For our August 1st edition of Your Safe Money Show I’ll talk about how the coronavirus will change your next tax return, it's always good to understand how taxes can affect you.
Also, I’ll explain how there are "things" that may disappear forever since the pandemic, and if you haven’t already, it’s time to do a midyear retirement review.
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.
Thursday, July 30, 2020
Wednesday, July 29, 2020
I am here to help
Do you find yourself glued to the news or obsessively checking your 401(k)? You’re not alone! I can provide a calm voice and reasonable guidance. Contact me today! Todd Sjoberg at 320-679-5183 or go to yoursafemoneyshow.com.
Tuesday, July 28, 2020
Interesting survey results
A recent survey has some telling results.
Every year, brokerage giant Charles Schwab has 1,000 people between age 21 and 75 surveyed to find out what they think it takes to be considered wealthy. The magic number, across all the participants, was around $2.4 million for 2017, 2018 and 2019.
This year, however, the figure has fallen about 17% to $2 million. It dropped even more, by 23%, when measured over just the past six months — in January, people had said they needed $1.6 million to feel rich.
Other perceptions have also changed. A question about which factors contribute the most to someone’s overall happiness — relationships, health, money, lifestyle and career — shows that the importance of relationships rose over the past six months, while that of money stayed largely the same. When results were broken down by generation, the influence of money on happiness fell slightly for millennials and Boomers, and increased for Gen X-ers.
After the terrorist attacks of Sept. 11, 2001 there was also a trend toward the importance of "relationships". A Pew Research Center survey of 1,500 people found 37% of respondents wanted to spend more time with family that holiday season, and 54% of parents were making an effort to spend more time with their kids.
Every year, brokerage giant Charles Schwab has 1,000 people between age 21 and 75 surveyed to find out what they think it takes to be considered wealthy. The magic number, across all the participants, was around $2.4 million for 2017, 2018 and 2019.
This year, however, the figure has fallen about 17% to $2 million. It dropped even more, by 23%, when measured over just the past six months — in January, people had said they needed $1.6 million to feel rich.
Other perceptions have also changed. A question about which factors contribute the most to someone’s overall happiness — relationships, health, money, lifestyle and career — shows that the importance of relationships rose over the past six months, while that of money stayed largely the same. When results were broken down by generation, the influence of money on happiness fell slightly for millennials and Boomers, and increased for Gen X-ers.
After the terrorist attacks of Sept. 11, 2001 there was also a trend toward the importance of "relationships". A Pew Research Center survey of 1,500 people found 37% of respondents wanted to spend more time with family that holiday season, and 54% of parents were making an effort to spend more time with their kids.
Monday, July 27, 2020
Thursday, July 23, 2020
Highlights for July 25th Your Safe Money Show
We have a special edition of Your Safe Money Show this week. Todd has some time off and I am using some of our most asked about content from past shows for this show. Todd will go over the implications of the Secure Act, lying about money and alternatives to long-term care insurance.
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.
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.
Tuesday, July 21, 2020
Discount drug cards
What are prescription drug 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.
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.
There are several discount cards out there, you can google discount drug cards to find out more.
Unlike insurance benefits, these discount cards are generally free and have no additional fees.
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.
There are several discount cards out there, you can google discount drug cards to find out more.
Monday, July 20, 2020
Thursday, July 16, 2020
Highlights for July 18th Your Safe Money Show
Here's what to expect on this Saturday's (July 18th) edition of Your Safe Money Show.
Federal agencies, since 2004, have admitted to improper payments. Find out how much money has gone out and to whom that money went.
Also, age disparities for married couples, where there’s 10-15 years difference, can bring challenges when it comes to retirement and retirement planning.
And you have maybe heard of discount drug cards that offer savings on your prescriptions. We will see what they offer and how they work?
Tune in at 7:30 at 95.5 FM KBEK. They stream live at kbek.com.
Hear recent shows at the podcast page at yoursafemoneyshow.com.
Federal agencies, since 2004, have admitted to improper payments. Find out how much money has gone out and to whom that money went.
Also, age disparities for married couples, where there’s 10-15 years difference, can bring challenges when it comes to retirement and retirement planning.
And you have maybe heard of discount drug cards that offer savings on your prescriptions. We will see what they offer and how they work?
