The Uncommon Path – December 2nd Edition

Lori and David Thanksgiving

The Uncommon Path

Plan Wisely | Retire Well | Travel on Your Terms


In this issue…
  • The 10-Year Treasury yield has increased by 1% or more fourteen times in the last 70 years – here’s how the stock market performed
  • My COVID-19 Travel Resource Guide for 2022
  • An incredibly valuable tool that will show you how to best use your points and miles to get the most out of travel
  • Are you using the Hopper app? You should be

…and more!


Lori and David Thanksgiving

I hope everyone had a fantastic Thanksgiving. The pic above is Lori and I preparing for our airplane adventure. More to come next week about our trip to Oklahoma. 

Just when the coast looked clear for 2022 to be a year filled with long-delayed travel, Omicron decides to ruin the party. It’s too early to tell whether this will be a slight hiccup on our way through this pandemic, or something more serious.

The stock market certainly wasn’t a fan of the news about a new variant as companies with economic sensitivity dropped this week. However, to keep it in perspective the S&P 500 is only down 4% from its highs as I write this. 

Safe Travels,

David


Travel

Now, more than ever, travel information is crucial when planning a trip and while you’re traveling. I couldn’t find a good resource that compiled all of this information, so I created one. I just completed an update: Coronavirus Travel Advice – a Resource Guide for 2022.

If you’ve ever wondered how to best use your points or miles, Nerdwallet has put together an extremely useful tool that will show you exactly what to do. Should you transfer your points to another airline for the best deal? Which airline has the most attractive rewards chart for your destination? I highly recommend you check out this valuable resource.  

Are you using the Hopper app? If not, you should be. I’m always on the lookout for new websites or apps to reduce the cost of travel and I’m surprised at how often Hopper has the best flight/hotel prices. The app will also alert you if it thinks prices will decline or if you should buy right away. 


Retirement

Greece – the food, the history, the weather, and that Mediterranean lifestyle. What’s not to like? Have you considered Corfu or Crete? Maybe you should? Here’s an article that highlights the benefits of both locations. 

If you’re a connoisseur of retirement books like me, you’ll appreciate this fantastic “best of” list put together by retirement expert Fritz Gilbert.  


Investing

The 10-Year Treasury yield has increased by 1% or more fourteen times since 1950. Here’s how the stock market performed.


Did you miss the last issue of The Uncommon Path? If so, you have a second chance to catch up on:

  • You can contribute more money to your 401k in 2022!
  • There’s a new premium travel rewards card from CapitalOne
  • Want to retire abroad? Here’s an article with some unusual locations
  • The best travel books of 2021

Prefer to receive my newsletter in your inbox?

You’ll not only be signed up for my newsletter which is published twice a month, but you’ll also get a PDF that shows you exactly what a comprehensive retirement plan for people who love to travel is all about. Thanks for reading!

 

 
 
  • *Privacy policy: your email address is safe, and you will never receive SPAM.


    Financial Advisor David Tuzzolino

    David Tuzzolino, CFA, CFP®, is the Founder and CEO of PathBridge Financial, a firm that specializes in providing comprehensive financial planning and investment management services for clients that are nearing retirement and love to travel.

     

     

    The Uncommon Path – November 18th Edition

    Thanksgiving Cranberry Sauce

    The Uncommon Path

    Plan Wisely | Retire Well | Travel on Your Terms


    In this issue…
    • You can contribute more money to your 401k in 2022!
    • There’s a new premium travel rewards card from CapitalOne
    • Want to retire abroad? Here’s an article with some unusual locations
    • The best travel books of 2021

    …and more!


    Nothing screams Thanksgiving to me more than turkey dinners in Cambodia. The period in my life when I first discovered my love of travel was often spent on the road: the further and more exotic the location, the better.

    Sidebar – A travel hack for anyone in the corporate world where management might frown upon a two-week absence – travel over Thanksgiving. It is really more like a one-week vacation in your boss’s eyes as no one is in the office Thanksgiving week anyway.

    There are other memorable Thanksgivings in my life, including when I was just a kid, and my mom tried to sneak cranberry sauce made from real cranberries onto the table, skins and all. I rejected this act of betrayal and ensured that my beloved, jellied cranberry, can shape intact, was always present on future turkey days.

