Happy New Year!!!!

Everyone at Sjoberg & Holmstrom and Your Safe Money Show wish you a Happy New Year!
We look forward to assisting you with your financial concerns in 2020.
The office will be open at 8 a.m. on Thursday January 2nd.
Call for an appointment at 320-679- 5183.

Your Safe Money Show Highlights 12-28-19

 I’ll go over health care documents you need to have. 

Also what NOT to keep in a safety deposit box and the Ten Commandments of retirement. Listen at 95.5 KBEK Saturday mornings at 7:30. They stream live at kbek.com.

Hear recent shows at the podcast page at yoursafemoneyshow.com.

Merry Christmas!

Everyone one at Sjoberg & Holmstrom Financial Services and Your Safe Money Show want to wish you a Merry Christmas!
Our office will be closed through January 1st. We will open at 8 a.m. on Thursday January 2nd.
You can leave a message at 320-679-5183.

Deadline for RMD's

There’s a deadline in regard to required minimum distributions (RMD’s) coming up that can cost you in penalties and taxes.

 RMDs are a minimum amount of money that the IRS requires you to withdraw from most types of retirement accounts each year starting the year in which you turn 70½. The accounts include Traditional individual retirement account (IRA), Simplified employee pension (SEP) IRA, Savings incentive match plan for employees (SIMPLE) IRA, Traditional 401(k), Roth 401(k), 403(b), and 457(b). Roth IRAs are not subject to RMDs during the original account owner’s lifetime. The deadline for your first RMD — the one for the year in which you turn 70½ — is different. The IRS gives you a little more time to withdraw that first RMD — until April 1 of the following year.

 So, folks who turned or will turn 70½ during 2019 have until April 1, 2020, to take their first RMD. If that’s you, just beware that if you postpone taking your 2019 RMD until 2020, you would end up having to take two RMDs in one year: your first one by April 1 and your second one by Dec. 31, 2020. As a result, you’d likely owe taxes on both of those RMDs in the same year, as RMDs are generally taxable income. And that could hike your tax bill. If you fail to withdraw an RMD in full by any applicable deadline, however, the IRS can penalize you. The agency will tax whatever RMD amount you failed to withdraw on time at 50%.

If you have questions call 320-679-5183 or go to yoursafemoneyshow.com.

Your Safe Money Show Holiday season scams 12 21 19

Taxes and retirement

Gifting

Let’s consider nontaxable and nondeductible giving to friends and family. Every year, you can give up to $15,000 to whomever you want and to as many people as you want. The recipient pays no tax on the gift and you receive no deduction. If you give someone stock, they take over the gains that you had in the stock. When they eventually sell it, they pay the capital gains tax at their rate. If you give more than $15,000, you simply need to file a gift tax return. The gift tax return means that you eat up some of the $11.4 million dollar exclusion that the government gives you before estate taxes kick in (if you’re married, the number is $22.8 million). Those are the facts, but what else is there to consider? First, all gifts to family and friends create an imbalance of power. This is not good or bad, it just is. Some people handle this better than others. So, while the gift is often greatly appreciated, it can also be confusing and affect the nature of the relationship.
If you want more information on gifting call 320-679-5183.
yoursafemoneyshow.com

Your Safe Money Show Benefits of not retiring with your spouse 12 14 19

Your Safe Money Show highlights for December 14th

Coming up on this Saturday's (December 14th) Your Safe Money Show.
Retirement planning has different phases according to your age, what you do in your 40’s will be different from your 60’s. I’ll have a checklist of what to do and when.
If you’re helping your retired parents financially or in other ways, you just need to be careful your protecting your own retirement plans, I’ll explain.
And there’s some interesting benefits of NOT retiring at the same time as your spouse.
Listen at 7:30 a.m. at 95.5 FM KBEK. They stream live at kbek.com. To hear recent shows go to the podcast page at yoursafemoneyshow.com.

