October is Financial Planning Month

 If you didn’t know October is Financial Planning Month and that’s really a theme of our show every single week. Let me share the history of Financial Planning Month. Financial planning as a concept has been around for a long time, but not as we know it today. When Loren Dunton set up the Society for Financial Counseling Ethics in 1969, or when the first graduating class of the College of Financial Planning graduated in 1973, financial planning was very different. It was centered around selling limited partnerships, which came to an end with the Tax Reform Act of 1986. However, financial planning re-emerged — all thanks to Richard Averitt III. The certified financial planner gave new meaning to financial planning, this time with a focus on who the client is and what their needs are. Financial planning, as we know it now, includes investing, tax planning, retirement planning, and basically other ways to get your finances in order and create mindful budgets to ensure a safe and secure future. Getting a step ahead of your spendings and finances is beneficial in the long run and Financial Planning Month is the perfect time to do that. Why is financial planning month important? It reminds us to invest in ourselves: This month is a sign to take a minute from mindless spending and invest some time and money in our future. It creates awareness about financial planning: For young adults who are just starting to earn, this month spreads awareness that the sooner you start the better and time with compounding can be amazing. It also highlights the value of responsibility: Whether or not people choose to participate, it is a reminder that our actions right now determine what our future will look like and creates a sense of responsibility. yoursafemoneyshow.com.

Your Safe Money Show How to save money 10 12 24

Highlights for October 12th Your Safe Money Show

 Coming up on Saturday October 12th Your Safe Money Show. Todd will have suggestions on how to save money, I think we can all use that information. He will also have "windows" when you have the best opportunity to make a Roth conversation. And he’ll have ways to teach your children about money. Listen at 8 a.m. at Nice 95.5FM KBEK. They stream live at kbek.com. Hear recent shows at yoursafemoneyshow.com. also under Your Safe Money on YouTube and Facebook.

Ask for Annuities 101

 Ask for your complimentary copy of Annuities 101. Go to yoursafemoneyshow.com, call 855-226-6639 or stop at 139 Union Street in Mora.

Your Safe money Show What isn't covered by Medicare 10-5-24

 

Highlights for October 5th Your Safe Money Show

 Coming up on this Saturday's (October 5th) Your Safe Money Show Todd will explain what Medicare doesn’t cover. He’ll have easy financial fixes you should take care of. And he’ll have money moves you’ll be thankful for. Listen at 8 a.m. at Nice 95.5FM KBEK. They stream live at kbek.com. Hear recent shows on YouTube at Your Safe Money or by going to yoursafemoneyshow.com.

Medicare tweaks for 2025

 This time of year, as we’re ramping up to open enrollment for Medicare starting October 15th, there’s always some tweaks and changes and there’s one in particular this year I’ll be explaining to my clients and others needing help with Medicare. There’s a New $2,000 annual cap on out-of-pocket prescription costs: Beginning in 2025, people with Part D plans won’t have to pay more than $2,000 in out-of-pocket costs, thanks to a provision in the Inflation Reduction Act of 2022. The $2,000 cap will be indexed to the growth in per capita Part D costs, so it may rise each year after 2025. Part D enrollees will also have the option of spreading out their out-of-pocket costs over the year rather than face high out-of-pocket costs in any given month. This new rule applies only to medications covered by your Part D plan and does not apply to out-of-pocket spending on Medicare Part B drugs. Part B drugs are usually vaccinations, injections a doctor administers, and some outpatient prescription drugs. To find out more you can make a no cost, no obligation appointment by calling 320-679-5183.