    Post-pandemic Thanksgiving will produce its own memories. Some, probably not so good. I’m visualizing packed airports filled with masked travelers on tight schedules dealing with under-staffed airlines. But after a year filled with disruption and families spending holidays apart, this feels like a Thanksgiving that should revolve around family even more than normal.  

    I’m looking forward to welcoming back family traditions and adding some good memories as well. I hope you have the chance to be with the ones you love this holiday. I hope you have the opportunity to make some memories you can look back on fondly.

    So whether you’re taking a picture of a chalkboard menu in southeast Asia to show medical professionals precisely what you ate in case of food poisoning or happily trying to extract canned cranberry in a way that keeps the can-shape intact – I hope you have a Happy Thanksgiving!

    Safe Travels,

    David


    Travel

    Are you interested in seeing a map with the cheapest places to fly from Pennsylvania to destinations around the globe? You’ll spend half your day wondering why the cheapest flight from Pennsylvania to the Middle East lands you in Tbilisi, Georgia.
     
    There’s a new premium travel credit card from Capital One. Everyone values perks and rewards differently, so this card might fit nicely into your wallet. However, I don’t see it displacing my go-to travel cards in the Chase Sapphire family.

    Are you looking for a Christmas gift for the traveler in your life?  The Washington Post has released a list of its best travel books of 2021.


    Retirement

    Do you have a 401k or 403b? You’re in luck as the contribution limits for 2022 have gone up to $20,5000 from $19,500. If you include the catch-up contribution for investors over 50, you can now save a total of $27,000 per year. This release by the IRS also contains information about the new phase-out ranges for contributions. Unfortunately, IRA limits remain unchanged.

    There’s no reason to wait. Increase your eligible retirement plan contributions, so they take effect at the beginning of 2022.
     
    I like this article about retiring abroad because it is written for a U.K. audience and contains some exotic locations beyond the standard countries that are discussed frequently in the U.S. Have you considered retirement in Malta? Malaysia? Maybe you should? 


    Did you miss the last issue of The Uncommon Path? If so, you have a second chance to catch up on:

    • Three ways to reduce your Pennsylvania taxes  
    • What stock selection factors work best in an inflationary environment
    • A year-end financial planning checklist that’s worth your time
    • There are billions of miles the airlines would like to devalue; use yours before it happens

    Prefer to receive my newsletter in your inbox?

    You’ll not only be signed up for my newsletter which is published twice a month, but you’ll also get a PDF that shows you exactly what a comprehensive retirement plan for people who love to travel is all about. Thanks for reading!

     

     
     
  • *Privacy policy: your email address is safe, and you will never receive SPAM.


    Financial Advisor David Tuzzolino

    David Tuzzolino, CFA, CFP®, is the Founder and CEO of PathBridge Financial, a firm that specializes in providing comprehensive financial planning and investment management services for clients that are nearing retirement and love to travel.

     

     

    The Uncommon Path – November 4th Edition

    Santorini Greece

    The Uncommon Path

    Plan Wisely | Retire Well | Travel on Your Terms


    In this issue…
    • Three ways to reduce your Pennsylvania taxes  
    • What stock selection factors work best in an inflationary environment
    • A year-end financial planning checklist that’s worth your time
    • There are billions of miles the airlines would like to devalue; use yours before it happens

    …and more!


    Santorini Greece

    Santorini, Greece

    I’ve got a long list of places I’d like to visit in the next few years and Santorini, Greece is near the top. It’s hard to capture the island’s beauty in one picture, but this one does a pretty good job. I’ve been once before, and I’m ready to return.


    Last week I completed an article titled – “Three Ways to Reduce Your Pennsylvania State Taxes and Save More Money.” As important as it is to reduce federal taxes, don’t forget your state tax burden either. Pennsylvania has several tax quirks that can cost you money if you’re unaware of them.  

    If you haven’t rebalanced your portfolio lately, now’s a good time. U.S. stocks have performed well this year and your international and emerging market holdings may be underweight. It might seem like this outperformance will last forever, but snapbacks can be rapid and brutal.

    David


    Travel

    Uruguay is a South American country that doesn’t get a lot of publicity like it’s more famous neighbors, Argentina and Brazil. My knowledge of the country is next to zero, although I’m aware they have a competitive team at the World Cup every four years. This article on Uruguayan food caught my eye, describing it as South American staples with an Italian influence.  

