Your Safe Money Show Best use of safe deposit box 5 28 22

Memorial Day

 Everyone at Sjoberg & Holmstrom Financial Services and Your Safe Money Show wish you a safe Memorial Day weekend. Our office will be closed on Monday May 30th. You can leave a message by calling 320-679-5183.

May 28th Your Safe Money Show highlights

 Here's what's on the docket for our May 28th edition of Your Safe Money Show. Todd will explain, as college enrollment has dropped, there's a push to celebrate students going into skilled trades. Also he'll examine the best things to keep in a safe deposit box and what you might regret having in your safe deposit box. 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.

Bear vrs. Bull markets

 “Bear market” is a term used by investors to describe a steep and sustained market downturn. Technically, it’s a drop of 20% or more from recent highs. The tech-heavy Nasdaq Composite stock index is already in a bear market. Investors commonly apply the phrase to a broad stock index like the S&P 500 or Dow Jones Industrial Average, but it also works for individual stocks.

By comparison, a “bull market” is a period when stocks are surging, which has largely been the case since the Great Recession. The last bear market occurred in February and March 2020, when the S&P 500 slid 34%. However, stocks rebounded by mid-August.

Roth conversions

 On the May 21st Your Safe Money Show we talked about converting to a Roth IRA. Here's a snippet from that show: When you trigger a Roth conversion, you’ll be responsible for paying the tax due on any pre-tax contributions or earnings within the traditional IRA. The benefit here is that if the market has dropped, it’s likely that your IRA value has dropped along with it – so your full value has gone down, and you’ll be paying taxes on the current value (which is lower, due to the market being down). So, in theory, you can convert a larger portion of your IRA in a down market and pay less in taxes than you could in years when the market is up.

To hear the more about Roth conversions go to yoursafemoneyshow.com at the podcast page.

Your Safe Money Show Worst Assets to inherit 5 21 22

May 21st Your Safe Money Show highlights

 Here's what's on the agenda for the May 21st edition of Your Safe Money Show. Todd will have a guide to the FIRE movement. He'll also have information on whether you should consider a Roth conversion while the markets are down. And there are certain assets that are more difficult than others are when inherited. Todd will explain. Listen at 8 a.m. on Saturdays at Nice 95.5FM KBEK. They stream live at kbek.com. Hear recent shows at the podcast page at yoursafemoneyshow.com.