Retirement income

Package scams

There has so far been just over $72 billion spent online since the beginning of November. Obviously with all these online sales that means package deliveries are up and scammers are taking advantage. Here’s a new scam, you receive a call or an email from someone claiming to be your mail carrier or a parcel delivery service saying that they were unable to deliver a package to your home. If you don’t remember ordering anything that needs to be delivered, the caller may try to convince you the package is a gift from a friend or relative. The caller may sound friendly and professional, making the scam harder to spot.
The email messages also look legitimate - containing official logos and using professional language. Email messages may ask you to click on a tracking link for your mystery package. When you click, you may download malware onto your computer that gives con artists access to any personal information and passwords.
The caller will ask you to verify personal information or give them your credit card information to reschedule the delivery.
No matter the method of contact, the package doesn’t exist. Sharing your personal information puts you at risk for identity theft. What to do? Be wary of unsolicited communications. Track your packages. Never give your personal information to strangers. Never click on links in unsolicited emails.

Your Safe Money Show Manage holiday spending 12 7 19

Highlights for December 7th Your Safe Money Show

For our first Your Safe Money Show in December on the 7th I’ll have year end money strategies for you to do, that will save you money.
Also, I have tips on how to manage your holiday spending. And there seems to be 3 big financial issues that are a concern for Americans, I’ll share what those are and how to deal with them going forward.
Listen at 7:30 a.m. Saturday's at 95.5 FM KBEK. They stream live at kbek.com.
Hear recent shows at the podcast page at yoursafemoneyshow.com. 

Legacy planning

New proposed life expectancy tables for IRA's

The IRS has issued new proposed life expectancy tables to calculate RMDs.
As a reminder a required minimum distribution (RMD) is the amount of money that must be withdrawn from a traditional, SEP, or SIMPLE IRA account by owners and qualified plan participants of retirement age. Participants must begin withdrawing from their retirement accounts by April 1 following the year they reach age 70 1/2.
The new tables take into account longer life expectancy. The current tables stop at age 115+, but the new ones run an extra five years, to 120+. These are the first changes made to the tables since 2002.
What do the new tables mean in practice? When calculating RMDs under the proposed rules, the life expectancy factors would be higher, which means an account owner would take out a smaller amount, leaving more money to grow tax-deferred in the retirement account. For instance, the current factor for someone who is age 71 is 26.5, whereas the proposed rules would set that factor at 28.2. That change means a 71-year-old with a $1 million IRA would be required to take out nearly $2,300 less.
The new tables are not a done deal just yet. The proposed regulations must still go through a few more regulatory steps before they can be finalized. If they stay on track through that process, the new rules would be used to calculate 2021 RMDs.
For now, proceed as usual with the current rules for 2019 and 2020 RMDs.

Your Safe Money Show Cure for surprise medical bills 11 30 19

Closed for Thanksgiving

Sjoberg & Holmstrom Financial Services and Your Safe Money Show will be closed on Thanksgiving and Friday November 29th.
We will be open on Monday December 2nd at 8 a.m.
You can leave a message at 320-679-5183.
Have a blessed Thanksgiving and know how much we appreciate you all for your business.

Your Safe Money Show highlights for November 30th

Coming up on this week's (November 30th) Your Safe Money Show.
Congress is considering ways to stop surprise medical bills, I thought we could see what they’re doing and what that’ll mean for us if it passes.
When it comes to your homeowner’s insurance there’s things that can get that insurance cancelled. I’ll go over that.
And in the past decade retirement has changed and I’ll have the ways it’s changed and how to go forward in the best way possible.
Listen at 7:30 a.m. Saturdays at 95.5 FM KBEK.
They stream live at kbek.com.
To hear recent shows go to the podcast page at yoursafemoneyshow.com.

Installment loans

According to the National Consumer Law Center, the benefit of installments loans is you have more time to make the payments; the downside is the payments on these high-cost loans go exclusively towards the interest, possibly for up to the first 18 months.