    If you have an interest in flying and miles, JT Genter is a writer you must follow. In this recent article he gives us a timely reminder that while the worldwide pandemic has raged, airline miles have grown rapidly, and the airlines are sitting on a huge liability. Expect devaluations to come sooner rather than later. Here’s what to do about it before it happens.


    Retirement

    Another plug for my article – it’s worth a read if you’d like to save on Pennsylvania taxes when it comes to Roth conversions, the PA 529 program, and capital losses.

    I’ve scoured the internet to find an excellent financial planning year-end checklist and this one delivers. The quick read is worth your time as the end of the year nears, especially as some opportunities disappear as soon as the ball drops.  


    Investing

    The article on inflation in the last edition of the newsletter was a hit, so when I came across this inflation research by respected money managers O’Shaughnessy Asset Management, I knew I had to include it. Enjoy.


    Did you miss the last issue of The Uncommon Path? If so, you have a second chance to catch up on:

    • A list of the best performing investments during inflation
    • The reasons a Health Savings Account is so powerful
    • The travel search engine I’ve been looking for all my life
    • Pittsburgh’s role in the birth of bourbon and my adventures on the bourbon trail

    Prefer to receive my newsletter in your inbox?

    You’ll not only be signed up for my newsletter which is published twice a month, but you’ll also get a PDF that shows you exactly what a comprehensive retirement plan for people who love to travel is all about. Thanks for reading!

     

     
     
  • *Privacy policy: your email address is safe, and you will never receive SPAM.


    Financial Advisor David Tuzzolino

    David Tuzzolino, CFA, CFP®, is the Founder and CEO of PathBridge Financial, a firm that specializes in providing comprehensive financial planning and investment management services for clients that are nearing retirement and love to travel.

     

     

    PathBridge Financial Newsletter – October 1st Edition

    Portugal

    The Path Ahead

    Plan Wisely | Retire Well | Travel on Your Terms


    In this issue…
    • One of the most important things you can do for the health of your retirement portfolio is rebalance now
    • Win the ex-pat life for a month in Portugal (pictured above), expenses paid – here’s how to apply
    • 10 life-changing world tours to add to your bucket list
    • Who wins? Chase Ultimate Rewards Vs. American Express Membership Rewards

    …and more!

    If you’re in Pittsburgh, I highly recommend a trip up to McConnell’s Mill State Park. Get there early and you’ll have the place almost to yourself. I shot this video last fall. 


    Fall is one of my favorite seasons as I enjoy weather where I can wear a henley without a coat, leaves start to change color, and I have an excuse to make chili – often. Here at PathBridge Financial, I am doing reviews with all ongoing financial planning clients and rebalancing portfolios. Not a client? It’s still a good time to review your goals, asset allocation, and financial progress over the last year.

    International travel has been put on hold for me, but I enjoy hearing travel stories from clients who are a bit more adventurous than myself. However, all is not lost as I have a Louisville, KY trip planned, which includes a day on the infamous bourbon trail. The perfect fall activity.

    I also will do my best to hit McConnell’s Mill State Park to catch some quality foliage. For everyone that lives in Pittsburgh, the park is about an hour north of the city. It’s a fantastic place to hike year-round, but it is elevated to another level of spectacular in the fall. Take a look at the video I shot last year above. You hike through a forest alongside a rapidly running stream while navigating huge rocks that look unworldly as multi-colored leaves rain down. There’s also a red, covered bridge you can drive/walk through that belongs on a postcard. I highly recommend the trip, and if you get there before 9-10 am, you’ll have the place mostly to yourself.

    Safe Travels,
    David


    Travel

    I’m sharing this next link under one condition. If you win, I’m coming to visit! International Living is looking for one lucky winner (or couple) to test out the ex-pat life in Portugal for a month. They will fly you there, pay for your accommodations, and give you “a generous expenses allowance.” The catch? You have to report back about your experience. It appears that much of your reporting back will involve some short videos. If you’re a natural in front of the camera and looking for an adventure, here’s the link. Good luck!

    Some of the exotic, “life-changing” trips featured in this article from Travel Curator: Around the World in 80 Days, Flavors of the World, and Wildlife of the World. There’s something for everyone in this eclectic list that will certainly stir your wanderlust and have you dreaming about what could be.

