Ray's Retire Right Report
Retire Right Retire Smart!
Raymond T. Martin, Retirement Coach and Medicare Planning
July 2025
Happy Independence Day! In honor of our nation’s founding, I’ve gathered a few historical tidbits to entertain you! July is "National Hot Dog Month"
July 23rd – 26th are "Hemmingway Look-Alike Days"
And July 31st is "Uncommon Instruments Awareness Day"
Hail to the (Short) Chief
In 1810 Sir Walter Scott, wrote a poem, “The Lady of the Lake”. The poem was made into a British stage play and a song written for that play provided the tune we know as “Hail to the Chief.” But the chief mentioned was Scottish folk hero, Roderick Dhu. In 1815, the song was given new lyrics and played to honor George Washington at the conclusion of the War of 1812. Thereafter it was played occasionally for other presidents, but it became a ritual at the insistence of First Lady Sarah Polk. Her husband, President James Polk, was just 5’ 8”. To avoid the embarrassment of his entering a crowded room unnoticed, his presence was announced with a drum roll and “Hail to the Chief”. Since then, a few unsuccessful attempts have been made to change the tradition. In 1954 it was officially established as the musical tribute to the U.S. President.
Every Independence Day, how many times does the Liberty Bell ring?
(See the Answer Area.)
What's the Medigap "Birthday Rule"?
Many Medicare Supplement (Medigap) carriers are implementing rate increases between 10% and 20% this year. This spike is largely due to the surge in elective procedures that were delayed during the pandemic and are now being completed, driving up claims and overall plan costs.
One tool that can help consumers manage rising premiums is the Medigap “Birthday Rule.” This rule allows policyholders in certain states to switch to another Medigap plan of equal or lesser benefits without going through medical underwriting. The window to make this switch typically opens around the enrollee’s birthday and lasts 30 to 60 days, depending on the state. This gives Medicare beneficiaries an annual opportunity to shop for better rates or customer service without being penalized for their health status.
It’s important to note that insurance carriers cannot raise premiums at will.Any Medigap rate increase must be submitted to and approved by the state’s insurance commissioner. This regulatory oversight is in place to help ensure that increases are justified and not excessive.
As of mid-2025, the following states have adopted a version of the Medigap Birthday Rule: California, Idaho, Illinois, Kentucky, Louisiana, Maryland, Nevada, Oklahoma, Oregon, Utah (effective May 7, 2025), Virginia (effective July 1, 2025), and Indiana (effective January 1, 2026). Several other states, including Michigan, Ohio, and Nebraska, are considering similar legislation. With rates rising and more states adopting consumer protections, now is a great time to review your Medigap options during your birthday month.
Traveler Travails
Actual complaints received from unhappy vacationers:
“The brochure stated, ‘No hairdressers at the resort.’ We’re trainee hairdressers and we think they knew and made us wait longer for service.”
“When we were in Spain, there were too many Spanish people there. The receptionist spoke Spanish, the food was Spanish. No one told us that there would be so many foreigners.”
“I was bitten by a mosquito. The brochure did not mention mosquitos.”
“The beach was too sandy. We had to clean everything when we returned to our room.”
“No one told us there would be fish in the water. The children were scared.”
“It took us 9 hours to fly home from Jamaica to England. It took the Americans only 3 hours to get home. This seems unfair.”
"A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort."
Herm Albright
Dollars and Cents
On July 6, 1785, the Continental Congress declared the monetary unit of the United States would be the dollar. Originally, it contained 375.64 grains of fine silver, patterned after the Spanish silver dollar. Thomas Jefferson proposed a decimal currency system for coin divisions of the dollar (.01 for cents, and .10 for dimes). This was favored because the 1/100-dollar coin would be similar in value to existing copper coins.
ASigners of the Times
The Declaration of Independence was signed by 56 men, the oldest was Benjamin Franklin at 70 years old, the youngest was Edward Rutledge who was just 26.
The word candidate comes from the word candidus which means “white.” In ancient Rome, political candidates symbolized their pure virtue by wearing white togas. The word candy is derived from the same root word, so named because it’s made from white sugar. The words candid (meaning open, frank, and sincere) and candle are related as well.
ABSCESS AMALGAM
APEX
BLEACHING
Visiting the Dentist
BRIDGE
INCISORS
Lyndon Jonson was the only U.S. president to be sworn in by a woman.
The Emmy award was originally called the Immy after the TV camera “imaging” tubes.
The average 4-year-old child asks 437 questions a day.
A bee has 5,000 nostrils. It can smell an apple tree that’s 2 miles away.
