Have a Happy Thanksgiving!

Everyone at Sjoberg & Holmstrom Financial Services and Your Safe Money Show wish you and your family a Happy Thanksgiving! The office will be closed Thursday and Friday.

Thanksgiving Fun Facts

Fun Turkey Facts                                                   

The average weight of a turkey purchased at Thanksgiving is 15 pounds.

The heaviest turkey ever raised was 86 pounds, about the size of a large dog.

A 15 pound turkey usually has about 70 percent white meat and 30 percent dark meat.

The five most popular ways to serve leftover turkey is as a sandwich, in stew, chili or soup, casseroles and as a burger.

Turkey has more protein than chicken or beef.

Turkeys will have 3,500 feathers at maturity.

Male turkeys gobble. Hens do not. They make a clucking noise.

Commercially raised turkeys cannot fly.

Turkeys have heart attacks. The United States Air Force was doing test runs and breaking the sound barrier. Nearby turkeys dropped dead with heart attacks.

A large group of turkeys is called a flock.

Turkeys have poor night vision.

It takes 75-80 pounds of feed to raise a 30 pound tom turkey.

A 16-week-old turkey is called a fryer. A five to seven month old turkey is called a young roaster.

Definition of the Day November 27

Pension Plan:
A qualified plan designed to provide payments to an employee upon retirement. Pension plans comprise a yearly funding commitment from employers, no access to plan funds before retirement, and restrictions on investments in employer stock to ten percent.

Washington gridlock risks $7 milk

http://money.cnn.com/2013/11/26/news/economy/milk-farm-bill/index.html?iid=HP_MPM

Definition of the Day November 26

Tax-Deductible:
An amount of money deducted from the adjusted gross income of a taxpayer in order to calculate the total of taxable income. Medical expenses, paid mortgage interest, and charitable contributions itemized on Schedule A of federal income forms are examples of tax-deductible expenses.

Definition of the Day November 25

Period Certain:
An income option in an immediate annuity plan whereby the owner of the annuity contract may choose to receive periodic payments for a set period of time, with the payout amount determined by the contract's value and the length of the period of time chosen.

Highlights for Saturday's November 23 Your Safe Money Show

On this Saturday's Your Safe Money Show the "real rate of return" is different from the "annual rate of return" I'll explain what that difference is.I have some guidelines to use when loaning money to family members that might help you out in the long run. And 50 years ago November 22, 1963 President Kennedy was assassinated, we'll look back and make some comparisons to today

Consumer prices fell 0.1 percent last month

Cheaper gasoline lowered overall U.S. consumer prices slightly in October. But outside the steep drop at the pump, inflation stayed mild.The consumer price index fell 0.1 percent last month, down from a 0.2 percent increase in September, according to the Labor Department.

Definition of the Day November 21

Death Benefit:
The annuity benefit paid to a designated beneficiary when the annuity contract's owner dies.

Minnesota's unemployment insurance taxes drop

120,000 Minnesota businesses will pay lower unemployment insurance taxes at the beginning of 2014.
Minnesota firms pay a tax on the first $29,000 in annual wages for each employee, with the money going into a pool from which unemployed workers collect benefits.The tax rate moves depending on how many people are filing for unemployment, and the rate will be cut from the maximum 0.5 percent, to the minimum 0.1 percent, effective Jan.1. That was scheduled to happen in 2016 as fewer Minnesotans file for unemployment, but Gov. Dayton and the Minnesota Legislature agreed in the Spring to move the rate cut forward by two years.
Beginning in January, employers will also no longer have to pay an extra 14 percent tacked onto their total unemployment insurance tax bill. That assessment was added during the recession to ensure the state had enough money to cover unemployment benefits for all the people who lost their jobs. (Star Tribune Nov. 20)

Definition of the Day November 20

Rollover:
Refers to the monies from a qualified retirement plan or IRA (Individual Retirement Account) that are shifted from one plan to another plan of the same kind, maintaining the tax-deferred status of the funds.

Definition of the Day November 19

Cafeteria Plan:
An employee benefit plan that provides flexible dollars to be used by employees to pay for specific benefits from a list of choices, such as life insurance or health insurance, to put into a 401(k) plan or to use instead of a 401(k).

Highlights of Your Safe Money Show for Saturday November 16

There are some tax breaks that are ready to expire at the end of the year (unless the government steps in to extend them), and I'll tell you what those breaks are so you can still take advantage of them. Plus I look at inequality and income and what that means to you.

