Good Friday

 Sjoberg & Holmstrom Financial Services will be closed Good Friday. 

We wish you all a Happy Easter! Messages can be left at 320-679-5183.

New life expectancy numbers

 I wanted to share a report I found this week that I think is pretty interesting. In the U.S., life expectancy after age 65 is 19.6 years, according to recent Census Bureau data. That means Americans who reach age 65 will live another 19.6 years — or to age 84.6 — on average. The latest annual National Vital Statistics Report, which is issued by the federal government, ranks all 50 states and the District of Columbia according to life expectancy after age 65. Certain states have a much higher average life expectancy than others. Studies have shown that differences in health care, pollution, weather and other regional factors are all important for longevity. I wanted to pass this along because Minnesota was in the top 9 states for longevity. Once you make it to age 65 as a female, they figure you’ll have 21.2 years, males, 18.7 and overall 20 years. Here’s what they said about Minnesota in particular: Minnesota can get cold. Minnesotans know from birth how to bundle up and enjoy their winter wonderland. Plus, Rochester’s Mayo Clinic is ranked as the best hospital in the nation. Perhaps that’s why Minneapolis landed at No. 5 on a recent list of the best places to retire. This report shows the importance of understanding longevity and the role it plays in a thoughtful retirement plan. Go to yoursafemoneyshow.com for more information.

Your Safe Money Show Secure Act 2 0

Highlights for April 9th Your Safe Money Show

 Coming up on this Saturday's April 9th Your Safe Money Show. Todd Sjoberg your host will explain the The Secure Act 2.0. Lawmakers have several proposals that could change retirement savings. It has passed the House and is headed to the Senate. He will also pass along a pre-retirement checklist for that 5 years before you retire. Listen at Nice 95.5FM KBEK at 8 a.m. on Saturdays. Hear recent shows at our podcast page at yoursafemoneyshow.com.

Medicare okay's no cost Covid tests

 Medicare beneficiaries can now get at-home Covid tests at no cost, the government announced Monday.

People with Medicare Part B (outpatient care coverage) — including Advantage Plan enrollees — will be able to get up to eight over-the-counter tests per month for free from participating pharmacies and health-care providers, according to the Centers for Medicare and Medicaid Services.

The initiative comes after Medicare was not included in a January mandate from the Biden administration that private insurers must cover the cost of at-home tests (also up to eight per month). This marks the first time Medicare has covered an over-the-counter, self-administered test at no cost to beneficiaries.

You also can order two sets of four tests for free through Covid.gov. The government website, which is available to all households, requires you to provide only your name and address; no insurance information is needed.

Tax changes for 2022

Standard mileage rates: The 2022 standard mileage rate for business driving rose from 56¢ to 58.5¢ a mile. The mileage allowance for medical travel and military moves also increased from 16¢ to 18¢ a mile in 2022. However, the charitable driving rate stayed put at 14¢ a mile — it's fixed by law.

Your Safe Money Show Social Security Myths 4 2 22