Saving bond values

 I have a website for you to use if you have savings bonds and you want to know the current value. I had a client this week that had several EE bonds that she’s had for 30 years, and they have matured and we discussed a strategy for when to cash these because the interest is considered “income” and we didn’t want to mess up her cost of healthcare and the tax implications as well.

https://www.treasurydirect.gov/BC/SBCPrice

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Your Safe Money Show 1-28-23 Highlights

 Your Safe Money Show topics for January 28th at 8 a.m. Todd will have the best things to keep in a safe deposit box, this is updated information for 2023. Did you know we form “money mindsets” at an early age, he will explain. And a recent survey gives us clues to whether we are rich, what actually defines if you're rich, we’ll find out. KBEK streams live at kbek.com. Hear recent shows at yoursafemoneyshow.com.

Updated website

 If you get a chance check out our updated website at yoursafemoneyshow.com.

Definition of Federal Funds Rate

 Investopedia had terms that stood out in 2022 and here's one we all heard often the term federal funds rate it refers to the target interest rate set by the Federal Open Market Committee (FOMC), and it’s the rate at which commercial banks borrow and lend their excess reserves to each other overnight. On June 15, 2022, the FOMC announced the federal funds rate would be going up by 75 basis points, the biggest hike since 1994. It raised the federal funds rate another 75 basis points three more times in 2022, and doesn’t appear to be finished. This rate-rising environment is new to many younger investors, who are now witnessing how the Fed sets monetary policy and how that impacts their own wallet. For more information go to yoursafemoneyshow.com.

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Your Safe Money Show January 21st topics

 Here's what we're working on for Saturday's (January 21st) Your Safe Money Show. As tax time is coming closer, Todd will have red flags that can trigger a tax audit. Last year a new rule went into effect that if you’re retiring early, it could mean more money in your pocket, Todd will explain. And Brushing scams, what are they and how can we protect ourselves from them? Listen at 8 a.m. at Nice 95.5FM KBEK. They stream live at kbek.com. Hear recent shows at yoursafemoneyshow.com.

Living longer

 There’s a new Nice RX study that ranked all 50 states based on life expectancy and Hawaii came in at #1 with the longest life expectancy at 80.7 years. To give perspective the National average is 76.4 years. Mississippi came in dead last at 71.9 years. Minnesota also came in at #3 with a life expectancy of 79.2 years. The difference between men and women has widened. Now, men in America have an average life expectancy of 73.5 years, while women can expect to live until age 79.3. We need to plan for living longer and Todd can help you with the "planning" process. Call 320-679-5183 for a no cost, no obligation appointment.

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MLK observance

 Sjoberg & Holmstrom Financial Services in Mora and Your Safe Money Show will be closed on Monday January 16th in observance of Martin Luther King Day

Saturday January 14th Your Safe Money Show highlights

 Coming up on this Saturday's (January 14th) edition of Your Safe Money Show. The Secure Act 2.0 has been signed into law, Todd will talk about the catch-up contributions improving with that. Also, there are things you need to consider if you get an inheritance, he’ll explain. And he’ll demystify car insurance. Listen at 8 a.m. at Nice 95.5FM KBEK. They stream live at kbek.com. Hear recent shows at yoursafemoneyshow.com.

Legacy contact

 I recently saw a cool deal for mainly iPhone users, it’s called a legacy contact. Last year, Apple launched this new legacy contact feature, which allows you to designate a trusted person to be able to access your phone should you die. It was mostly of interest to techies as an iPhone trick, but it ended up something that estate planning professionals saw value in. Data that a legacy contact can access include photos, contacts, reminders, files and health data. The process is as simple as clicking a few buttons in your phone settings, under passwords and security, and then either printing the code or sending it to the person you picked to store how they wish. Instead of the previous process of filing legal paperwork and waiting for approval, your designated person just needs the code that’s generated and a copy of a death certificate, and then they can open your phone and see what you see. Alphabet’s Google has a process you can use with Android phones, through its inactive account manager, but it may still require some paperwork. In this day and age of technology this might be a good fit. We are using “cloud services” more and more and some people use their phones to handle all manner of their financial business, so this might be something to look into.

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Highlights for January 7th YSMS

 Coming up on this Saturday's (January 7th) Your Safe Money Show. Todd will have reasons you'll blow up your retirement plan. How to build credit when you don't have any, where do you start? And he'll have the risks of "Buy Now Pay Later" programs. Listen at 8 a.m. at Nice 95.5FM KBEK. They stream live at kbek.com. Hear recent shows at yoursafemoneyshow.com.

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