Scams surrounding Covid-19

There are many scams happening now surrounding Covid-19. I'll have more details on scams on this Saturday's
April 4th Your Safe Money Show. But for today be aware of misinformation and rumors: Scammers, and sometimes well-meaning people, share information that hasn’t been verified.
What to do: Before you pass on any messages, and certainly before you pay someone or share your personal information, do some fact checking by contacting trusted sources. For information related to the Coronavirus, visit What the U.S. Government is Doing. There you’ll find links to federal, state and local government agencies.
To learn more, visit:
Coronavirus Scams: What the FTC is Doing at ftc.gov/coronavirus
Centers for Disease Control and Prevention at Coronavirus Disease 2019 (COVID-19)

Your Safe Money Show Navigating Widowhood 3 28 20

March 28th Your Safe Money Show highlights

For this weeks Your Safe Money Show (Saturday March 28) I will be touching on a hard topic but a necessary one, and that’s the stages that a widow goes through with the loss of their spouse. Over the years in my personal and professional life, I’ve recognized these steps, and I feel sharing this information could be helpful. Also, we’ll go over the history of Social Security payments and Social Security terms for you to know to boost your benefits. Listen at 95.5FM KBEK at 7:30 a.m. They stream live at kbek.com. Hear recent shows at the podcast page at yoursafemoneyshow.com.

Red and Green money

Were here to help

Sjoberg & Holmstrom Financial Services are working remotely during this time.
 We are taking calls at 320-679-5183 and at 855-226-6639. You can also message us at our Facebook page at Your Safe Money or at the website yoursafemoneyshow.com at the contact us page.
 Many of the services we provide can be done over the phone or with video conference.
Your Safe Money Show will continue to be on KBEK 95.5 FM Saturday mornings at 7:30. They stream live at kbek.com.
Recent shows are always available at the podcast page at the website.
Stay well and we will get through this difficult time.

Your Safe Money Show The Fed slashing interest rates 3 21 20

Sjoberg & Holmstrom Financial Services closing March 23 through the 27

Sjoberg & Holmstrom Financial Services will be closed March 23rd through March 27th. We will continue to take phone calls and can do many of our services via phone or video call.
We know these are difficult times but we are here to help you.
Call 320-679-5183.
Your Safe Money Show will continue at KBEK 95.5FM on Saturday mornings at 7:30. They stream live at kbek.com.
You can hear recent shows at the podcast page at yoursafemoneyshow.com.

Highlights for the March 21st edition of Your Safe Money Show

Coming up this Saturday March 21st on Your Safe Money Show.
We will look at The Fed cutting interest rates, and what that means for us.
I also want to have some positive ideas for you with tips to bring new life to your finances and things we can learn from people with excellent credit scores.
We'll keep bringing you financial information and to hear recent shows go to our website podcast page at yoursafemoneyshow.com.
Hear the show at 95.5FM KBEK at 7:30 Saturday mornings.
They stream live at kbek.com.

Understanding your risk

Medicare Annual Wellness Visit

Coverage rules with Medicare can throw people. A good example is the verbiage “Annual Wellness Visit” as opposed to Annual Physical. Federal law prohibits the health care program from paying for annual physicals, and patients who get them may be on the hook for the entire amount. But beneficiaries pay nothing for an “annual wellness visit,” which the program covers in full as a preventive service. 
What’s the difference? An annual physical typically involves an exam by a doctor along with blood work or other tests. The Medicare annual wellness visit generally doesn’t include a physical exam, except to check routine measurements such as height, weight and blood pressure. The focus of the Medicare wellness visit is on preventing disease and disability by coming up with a “personalized prevention plan” for future medical issues based on the beneficiary’s health and risk factors. Medicare beneficiaries pay nothing for the annual wellness visit as long as their doctor accepts Medicare. However, if a wellness visit, goes beyond the bounds of the specific covered preventive services into diagnosis or treatment — whether at the urging of the doctor or the patient — Medicare beneficiaries will typically owe a copay or other charges. 
The main take away is when making an appointment be sure to say Annual Wellness Visit not Annual Physical.

Your Safe Money Show Good debt Bad debt 3 14 20

March 14th Your Safe money Show highlights

On this weeks (March 14th) Your Safe Money Show. Good debt-Bad debt, do you know the difference?
I’ll have signs you aren’t financially ready to retire, and did you know if you volunteer to work in a National Park you can live for free? It’s true and I’ll explain.
Listen at 7:30 a.m. at 95.5 FM KBEK. They stream live at kbek.com.
Hear recent shows and get all our information at yoursafemoneyshow.com.

401(k) options when leaving a job

Gift cards

In financial news, a recent Bankrate survey found Americans have over $21 billion in unused gift cards, store credit and airline redemption vouchers. They figure half of all U.S. adults have about $167 in unredeemed gift cards and store credit.

 Starbucks Corp. alone reported $1.7 billion in unredeemed gift cards -- as of Dec. 31. Shoppers bought $425 million of the coffee company’s cards in the fourth quarter alone. Meanwhile, Target Corp. had $683 million in gift-card liability as of Nov. 2.

 Now here’s why I am bringing this up, one-quarter of U.S. adults have allowed a gift card to expire. Under federal law, a gift card cannot expire in less than five years after the date of purchase. But if it’s not used within 12 months, fees for inactivity, dormancy or service can be charged to the card each month, diminishing its value.

 Gift cards and store credits are real money, the longer you hold it, the more likely you are to lose it. Or the company could go bankrupt. 

Unwanted gift cards can be sold in a secondary market on sites such as Cardpool.com, CardCash.com and GiftCardSpread.com.

 And you can always regift if you don’t use it yourself.

Your Safe Money Show Implications of The Secure Act 3 7 20

March 7th Your Safe Money Show highlights

Coming up on the Saturday March 7th Your Safe money Show. We’ve talked about The Secure Act before here on the show but I want to get more specific on how it impacts tax benefits and beneficiaries.
Also, we all know the housing market has been in favor of the “seller” for awhile now but do you as a seller understand the hidden costs of selling your home? I’ll explain.
And as tax time is at hand, I’ll have ways to reduce your taxes.
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.

Color of money risk analysis tool

The Secure Act

The Setting Every Community Up for Retirement Enhancement Act of 2019, better known as the SECURE Act, was approved by the Senate on Dec.19, 2019, and signed into law on Dec. 20 by President Donald Trump.

 Here’s the key takeaways: The SECURE Act will make it easier for small business owners to set up “safe harbor” retirement plans that are less expensive and easier to administer. Many part-time workers will be eligible to participate in an employer retirement plan. The Act pushes back the age at which retirement plan participants need to take required minimum distributions (RMDs), from 70½ to 72, and allows traditional IRA owners to keep making contributions indefinitely. The Act mandates that most non-spouses inheriting IRAs take distributions that end up emptying the account in 10 years. The Act allows 401(k) plans to offer annuities.

There’re more nuances to The Secure Act then what we have time for here but I’d be happy to explain this in more detail and how it will affect you and your retirement. Call 320-679-5183 for a no cost consultation.

Your Safe Money Show Alternatives to long term care insurance 2 29 20