 The industry, for its part, argues that just as with payday loans, higher interest rates are needed to counter the fact that non-prime consumers are more likely to default.

 Typically, payday loans seemed to target the nation’s poor, but installment loans the bulk of their growth has been fueled by the middle class. About 45% of online installment borrowers in 2018 reported annual income over $40,000. Roughly 15% have annual incomes between $50,000 and $60,000, and around 13% have incomes above $60,000. This is a scary trend because there’s even more people affected, and the debt is even more severe.

I want to warn you away from these online installment loans, there are consolidation companies, credit solution people that can often times help. Make sure you go to a reputable website, go through the better business bureau site, do your homework.

Your Safe Money Show Save on 2019 taxes 11 23 19

November 23rd Your Safe Money Show

Were going to touch on taxes a bit for the Saturday November 23rd edition of Your Safe Money Show.
our estate plan may need updating to reflect the new tax rules, I’ll have details on that.
There are things you can do now to help save on your 2019 taxes, and there’s a rule of thumb about credit card use that could be costing you, tune in to find out more at 95.5 FM KBEK at 7:30 a.m. They stream live at kbek.com.
Hear recent shows at the podcast page at yoursafemoneyshow.com.

Generational vault

Discount drug cards

What are prescription discount cards? And how do they work? First things first: they are completely separate from your health insurance. Think of them as convenient online coupons for prescription medications. Unlike insurance benefits, these discount cards are generally free and have no additional fees. You need only enter a few personal details and you can begin using the service immediately. Just input your medicine and zip code and see results come in from nearby participating pharmacies and supermarkets.

 Discount card services make money by charging the participating pharmacies and supermarkets in their network a small fee for each transaction. The idea once you’re in the store you’ll buy other items when getting your prescriptions.

Just because you find good deals through a discount card doesn’t mean you should ditch your insurance prescription benefit. If you’re on Medicare and have opted for a Part D drug plan, don’t give it up. Many prescription drugs — especially those that don’t yet have a generic equivalent — can be cheaper through insurance benefits. Discount cards are especially useful in cases where you have a high deductible plan or a medication you need is not covered on your plan’s formulary, as the list of approved drugs is known.

Never pay for a drug discount card or provide insurance info, your Social Security number, or Medicare/Medicaid numbers. This info is never needed.

Your Safe Money Show Installment loans beware 11 16 19

Your Safe Money Show highlights for November 16th

For the November 16th edition of Your Safe Money Show I will share ways for you to find an old 401(k). Accounts get left behind especially if someone is changing jobs more frequently, so I’ll explain what to do.
I talked in the past about payday loans and now I need to explain about the danger of online installment loans.
And I will have ideas to help you stretch your dollars in retirement.
The show airs at 7:30 a.m. on Saturday's at 95.5 FM KBEK.
They stream live at kbek.com.
Hear recent shows at the podcast page at yoursafemoneyshow.com.

Social Security updates for 2020

Each and every October, the Social Security Administration releases its "Fact Sheet" that provides updates on the system. So, here’s the changes for 2020.

 The cost of living adjustment for beneficiaries or COLA is 1.6% or about $24 more dollars a month for the average benefit.

 For only the 10th time since Social Security was signed into law in 1935, the program's full retirement age is set to increase. This is the age at which a retired worker can collect 100% of their monthly benefit, as determined by their birth year. In 2020, the full retirement age will increase by two months to 66 years and eight months for persons born in 1958.

One of the more interesting quirks about Social Security retired worker benefits is that they're capped at a certain level. In 2020, the maximum monthly benefit at full retirement age will increase by $150 a month to $3,011.

The retirement earnings test allows the SSA to withhold some or all of your benefits if you've begun taking your payout prior to your full retirement age, are still working and you surpass set income thresholds. To keep this simple, for 2020, the amount threshold to be taxed goes up $50.

These are some of the changes for 2020, if you have questions call 320-679-5183.

