September 2 Your Safe Money Show highlights

 Saturday September 2 Your Safe Money Show has Todd talking about reasons you shouldn’t retire, and tips to successfully semi-retire. And the reality is there are some hard parts to retiring, like boredom and other issues, he will explain. Listen at 8 a.m. at Nice 95.5FM KBEK. They stream live at kbek.com. Download the Nice 95.5FM app to your phone. Go to yoursafemmoneyshow.com to hear recent shows.

Best state to retire

 You know many people feel Florida is the best state to retire. But according to a recent Bankrate study Iowa is the best state based on Affordability (40%),Well-being (25%), Health-care quality and cost (20%), Weather (10%), and Crime (5%). Iowa’s biggest draw for retirees is its affordability. Since most retirees live on a fixed income, lower housing costs can help them stretch their dollars further than other states. According to Redfin’s data, as of July 2023, the national median home price is $422,137. But Iowa’s median home price comes in much lower at $232,200. Ultimately, where you choose to retire will depend on what’s most important to you. While affordability may rank highly on your list of priorities, you may also want to consider other factors, such as what activities you’ll have access to and whether you want to be close to family. And remember to consider how a place may change over time. You have to make a decision not only about the way things look today, but whether a place is going to be sustainable and less expensive over the long term. yoursafemoneyshow.com.

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Highlights for Your Safe Money Show for 8-26-23

 Here's what's planned for Your Safe Money Show for August 26 at 8 a.m. on Nice 95.5FM. By the way they stream live at kbek.com. You can download the Nice 95.5 app too! Did you know if you find gold coins, or other valuables, the tax man will want his cut. Todd will explain. 401(k)’s can have fees and penalties and he’ll share ways to avoid those. And there are things you and I can do to help (those of us over 50) to live longer and healthier lives. You can hear recent shows by going to yoursafemoneyshow.com.

Medicare Open enrollment

 Just a reminder Medicare Open enrollment starts October 15th and we are setting appointments, feel free to call 320-679-5183 to meet with Todd.

Scammers after storms

 In Mora on the 11th there was a bad storm and there was lot’s of damage, mainly trees ect. But I wanted to warn you about scammers after storms. And I heard from a friend that her sister had a scam call on that Saturday after the storm, that shows how quick they are. Here’s how a typical roof scam works: After a storm hits your area, you receive a phone call or a knock on the door by someone who claims they are a roofing contractor. The scammer will pressure you to sign a contract on the spot or pay upfront. They will often offer to inspect your roof, but this is a scam, too — once up there, they often create even more damage so they can tally up a larger bill. Be wary of storm scammers pretending to be your insurance company requesting personal information over the phone. Only provide personal information if you have picked up the phone and made the call yourself. Storm scammers may tell you they’ve been sent by your insurance company, but your insurance company will alert you before a contractor or other worker is sent. Other common restoration scams include sub-par work and materials, price gouging and advance payment for work that is never completed. yoursafemoneyshow.com.

Your Safe Money Show August 19th highlights

 For the August 19th Your Safe Money Show, Todd will be touching on a couple Social Security topics . One is about what the COLA will possibly be coming up in October and Social Security is celebrating its 88th birthday and to celebrate we’ll have mistakes to avoid. Now that’s a gift that will keep on giving right? And credit card debt for consumers is at a 10 year high, what can you do to help yourself?

Listen at 8 a.m. at Nice 95.5FM KBEK. They stream live at kbek.com or you can download the app Nice 95.5FM. You can also go to yoursafemoneyshow.com to hear recent shows.

Warren Buffett advise

 I think we all know who Warren Buffett is and he likes to share simple but profound financial wisdom. These are ways we waste money. Neglecting Personal Development: He says the best investment you make is in yourself. Enhancing skills and education can boost your earning potential. Remember knowledge and abilities are assets no one can take away from you. Relying on credit cards: He says ideally you pay off your cards every month otherwise those high interest rates add up quickly. Needless spending can lead to credit card debt. Frequenting Bars and Pubs: Spending on social activities like drinking at bars can add up. Opting for more affordable social gatherings, like home get-togethers, can help save significantly. Chasing the Latest Technology: New gadgets may be tempting, but often, last year’s model serves just as well. Buffett himself has a history of sticking to functional rather than flashy tech. It’s important to assess if the latest upgrades genuinely provide added value for the price. Buying New Cars: Cars are notorious for their rapid depreciation. Buffett recommends buying pre-owned cars and holding onto them for as long as they’re reliable, instead of falling for the allure of the new models. Unnecessary Subscription Services: Subscription services, if not carefully monitored, can become a financial drain. Review these regularly and cancel those that don’t provide value. Regular Nights Out: While socializing is essential, frequent nights out can be a significant expense. Opting for budget-friendly alternatives like home-cooked meals and movie nights can cut costs considerably. Gambling: While gambling might seem like a shortcut to wealth, Buffett emphasizes the importance of understanding the odds. He urges people to make financial decisions that favor their long-term wealth accumulation, not momentary thrills. Smoking: Smoking, beyond its health implications, is a costly habit. Quitting can lead to a significant boost in your personal budget.