Tune in at 7:30 at 95.5 FM KBEK. They stream live at kbek.com.
Hear recent shows at the podcast page at yoursafemoneyshow.com.
Wednesday, July 15, 2020
Difficult times
Times like these can be even more challenging if you are approaching retirement. A personalized Retirement Compass report can help determine if you are still on track. Contact me today! Todd Sjoberg 320-679-5183 or go to the website yoursafemoneyshow.com.
Tuesday, July 14, 2020
What NOT to do when buying a house
As the housing market continues to be strong, there are things NOT to do when buying a home.
Looking for a home before applying for a mortgage. If you're serious about buying a house get pre-approved.
Talking to only one lender. Shop around with at least three lenders, compare rates, lender fees and loan terms.
Buying more house than you can afford. Just because you qualify for a more expensive loan doesn't mean you can afford the monthly payments.
Don't drain all your savings for the down payment and closing costs.
Being careless with credit. Don't open new credit cards, close existing accounts, take out new loans or make large purchases on existing accounts in the months leading up to applying for a mortgage through closing day.
Overlooking FHA, VA and USDA loans. If you don't qualify for a conventional loan, look into the three government insured loan programs.
Miscalculating the hidden costs of homeownership. Make sure you have a break down of property taxes, insurance, utilities, ect. so you know what your costs will be.
A home is one of the biggest investments you ever make, do your homework for the best outcome.
yoursafemoneyshow.com.
Looking for a home before applying for a mortgage. If you're serious about buying a house get pre-approved.
Talking to only one lender. Shop around with at least three lenders, compare rates, lender fees and loan terms.
Buying more house than you can afford. Just because you qualify for a more expensive loan doesn't mean you can afford the monthly payments.
Don't drain all your savings for the down payment and closing costs.
Being careless with credit. Don't open new credit cards, close existing accounts, take out new loans or make large purchases on existing accounts in the months leading up to applying for a mortgage through closing day.
Overlooking FHA, VA and USDA loans. If you don't qualify for a conventional loan, look into the three government insured loan programs.
Miscalculating the hidden costs of homeownership. Make sure you have a break down of property taxes, insurance, utilities, ect. so you know what your costs will be.
A home is one of the biggest investments you ever make, do your homework for the best outcome.
yoursafemoneyshow.com.
Monday, July 13, 2020
Thursday, July 9, 2020
July 11th info for Your Safe Money Show
Sure hope you can listen Saturday morning July 11th for Your Safe Money Show. For most of us, buying a house is one of the largest financial purchases we ever make. I have things you should NEVER do when buying a house.
Also, there’s a difference between an “Annual Physical”, and an “Annual Wellness Visit”, when it comes to Medicare and what they’ll pay for. This is important information if you are on Medicare.
And I’ll explain how to avoid fees on your Social Security debit card. Yes, there is such a thing as a Social Security debit card.
Listen 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.
Also, there’s a difference between an “Annual Physical”, and an “Annual Wellness Visit”, when it comes to Medicare and what they’ll pay for. This is important information if you are on Medicare.
And I’ll explain how to avoid fees on your Social Security debit card. Yes, there is such a thing as a Social Security debit card.
Listen 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.
Wednesday, July 8, 2020
Medicare Part B enrollment explained
Yesterday I said i'd continue a discussion on Medicare Part B enrollment.
How do you enroll in Medicare Part B and how does Part A work?
If you are already receiving Social Security or Railroad Retirement benefits, you will be notified three months prior to your 65th birthday that you are about to become a Part A Medicare enrollee, and that Part B is an option. You’ll receive the Part B card at the same time as the Part A card.
If you choose not to enroll in Part B, you must return the card (which means you’re rejecting Part B coverage) or the premium will automatically start to be deducted from your Social Security checks. If you keep the card, Part B coverage kicks in the month you turn 65.
If you’re not already receiving Social Security or Railroad Retirement benefits, you’ll have an opportunity to enroll in Medicare B (along with Medicare A) during a seven-month window that includes the three months before the month you turn 65, the month you turn 65, and the following three months. If you enroll in the three months prior to the month you turn 65, your coverage will be effective the month you turn 65.
If you'd like assistance understanding Medicare call me for an appointment at 320-679-5183 or go to yoursafemoneyshow.com.
