Your Safe Money Show topics for February 1st

For this weeks edition (February 1st) of Your Safe Money Show, I want to touch on “The Secure Act”, it brings changes to 401(k)’s and IRA’s and there’s some money moves you might want to think about.
Speaking of changes, FICO, is introducing a new way to calculate credit scores that could hurt consumers who fall behind in their payments and help those who pay off their debts quickly. I’ll explain what’s happening there.
And loaning money to a family member or friend, this can cause issues, I’ll have what to consider before making a loan.
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 at yoursafemoneyshow.com.

Rebroadcast of Your Safe Money Show from January 25th

Listen at 9:30 a.m. today January 29th at 95.5 FM KBEK. They stream live at kbek.com.

Aid and Attendance for veterans

Cyber crooks and retirement accounts

Cyber criminals today are “looking for any possible route into people’s financial transactions, and they are increasingly focusing their efforts outside financial institutions’ firewalls.

So how do they gain your information? Spear phishing is where cyber bandits send emails supposedly from a trusted sender hoping the potential victim will reveal confidential financial information. A cyber security expert says when crooks gain entry to consumer bank and retirement accounts, the point of entry more often than not is the victim’s email account. Oftentimes, people’s account passwords, obtained in data breaches and then sold on the “dark web” to cyber criminals, are used to break into an email account and take it over without the victim knowing it.

How do you protect yourself? Make sure any computer or device used to access accounts is protected by a firewall and has current antivirus and antispyware software. Be wary of responding to, opening attachments in or clicking on links in emails that ask for your financial information. Open and read any letters or paper statements from your mutual fund or money manager to see if everything looks accurate and notify them promptly if it appears unauthorized activity has taken place.

Good sources for you to check out online there’s ftc.gov/scams that’s the Federal trade Commission site. You can also go to aarp.org/fraudwatchnetwork.

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January 25th Your Safe Money Show talking points

For the January 25th edition of Your Safe Money Show we'll discuss how cyber crooks have been targeting retirement accounts, I’ll tell you what to watch for and how to protect yourself.
I want to touch on inflation and Social Security and how that can affect your benefits.
And we’ll look at standard versus itemized tax deductions.
You can hear the show at 7:30 a.m. on 95.5 FM KBEK Saturday's. They stream live at kbek.com.
Hear recent shows at the podcast page at yoursafemoneyshow.com.

Finding old 401(k)'s

People leave old 401(k) accounts behind for many reasons. Here’s some tips and strategies to find a lost 401(k) account. Call Your Old Employer: If you suspect you have missing 401(k) funds or even if you're not sure, it's still a good idea to contact old employers and ask them to check if they're holding your old account. Use an Old 401(k) Plan Statement: With that document, the plan administrator (the investment/financial company that managed your 401(k) investments) can point you to where your money wound up - and who holds it now. Another option is to leverage a government document called "Form 5500". This form, required by the U.S. government, is used by the Internal Revenue Service to help track plan information and to satisfy annual reporting requirements under ERISA and the IRS code, according to the federal tax agency. Your best bet is to visit FreeERISA.com, which can help you track down your old 401(k). Leverage the National Registry: The National Registry, run by Pen Check, a retirement plan distribution firm, is a nationwide, secure database listing of retirement plan account balances that have been left unclaimed by former participants of retirement plans. The site offers an easy, free-of-charge way to locate lost or forgotten employee retirement accounts.

 If you need help rolling an old 401(k) call 320-679-5183 or go to yoursafemoneyshow.com.

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January 18th Your Safe Money Show highlights

Start your Saturday morning (January 18th) off right by tuning into Your Safe Money Show.
I have some money hacks that will help you save more and there’s some really good ones that I know I am going to use. Also, I have your 2020 personal finance calendar, a to-do list for you, and I’ll share ways to keep your brain young and improve your life.
Listen at 7:30 at 95.5FM, KBEK. They stream live at kbek.com. Hear recent shows at the podcast page at yoursafemoneyshow.com.

New Generation Retirement

Emergency fund

One of the most important things you can do to protect your financial health is having an emergency fund. 
An emergency fund is money you put away to cover unplanned situations that life throws at you, like losing your job, a medical emergency, unexpected home repairs, having to replace appliances, car troubles, the list goes on. 
How much you need to put away varies but I encourage at least 3 to 6 months’ worth of expenses. But since were all individuals you need to decide what you’re comfortable with, that offers you the most peace of mind.
I am such a believer in the financial stability that an emergency fund will bring to your life, along with the confidence knowing you can handle financial problems that may come up. Plus if you had to borrow money to pay for unexpected issues, you would have interest on the loan and fees, so you save money too. 
Ideally you should keep emergency money where you can get at it quickly and easily like a simple checking account or money market account that comes with a debit or check writing options. 
If you don’t have an emergency fund start saving today, so you’re ready for whatever life throws at you. 

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Your Safe Money Show highlights for January 11th

For the January 11th Your Safe money Show were going to look at a report about “The Longevity Economic Outlook” and what that means going forward. I think you’ll be surprised on what they found.
We talked about The Secure Act last year before it had passed and as of January 1st it has passed, I’ll explain how the law changes retirement savings.
And with a new year many of us want to do better with our money goals, I’ll have how to use percentages with your budget. This is good for all ages and budget percentages can help improve your budget and cash flow and reduce a lot of financial stress.
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.

How much risk is necessary?

Life Expectancy

Your life expectancy when planning for your retirement is more important today than ever before, because statistics show we are living longer than ever before. For some people retirement is lasting 30 years or longer.
Between 1980 and 2010, the population age 90 and older nearly tripled, reaching 1.9 million people, according to the Census Bureau. Over the next four decades, the 90-plus demographic is expected to quadruple.
When I meet with a client we discuss their family history and factor in longevity as we formulate their retirement plan along with many other factors.
Many people, when planning for retirement, tend to underestimate their life expectancy and, as a result, tend to overestimate how much they can spend after they retire. While they’re working, people don’t save as much thinking their expenses will go down in retirement, but that isn’t always the case.
As a retirement income planner my job is to help insure you'll have enough income to last all the way through your retirement. Call for a no cost, no obligation appointment at 320-679-5183.

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Highlights for January 4th Your Safe Money Show

For our first Your Safe Money Show for 2020 I'll be talking about MTM which stands for Medication Therapy Management and how it can benefit you.
I will also have the changes to Social Security for this year and we'll take a closer look at financial literacy.
Listen Saturday mornings at 95.5 FM KBEK at 7:30. They stream live at kbek.com.
Hear recent shows at the podcast page at yoursafemoneyshow.com.

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