Changes to Open Enrollment

 This year during Open enrollment for MnSure we are unable to meet with folks at various library locations because of Covid. We can assist you in our office in Mora by appointment. We can also help with a phone call or if you'd like a video appointment. We are setting appointments now for Medicare Open Enrollment which starts October 15th and runs until December 7th. MnSure Open Enrollment starts November 1st and goes until December 22nd. Call 320-679-5183 or go to the website yoursafemoneyshow.com

Caregivers Act

 The U.S. Department of Veterans Affairs (VA) is about to increase the scope of its Program of Comprehensive Assistance for Family Caregivers (PCAFC) to include eligible veterans who suffered serious injury in the line of duty on or before May 7, 1975. Benefits of the program include monthly stipends, medical training and health insurance. The expansion is set to go into effect Oct. 1. Many veterans have multiple chronic health problems and that leaves them especially vulnerable to serious illness if they get Covid. There’s a push to keep vets at home and limit time at VA medical centers if at all possible, but caregivers need help. The program “saves money in the long run,” because it provides compensation to spouses, parents and other partners of severely injured veterans who would otherwise require expensive care in a facility. Caregivers also are eligible for medical benefits and training. For more information go to caregiver.va.gov

Your Safe Money Show VA expanding aid 9 26 2020

Your Safe Money Show topics for September 26th

 Coming up on the September 26th Your Safe Money Show.

The VA has expanded aid to cover caregivers for Vietnam Vets and with the virus this is coming at a crucial time, I’ll explain.

I also have results of a survey on how the pandemic has affected the financial lives of average Americans.

And we’ve talked in the past about moving in retirement, but for the show we’ll talk about the reasons NOT to move in retirement.

Listen at 95.5 FM KBEK. They stream live at kbek.com.

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

Your Guide to Retirement Benefits

 When did Social Security start?

The Social Security Act was signed by FDR on 8/14/35. Taxes were collected for the first time in January 1937 and the first one-time, lump-sum payments were made that same month. Regular ongoing monthly benefits started in January 1940.

"When" you decide to take your Social Security benefits is a big decision. We have "Your Guide to Retirement Benefits", it has answers to many of the common questions regarding Social Security. For your free copy call 320 679 5183 or ask at the website yoursafemoneyshow.com.

Medicare Open Enrollment

 Were less than a month away from open enrollment for Medicare and Part D prescription drug coverage, which starts October 15th and runs through December 7th. Why is this important, well having the right coverage for you and your situation is key and you might actually save money depending on what plan fits you best. Changes you can make include swapping from original Medicare (Part A hospital insurance and Part B medical coverage) to a private Medicare Advantage plan. You can also switch from one Medicare Advantage plan to another, as well as join a prescription drug plan. There are many options with Medicare and your health concerns and drugs you take, have to be considered so you get the best plan for your particular circumstances, and that's why there's open enrollment each year.

Call for an appointment at 320-679-5183 or go to our website yoursafemoneyshow.com.

Your Safe Money Show Retirement Security 9 19 2020

Your Safe Money Show highlights for September 19th

 Coming up on the September 19th Your Safe Money Show. I have results from a Kiplinger Alliance for Lifetime Income poll: called Americans and retirement security. There’re some interesting findings you’ll want to hear. We're less than a month away from Open enrollment for Medicare and I’ll have ways to save money with enrollment. And I hope you never lose your wallet, but I have steps to take if you should lose your wallet, someday this will be good information to have. 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.

Options changing for appointments for Open Enrollment

 Please keep in mind during Open Enrollment for Medicare and MnSure for the 2021 start of January 1st, we won't be at various locations like libraries because of Covid. We can meet with you in our office at 139 Union Street in Mora by appointment. We can also meet over the phone or by video conference.

To make an appointment call 320-679-5183. Open Enrollment for Medicare starts October 15th and goes until December 7th. MnSure opens November 1st and runs until December 22nd.

Importance of your credit score in retirement

 This came to my attention recently with a client, they said they weren’t as concerned about their credit score as they used to be since they didn’t plan on borrowing in retirement. And I said that may be true but it’s still important to have a good credit score.

To keep a good score whether you’re 20 or 80 you need to: make timely payments, keep credit balances low and monitor accounts for fraudulent activity. But there are certain issues in particular that older adults should keep in mind, like keeping their accounts open and active. I know it’s tempting to close an old account you’re not using but you’ll lose that credit amount, and that can drop your score. And because the length of your credit history is factored into your FICO score, you generally should avoid closing long standing accounts. And make sure to use cards occasionally otherwise the companies can close them from lack of use, and that can hurt your score.