    I often find myself recommending one of the Chase Sapphire cards to clients, but this article is a reminder that one size doesn’t fit all.  Chase Ultimate Rewards vs. AmEx Membership Rewards – the winner? It depends.


    Retirement

    Here is a fantastic article from Morningstar on the importance of rebalancing your portfolio. It was written in March of 2020 when global pandemic fear was high among investors and stocks were trading near their lows. The timing was exceptional, and investors that followed the article’s advice were well-rewarded as they increased stock positions and then watched stock markets around the world rebound strongly.

    I will soon begin rebalancing portfolios for all ongoing clients, and doing it now may be just as important as it was in March of 2020. The dramatic returns of the U.S. stock market over the last year and a half have created overweight positions in equities, especially in U.S. large-cap technology stocks. When meeting with new clients, I repeatedly see portfolios dangerously overweight with large-cap technology holdings. Never forget – the market often drops much more quickly than it goes up, so now is not the time to disregard your desired asset allocation and risk tolerances. Now is the time to rebalance and diversify. 


    Did you miss the last issue of The Path Ahead? If so, you have a second chance to catch up on:

    • The best fall foliage map I could find

    • The types of investments you should put in each account

    • 21 new direct flights from Pittsburgh

    • How to reduce your taxes by superfunding a 529 plan


    Prefer to receive my newsletter in your inbox?

    You’ll not only be signed up for my newsletter which is published twice a month, but you’ll also get a PDF that shows you exactly what a comprehensive retirement plan for people who love to travel is all about. Thanks for reading!

     

     
     
  • *Privacy policy: your email address is safe, and you will never receive SPAM.


    Financial Advisor David Tuzzolino

    David Tuzzolino, CFA, CFP®, is the Founder and CEO of PathBridge Financial, a firm that specializes in providing comprehensive financial planning and investment management services for clients that are nearing retirement and love to travel.

     

     

    Welcome to the new PathBridge Financial Newsletter!

    The Path Ahead

    Plan Wisely | Retire Well | Travel on Your Terms


    In this issue…
    • The best fall foliage map I could find
    • The types of investments you should put in each account
    • 21 new direct flights from Pittsburgh
    • How to reduce your taxes by superfunding a 529 plan

    …and more!

    Mont-Saint-Michel – designated a UNESCO World Heritage site in 1979. This French, part-time island is equal parts medieval fortress, architectural oddity, and natural wonder. I’ve been intrigued for decades, and hopefully, I’ll be here next spring if all goes well.


    And finally…

    …welcome to the long-delayed PathBridge Financial newsletter. Titled – The Path Ahead!

    I know what you’re thinking – “Why should I care?”

    My goal is a twice-a-month newsletter that is equal parts entertaining and informative. I’ll cover travel, retirement, investing, personal finance, and news about me and the firm. The newsletter will contain original content and I’ll share the best books, articles, videos, podcasts, and more that I come across. 

    Please let me know if there’s anything you like, dislike, or want to see in the future. All feedback is appreciated. Thank you for your time.

    David


    Travel

    Parts of the country are already entering peak foliage season. Here’s a link to the best map I’ve found on the internet. It allows you to change the date to see when peak season will be near you.

    COVID sucks, but – “The pandemic did not quench the thirst for air travel.” New, direct flights were added nationwide as airlines moved away (at least temporarily) from their hub-and-spoke system. Pittsburgh added 21 new routes, and this map shows you each one. I hope this is a change that has staying power.

    I always take notice when another financial advisor talks about travel, especially when it’s one as respected as Benjamin Brandt. His podcast – Retirement Starts Today Radio – has a new episode out on Bucket Lists. It covers how to budget for a trip and how to focus on experiences you value. The podcast is a breezy 25 minutes. 


    Retirement

    When it comes to funding a 529 Plan to save on taxes, go big and go early! There is an option to superfund 529 plans where a couple can deposit up to $150,000 at one time. Do this early on and you’ll have many years of tax-free growth. Another benefit is certain states don’t tax contributions. For example, Pennsylvanians will avoid the 3.07% state tax. Here’s a brief overview. 

    One of the most common questions I get from clients is –  “What type of investments should go into my different retirement accounts?” Determining what type of account should hold different asset classes is a balancing act between tax efficiency, expected return, and holding period. Below is the asset location “Smile” as created by Michael Kitces. And here is an in-depth article on everything you need to think about when making this critical decision.   