Your Safe Money Show What does the Fed rate cut mean 11 9 19

Your Safe Money Show highlights for November 9th

Coming up on this Saturday's (November 9th) Your Safe Money Show.
The Federal Reserve has cut rates 3 times in 2019, I’ll discuss what that means for you.
The headline reads “how to wean your adult children off the bank of Mom and Dad”, this is an ongoing issue so we’ll go into what you can do.
And when someone passes away and they have lots of stuff often families don’t know what to do. Well there’s a booming industry to help, and I’ll explain.
Listen at 7:30 a.m. at 95.5FM KBEK. They stream live at kbek.com.
Hear recent shows at the podcast page at yoursafemoneyshow.com.

Rule of 100

Medicare Advantage plans

I want to clear up some confusion when it comes to Medicare Advantage plans.
Medicare Advantage is the privately managed alternative to Original Medicare. Many Medicare Advantage plans are HMOs that come with a network of participating doctors and hospitals. Nearly two-thirds (62%) of Medicare Advantage enrollees are in HMOs, according to the Kaiser Family Foundation. Some of these HMO networks can be restrictive, with relatively few participating hospitals and specialists available to their enrollees.
Original Medicare offers much broader access to doctors, because the program doesn’t have a network: beneficiaries can visit any doctor, specialist, hospital or urgent care center that accepts Medicare, anywhere in the country. Original Medicare is administered by the federal government, whereas Medicare Advantage plans are managed by private health plans that contract with the government to provide Part B outpatient services and Part A hospitalization coverage.
Medicare Open enrollment is going on now until December 7th. This is a great time to research and decide what your best options are. Call 320-679-5183 to make an appointment .

Your Safe Money Show Changes to Social Security in 2020 11 2 19

Highlights for November 2nd Your Safe Money Show

For the November 2nd edition of Your Safe Money Show I want to explain some of the disadvantages of Medicare Advantage plans.
Many Americans think they know more about money than they do, and this can cause problems through out your life but especially in retirement. I’ll have ways to bridge the financial literacy gap.
And I’ll have the changes coming to Social Security in 2020. Please listen at 95.5FM KBEK at 7:30 Saturday mornings. They stream live at kbek.com.
Hear recent shows at the podcast page at yoursafemoneyshow.com.

Risk tolerance

New rules for 401(k) withdrawals

Taking money out of your employer’s 401(k) plan while you’re still on its payroll is about to get easier. The federal government’s new rules about “economic hardship” withdrawals from retirement savings plans like 401(k)s go into effect in January 2020.

1. Under the old rules, hardship withdrawals were limited to the amount of money you’d contributed into the plan. The new rules increase the potential pool of savings by including any employer match, profit-sharing contributions and investment earnings.

2. Employers will no longer require you to take out a 401(k) loan before applying for a hardship withdrawal.

3. You’ll be allowed to contribute to your 401(k) immediately following the withdrawal, rather than waiting six months, as in the past.

The reason hardship withdrawals and loans are allowed: there’s some evidence that knowing the possibility of dipping into retirement savings exists boosts both participation and savings rates.

The big worry is that the making hardship withdrawals easier will increase what’s known as 401(k) “leakage” which is people using their retirement plan money while employed.

 Listen I am a retirement income planner I want you to leave your retirement money alone, but I realize there might be a time that you have to tap into those savings just be aware of the consequences.

If you have questions call 320-679-5183.

Your Safe Money Show Discount Drug Cards 10 26 19

Your Safe Money Show topics for October 26th

We hope you can listen this Saturday morning (October 26th) at 7:30 for another edition of Your Safe Money Show.
You’ve maybe heard of discount drug cards that offer savings on your prescriptions. We’ll see what they offer and how they work?
Also, the Federal Government has new rules regarding “economic hardship” withdrawals from 401(k)s, you need to be careful with this.
And I'll explain about what happens to someone’s debt when they die.
KBEK streams live at kbek.com. If you can't listen at 95.5FM KBEK on Saturdays, you can hear recent shows at our website homepage at yoursafemoneyshow.com.

