Highlights for November 24 Your Safe Money Show

Aid and attendance are a benefit for older veterans to help pay for long term care and often time eligible folks aren’t aware of what’s available. I have information on that today.

Not everyone realizes that if you collect your Social Security benefits and work before your full retirement age you can lose money if you make over a certain threshold, I’ll explain.

And if you want a great price on airfare, I’ll have the best time to shop so you can save money.

Closed November 22 and 23

Everyone at Sjoberg & Holmstrom Financial Services and Your Safe Money Show wish you a Happy Thanksgiving!
The office will be closed November 22 and 23 and will reopen on Monday November 26 at 8 a.m.
You can leave a message at 320-679-5183.

Mnsure 2019

Medicare awareness

State officials are warning Medicare beneficiaries not to be fooled by deceptive advertising and sales offers during the current shopping season for health plans.
One of the big concerns is that beneficiaries recognize what information is coming from Medicare or a legitimate insurance company or agent, vs. information that might be from a scam artist trying to steal your money. 
Open enrollment for Medicare is on now until December 7th. The Commerce department offered a series of tips for consumers.
When looking for Medicare on the internet, make sure you go to the official website at Medicare.gov. Don’t be fooled by private websites with similar addresses such as Medicare.com, Medicare.org and Medicare.net .
Medicare shoppers should read the fine print and not be deceived by appearances, since some advertisements and sales materials may look like they are from Medicare. People who think they have received a Medicare advertisement or sales solicitation that’s deceptive, misleading or a scam can report it to the Minnesota Commerce Department by e-mail at protection@state.mn.us or by phone at 1-800-657-3602.

Your Safe Money Show Insurance and deer collisions 11 17 18

Highlights for November 17 Your Safe Money Show

I hope you can listen this Saturday morning (November 17) at 7:30 for another edition of Your Safe Money Show.
Here’s the question, is it better to hit the deer or try to swerve to avoid hitting the deer? How your car insurance will pay for your vehicle repairs or replacement has a lot to do with the collision itself. I’ll explain.
Also, I’ll have moves you can make now to boost your 401(k) savings going into 2019.
And with Thanksgiving coming up this week I have suggestions on how to handle financial conversations that might come up at the dinner table.
Tune in at 95.5FM KBEK. They stream live at kbek.com.
Hear recent shows by going to the podcast page at yoursafemoneyshow.com.

Ultra FICO

Today your credit score determines how much you’ll pay for insurance, a mortgage, rent, a car loan, and more. And FICO is one of the main scoring systems used. 
Consumers with low credit scores may soon be able to raise their number under a new scoring system that measures how responsibly they manage their checking or savings accounts—not just their payment history. The new score, called Ultra FICO, should become available in the summer of 2019.
 Consumers will have to opt in. If they do, data about their banking behavior—including the length of time their bank accounts have been open, the frequency of activity, and evidence of saving—in addition to their timely payment practices, will be used to calculate a score. The company says, by figuring credit scores this way, the range of people who qualify for credit could grow. 
This is really geared for someone with a low score if you already have a good credit score this Ultra FICO would be of no benefit to you. 
A policy analyst for Consumers Union says while incorporating bank transaction data into credit scores could help some consumers raise their credit scores, consumers should exercise caution before opting into this program, and government regulators should keep a close eye on its implementation.