    Prefer to receive my newsletter in your inbox?

    You’ll not only be signed up for my newsletter which is published twice a month, but you’ll also get a PDF that shows you exactly what a comprehensive retirement plan for people who love to travel is all about. Thanks for reading!

     

     
     
  • *Privacy policy: your email address is safe, and you will never receive SPAM.


    Financial Advisor David Tuzzolino

    David Tuzzolino, CFA, CFP®, is the Founder and CEO of PathBridge Financial, a firm that specializes in providing comprehensive financial planning and investment management services for clients that are nearing retirement and love to travel.

     

     

    Does My Health Insurance Cover International Travel?

    Passport on a blue suitcase

    Planning an international trip is an exciting experience. Where to go? What to do? Where to stay? However, overlooking vital questions about safety, logistics, and money, is a mistake.

    One critical question you must ask – Will my health insurance cover me? Like most things in personal finance, it depends. I’ve laid out the different scenarios below for your review.

    Pre-Medicare:

    If you are too young for Medicare, you likely have a policy through your employer, the Health Insurance Marketplace, or a private insurance company. Each policy will be different, so I recommend locating your policy documents to review and your insurance company’s customer service number to investigate any questions you may have.

    Emergencies:

    You should be covered for medical emergencies in another country. However, you must check with your insurance company before you leave to verify. Even if you’re covered, there will most likely be differences between receiving care at home and internationally.

    Check your policy for exclusions based on travel destination or activity. If you plan to go skydiving in a war-torn country, a standard health insurance policy will not cover you. Also, check for any additional exclusions that may be contained in your policy.

    Your insurance provider will want to be contacted as soon as possible by you or a travel companion if there is an emergency. Often within the first 24 hours, so carry their number with you.

    Expect to pay for emergency services out of pocket in a foreign country. Your insurance company will then reimburse you for all covered expenses at a later date.

    If you are taking an extended international trip, check how long your coverage will last. It will not be an infinite amount of time. A quick look at my health insurance policy shows coverage for the first 90 days of travel.

    If your health insurance coverage is inadequate in any area, add supplemental insurance. If you have a travel credit card, it may offer some coverage. As always, read the fine print.

    You can also buy a separate travel health insurance policy. Decide whether you need a primary or a supplemental plan and for how long you will need it. Insurance can be purchased for a single trip, multiple trips, or on a continuous basis. Before buying, check for the same exclusions discussed earlier. Some policies cover pre-existing conditions, and some do not. You can decide whether this is important to you, but make sure the policy’s terms meet your needs. Also, if you’re concerned about pandemics, make sure they are covered.

    If you want to compare travel insurance plans, the Point’s Guy website has a list of recommended insurance providers that is frequently updated. Shop for policies based on fit, reputation and financial strength of the policy writer, and price.

    American Express Travel Insurance has a nice feature where you can customize a policy to meet your insurance needs. For example, you can obtain travel health insurance without paying for other types of coverage you may not need, such as trip cancellation or baggage protection.

    Non-Emergencies

    Your U.S. health insurance will most likely not cover you for non-emergencies in a foreign country. Always check your policy or call your insurance company to get the details.

    Even if your health insurance does not cover an in-person visit with a doctor in a non-emergency situation, it might offer telehealth services. These services are convenient and becoming more common, fueled by the COVID-19 pandemic.

    Telehealth patient consults with a doctor online

    An added bonus of using remote services is you can sometimes speak with your doctor back home, who knows your medical history. A U.S. doctor can send a prescription to a foreign country such as Canada in some instances. Or your doctor can recommend a drug where a prescription is not needed.

    Each country has its own rules and regulations regarding health care. In some countries, pharmacists can write prescriptions or recommend over-the-counter options. Other alternatives are clinics or a visit with a local doctor. Foreign health care costs can vary widely depending on the country, so always ask about prices before receiving treatment in a non-emergency situation.

    If you have a travel insurance plan, the company will have a phone number for you to call. The company will help you receive the medical care you need and make a stressful situation better by organizing your care. It may make your life much easier if your first step is to call your travel insurance provider.