                                                                                

                                                                   

Definition of the Day November 14

Rollover:
Refers to the monies from a qualified retirement plan or IRA (Individual Retirement Account) that are shifted from one plan to another plan of the same kind, maintaining the tax-deferred status of the funds.

J&J reportedly agrees to $4B hip settlement

Johnson &Johnson has tentatively agreed to pay an estimated $4 billion to settle thousands of lawsuits filed by patients who were injured by a flawed all-metal replacement hip the company made, The New York Times reported.The tentative settlement, which is subject to court approval, represents one of the largest payouts in history for product liability cl;aims involving a medical device. A spokesman for the company's Depuy Orthopaedics unit declined to comment on the possibility of a settlement. The agreement will cover those patients who have already been forced to have the device, known as the Artticular Surface Replacement, or ASR, removed and replaced with another artificial hip, the Times said.citing anonymous sources.

Definition of the Day November 13

Treasuries:
A term that refers to all of the federal government's negotiable securities. Treasury bill (T-bills) have short-term maturities of three and six months and do not pay interest. Instead, they are sold at face value. Treasury bonds may be obtained in $1000 units and have maturities of ten years or more. Treasury notes have medium-term maturities of between one and ten years.

Definition of the Day November 12

Guaranteed Interest Rate:
The minimum interest rate an insurer will credit during an annuity contract's accumulation phase.

Highlights for Saturday November 9 Your Safe Money Show!

I'll be talking about the problems with the healthcare.gov website and with MNSure and give some tips to make it easier for you.If you're nearing retirement are you prepared "mentally" for the changes? A counseling psychology professor has some data on other retirees and what worked for them.

                                                                       

Definition of the Day November 7

Endowment:
An insurance policy that pays out its face amount to the individual insured when it reaches maturity, if that person is still alive. If the insured has died before the policy matures, the face amount is paid to a designated beneficiary.

Definition of the Day November 6.

Surrender Charge:
A penalty imposed by the insurer if the contract owner terminates the annuity prematurely, by withdrawing anything above the penalty free amount.

Corn Harvest Fattens Up Chicken Production (November 5)

The biggest-ever U.S. corn harvest is spurring poultry farms to expand chicken production, sending domestic supplies of the meat to a record and cutting costs for buyers from Costco Wholesale to McDonald's. Corn fell 50 percent from its peak during last year's U.S. drought, boosting profit for Tyson Foods and other poultry producers and expanding supplies of broiler meat the government says will reach a record this year and next.
(News Services)

Newsletter!

Hey be sure to check out the new November/December Your Safe Money Show Newsletter on the "Financial Materials" page on the website.

Definition of the Day November 5.

Tax-Deferral:
Refers to the fact that earnings from an annuity are not taxed until they are withdrawn from the plan.

Get Their Mitts Off Your Nest Egg Workshop!

Here's your last chance to be part of a workshop called "Get Their Mitts Off Your Nest Egg"! 

Tuesday November 5th at 10 a.m. at Dresser-Methven Funeral Home at 124 Maple Ave. in Mora.
 Also on Wednesday November 6th at 10 a.m. at Mille Lacs Funeral home on HWY 47 in Isle.
 There are a few seats left! You can reserve your spot at 877-812-0259 or  go to the contact us page here at the website.
The workshop normally lasts around 60 minutes. 
You will:
Learn how to reduce or eliminate paying taxes on Social security Income!
Learn how to insure against stock market declines and low interest returns from banks!
Learn about Safe Money Strategies!
Learn how to avoid probate and the associated costs!
Learn how to protect your assets from nursing home spend down!
Learn about medicare changes!
Nothing will be sold at this workshop! Leave the check books at home!

Highlights for November 2 Your Safe Money Show!

Listeners passed along some concerns they had about Social Security and income limits, and Medicare and Observation Days, so I'll answer those questions.Life insurance policies need to be reviewed periodically and this came to light recently with one of my clients, they were surprised to find out how changing policies saved them a bundle.

Definition of the Day November 1.

Withdrawal Charge:
A penalty imposed by the insurer if the contract owner cashes out part of the annuity prematurely. Withdrawal charges typically phase out according to a schedule, e.g., 10% before 3 year, 5% after 4 years, 0% after 5 years. Withdrawal charges may be waived in the event of death or illness.