Being A Baby-Boomer
Being a baby boomer I thought I had it made. At one point I had two new cars, a beautiful new house, a fabulous family and a job to die for. I really couldn’t ask for anything more. And then in 2009 my economic world took a turn for the worst. My two new cars were repossessed, we had a short sale are beautiful home page, and the job that I talked about that was to die for… I was laid off of. Fortunately the only thing that did not change was my fabulous family. We definitely had to do some rebuilding concerning our day-to-day living. We were put back to a place and time where we were when we first got married. We were struggling to find affordable health insurance, and that’s a major undertaking in and of its self. And as I mentioned, we had to let go of our two new cars and so we thought two more cars with cash money, of course they were used and needs a lot of work. But I did find out that auto insurance prices were much cheaper on an older car then a new car because we only had to have liability. This is definitely been an eye-opening and life-changing experience for us. We’ve certainly learned a lot about our wants versus our needs.
When we sold our home in a short sale situation we found ourselves having to move in to an apartment. For the longest time while we were in that apartment it never occurred to me that we would need renters insurance. You see in the past all of our insurance had been bundled with one major carrier and we never really thought about breaking it out to see how much we were paying for each type of insurance. Once again, this is been a lesson learned for us. But I will say renters insurance is far less expensive than homeowners insurance and so is the rent payment versus the mortgage payment. So where we are right now as far as our finances are concerned this is a huge plus for us. My husband was online when evening and found Illinois health insurance that would fit into our monthly budget and gives us the health insurance coverage we needed for our family.
There is one item that I am definitely believed about, and that is receiving Medicare on the first day of the month that I turn 65. I am several years older than my husband and we need to think about health insurance coverage for me because as I age it’ll become more difficult for me to have coverage with a private insurance company. So there are some advantages financially as us baby boomers enter into our retirement years. In addition to receiving traditional Medicare I will be able to take advantage of Medicare supplement coverage that will help bridge the gap between what traditional Medicare will pay for in my retirement years and what my responsibility will be. I found that 1-800-MEDIGAP will be able to help me with all of my supplemental needs when the time comes.