#95: The biggest concern many would-be retirees have, at least in the US, is the cost of healthcare.

Not only is healthcare more expensive in the US than in every other industrialized country. There’s also no national health insurance system to control costs or standardize care quality…unless you’re a senior or very poor (or both).

In fact, were it not for worries about healthcare, there would undoubtedly be way more US retirees out there today. The average retirement age would drop noticeably.

Because no less than your retirement security is at stake, healthcare financial planning is retirement planning.

That’s why I invited Bo Bowen to the podcast today to share his unique perspective on healthcare financial planning in retirement. Bo is both a healthcare practitioner (pharmacist) and a certified financial advisor who has specialized in advising on healthcare financial planning and retirement health insurance. His dual background gives him unique insight into the way healthcare financial planning is crucial for retirement security.

We discuss:

• The biggest challenges retirees face when it comes to healthcare planning
• What retirees should think carefully about when it comes to health insurance in retirement
• How those considerations change depending on your retirement age
• Checklist for choosing the right health insurance plan if you’re retiring soon
• Common mistakes retirees make when planning for post-retirement healthcare
• When self-insuring might be your best choice in retirement
• How medical tourism can play an important role in retirement healthcare
• What retirees should know about buying health insurance on ACA marketplace exchanges

Check it out here:

https://hackyourwealth.com/health-insurance-retirement-planning

If you’ve already retired, what do you do for health insurance? Knowing what you know now, what (if anything) would you do differently in terms of healthcare planning in the years before retiring?

If you have NOT retired yet, how big of a factor is healthcare and health insurance to your decision of when to retire?

Let me know by leaving a comment.

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Related links:

• https://www.healthinsurance.org
• https://www.healthcarebluebook.com
• https://www.medibid.com
• https://www.linkedin.com/in/bo-bowen-1b64341a6
• Schedule a private 1:1 consultation with me
• HYW private Facebook community

Intro/Outro: Old Bossa by Twin Musicom.

#94: Real estate investing changed a lot the last couple years, but one asset class consistently punched above its weight: short-term rentals, a.k.a., STRs, e.g., Airbnbs.

In 2020, when people couldn’t go on vacation by hopping on a plane to Europe, South America, or Asia, they got in their cars and drove to national parks and mountain / beach / lake towns. Short-term rentals, often seen as safer than hotels, were on 🔥.

In 2021, this trend exploded. 🔥🔥

In 2022, when flying became a thing again, so did “revenge travel.” STRs accelerated even more. 🔥🔥🔥

With average daily rates skyrocketing the last couple years, hordes of real estate investors snapped up homes to turn them into Airbnbs, trying to chase yield.

Now the market is super saturated, with daily rates even contracting in places, and there’s tons of new short-term rental inventory (over half of Airbnb listings added since 2020).

So how can you stand out as an STR real estate investor in the current climate?

In this episode, I interview Diya Liu, a seasoned short-term rental investor who scaled from zero to 9 STRs in one year, netting $100k annual profit, and then quit her BigLaw job to do short-term rental real estate investing full-time. She currently owns three hotels and a dozen STRs.

We discuss:

• Diya’s RE portfolio breakdown - STRs vs. hotels
• Her step-by-step analysis process for screening potential STR vs. hotel deals
• How she analyzes local STR regulations in a market
• Key interior design principles she implements for her STRs
• Marketing strategies to help your STR stand out
• Automation strategies for your STRs - using VAs, messaging guests, etc
• How she met her investment partners and how they split up work

​Check it out here:

​https://hackyourwealth.com/short-term-rental-hotel-investing​

​Are you an STR investor? If so, how have bookings changed in the last 1-2 years? Do you see over-saturation in listings inventory in your area? Are you trying out any different strategies this year? Let me know by leaving a comment.

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I need your help, please leave a listener review :)

If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too!

Related links:

• https://www.instagram.com/diyaesq
• https://www.facebook.com/groups/AirbnbProfessional
• Schedule a private 1:1 consultation with me
• HYW private Facebook community

Intro/Outro: Old Bossa by Twin Musicom.

#93: Early retirees often fill their early years in retirement with lots of travel. There is even a vibrant community of nomadic early retirees who travel long-term.

But what do you do about health insurance, especially if you’re American? Unlike in most other industrialized countries that have universal health insurance, American health insurance is generally tied to your employer, at least before you’re old enough to qualify for Medicare. That means if you don’t have a job, you generally don’t have health insurance. For early retirees, that’s a problem.

What are the health insurance options for early retirees, especially those who plan to travel significantly in retirement?

This week, I chat about early retirement health insurance options with Tracy Winters, Director of Individual Insurance at Good Neighbor Insurance, an Arizona-based health insurance brokerage that specializes in health insurance consulting for long-term travelers, expats, and traveling early retirees.

We discuss:

• The big picture for how traveling early retirees should think about their health insurance options
• When it makes sense to simply self-insure
• Tracy’s observations on which countries offer both high-quality and affordable healthcare
• Tracy’s health insurance recommendations for early retirees who wish to travel abroad 100% vs. 90% vs. 50% vs. 25% of the time
• ACA marketplace health insurance options to consider for early retirees
• How Medicare coverage is impacted when you travel long-term
• When it’s worth repatriating to the US vs. staying in-country to get medical care, plus what kind of insurance plans provide repatriation services

Check it out here:

https://hackyourwealth.com/health-insurance-retirement-travel

If you’re early retired, what do you do for health insurance?

How do you handle health insurance when traveling as an early retiree?

If you’re planning to early retire in the future, how important is health insurance coverage to your decision of timing when to early retiree?

Let me know by leaving a comment.

Don't miss an episode, hit that subscribe button...

If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes!

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I need your help, please leave a listener review :)

If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too!

Related links:

• About Tracy Winters
• Schedule a private 1:1 consultation with me
• HYW private Facebook community

Intro/Outro: Old Bossa by Twin Musicom.