The Jennings Journal: Recent Episodes
Becki Jennings
The Jennings Journal is a weekly podcast hosted by Becki Jennings of Osage Beach, MO! She is the owner of Jennings Insurance Group, providing exceptional service and preparing their clients for a fulfilling retirement. Her agency focuses on senior benefits, including Medicare Health Plans, Annuities, Life Insurance, and Employee benefits. Becki is passionate about her clients and is currently working to introduce legislation to help Medicare beneficiaries in the State of Missouri If you are a retiree, or pre-retiree, this podcast is for you.
About 47 million people have chosen a Medicare Advantage Plan. Making an informed decision gives you peace of mind. If you choose to get Medicare benefits through a Medicare Advantage Plan know these Advantage Plan basics.
Becki recently went on 89.3 The Key to discuss the new happenings at Jennings Insurance Group. She also breaks down what you need to know about those crazy commercials on TV regarding Medicaid and Medicare.
Prices are rising everywhere. A global conflict is creating market volatility. Retirees and pre-retirees are uncertain about their potential savings. How might these world events affect the global economy and, in turn, affect your personal economy?
How to Help Yourself Avoid the Looming Tax Storm. In a time in which so much feels outside your control, the reality is that your finances and your retirement don't have to be out of control. Your retirement reality can be managed.
Key takeaways:
- What is "tax diversification" and how do the "taxable buckets" play a part in that?
- Should you consider a ROTH conversion?
- You can potentially rearrange you savings in a more tax efficient manner, but it starts with effective planning!
Where could we go from here? Could your taxes be on the way up?
There's a good chance we will see higher tax rates in the future, compared to today's tax rates.
Key takeaways:
- Could the government tax capital gains like ordinary income?
- What is the step-up in basis, and what could the proposed changes to it do to your children and grandchildren's potential taxes?
- Will the proposed plans ONLY impact people making $400,000?
Since shutdowns grounded the economy to a near halt in the spring of 2020, Congress and the Federal Reserve have pumped trillions of dollars into programs aimed at fighting the coronavirus and bailing out industry and small businesses. In essence to save the economy. And so far, there's no sign of the spending slowing down.
The Federal Reserve has committed to potentially more than $4 Trillion in relief efforts on it's balance sheet.
Key takeaways:
- Why retirees could potentially pay MORE in taxes, not less.
- The impact of tax-deferred and tax-now savings accounts on your retirement.
- The potential of higher tax brackets in the future.
- The importance of prudent tax planning for retirement.
What you thought you knew about life insurance, think again. Find out why. One of the most robust financial products you've probably never understood.
Key takeaways:
- We'll discuss the economic impact of illness, accidents, taxes, retirement, and death.
- How do you limit your financial exposure while preserving your legacy?
Becki continues her discuss on Medicare Advantage Plans. She discusses key details to consider when enrolling such as when you can sign up, what healthcare providers you can see, any extra assistance you can qualify for when paying prescriptions, and the penalties for late enrollment for prescription coverage.
Key takeaways:
- Ten tips regarding Medicare Advantage Plans
- When the enrollment is for Medicare
- How you can get assistance for paying for prescriptions
- When you qualify for special enrollment periods
Some folks on Medicare choose to have a Medicare Health Insurance Plan. These plans are called Medicare Advantage plans. Medicare Advantage plans administer your health insurance coverage. These plans have a contract with the federal government and must follow the guidelines set by CMS.
Key takeaways:
- When the Medicare Annual Enrollment Period takes place
- What special enrollment periods exist
- The difference between Medicare and Medicare Advantage
Becki's professional goal is to change the financial destiny for herself and everyone around her. On this episode, Becki and Burke explains how preparing to do so now can pay dividends in the future.
Key takeaways:
- How to change your financial destiny if you can't increase your monthly income.
- Why Social Security, pensions, and 401k's may not be the answer to retirement that you think they are.
- Other asset classes that can help shape your financial destiny.
How do you help secure your lifetime income? Will your money lasts as long as you do in retirement? Becki and Burke share their insights on what sources of income can provide a this type of income, and how retirees need to shift their portfolio from risk to more stable tools.
Key takeaways:
- How the team at Jennings Insurance Group determines your "Protected Income Number."
- What a person needs to do if they have too much risk in the markets during retirement.
- The importance of income in retirement.
Many people think Medicare is free and pays for everything once you are on it. We'll discuss the costs associated with Medicare including the Medicare monthly premium, as well as copays and coinsurance for Medicare A and B.
Key takeaways:
- Medicare - How much does it cost?
- Medicare Part A - hospitalization, what does it cover?
- Medicare Part B - Medical, what does it cover?
- Deductibles, copays, coinsurance
- What can I expect to pay?
We'll discuss how to sign up for Medicare and what to know if you are considering a delay starting your Medicare coverage. We'll also discuss how to enroll later, if you chose to delay your Medicare.
Key takeaways:
- Medicare - where do I start?
- Do I have to sign up for Medicare?
- How do I sign up for Medicare?
- What if I delay my Medicare?
- What is IRMAA?
Is your financial pyramid upside down? How to make sure you have a strong financial base before putting your finances at risk.
Key takeaways:
- Find out if you are in financial danger
- Using a different strategy when you shift from the accumulation phase to distribution phase
- what risks should you be managing when it comes to your retirement
Chances are, if you are a woman, you are going to be handling the household finances at some point. Prepare ahead of time before a crisis. The majority of women do not feel their financial professional is listening to their concerns.
Key takeaways:
- 80% of women do not feel well-prepared to make wise financial decision with their household finances
- what you may not be prepared for
- 61% of women do not feel their financial professional understands their concerns