Social Security maximzation

COLA 2020

If you haven’t heard, the Social Security Administration announced recently that seniors would get a 1.6% raise for 2020. In 2019 the raise was 2.8%. The Social Security Administration bases the annual cost-of-living adjustment (COLA) on a broad measure of inflation. Prices for food and some other goods have risen moderately over the past year, while energy prices fell. Health care costs rose about 4% over the 12 months ending in September and insurance costs went up as well. 

There’s been talk of changing how the COLA is measured but, in the meantime, the little raise someone gets with Social Security this year will be offset by higher health care costs.

Medicare’s trustees projected in April that the standard monthly premium in 2020 for Medicare Part B, which covers doctor visits and other types of outpatient care, will increase by $8.80 a month to $144.30, from $135.50 which is the current amount. A final figure is expected yet this fall. 

 We’re now in Open Enrollment for Medicare so it’s a good time for you to examine your current plan and if you want to explore other plans now’s the time. You have until December 7^th. Call 320-679-5183 for an appointment.

Your Safe Money Show Capping insulin prices 10 19 19

Here's what to expect for the October 19th Your Safe Money Show

Coming up on this weeks (October 19th) Your Safe Money Show.
We have a bit of a theme happening about health care: with Open enrollment for Medicare under way and Mn Sure open enrollment starting November 1st, I thought going over common health insurance terms would be helpful.
Also, insurers are cutting the cost of insulin in 2020, they’re putting caps in place, I have details on that.
And we’ll look at FSA’s versus HSA’s which is the best fit for you?
Tune in at 7:30 a.m. Saturday mornings at 95.5FM KBEK.
They stream live at kbek.com.
To hear recent shows go to the podcast page at yoursafemoneyshow.com. 

Medicare Open Enrollment

Medicare open enrollment runs from October 15^th through December 7^th. This is when Medicare plan enrollees can reevaluate their coverage, whether it’s Original Medicare, Medicare Advantage or a prescription drug plan through Medicare Part D.
To review:  Medicare Part A is hospital coverage. Part B is for medical coverage like doctor and clinical lab services, outpatient and preventive care, screenings, surgical fees and supplies, and physical and occupational therapy. Medicare Part C combines both A and B. Medicare Part C (also called Medicare Advantage) is a different way of getting Medicare Part A and Part B coverage. Medicare Part D is for prescription drug coverage. Seniors can choose among an average of over two dozen plans for their Medicare Part D prescription drug coverage, and each offers different prices and coverage. That’s why this open enrollment period is so important to compare plans. Call for an appointment with me today at 320-679-5183.

Your Safe Money Show Home renovations in retirement 10 12 19

Your Safe Money Show highlights for October 12th

Coming up on this week's, Saturday October 12th, Your Safe Money Show.
Divorce is always a tough deal for sure. But in retirement , there are different issues to be aware of. I will explain those details.
We’ve heard about “freezing” your credit, I’ll look at why you may want to freeze your credit and how to do so.
And what home renovations are worth the cost in retirement?
Listen at 7:30 a.m. at 95.5FM KBEK. They stream live at kbek.com.
Here's recent shows at the podcast page at yoursafemoneyshow.com.

What mix is right for you?

Optimists live longer than pessimists

Data from 230,000 men and women in the U.S., Europe, Israel and Australia over 14 years found that the subjects who described themselves as optimistic experienced 35% fewer major heart complications, such as stroke, heart attack and cardiac death, then those who didn’t. What’s more, these optimists were 14% less likely to have a premature death by any cause, including cardiovascular disease, cancer, dementia and diabetes.

Another study found that optimists tend to sleep better; they were 74% less likely to have insomnia and were also more likely to get a solid six to nine hours of shut-eye a night. And better sleep is linked to better overall health and a reduced risk of obesity and cardiovascular disease — which translates into a smaller chance of dying from heart disease or stroke.

