, before you apply for Medicare, you can contribute to your HSA, but you cannot once be enrolled in Medicare. If you plan to enroll when you turn 65, ensure you stop contributing to your HSA before the 1st of your 65th birthday. It's a good idea to stop your HSA contributions six months before enrolling in Medicare if you are still working because Medicare Part A becomes retroactive by six months.

  5. Medicare Penalties: If you delay Medicare enrollment when turning 65 and are eligible, there could be significant penalties if you fail to enroll at the right time. You can enroll three months before or three months after your 65th birthday.

  6. Medicare and IRMAA: In 2024, if you have an adjusted gross annual income above $103,000 for an individual return and $206,000 for a joint return, then IRMAA applies. The Medicare income-related monthly adjustment amount is a surcharge on Medicare premiums for Medicare Part B (medical insurance) and Medicare Part D (prescription drug plan).

  7. Taxes and Retirement Account Withdrawals: This is where an expert should be used to help you with your withdrawal strategies. They can help you avoid tax liabilities and penalizations. Bedrock can help with pension maximization, 401k rollovers, annuities, etc.

  8. Long-Term Care: This is something we see far too often. When folks think about retirement, they do not consider the possibility they would have to live in assisted living, retirement homes, nursing homes, or in-home care. These are incredibly high expenses to incur during retirement. Medicare does not cover most of the costs associated with long-term care needs. There are options available to you to plan and cover the potential of the expense.

  9. Estate Planning: It is a good idea to have a plan in place with your family members to know and understand what to expect. Creating a clear estate plan that includes a will, a power of attorney, and directed healthcare needs/requests is preparing your loved ones when the time comes.

  10. Downsizing: The house is different now. Some rooms are barely used. As you approach retirement, life has many transitions, including the thought of downsizing your home, but when is it the right time to do so?


Retirement planning does not have to be complicated. With Bedrock, you can. You can get help for your retirement. We are happy to be there for you, how and when it is convenient.


In-person appointment: 833-905-1060

Over the phone consultation: 502-200-1516


Click here for your FREE ebook copy of The Comprehensive Guide to Turning 65. You can download the guide immediately or subscribe to receive updates and enter your email. Within 10 minutes, you should have your ebook download link in your inbox.


Please continue reading below if you want more information about who we are.


Jamie Smith is the Chief Marketing Officer of Bedrock Financial Group and its Affiliates

 

Bedrock Financial Group is a Veteran and First-Responder owned full-service insurance agency.
Bedrock Financial Group is a full-service insurance agency. With Bedrock, you can get the coverage you deserve.

Want to know more?


At Bedrock Financial Group, we're a Veteran and First Responder-owned full-service insurance agency. We provide complimentary consultations and no-cost Medicare reviews. Our home office is located in New Albany, IN. We have a Senior Resource Center in Stanford, KY, and a full-service agency in Asheville, NC. We also offer the following services:

  • Life Insurance

  • Annuities

  • Wealth Management

  • Home + Auto

  • Renter's + Condo + Home Insurance

  • Medicare Plans

  • Medicare Advantage Plans

  • Medicare Supplement (Medigap)

  • Hospital Indemnity

  • Final Expense (burial planning)

  • Mortgage Protection

  • Business Insurance

  • Retirement Planning

  • Medicare Enrollment Help

  • + More

We service the following states: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Missouri, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Alabama, Connecticut, Nevada, and West Virginia.


If you have Medicare questions, you can call our team at 502-200-1516. If you want to schedule an in-person Medicare Benefits Review, please call 833-905-1060. If you would like a comprehensive overall review, call 833-905-1060 or email hello@mybedrockfg.com with your contact information, including your name, city, state, and phone number, and we will connect with you.



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