Keep in mind your credit may be checked for a variety of reasons, whether you’re refinancing your mortgage, downsizing to a smaller home or applying for a part-time job. And for sure your borrowing habits and history are important for you to qualify for a loan or to get lower interest rates, your credit profile can come into play in ways you might not realize.

So bottom line, your credit score continues to be an important part of your financial life into retirement.

Your Safe Money Show How to save a million dollars 9 12 2020

Highlights for September 12th Your Safe Money Show

 Here's what's on the docket for our September 12th Your Safe Money Show heard at KBEK 95.5FM Saturday mornings at 7:30. They stream live at kbek.com.

Are you ready to learn how to save a million dollars? I have strategies that can help you toward that goal. I’ll also have how you as a homeowner can save in ways you might not realize. And if you’re doing any estate planning, I’ll have how The Secure Act can affect what you do going forward.

Scammers are targeting older adults during this pandemic

 Scammers are going after older adults during this pandemic. I have for you from an Institute on Aging out of Cleveland tips to help you or a loved one avoid Covid 19 fraud.

1. Ignore offers for vaccines, pills, potions, lotions or other products that claim to cure or treat coronavirus. There is currently no Food and Drug Administration-approved cure or treatment for COVID-19.

2. Do your research before contributing to any charity claiming it will help COVID-19 victims. Good sources to check include the Internal Revenue Service site’s Tax Exempt Organization Search and the Better Business Bureaus’s Give.org site.

3. Never click on links in emails from sources you don’t know, especially those claiming to be from the Centers for Disease Control and Prevention (CDC) or the World Health Organization.

4. Don’t give your financial information or personal information to anyone you don’t know and don’t trust.

5. If someone you don’t know calls asking for money or personal information, hang up. If you think the caller might be telling the truth, phone the company’s number listed on its website.

6. If you answer the phone and hear a recorded sales pitch, hang up.

7. Don’t succumb to high-pressure sales tactics to make an immediate financial decision. Take some time to think about it, check online reviews or talk to trusted friends and family, especially if an offer sounds too good to be true.

8. Before you agree to a free product trial, research the company and read the cancellation policy.

9. Consult with a trusted friend or family member before making a payment for an unsolicited offer.

10. Trust your gut.

Your Safe Money Show Covid 19 scams 9 5 2020

Labor Day

 Sjoberg & Holmstrom Financial Services and Your Safe Money Show wish you a safe and enjoable Labor Day weekend. We will be closed on Monday September 7th. To leave a message call 320-679-5183.

Your Safe Money Show topics for September 5th

 With it being Labor Day weekend I know how busy you might be but I am hoping you can listen to Your Safe Money Show at 7:30 a.m. on Saturday at 95.5 KBEK. They stream live at kbek.com.

If not listen at the podcast page at yoursafemoneyshow.com at your convenience.

Here's what's on the agenda for the September 5th show.

We’ve talked about scams of all kinds here on the show before, and I don’t want to overdo this topic, but with Covid 19, scammers are playing on people’s fear and they are targeting older people more so than any other age group. So, I want to give you what to watch for with these various scams. Also, if you haven’t heard, The Fed is taking a new approach to inflation and we’ll see what that means for your savings, credit card interest and mortgage rate. And what is the FICO Resilience Index, and how will it affect your credit?

Medicare 101

 If you're getting close to your 65th birthday and you have questions about Medicare, call me for an appointment and I'll explain "Medicare 101" to you.

Call 320-679-5183, there's no cost or obligation.

When to retire

 The question I get from many of my clients is "when should I retire"? Well some choose an age like 62 or 65. Some have a financial goal, like when I have a million dollars in a retirement account. I have a check list, if you have a handle on these things, you might be ready to retire. If you know what your expenses will be and also know you have enough income to cover these costs. If you've eliminated debt, having low or no debt allows you to use your savings and retirement income for current expenses. Having an emergency fund is especially important in retirement. Can you afford health insurance? Do you have a social network outside of your job.? And do you know what you want to do in retirement? Having the retirement you want and deserve takes planning, call me for a no cost, no obligation appointment at 320-679-5183 or go to yoursafemoneyshow.com.