Closing for Good Friday

Sjoberg & Holmstrom Financial Services and Your Safe Money Show want to wish you a Happy Easter!

The office will be closed on Good Friday. You can leave a message at 320-679-5183.

We will be open Monday.

 

Highlights for March 30th Your Safe Money Show

 Coming up on this Saturday's (March 30th) Your Safe Money Show. There’s been a huge settlement on home sale commissions, Todd will have details on that. Spring cleaning is not just for your windows and carpet, you can spring clean your finances too. And Todd will go into detail on how to qualify for the retirement saver’s match. Listen at 8 a.m. at Nice 95.5FM KBEK. They stream live at kbek.com. Hear recent shows at the podcast page at yoursafemoneyshow.com.

Planning?

 

Living longer

 Several weeks ago, we talked about Centenarians and their suggestions on living a happy life. We had some great responses to that show, but some people commented “I don’t see myself living that long”. Again, a Centenarian is someone who is 100 years old or older. Well, here’s a fact for you to consider: The United Nations estimates that there were about 95,000 centenarians in the world in 1990, and more than 450,000 in 2015. At this rate by 2100, there will be 25 million. We are living longer and that’s one of the important factors in the “retirement” roadmap that I use when formulating a plan for a client. I realize none of us really knows how long we’ll live but by looking at how long your parents and grandparents lived and your current health we can speculate that piece of the puzzle. We also factor in the when and how you’ll take your Social Security benefits. What will your tax situation be? What other sources of retirement income do you or will you have? How much debt will you have? How much will you pay for healthcare? What will your cost of living be? You get the idea. And to be honest because you could live 30 maybe even 40 years in retirement having enough income to last all the way through your retirement is what I am passionate about helping my clients achieve. Safe Money Strategies can offer lifetime income. In fact, when the markets rise you get the gains but when they fall you stay the same. You never lose your principle. And you can get a reasonable rate of return. Safe Money Strategies can fill a gap you may have. Go to yoursafemoneyshow.com for details.

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March 23rd Your Safe Money Show highlights

 Here's what we're planning for our March 23rd Your Safe Money Show. Todd will have jobs that offer pensions. How long to keep tax records and other documents. And how much can you spend in the "Go Go" years and still be okay financially? Listen at 8 a.m. Listen at Nice 95.5FM KBEK. They stream live at kbek.com. Hear recent shows by going to yoursafemoneyshow.com.

Gas prices

 Gas prices are up and there are several reasons why. OPEC countries announced recently they were extending oil production cuts, which puts upward pressure on oil and gas prices. And crude oil was trading higher too. In the Spring refineries switch to more expensive summer blend gas. So many factors play into higher prices. Budgeting for the fluctuations is important. Go to yoursafemoneyshow.com under the financial materials page to get your free cost analysis sheet to help you keep track of your spending.

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Your Safe Money Show content for March 16th

 If you are planning on selling your home Todd will have essential tips to get your home ready to sell. Medicare has been in price talks with drug companies, he’ll have an update on the progress. And in estate planning: who needs a trust and who doesn’t? Listen at 8 a.m. at Nice 95.5FM KBEK. They stream live at kbek.com. Hear recent shows at yoursafemoneyshow.com.

Cost and duration of appliances

 Most of us at one point or another have had to replace a major appliance in our home. And if you have had to do this in the last 5 to 10 years or so, do you feel like they don’t last like they used to?  A housing market research firm has found that appliances are becoming more modern and high-tech but they also don’t last as long. From 1995-2005, the average homeowner replaced appliances consistently every 12 to 13 years. Today it is every eight to nine years. And at the same time they are spending way more on the appliances too. Homeowners are purchasing appliances with more bells and whistles, but which become obsolete sooner and have more aspects to repair versus appliances years ago. Appliances are expensive and depending on circumstances, if you need a repair person to come out, it has to make sense that the bill for parts and labor aren’t more than the value of the appliance. What can you do to help yourself out if you need to fix or replace an appliance? First use your emergency fund to pay for the purchase or to have it fixed. If you don’t have an emergency fund, some retailers offer a trade where they take some off your bill for your old appliance. There are places that fix old appliances and sell them cheaper than new. If you can wait until the appliance goes on sale, there are seasonal times of the year that are cheaper than others. Bottom line budgeting for having to replace an appliance is more important than ever these days.

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Highlights for March 9th Your Safe Money Show

 Todd will have costs to include in your retirement budget. This is a major foundational component to any solid retirement plan. Also, we all know it’s important to be careful when it comes to our Social Security number. He will have the riskiest places to give your Social Security number. And as our parents get older,(or maybe we are becoming those parents) he has a step by step guide to care for them.

Medicare 101

If you are having your 65th birthday this year ask for your free copy of Medicare 101. When you get your red, white and blue card in the mail call Todd for a no cost, no obligation appointment at 320-679-5183 or go to yoursafemoneyshow.com.
 

Cost of living 1962

 We found an interesting graphic this week that says “1962 Cost of Living” and lists living and food expenses from 62 years ago, and I thought we could go down memory lane a bit here. Under the “living” category a new house averaged around $12,550. Average income was $5,556, a new car $2,924, average rent was $110 a month. A movie ticket was a dollar, gasoline .27 cents per gallon and a postage stamp was 4 cents. Looking at the cost of food, granulated sugar for a 10 pound bag was .89 cents. A gallon of whole milk was $1.04. Ground coffee was .85 cents a pound, bacon was .69 cents a pound, a dozen eggs were.32 cents, hamburger .40 cents a pound and fresh baked bread was .21 cents a loaf. Now as nostalgic as this sounds, let's reiterate that the average income was $5,556 a year. It’s all about perspective. One of our biggest expenses today is health insurance. Why did employer based health insurance take off in the 1950s? Well in 1954 the Internal Revenue Code made it clear that employers' contributions for health benefit plans were generally tax deductible as a business expense and were to be excluded from employees' taxable income. We all know health insurance can be expensive today. If you need help through MNSure or Medicare options Todd can help. Call 320-679-5183 or go to yoursafemoneyshow.com.

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