    Medicare

    Emergencies

    Original Medicare will not cover you when traveling outside of the U.S. unless you find yourself in a few narrowly-defined situations. Medicare Advantage plans may offer coverage, but this is dependent on the policy you have – check your paperwork. Some Medigap plans will cover you while traveling during your first 60 days. Be careful, though, as not all Medigap plans offer international coverage, and there is a lifetime limit of $50,000 for those that do. Expect to be reimbursed for emergency care after the fact.

    If you need supplemental insurance, there are many travel health insurance options, including ones specifically targeted to seniors using Medicare. The travel insurance alternatives discussed earlier apply here as well. These policies are critical for international travelers that aren’t covered by their regular health insurance or will be traveling past their plan’s cut-off date.  

    Non-Emergencies

    The non-emergency information discussed previously applies to travelers on Medicare as well. Access to health care becomes even more important the older we get, so Medicare participants should take extra care to ensure there are no holes in their coverage when traveling.  

    Medical Evacuation

    I want to highlight the importance of medical evacuation insurance. It can be part of a travel insurance policy or can be purchased on its own. Medical evacuation insurance covers the cost of getting you to a medical facility for treatment in the case of an emergency. Some plans also cover transportation home once you are stable, which can be of significant importance when traveling internationally. Make sure the policy you choose includes the exact coverage you want.

    A medical evacuation can be expensive. It can run well over $100,000, and the more remote your location, the more costly an evacuation can be.

    Yellow medical helicopter

    Unlike some less-important parts of travel insurance that might cover inconveniences such as lost luggage or a trip delay, medical evacuation insurance can help you avoid a catastrophic blow to your health and finances.

    Medical evacuation insurance is included in some travel insurance policies. It is also a perk offered in some higher-end credit cards marketed to travelers. If neither of these options suits your needs, stand-alone medical evacuation policies are available for either a single trip or on an annual basis.

    As with all types of insurance, read the fine print. Make sure you are comfortable with the limits on your medical evacuation policy. Understand the conditions for when it will kick in and who makes the decisions on where you will be transported. Policies often have exclusions on locations, activities, and pre-existing conditions, so be aware of these limitations and find a plan that will cover your unique situation.

    Summary

    Don’t assume your health insurance will transfer seamlessly to international travel. Fill in any gaps in your coverage through travel health insurance that meets your needs. Don’t forget medical evacuation insurance, especially if you travel to a destination with poor health care facilities or is remote. As always, check each policy you are considering carefully, ensuring you understand the benefits and exclusions that apply.


    Your questions about planning for retirement and travel answered. Where to go? What to do? How to plan it? How to afford it?

    You’ll not only be signed up for my newsletter, but you’ll also get a PDF that shows you exactly what a comprehensive retirement plan for people who love to travel is all about. Thanks for reading!

     

     
     
  • *Privacy policy: your email address is safe, and you will never receive SPAM.

    Financial Advisor David Tuzzolino

     

    David Tuzzolino, CFA, CFP®, is the Founder and CEO of PathBridge Financial, a firm that specializes in providing comprehensive financial planning and investment management services for clients that are nearing retirement and love to travel.

    Does My Health Insurance Cover Travel to Another State?

    Does My Health Insurance Cover Travel to Another State?

    There’s no better way to clear a room than to start talking about health insurance. However, it becomes a little more interesting when your health is at risk, and it’s desperately needed. This article is the first in a series that covers health insurance for travelers. I’ll explore scenarios that range from the occasional U.S. vacationer to long-term ex-pat and explain what type of insurance you’ll need in each instance.

    Vacations in the U.S.

    Pre-Medicare:

    If you are younger than 65 and have health insurance, it will most likely be through your employer, the Health Insurance Marketplace, or a private health insurance company. It’s always smart to check your policy before a vacation to verify you’re covered at your destination. I’ll try not to harp on this recommendation repeatedly, but each insurance policy is different, and you must refer to it for any questions you might have. I know reading through an insurance policy is the equivalent of chewing tinfoil, but it’s necessary. If you want to save time, call your insurance company’s customer service line and ask them any question on your mind – but if you’re paranoid like me, make sure they point you to the wording in your policy that confirms their answers.

    Emergencies:

    The good news is your health insurance policy should cover you in the case of an emergency as long as you are in the U.S. or its territories. HealthCare.gov defines an emergency as – “An illness, injury, symptom or condition so serious that a reasonable person would seek care right away to avoid severe harm.” All health care policies in the U.S. should have similar language.