Why are you still working 8-12-23

 

Topics for August 12th Your Safe Money Show

 Here's what were planning for this Saturday's (August 12th) Your Safe Money Show. Todd will answer the question “why are you still working”? He’ll also have factors to consider before cashing out a 401(k). And we all know how important your credit score is and he has ways to increase your score right now. Listen at 8 a.m. at Nice 95.5FM KBEK. They stream live at kbek.com. You can now download the app Nice 95.5FM. To hear recent shows go to yoursafemoneyshow.com.

If you are wondering about a life insurance policy

 If you're looking for an unclaimed life insurance policy benefit, check out https://insurance.va.gov/UnclaimedFunds, which is managed by the U.S. Department of Veterans Affairs.

You may also want to consult https://eapps.naic.org/life-policy-locator, a website run by the National Association of Insurance Commissioners. If you're wondering whether a life insurance policy is out there, that might have money owed to you, you would probably find it in this database.

Advice from a 102 year old

 Food for thought from Gladys McGarey, she’s 102 years old, she’s a doctor and she still hasn’t retired. She's beaten cancer, gone through a divorce, and has seen a lot of friends and family pass away. But she still greets each day with optimism. She just published a new book called "The Well-Lived Life" and offered up her top advice for EVERY DECADE of your life . . .

Your Twenties: Use them to grow up a little, but also to find what you're passionate about. Quote, "Your twenties are a time when you start to get serious. You have to put your energy into where you want to go. It's about finding your juice." She says "juice" means discovering your purpose in life.

Your Thirties: Don't get too stuck in your ways. People tend to settle into their habits by their thirties. Or, you might feel like you still don't have things figured out yet. Either way, don't feel like you can't make a change. Quote, "There is still so much to do and so much to reach for. Life doesn't truly begin until your forties."

Your Forties and Fifties: If you can figure out how to take "control" of your life in your forties or fifties, they can be the best years of your life. Don't worry about keeping pace with other people. Just lean on your experience and focus on what's important to you. It's also important to leave hurtful things in the past.

Your Sixties and Seventies: Realize how wise you are and use that experience to keep moving forward. 70 used to mean you were "old," but not anymore, especially from the perspective of 102-year-old. Quote, "There's so much that is still there for you if you look for it."

Your Eighties and Nineties: Remember you can still change almost anything you want to and find new things to explore. Realize your inner child is still in there and keep livin'. She says a happy life is about connecting with your "inner core" and "inner self" no matter how old you are. Quote, "If we do this, we will be exactly where we should be, in each decade of our lives."

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Highlights of Your Safe Money Show August 5th

 Coming up on this Saturday's (8-5-23) Your Safe Money Show. Todd will have how to estimate your Social Security income in retirement. Also, maybe you’ve heard of “Fednow", it’s the government's first instant payment service. He will have details on that. And the IRS is, for the most part, no longer making unannounced visits to taxpayers. Listen at 8 a.m. at Nice 95.5FM KBEK. They stream live at kbek.com. Hear recent shows at yoursafemoneyshow.com.

Keep working or retire?

 Are you starting to wonder how long you want to keep working and when you might want to retire? Call for a no cost, no obligation appointment with Todd Sjoberg. Ask for our Safe Money Kit to get the ball rolling. Call 320-679-5183 or go to yoursafemoneyshow.com.

Relationship study

 When you're in a committed relationship, some things can be combined . . . and others should remain separate. According to a new study out of Indiana University, one secret to a longer, happier relationship may be consolidating your finances. The study followed 230 engaged or newly married couples across two years. Some couples were asked to keep separate bank accounts . . . others were told to open a joint bank account . . . and a third group could choose for themselves. In the end, the couples who opened joint bank accounts reported significantly higher relationship quality than those who kept separate accounts. The researchers believe this shows that merging finances leads to "aligned financial goals, increased transparency, and a shared understanding of marital responsibilities."