Avoid This Costly Medicare Mistake in Retirement

Brad discusses the financial impact of IRMAA (Income-Related Monthly Adjustment Amounts) on retirees, highlighting how unexpected life events—such as the death of a spouse, the sale of a business, or the need for long-term care—can drastically increase Medicare premiums and reduce Social Security benefits. He emphasizes the importance of strategic income planning before age 63, given the two-year look-back rule that determines IRMAA surcharges. Real-life scenarios illustrate how retirees, particularly surviving spouses, often face financial strain due to increased taxable income, higher Medicare costs, and the need to self-fund long-term care.