Optimists are also more likely than pessimists to make smart money moves. Believe it or not, those looking on the bright side were more prepared for the worst, as 61% of optimists had started an emergency fund compared with less than half (43%) of pessimists. Optimists were also far more likely to save money for a major purchase, and they were more creative in finding ways to save money. 

Your Safe Money Show Are you ready to retire 10 5 19

October 5th Your Safe Money Show highlights

On this week's, October 5th, Your Safe Money Show. Recent research has found that pessimists are 35% more likely to suffer from a heart attack or stroke than optimists. This was a huge study and I’ll share those details.
Here’s the question “Are you really ready to retire”? I’ll have steps to a happy retirement.
And more seniors are working than ever, is it because they want to work or have to work? Is Social Security enough to live on? We’ll examine working in our later years.
Tune in at 7:30 a.m. Saturdays at 95.5 FM KBEK. They stream live at kbek.com.
You can hear recent shows at the podcast page at yoursafemoneyshow.com.

DNA scam

2020 Census information

Older Americans have been more likely than other age group to return their U.S. census forms and make sure they were counted. The 2020 census wants to utilize computers and signing up online, and experts worry older folks might not want to do online sign up.

The Census Bureau has digitized the 2020 census to save money. The 2010 census, which cost $10.2 billion, was the most expensive in history. Taking the census online — at least partially — is projected to save an estimated $5.2 billion.

Between March 12 and 20, the majority of households will receive a postcard invitation to respond online to the 2020 census. Those who don’t answer will then receive the traditional paper form in the mail. If a household still does not respond, the bureau will send a census taker to knock on that door to collect the household’s data. People who live in areas that the bureau has determined are most likely to lack broadband internet service will receive a traditional paper form in the first mailing.

If you live in a low population rural area, it’s important you get counted. In 2016 alone, more than $30 billion was distributed to rural communities from 55 federal programs. These funds went toward things like home loans, business loans and waste disposal. But such funding comes only if you and your neighbors are counted. 

Your Safe Money Show How important is the census 9 28 19

Your Safe Money Show highlights for September 28th

Here's Your Safe Money Show highlights for Saturday September 28th.
The 2020 Census will be happening in March, and there’ll be changes to go over and why it’s important to participate.
Health Insurance Open Enrollment is coming, and I’ll have how to make the most of it.
And I get this question often, so I thought it was time to go over how to roll over your 401(k) plan to a Roth IRA.
Listen at 7:30 a.m. at 95.5 FM KBEK. They stream live at kbek.com.
Hear recent shows at the podcast page at yoursafemoneyshow.com. 

Deer crashes and insurance

Car accidents with deer are especially common this time of year. Driving at dawn and dusk are the highest risk times for deer crashes.
Hitting a deer can be costly: According to the Insurance Information Institute, the average cost of deer-crash insurance claims was $4,179 in 2017.
If you have comprehensive coverage on your car insurance policy, hitting a deer is typically a covered loss. Keep in mind that for comprehensive coverage to apply, your vehicle must make physical contact with the deer. In other words, if you swerve to avoid hitting a deer and crash into another object or vehicle, you would need collision coverage to help repair damage to your car.
When you purchase comprehensive or collision coverage, you choose a set deductible. That's the amount you'll pay out of pocket before your insurer reimburses you for a covered claim.
Check with your agent to be sure you have proper coverage. 
Call Dennis Norby if you have any questions.

401(k) options when leaving a job

Your Safe Money Show How to be a snowbird 9 21 19

Your Safe Money Show topics for Saturday September 21st

Sure hope you can listen to Your Safe Money Show this Saturday (September 21st) at 7:30 a.m. at 95.5 FM KBEK.
I'll be talking about if a fire, flood, or other unforeseen disaster hits, do you know how to file a claim with your insurance company? I’ll have what you need to do to file a claim.
Cell phone plans can be expensive I’ll share ways to reduce your phone bill.
And if you head to warmer climate in the winter, we’ll go over tips for being a snowbird.
KBEK streams live at kbek.com.
Hear recent shows at the podcast page at yoursafemoneyshow.com.

