Happy New Year!

I want to wish you and your family a Happy New Year and look forward to serving you in 2014!

Highlights for Saturday December 28 Your Safe Money Show

We have so much to look forward to in 2014 and I talk about guests and workshops in January. We've been talking about inheritances and this week I get into heirlooms and keepsakes and I have tips on how to distribute items and keep from having hurt feelings.

Holiday Hours

Sjoberg & Holmstrom Financial Services will be closed December 24th through January 1st. You can still call 877-812-0259 we will be monitoring messages through e-mail and phone.
Everyone at Sjoberg & Holmstrom and Your Safe Money Show wishes you a Merry Christmas and a Happy New Year and we look forward to serving you in 2014!

Definition of the Day December 23

Participation Rate:
Also called the Index Rate, this refers to the part of the index's increase credited to an equity-indexed annuity's account value. In some contract's, a cap is imposed on this amount.

Highlights of Saturday December 21st Your Safe Money Show

Giving is a great thing all year long but charities count our our donations especially during the holiday season. This Saturday on Your Safe Money Show I have ways to give that you maybe never thought of.
Getting an inheritance can sometimes be overwhelming and I have some suggestions that might make handling that easier.

Definition of the Day December 19

Vesting:
The term used to describe an employee's gaining of the right to be paid a current or future benefit from a pension plan.

Charities and end of the year deductions

Tis' the season, charities really count on people's generosity especially this time of year.If you itemize deductions, a last minute check is tax deductible as long as you drop it in the mail by December 31st.
Donations charged to a credit card by the 31st are deductible this year too. Remember too that noncash donations are as valuable as cash. In this week's Your Safe Money Show I talk about donating, items you no longer use, clothing , kitchen gadgets, gently used furniture most non-profits will give you a receipt so you can claim it on your taxes. Listen this Saturday morning, stations and times are listed on the home page.

Definition of the Day December 18

Fiduciary:
An individual or organization that exercises control over a pension plan and/or the assets it holds.

Definition of the Day December 16

Prospectus:
A written document that must be provided under federal regulations to the prospective buyer of a variable annuity before the actual sale.The document describes the investment goals of accounts, past performance of any sub-accounts included, and defines fees and other expenses.

Show Highlights for Saturday December 14

There will be some modest changes  in 2014 with 401(k)s and IRA's I'll tell you what those are and how that may affect you.
The University of Minnesota is using virtual reality simulators to perfect surgical techniques.This is possibly the most significant change in surgical training since the early 1900's. Why does this matter to you, these techniques could keep you living longer, so again you need to plan for longevity.
                                                                         

Definition of the Day December12

Accrued Monthly Benefit (AMB):
This is the monthly amount earned toward an employee's pension via that individual's service to the employing company.

Definition of the Day December 11

Point -to-Point:
A way of calculating index annuity yield. The total yield is simply the difference in index value from the day the annuity is purchased to the day it expires.

Adults 65 and older report feeling much less tired than people in their 20's or teens

According to a new study that tracked nearly 13,000 Americans rated their energy levels and found that elderly people say they feel much less tired than teenagers and younger adults.
The results defy stereotypes of older people as weak and tired and counter earlier studies.
What's even more surprising, is that the results can't be explained away by elderly people sleeping longer or doing fewer tiring activities. In fact, tiredness dropped off after age 40 and continued to decrease with age.
The results which were published on-line in the Journals of Gerontology, were controlled for how healthy people thought they were and other characteristics, such as gender, ethnicity and how much people slept. Researchers also factored in how much of the day was spent doing tiring activities. So why might older people report feeling less tired than teens? The researchers say "We don't know" and we'd love to find out".
Todd will talk about this in an upcoming Your Safe Money Show.

Definition of the Day December 10

Annuitization:
The process of converting an annuity contract's value into an income stream represented by periodic payments made over a specified period of time.

Definition of the Day December 9

Executor:
An individual named in a will who is designed to carry out the wishes of the deceased person for the distribution of his or her property and who performs this activity under the supervision of a court.

Highlights for December 7 Your Safe Money Show

We're talking credit on this Saturday's Your Safe Money Show. Credit cards, credit scores, credit fraud and we'll introduce you to an expert on credit, John Mackey. I also have timely information on budgeting for the holidays.

Definition of the Day December 5

Renewal Rate:
The new rate of interest credited to an annuity after the current interest-rate period is over, typically on the anniversary of the contract. This rate may be higher or lower than the current rate, depending on economic conditions and the investments used by the insurer.

Definition of the Day December 4

Deferred Compensation:
Compensation for services rendered provided under an agreement stating that such compensation will be paid sometime in the future, after the actual services have been performed.

Census Info and Women's Workshop's

The 2010 U.S. Census shows 80% of the people that reach centenarian status, age 100, are women.

Because women have longer life expectancies they have greater financial challenges:

Women will need to stretch their retirement dollars further.

Women are more likely to need some type of long-term care, and may have to face some of their health-care needs alone.

Married women are likely to outlive their husbands, which means they could have ultimate responsibility for disposition of the marital estate.

Women generally earn less and have fewer savings.

According to the Bureau of Labor Statistics, within most occupational categories, women who work full-time, year-round, earn only 81% (on average) of what men earn. This wage gap can significantly impact women's overall savings, Social Security retirement benefits, and pensions.

We'll be offering a couple of workshops in late January called "Wine, Women, and Wealth" targeting women and their specific concerns. The dates are Tuesday January 28th and Thursday January 30th. Please keep those dates open and we'll have more details on these workshops in weeks to come.

Definition of the Day December 3

Liquidity:
The ability to quickly convert assets into cash by an individual or organization without incurring significant losses of value.