    Sometimes you might get a surprise bill after receiving emergency treatment out of state.

    Surprise Bill Balance Billing

    This occurs when your insurance company is unwilling to pay the entire amount charged for the services you received. This procedure is called balance billing, and it happens approximately 20% of the time in emergencies. The good news is recent legislation has eliminated it starting in 2022.

    Supplemental travel insurance can be purchased if you are concerned about receiving an unexpected bill before the law changes. You might also be covered for accidents through your travel credit card – check your agreement.

    There are currently state laws that apply to balance billing, and you can find state-by-state information here. Your state may outlaw the practice. If your state lacks legislation and you experience balance billing, there are steps to reduce or eliminate the bill you can find here.

    Non-Emergencies:

    Your coverage area for non-emergency health care will be outlined in your insurance policy. Your service area is often limited to your state or region. These restrictions shouldn’t be a major concern to the occasional traveler worried about being covered in an emergency.

    The COVID-19 pandemic has been a miserable experience, but a silver lining is improved telehealth technology and availability. You may be able to jump on a video conference with your doctor, receive a diagnosis, and even obtain a prescription, depending on state laws. Check with your health care provider for options.

    Medicare:

    Once you turn 65, you’re eligible for Medicare. Luckily, your situation simplifies as long as you remain in the United States.  

    Emergencies:

    Original Medicare and Medicare Advantage plans will cover you in an emergency throughout the U.S. and its territories. However, if you’re going on a cruise, consider supplemental insurance even if you’re staying in U.S. territorial waters.

    Non-Emergencies:

    As long as you visit doctors and hospitals that accept Medicare, you are covered in the U.S. and its territories for non-emergency care when traveling. Medicare also covers telehealth services if you’d like to work with your doctor from home.

    Summary

    Before traveling, check your health insurance policy and make sure you’re covered in your destination. Any holes in coverage can be filled with a travel insurance policy or potentially with your credit card. It also makes sense to familiarize yourself with the telehealth services offered by your doctor.


    Your questions about planning for retirement and travel answered. Where to go? What to do? How to plan it? How to afford it?

    You’ll not only be signed up for my newsletter, but you’ll also get a PDF that shows you exactly what a comprehensive retirement plan for people who love to travel is all about. Thanks for reading!

     

     
     
  • *Privacy policy: your email address is safe, and you will never receive SPAM.

    Financial Advisor David Tuzzolino

     

    David Tuzzolino, CFA, CFP®, is the Founder and CEO of PathBridge Financial, a firm that specializes in providing comprehensive financial planning and investment management services for clients that are nearing retirement and love to travel.

    Adios 2020 – 5 Lessons, Best Travel Photos of the Year, and a Rollercoaster on a Cruise Ship? – Links

    Path bridge snow

    It’s the end of 2020, not what I was expecting when I rang in the New Year. My way of life changed dramatically for the worst in some ways, as traveling came to a halt and I grew a terrible beard. However, financially I’ve never looked better as the stock market soared and my spending dropped drastically. (It’s amazing how good your budget can look when you don’t go anywhere.) Unchanged, was my business, which didn’t miss a beat as I can work from anywhere with little adjustment. I realize this isn’t possible for everyone, and I feel very fortunate. Lastly, and most importantly, my health and that of my family is good.

    I’d prefer 2021 to be a bit more festive. I’m looking forward to some second-half of the year travel assuming vaccines go as planned. I have some canceled vacations I’d like to bring back to life and some family members I’d like to hug. That’s enough of my rambling…

    I hope everyone has a very happy New Year! 


    Retirement

    If you’re not following me on LinkedIn, now’s your chance! I’ve put together some new content and my intentions are to post daily (if I can keep it up) about planning for retirement and travel. I’ll attempt some humor along the way to try and keep it from being stuffy and just another financial planning lecture. Here’s my profile where you can connect. 

    5 Things We Learned About Retirement Planning and Travel in 2020 – (PBF)

    The old saying goes – “No sailor learned anything in calm seas.” Given 2020 was the equivalent of a hurricane, here are the most important lessons of the year.


