11. Don’t Delay Applying for Medicare

Retirees who don’t apply for Medicare on time have to live out the rest of their retirement paying for it. If you miss the enrollment period you’ll be stuck paying a 10% penalty each month- forever! There is no escaping these extra fees, so pay attention and make sure you’ve signed up on time. By the way, these penalties also apply to Part B premiums.

So, when exactly can you apply? You have a seven month period, so the window of opportunity is pretty big. You can do this three months before you turn 65, during the month you turn 65 and three months after that.

Consider this an early, on time, or late birthday present for yourself during retirement!