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In episode 57 of the YMYW podcast, Joe Anderson, CFP\xae and Big Al Clopine, CPA shed light on scary statistics regarding the rise of healthcare costs and share strategies to show how listeners can protect themselves. Plus, how traditional retirement planning has changed over the years. Original publish date August 20, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed.\xa0

01:43 - \u201cThe typical inflation rate has been around 3% historically; we use about 3.7% to be conservative. Medically right we do about 5.7% because that\u2019s what it\u2019s been growing at.\u201d

02:55 - \u201cIf you want to get an hour full of Medicare [education] go to purefinancial.com and check out our recent webinar.\u201d

05:33 - \u201cA lot of people don\u2019t realize that Medicare does not cover [all] long-term care stays.\u201d

9:00 - \u201cAge 70 \xbd is when you have to start taking your required minimum distribution out of your IRA and 401(k).\u201d

15:45 - \u201cWhen it comes to parents\u2019 children and how much they\u2019re spending on athletics\u2026how much are they spending?\u201d

25:25 - \u201cA 25% tax bracket means you pull $100,000 out of your IRA and you pay $25,000 in tax.\u201d

29:10 - \u201cYou have to make sure you understand what\u2019s going to come to you as a guaranteed income source.\u201d

30:59 - \u201cWhen we\u2019re trying to reduce taxes in retirement, probably one of the first things you have to know is your tax bracket.\u201d

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