Charles Dickens traded the first story he ever wrote for a bag of marbles.
The White House was originally called the “Presidential Palace.”
A brown bear can run faster than a horse.
In the 1880s, waterskiing was known as “plankgliding.”
Siberian tigers, river otters and polar bears are all blind at birth.
Denver’s International Airport is larger than the entire city of Boston.
Goldfish have 50 more chromosomes than humans.
The two lines that connect the bottom of your nose to your lip are called the philtrum.
20% of drivers get 80% of the traffic tickets.
The Loch Ness Monster tourism adds$40 million a year to Scottland’s economy.
The animal with the highest worldwide output of farts is the termite.
The cable repairman was on my street and stopped to ask me the time. I told him it was between 1pm and 5pm
The Answer Area
Trivia Teaser: 13 times, once for each of the original colony.
Lori Verst
Craig Kennedy
Dave Hart
Keith McCarthy
Stan Salah
Joseph Martin Matt Leone Staff Directory
Joe Chow
Elliott Martin Mohan Martin Tessa Behr
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Beneficiary Designation: A Little Mistake May Result
During my many years as a Financial Advisor and Investment Coach, I’ve reviewed many beneficiary forms for 401ks, IRAs and life insurance policies. Even the smartest or wealthiest people commonly make basic but very costly mistakes when it comes to this fundamental decision – naming the beneficiary correctly
It’s usually because they are busy, uninformed or have an everythingwill-work-itself-out-just-fine attitude. If you think about it, the beneficiary designation is usually just one line on a mundane form. There are no red lettering or yellow highlighting which says:
"Hey! Do this right or there may be big problems!"
Nope. It’s just one question in a sea of questions. It’s no wonder I find so many problems with this issue.
When designating a beneficiary, you should never just jot down the first thing that comes to mind at that point in the application. And I highly recommend you review who you have listed as the beneficiary for the 401k, IRA, life insurance, annuity policies or bank accounts you already own!
Here’s a partial list of problems solved or benefits achieved with proper beneficiary designation.
Is your estate named as the beneficiary? If so, that negates one of the most valuable benefits that retirement accounts offer the ability to bypass a lengthy and very expensive probate process
Do you want to specify that your children can take the
in Huge Consequences!
I could go on to describe even more problems or possibilities with beneficiary designation but hopefully you get the point: there is much to know, and it is not a subject to treat lightly.
money out in a lump sum and pay taxes all at once or would you like them to stretch out their withdrawals so that their tax bill will be significantly lower?
Do you want your grandchildren (or future grandchildren) to inherit their parents (your child’s) share if their parent should precede them in death? Or, do you want it to go to your child’s spouse (their other parent)?
Is your 401k or IRA valued less than $250,000? If so, you are allowed to be very specific in your beneficiary language to make sure your life’s saving is passed on in the exact manner you desire (Review with a qualified advisor all the options and the exact wording to reach your objective.)
Is your 401k or IRA over $250,000? If so, it would be appropriate to meet with a qualified advisor about establishing an "IRA Dynasty trust". That allows a main trust to be divided into separate subtrusts for each beneficiary -conceivably saving tens of thousands of dollars in taxes on a large estate.
Just jotting down a name or two on the beneficiary line on your retirement account form is NOT the best way to pass on the largest asset besides your home. You should put some thought into this issue and get expert advice
If you have not evaluated this issue in the last two years then it is especially important that you don’t put off this task If you are not absolutely sure you have correctly designated the beneficiary on all your retirement accounts, please call me to set up a complimentary review Recent tax law changes could have a negative impact on your plans for a financial legacy of passing on your assets to your loved ones
BEFORE you make any financial move, call with your “Here’s what I’m thinking about doing…” as opposed to the dreaded, “Guess what I just did...” announcement! We offer a one-hour Complimentary Consultation.
Ray Martin is an Investor Coach and Investment Advisor Representative for Martin Wealth Management, LLC Schedule a phone appointment at www.SpeakWithRay.com or call (800) 464-4941 or email Ray@WeRetireSmart.com Registered Investment Advisor © 2025. All rights reserved.
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How can you plan for health AND wealth? (Page 2)
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What is the "Efficient Market Hypothesis" (It won a Nobel Prize for Economics!) and can YOU use it when picking a stock or mutual fund? (Page 12)
What are the totally-legal tax-savings strategies your CPA may never show you? (Page 24)
What are the "mind tricks" that sabotage portfolio self management? (Page 36)
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What are the 10 questions that you absolutely MUST consider for a stress-free retirement plan? (Page 54)
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