Daily Income needs, your current health, your ability, or desire to work, and needed health insurance for your spouse are all factors in deciding if, or when you retire.
Part of retirement planning should include an Accountant, Elder Law Attorney, Financial and Estate Planner, and a trusted Medicare Insurance agent.
For those who had no choice and had to retired early due to downsizing, Covid-19, and other factors you still need to do retirement planning.
You have a 7-month window to apply for Social Security.
If your new to Medicare, the timeline would be 3-months before your 65th birth month and 3-months after your birth month to apply for a Medicare card. You cannot enroll in a Medicare policy unless you have a Medicare card with issue dates for Part A and Part B.
If you are going to continue working after your 65th birthday, and your employer has a creditable health and medication plan, then you can delay applying for Part B and delay getting your monthly Social security check until after you retire.
When you do decide to retire and leave your employers health plan, you will have a 2-month period to select and enroll in a Medicare health plan. It is best to contact me me at least 2-months before your retirement date.
Even if you are under 65-years of age and on disability, you can enroll in a Medicare Policy if you are past the 2-year mark. If you are on Social Security disability, you will automatically be enrolled in Medicare Part A and Part B prior to your 65th birth month.