How do you enroll in Medicare Part B and how does Part A work?
If you are already receiving Social Security or Railroad Retirement benefits, you will be notified three months prior to your 65th birthday that you are about to become a Part A Medicare enrollee, and that Part B is an option. You’ll receive the Part B card at the same time as the Part A card.
If you choose not to enroll in Part B, you must return the card (which means you’re rejecting Part B coverage) or the premium will automatically start to be deducted from your Social Security checks. If you keep the card, Part B coverage kicks in the month you turn 65.
If you’re not already receiving Social Security or Railroad Retirement benefits, you’ll have an opportunity to enroll in Medicare B (along with Medicare A) during a seven-month window that includes the three months before the month you turn 65, the month you turn 65, and the following three months. If you enroll in the three months prior to the month you turn 65, your coverage will be effective the month you turn 65.
If you'd like assistance understanding Medicare call me for an appointment at 320-679-5183 or go to yoursafemoneyshow.com.
Tuesday, July 7, 2020
Delaying Medicare Part B
I've had some questions lately about enrolling in Medicare Part B. The most important thing to remember about Part B is when you're eligible for Medicare you can delay enrolling but you must meet certain criteria, so you don’t get penalized. Those penalties increase an enrollee’s monthly Part B premium by 10 percent for each 12-month period the person could have been enrolled but wasn’t. Also, those who miss their initial enrollment window and don’t meet every single requirement for the Special Enrollment Period for Part B generally can only enroll during January to March of each year, with Part B coverage not effective until that July – leaving up to a year or more without primary medical coverage.
One of best ways to avoid the Part B late-enrollment penalty and enroll in the right medical coverage at the right time, is by having group health coverage through your own or a spouse’s current employer, and have had that coverage during the first month you qualified for Medicare. You then must enroll in Part B coverage within the eight months following the last day of the month when you or your spouse's employment ends, or you or your spouse’s current employment-related group health plan coverage ends. Whichever comes first.
I'l share more on Medicare enrollment tomorrow. If you have questions call 320-679-5183 or go to yoursafemoneyshow.com.
One of best ways to avoid the Part B late-enrollment penalty and enroll in the right medical coverage at the right time, is by having group health coverage through your own or a spouse’s current employer, and have had that coverage during the first month you qualified for Medicare. You then must enroll in Part B coverage within the eight months following the last day of the month when you or your spouse's employment ends, or you or your spouse’s current employment-related group health plan coverage ends. Whichever comes first.
I'l share more on Medicare enrollment tomorrow. If you have questions call 320-679-5183 or go to yoursafemoneyshow.com.
Monday, July 6, 2020
Thursday, July 2, 2020
Your Safe Money Show highlights for July 4th
For our 4th of July edition of Your Safe Money Show we’ll look at Elder Justice in America and what Congress is doing on this important topic.
There’s new rules for medical and dependent care FSA’s, Flexible Spending Accounts, I’ll share those changes.
And we get questions if you delay enrolling in Medicare Part B and other aspects of this, so we’ll try to clear up that confusion.
Listen at 7:30 a.m. at 95.5FM KBEK on Saturday's. They stream live at kbek.com.
Hear shows at your convenience at the podcast page at yoursafemoneyshow.com.
There’s new rules for medical and dependent care FSA’s, Flexible Spending Accounts, I’ll share those changes.
And we get questions if you delay enrolling in Medicare Part B and other aspects of this, so we’ll try to clear up that confusion.
Listen at 7:30 a.m. at 95.5FM KBEK on Saturday's. They stream live at kbek.com.
Hear shows at your convenience at the podcast page at yoursafemoneyshow.com.
Wednesday, July 1, 2020
Looking for a good long-term strategy?
No matter where you are in your financial journey, times like these are never fun! A good long-term retirement strategy may be critical to being as prepared as possible. Contact me today for help!
Todd Sjoberg at Sjoberg & Holmstrom Financial Services in Mora. We are an independently owned and operated financial service agency and were not affiliated with any other safe money agency.
Call 320 679- 5183 or go to yoursafemoneyshow.com.
Todd Sjoberg at Sjoberg & Holmstrom Financial Services in Mora. We are an independently owned and operated financial service agency and were not affiliated with any other safe money agency.
Call 320 679- 5183 or go to yoursafemoneyshow.com.
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