Social Security benefit dates

 A financial note for you today, if you receive Social Security benefits: In 2022, Social Security recipients will see their monthly checks grow by 5.9% But when exactly will you receive the first of those fatter checks?

As it turns out, it depends on your birth date — specifically, the number of the day on which you were born. For example, if your birthday was June 3, 1955, the important number to remember is “3.” Although the COLA kicks in for the entire program in January, your own first check that reflects the 2022 COLA will arrive on the following schedule:

If your birthday falls on days 1 through 10: You will receive your payments on the second Wednesday of each month, meaning you will receive your first payment with the 2022 COLA on Jan. 12. If your birthday falls on days 11 through 20: You will receive your payments on the third Wednesday, meaning you will receive your first 2022 payment on Jan. 19. If your birthday is on days 21 through 31: You will receive your payments on the fourth Wednesday, meaning you will receive your first 2022 payment on Jan. 26. There are a couple of exceptions to this rule, however. If you started receiving Social Security benefits prior to May 1997, or you receive both Social Security and Supplemental Security Income (SSI) benefits, you will receive your Social Security payment on the third of each month.

If you have questions call 320-679-5183.

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Highlights for November 27th Your Safe Money Show

 Coming up on our Saturday November 27th Your Safe Money Show. I'll be talking about how to handy holiday travel and what to do if you lose your wallet. Also I have end of the year ideas if you're near retirement or in retirement, when it comes to minimizing your taxes. Tune in at 8 a.m. at Nice 95.5 FM KBEK. They stream live at kbek.com. Hear recent shows at our podcast page at yoursafemoneyshow.com.

Happy Thanksgiving!

 Sjoberg & Holmstrom Financial Services and Your Safe Money Show want to wish you a Happy Thanksgiving! We will be closed Thursday and Friday the 25th and 26th. You can leave a message and we'll get back to you on Monday the 29th.

Social Security question

 I’ve been answering questions about Social Security lately and here’s another: Are Social Security numbers reused after a person dies?

No. They do not reassign a Social Security number (SSN) after the number holder's death. Even though they have issued over 453 million SSNs so far, and they assign about 5 and one-half million new numbers a year, the current numbering system will provide them with enough new numbers for several generations into the future with no changes in the numbering system.

We have "Your Guide to Social Security", if you'd like your free copy stop by our office at 139 Union Street, Mora, or call 320-679-5183 and we'll mail it to you.

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Your Safe Money Show topics for November 20th

 Here's what we're working on for this weeks (November 20th) Your Safe Money Show. This week you may have seen in the news that the cost for Medicare Part B went up 14.5%, I will go into detail about that cost increase. Also, when your health insurer won’t pay a claim what should you do, I have ways to get that decision reversed. And understanding Social Security benefits before you pull the plug is so important, we’ll go over that too. Listen at 8 a.m. at Nice 95.5FM KBEK. They stream live at kbek.com. Hear recent shows at our podcast page at yoursafemoneyshow.com.

Social Security numbers

 I’ve had more than one person ask me about Social Security numbers and this comes right from the Social Security site ssa.gov. Is there any significance to the numbers assigned in the Social Security Number?

The answer is Yes. Originally, the first three digits are assigned by the geographical region in which the person was residing at the time he or she obtained a number. Generally, numbers were assigned beginning in the northeast and moving westward. So people on the east coast have the lowest numbers and those on the west coast have the highest numbers. The remaining six digits in the number are more or less randomly assigned and were organized to facilitate the early manual bookkeeping operations associated with the creation of Social Security in the 1930s.

Beginning on June 25, 2011, the SSA implemented a new assignment methodology for Social Security Numbers. The project is a forward-looking initiative of the Social Security Administration (SSA) to help protect the integrity of the Social Security number (SSN) by establishing a new randomized assignment methodology. SSN Randomization will also extend the longevity of the nine-digit SSN nationwide.

Protecting your Social Security number is key in a world where identity theft is a huge problem. Remember to Leave Your Card at Home. Shred Mail and Documents with Personal Details. Don't Use Your SSN as a Password. Don't Send Your SSN via an Electronic Device Don't Give It out to Strangers.

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Closed on Veteran's Day

 Sjoberg & Holmstrom Financial Services and Your Safe Money Show would like to thank all our veterans for their service. Just a note our office will be closed for Veterans Day. You can leave a voice message at 320-679-5183 and we will get back to you Friday morning when we open at 8.

Yet another scam to be aware of

 I wanted to warn you this morning, unfortunately, of another new scam targeting people who post on Facebook or Craigslist. Whether you’re trying to sell things or find a lost pet, scammers are trying to get your information. The scammers contact you and say they want to buy the item you’re selling — or that they found your pet. But before they commit to buying your item, or returning your pet, they hesitate. They might say they’ve heard about fake online listings and want to verify that you’re a real person. Or they might say they want to verify that you’re the pet’s true owner.”

At that point, the fraudster sends you a text message with a Google Voice verification code, asking you to give them the code. Once you do so, the crook uses the code to create a Google Voice number linked to your phone number.

The scammer can use the number to conceal his or her identity while ripping off others. Or scammers may try to get other information about you, so they can tap into your accounts or create accounts in your name. The FTC urges you never to share any verification code — including one from Google Voice — with anyone you have not contacted first. If you have already fallen victim to the scam, the FTC says you can go to Google and follow the steps to reclaim your number.

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November 6th Your Safe Money Show topics

 Your Safe Money Show is heard at Nice 95.5 FM KBEK Saturday's at 8 a.m. On this weeks show (November 6th) we'll look at minimizing taxes when you inherit money. Also, it’s so important that someone knows where your money is, in case something happens to you. I’ll go into detail about that. And I’ll have the best money moves for November 2021. If you can't listen live go to our website yoursafemoneyshow.com to the podcast page and hear recent shows there.

MnSure information

 MnSure open enrollment is underway and runs to December 15th if you want your insurance to start or continue January 1st. Otherwise open enrollment for MnSure continues to January 15th but will then start on February 1st. Call 320-679-5183 if you want help with your health insurance. Sjoberg & Holmstrom Financial Services is located at 139 Union Street in Mora. For more information go to yoursafemoneyshow.com.

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