Question by shuki@pacbell.net: How can someone afford drug prescriptions after retirement?
My dad was employed at his job for about 30 years and had a good union with great heath benefits (health insurance and drug prescription medicine benefits). My mom is really sick and takes about 6 different prescriptions a month which are really expensive. Since my dad had benefits from his job had only had to pay a co-pay for the drugs. Now he retired and his job does not have retiree benefits. Is there any affordable way for my dad to get the drugs my mom need? She is already on medicare plan b but does not qualify for the prescription medicine part D. Any ideas?

Best answer:

Answer by Flower
Is your Dad on Medicare? If so he would have Part D which helps to pay for medications. If he has low income he can request Extra Help from Medicare to pay more toward the drugs.

If he is not on Medicare, some drug companies offer direct discounts online. Also Walmart is supposed to offer prescriptions but your Dad may have to get a generic if that is OK for him. So, contact the drug company for his meds and see if they have senior or low income discounts.

Why doesnt Mom get Part D. If she is in Original Medicare, she has to get Part D plan herself and shop around for it. Look at the Medicare website.

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Question by Tuan T: What are some good financial retirement plans for parents after passing on family business?
I am taking over the family business soon (Worth approx. 0,000)

My parents are worried on how they will still sustain financial freedom after passing on their company to me. It is primarily a cash business and I want for them to retire without having to worry about money. They have savings but nothing is in the bank. (Old Asian generation mentality)

I propose treating them like company board members that take a certain percentage from the business, while I keep the rest for expansion opportunities. What will be fair for both sides? Thank you.

Best answer:

Answer by Janet K M
In the U.S. this could part of “estate planning.” Even if you are not resident here, might try getting some of the info. As you are aware, there are tricky issues involving money, taxes, emotions….
I commend you for caring about taking care of your parents. “A certain percentage” sounds to me to be fair.

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Question by Tockers57: How will you fill your time after retirement?
Some people retire, sit back, do nothing and die in a couple of years. Do you have a plan or alternate way to keep yourself occupied after retirement? What is it?

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Answer by Her Majesty
I’m going to travel to as many countries as possible before I keel over.

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Question by Novice: what will be my (income) tax rate for 401K withdrawal after retirement?
Let’s say I’m 65 years old now, not yet retiring. My current income is about 0K, so my income tax rate is the highest (state & federal.)

In a few years, I will retire and plan to withdraw about K per year from my tax-deferred 401K account.

What will be my tax rate then?

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Answer by jorge a
idk i say u should call tiffs hes good wit taxes look in da phone book if u live on Long ISland

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Question by tiny_lil_hottie: why do so many older people take jobs at fast food restaurants after retirement?
i’m a little curious as to why someone who just retired from a great paying corporate job would take a job at say mcdonald’s or pizza hut after retiring…boredom? or is money the issue?

i don’t want my grandma to have to work if she doesn’t want to

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Answer by Sea Lion
Probably bored.

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