How to stop harassment with debt you don't owe

Finding your retirement age

Deciding when to retire might be one of the biggest decisions you ever make.
I want to share with you factors to consider whether you are retiring soon or down the road. How much have you saved? Many of us count on Social Security benefits for our retirement income. So, maximizing the benefits you have coming is important.
You also have to look at 401(k) accounts, IRA’s and any other retirement savings you have, and will there be enough to carry you all the way through your retirement. Having an account that offers lifetime income might be a good fit for you.
Next you should consider your health and the cost of health care too. There are benefits to working longer if you can, but as you decide “when” to retire your health is crucial to that decision.
And finally, what are your goals in retirement? Don’t overlook this consideration and just pick a date to retire.
Many people want to travel just keep in mind travel costs money.
Having a plan and finding a way to reach your goals is the difference between a so-so retirement and an awesome one.
Retirement planning is what I do call for a no cost, no obligation appointment at 320-679-5183.

Your Safe Money Show Student health insurance 9 14 19

Your Safe Money Show highlights for September 14

Maybe you’ve heard about “break-even” calculations when it comes to your Social Security benefits and when you take those benefits. I want to examine this for you. 

 Also, long-term care is very expensive, and you can deduct those expenses from your taxes, I’ll go into detail on this.

 And I have things to know about student health insurance as our college age children are back at school.

Listen at 7:30 a.m. Saturdays at 95.5 FM KBEK.

They stream live at kbek.com.

Hear recent shows at the podcast page.

Personal loan scams

Your Safe Money Show Your childs financial education 9 7 19

Special broadcast of Your Safe Money Show from August 31st

Today Friday September 6th at 11 a.m. KBEK 95.5 FM will be replaying our show from Saturday August 31st.

On this show we talked about financial scams that especially pinpoint seniors. Also should you move near your adult child in retirement? And how to avoid the money pits of retirement.

You can hear the show from August 31st and the previous shows in August at your convenience by going to the podcast page at yoursafemoneyshow.com.

September 7th Your Safe Money Show

September 7th Your Safe Money Show highlights:
As children are back at school, I thought it would be a good time to discuss ways to teach our children and grandchildren about money.
We’ve talked before about unclaimed money; well I’ll have more details on where to find money that might be yours.
And protecting your retirement savings means the difference in a so-so retirement and an awesome one, so I’ll have information on that as well.
Listen at 95.5 FM KBEK at 7:30 Saturday morning. They stream live at kbek.com.
Hear recent shows at the podcast page at yoursafemoneyshow.com.

Is moving near an adult child in retirement a good idea?

There’s a lot to consider before you make a big move in retirement to be near your adult child. Ask these questions first. What role do I want to play in my child’s life? Discuss this with your son or daughter. 
Would I really like to live in the area my child has chosen? Try doing a trial run for a month or so and find out all you can about the area.
How do I want to spend my time? You cannot depend on your adult children for your social life. Look into hobbies, volunteering, travel, and make sure you have a plan.
What if I have a health scare? And what if my child needs to relocate after I’ve moved? You’ll want to see about health coverage and doctors in your child’s area. Will you be able to get to the clinic or hospital, is transportation an issue or not? What will you do if your child moves? Is it a possibility? It’s also important to look into the “financial” impact of a move. Do a cost-of-living comparison. Explore differences in state and local taxes. They might vary widely from what you currently pay.
Find out about local resources for retirees. A good place to start your research is by checking the state’s department of aging site. It will likely have information about regional Area Agencies on Aging as well as local community centers. And talk with your financial person about the feasibility with your finances, if the move will be doable.