    Travel

    Comprehensive article on how 2021 might look in terms of travel – (NY Times)

    The article goes in-depth into international travel, spending time on a cruise ship, traveling with children, business trips, and more. It will make you think about all the possible issues that might arise. It’s much more complex than get a vaccine – jump on a plane to Europe.

    Best travel photos of 2020 – (Worlds Nomads)

    Dreaming of travel in 2021? These travel photos of 2020 will get you in the right frame of mind.

    The newest cruise ship from Carnival – (Bloomberg)

    It may be a while, but at 1.5 times the size of Carnival’s next largest ship, it will be worth the wait. My guess is the Mardi Gras will be filled and collecting premium prices from cruisers within a year or two. Honestly, how do you pass up the chance to ride a roller coaster on the top of a cruise ship?


    Your questions about planning for retirement and travel answered. Where to go? What to do? How to plan it? How to afford it?

    You’ll not only be signed up for my newsletter, but you’ll also get a PDF that shows you exactly what a comprehensive retirement plan for people who love to travel is all about. Thanks for reading!

     

     
     
  • *Privacy policy: your email address is safe, and you will never receive SPAM.

     

    Financial Advisor David Tuzzolino

    David Tuzzolino, CFA, CFP®, is the Founder and CEO of PathBridge Financial, a firm that specializes in providing comprehensive financial planning and investment management services for clients that are nearing retirement and love to travel.

    A First-Hand Account of Quarantining Caribbean Island Style, 7 Ways to Find Free Money, and More! – Links

    A stone Path Bridge in Central Park covered in snow

    If you find yourself with some free time this holiday season, there’s no better way to spend it than looking for some “Sidewalk Money”. Meb Faber walks you through seven ways you might be able to find some serious coin. While not as lucrative, I’ve included an additional half dozen articles that should be worth your time. I won’t be back with more links until after Christmas, so if you’re celebrating…Merry Christmas!


    New Graduates

    7 Financial Tips for College Grads in 2020 – (PBF)

    It’s the time of year for newly-minted college graduates. If you have one in your life, they may be wondering where to begin financially. Here’s an article highlighting seven tips that will benefit all graduates.


    Retirement

    Instead of drinking a fourth glass of egg nog this holiday season, consider spending an hour or two searching for “Sidewalk Money” – (Meb Faber)

    Meb presents 7 ways to find “free money”. Most take 15 minutes or less. What have you got to lose? I’ll tell you what you’ve got to lose – nothing!

    The pandemic is another reason to expect an earlier “retirement” then planned – (Forbes)

    Putting together a comprehensive financial plan with a retirement plan of 65 sounds like a fantastic idea. But what happens when a pandemic, ageism, or health issues smack you in the face and retirement comes sooner than expected? When planning it’s always a good idea to move your expected retirement age forward a few years to account for unpleasant surprises. It also puts you in a position to accept a generous early retirement package if it comes along.

    Lessons learned from three years of retirement – (CanIRetireYet?)

    “You won’t do it in retirement if you’re not doing it now.”


    Travel

    Want to quarantine on a Caribbean island? – (CondeNastTraveler)

    Here’s how to do it in a resort on the island of Grenada, at a hotel which…refers to quarantining there as “vacationing in place.” A hotel room in paradise is a fantastic place to quarantine – until it isn’t. 

    Trips you may want to book a year in advance – (ThePointsGuy)

    Safaris, French Polynesia, a cruise to Antarctica…all vacations you should consider planning a year in advance. My guess is that bucket-list travel will be in high demand once it is safe to travel again. You might want to prepare in advance, just make sure everything is fully refundable.


    Podcasts

    Top podcasts of 2020 compiled by The Idea Farm– (Spotify)

    If you’ve got some holiday downtime and you enjoy listening to podcasts about markets, investing, and general business ideas – this is the list for you!


    Your questions about planning for retirement and travel answered. Where to go? What to do? How to plan it? How to afford it?

    You’ll not only be signed up for my newsletter, but you’ll also get a PDF that shows you exactly what a comprehensive retirement plan for people who love to travel is all about. Thanks for reading!

     

     
     
  • *Privacy policy: your email address is safe, and you will never receive SPAM.

     

    Financial Advisor David Tuzzolino

    David Tuzzolino, CFA, CFP®, is the Founder and CEO of PathBridge Financial, a firm that specializes in providing comprehensive financial planning and investment management services for clients that are nearing retirement and love to travel.