Medicare Open Enrollment, RMD Strategies & the Mortgage Payoff Debate

Open enrollment season is here, which means it's time to review your Medicare coverage. Adam walks through the ABCs of Medicare, explains the difference between original Medicare and Medicare Advantage, and shares why even if you're happy with your plan, an annual review matters.Plus, Andy and Adam tackle two common retirement questions: how to reduce those dreaded required minimum distributions, and whether you should pay off your mortgage before retirement (spoiler: the math answer and the peace of mind answer might be different).We cover:Why you should review your Medicare plan every yearOriginal Medicare vs. Medicare Advantage: pros, cons, and who each works best forThe actual costs of Parts A, B, D, and Medigap plansTax diversification strategies to reduce future RMDsRoth conversions and the retirement window of opportunityQualified charitable distributions as an RMD strategyThe mortgage payoff question: when the numbers say one thing but your gut says anotherWhy 2-3% mortgage rates change the math entirely⏱️ Timestamps: (00:34) Episode 19 and keeping track of topics(01:52) Medicare open enrollment: why annual reviews matter(02:58) Status quo bias and Medicare plan reviews(04:27) Original Medicare: Parts A, B, D, and Medigap explained(07:22) Medicare Advantage: lower premiums, more perks, less flexibility(11:05) Who should consider each type of plan(12:19) Healthcare costs in retirement(13:27) RMDs: the required minimum distribution problem(15:02) When RMDs exceed your peak earning years(16:21) Tax diversification: planning ahead to reduce RMDs(20:40) The retirement window for Roth conversions(23:00) Qualified charitable distributions (QCDs)(27:27) The mortgage payoff debate begins(29:44) When debt feels divisive(32:33) The math vs. peace of mind calculation(35:05) Risk tolerance and generational perspectives on debt(37:41) Maintaining flexibility even after payoff(39:15) Don't over-optimize your life(39:00) Podcast disclosuresResources:Follow Burney Wealth Management on LinkedIn | www.linkedin.com/company/burneywealthmanagement Follow Adam Newman on Linkedin | www.linkedin.com/in/adam-newman-cfa-cfp%C2%AE-mst-ricp%C2%AE-cepa-48853916/ Follow Andy Pratt on LinkedIn | www.linkedin.com/in/andyjpratt/ Move Health: Medicare plan review partner | https://movehealth.io/ Ep. #16: The Psychology of Investing | burneywealth.com/blog/behavioral-biases-investing-psychology-episode-16 #Medicare #OpenEnrollment #RMDs #RetirementPlanning #MortgagePayoff #TaxPlanningThe Burney Company is an SEC-registered investment adviser. Burney Wealth Management is a division of the Burney Company. Registration with the SEC or any state securities authority does not imply that Burney Company or any of its principals or employees possesses a particular level of skill or training in the investment advisory business or any other business. This content is for informational and educational purposes only. It is not intended as personalized investment advice or a recommendation.