US Guide Hub: US Retirement Guide

  Turning 65 is an important Medicare milestone. For many people, it is the first time they must decide whether to enroll in Medicare Part A, Part B, prescription drug coverage, or a Medicare Advantage plan. Medicare enrollment is not automatic for everyone. Some people are enrolled automatically because they already receive Social Security or Railroad Retirement benefits, while others must actively apply. Missing the correct enrollment period can lead to coverage gaps and, in some cases, ongoing late-enrollment penalties. For a broader explanation of Medicare and Medicaid eligibility, read Medicare vs. Medicaid in 2026: Eligibility, Costs, and Asset Rules Explained . The Main Rule Your first Medicare enrollment opportunity is usually a 7-month Initial Enrollment Period centered on the month you turn 65. Do not assume that COBRA, retiree coverage, Marketplace insurance, or another private plan automatically allows you to delay Med...

  For many employees, a workplace 401(k) and an Individual Retirement Account (IRA) are the main tools for saving for retirement. You can use both in the same year, but they have different contribution limits, tax rules, investment choices, and withdrawal rules. A practical starting point is often to contribute enough to a workplace 401(k) to receive the full employer match, if one is offered. After that, an IRA may provide additional tax-advantaged savings and potentially more investment choices. The right order depends on your plan fees, employer match, income, tax bracket, emergency savings, and retirement goals. For a broader overview of how workplace accounts, IRAs, and Social Security can work together, see Social Security, 401(k), and IRA Coordination . Key Difference A 401(k) is offered through an employer. An IRA is opened by you with an eligible financial institution. A 401(k) generally has higher annual contribution li...