Your Safe Money Show Hospital at home 11 28 2020

Highlights for November 28th Your Safe Money Show

 Here's what were planning for our Saturday November 28th Your Safe Money Show. There’s something called “Hospital at Home” and I’ll explain what it is and can it be utilized more in the future. When it comes to retirement planning there’s one surprising factor that seems to be left out and I’ll have everything you need to know about 401(k)’s.

Listen at 7:30 a.m. at Nice 95.5 FM KBEK. Hear recent shows at the podcast page at yoursafemoneyshow.com.

Happy Thanksgiving!

 Everyone at Sjoberg & Holmstrom Financial Services and Your Safe Money Show wants to wish you and your family blessings and look forward to better days ahead.

We are closed on Thanksgiving and on Friday the 27th.

You can leave a message at 320-679-5183.

What NOT to carry in your wallet

 I want to share the worst things you can keep in your wallet or pocketbook. Today if thieves get some of this information, they have the keys to your financial city. This seems like a no brainer but do not carry your Social Security card. Most of us memorize our number from a young age and you seldom would ever have to show your card to anyone. Rarely anyway, so do not carry that card with you. Do not carry a spare house key in your wallet or purse. More than likely your address is in your wallet now they have a key to get in. Store a spare key with a trusted neighbor or hide where you can get at it if needed. I know not as many people use checks today but don’t carry a bunch of blank checks and only have what you will need with you. Many of us have multiple credit cards. It's best to limit how many you have with you. Make a photocopy of the front and back of all your cards and store in a safe place. If they're lost or stolen it’ll be easier to access the information you’ll need. Many retirees still may have old Medicare cards with their Social Security numbers printed on them in their wallets. Carry only your new Medicare card. Medicare has stopped issuing Medicare cards with Social Security numbers on them and replaced them with new paper cards. The new Medicare cards have a number on it that's unique to you. And finally, gift cards. I can see carrying them with you so you can use them on a whim, but they can be lost or stolen and there’s no way to really prove they were yours.

For more information go to yoursafemoneyshow.com at the financial materials page.

Your Safe Money Show Debt after death 11 21 2020

Highlights for November 21st Your Safe Money Show

 Here's what we have planned for this Saturday's (November 21st) Your Safe Money Show. HSA (Health Savings Accounts) have benefits you might not know about, these can work well for the right person. People worry about leaving debt after they die. I'll have what you should know about this. And if you want to add grandchildren to your will here’s what to consider. Listen at 7:30 a.m. at Nice 95.5 FM KBEK. Hear recent shows at the podcast page at yoursafemoneyshow.com.

New generation retirement

 

Cost of Medicare going up

 We have an update about Medicare’s premium going up. Officials announced recently the standard monthly premium for Medicare Part B will be $148.50 in 2021.The $3.90 increase is 2.7% more than the 2020 figure of $144.60, according to information released by the Centers for Medicare and Medicaid Services. The deductible for Part B, which covers outpatient care, durable equipment and some other services, will be $203 next year, up $5 from $198 in 2020. Meanwhile, the deductible for Medicare Part A (hospital coverage), which is per benefit period (which generally starts when you are admitted to the hospital) will be $1,484 in 2021, up $76 from this year’s $1,408.

Medicare Open enrollment continues until December 7th. Call if you'd like to look over your plan 320-679-5183.

Your Safe Money Show Changes to Social Security in 2021 11 14 2020

Highlights for November 14th Your Safe Money Show

 Here's what you can expect on our Saturday November 14th Your Safe Money Show. There are some changes for Social Security in 2021 I’ll go over those changes. The Fed has kept rates near zero. What benefits does that create for your pocketbook? And the refinancing boom continues in 2020 as rates remain low, I’ll talk about that too.

Listen at Nice 95.5 FM KBEK at 7:30 a.m. Hear recent shows at our podcast page at yoursafemoneyshow.com.

We look forward to streaming in the near future.

IRS information

 The Internal Revenue Service will resume sending balance-due notices to U.S. taxpayers this month. The IRS shut several mail processing centers in the spring due to COVID-19, and the backups forced the agency to store millions of pieces of mail temporarily in trailers. Taxpayers will begin seeing updated notices in late October or early November. The notices alert individual taxpayers that they have a balance due and what their payment options are. Some also tell taxpayers that they may be subject to a lien if they don’t pay promptly, and others note that the recipients must pay immediately or face a levy on their state income tax refunds.

The IRS said payment plan options are available for individuals unable to pay immediately, but that interest and penalties will continue to accrue. Some filers affected by the pandemic may be able to avoid penalties if they were subject to circumstances beyond their control. If you need more information go to IRS.gov.

Veterans Day

 

We want to salute all veterans on this Veterans Day. Our office is open today.

Your Safe Money Show Social Media scams 11 7 2020

Highlights for November 7th Your Safe Money Show

 Coming up on Saturday's (November 7th) edition of Your Safe Money Show. For this week's show I am going to give you a guide to retirement planning decade by decade, from your 20’s through retirement. So many people are having a second career in retirement I’ll have tips on how best to do that. And unfortunately, since Covid there are more Social media scams than ever, I’ll tell you what to watch for. Listen at Nice 95.5 KBEK at 7:30 a.m. Hear recent shows at the podcast page at yoursafemoneyshow.com.

Open enrollment information

 We've been getting calls about going to various locations, like we have in the past, to help folks during MnSure open enrollment. We are unable to do this because of Covid restrictions at libraries ect. But we are helping at our office in Mora at 139 Union Street or over the phone. To make an appointment call 320-679-5183.

Open enrollment for MnSure goes until December 22nd and open enrollment for Medicare goes until December 7th.

Spare change

 OK I have a question for you, what do you do with your spare change? A recent survey found that most Americans — 55.5% — let their spare change just sit there and don’t do anything with it. That’s up significantly from a similar survey done in 2016, when only about 38% of respondents said they let their change go to waste. Over the years I’ve known folks that take that spare change after a year or two, they cash it in and use it for a vacation, or other fun purchase. In today’s world they have apps where you can use your spare change for an investment. For example, if you buy a coffee for $3.65, 35 cents will automatically get added to your portfolio via the debit or credit card you’ve connected to the app. Instead of paying in cash, pocketing the coins and then tossing them in the pile on your dresser, you can pay with a card and invest your spare change without even thinking about it. I see this being especially useful for a younger person simply because they don’t use cash very often and this could be a good way for them to save without really trying. They call this Micro-investing and there’s pro’s and con’s like anything, but it is an option to save and put that spare change to good use. For more information go to yoursafemoneyshow.com.

Your Safe Money Show What's free on Medicare 10 31 2020