East Rutherford native James Merklinghaus has lent some of his 30 years of experience as a financial services professional to help co-author a book on financial planning for retirement. ”People don't understand that they are going to be retiring and they are going to have to rely on the ups and downs of the market for a good 30 years”

When turning 65, we're faced with a health care choice, and it comes down to your desired “flavor” of Medicare. Making things harder, there are myths out there clouding the situation. Medicare as it's traditionally known includes Parts A and B. Part A is “brick and mortar” coverage, meaning visits to medical facilities, and is financed by taxpayer money via the government. Part B covers medical procedures and tests, and is also taxpayer-financed. There are other parts of Medicare, but these two form the foundation. 

Think Advisor

Dateline: New York, NY 

...“They usually have no idea they're in closed networks [HMOs] of doctors and hospitals,” said Jim Merklinghaus of JBM Financial. “Advantage plans are attractive from the onset, but once customers need coverage, they're often disappointed.” 

Whether you’re nearing retirement age, have a significant disability or are struggling to meet your basic needs, you may be entitled to Social Security. This federal program includes several different components that can provide valuable financial assistance regardless of your age. Here’s what you need to know about eligibility and how to claim your benefits.