A Major Medicare Deadline Is Tomorrow

Your NFT questions, answered

I'm not a big fan of the book title, "Medicare for Dummies." I know it's part of a series, but still...how about, "Medicare for Folks Trying Their Best to Navigate a Complex Program?" The truth is, you can be plenty smart and still get mixed up by the alphabet soup that is Medicare Parts A, B, C and D (and Plans  A-N). Luckily, the program offers recipients periodic opportunities to change their minds — and their coverage. We're coming to the end of one of those periods tomorrow. The Medicare Advantage Open Enrollment Period allows people with Medicare Advantage to switch plans or move back to Original Medicare. Learn more about it in today's edition (and if you're too young for Medicare, it's never too soon to learn the basics — mainly, the coverage isn't free)! Retire with Money will be off this Friday. See you in a week! Best wishes, Elizabeth P.S. If you got this newsletter from a friend, sign up here for email delivery to make sure you don't miss the next issue. TIMELY RETIREMENT NEWS, INSIGHTS, AND ADVICE   A Major Medicare Deadline Is Coming up This Week If you're on Medicare Advantage, listen up.   The IRS Just Extended the Deadline for Making HSA and IRA Contributions for 2020 The deadline is the same as the federal income tax deadline.   Non-Fungible Frenzy: Why NFTs Are Suddenly Everywhere Here's what to know. RETIRE WITH MONEY COMMUNITY NEWS This week in our Retire with Money Facebook group, members discussed this story. The headline is "How People Lose All Of Their Money" and the text asserts, "Going from million/millions to zero is certainly possible, and there are just as many ways to do so as to go from zero to a million." This may be true, but I'd counter that this framing could scare people away from investing, when in reality blowing through millions would probably involve an extreme combination of bad judgment and bad luck. As one member put it,  "I have known people to go through hundreds of thousands day trading. But have known zero people to go broke investing in large bond or stock funds."  Dollar cost averaging into diversified, low-cost funds isn't going to bankrupt you. On the contrary, it's a good way for average people to build wealth over time. TRADITIONAL IRA, ROTH IRA OR BOTH? Both traditional and Roth IRAs are tax-advantaged accounts that help you save for retirement. Yet there are some key differences. For starters, there is a maximum income limit to contribute directly to a Roth IRA. If you do qualify, the long-term benefits are powerful because potential earnings grow tax free and you can make withdrawals tax free in retirement. With a traditional IRA, there are no income limits to contribute and there is the more immediate benefit of tax-deductible contributions. Other considerations include whether your spouse works and how good you are at saving. You may even find that having both a traditional IRA and a Roth is right for you. See which IRA works for you Investing involves risk, including risk of loss. Fidelity Brokerage Services LLC, Member NYSE, SIPC. © 2021 FMR LLC. All rights reserved. 964071.1.0 RETIREMENT NEWS FROM AROUND THE WEB 55% of Americans Say the Pandemic Set Their Retirement Plans Back 2 or More Years A new survey from Fidelity highlights the pandemic's toll on retirement preparedness. CNBC MAKE IT Essential Car Maintenance Tips Right Now Don't neglect these steps, even if you're not driving as much. NEXT AVENUE Gen X Emerging From Pandemic with Firmer Grip on America's Wallet Baby boomers still account for more than half of household net worth, but their share is declining. REUTERS How Jane Fonda Became the Most Radical Woman in Hollywood. Again The iconic actress and activist reflects on her long life. HARPER'S BAZAAR Elizabeth O'Brien is deputy editor at Money. She has covered retirement and health care for nearly a decade. A Brooklyn resident and mom of two boys, she navigates the alphabet soup of Medicare and the New York City subway system with equal ease. You can email her at elizabeth.obrien@money.com and follow her on Twitter at @elizobrien. This newsletter is free because Money earns a commission when you click or make purchases from the links in this email and on our site. We also receive compensation for some of the products and services featured in this message. Offers may be subject to change without notice. Learn more about how we make money. Privacy Policy • Advertise With Us • We're Hiring! To stop receiving these emails, unsubscribe or manage your email preferences. Copyright ©2021 Ad Practitioners, LLC. All rights reserved. Metro Office Park Calle 1, Building 7 Suite 204, Guaynabo, 00968 Puerto Rico, USA