How Life Insurance Made Jim Harbaugh, Not Nick Saban, the Highest Paid Coach in the NCAA

Most that follow collegiate athletics are familiar with Nick Saban, arguably the most successful head coach in NCAA history. Heck, even if you don’t follow college sports, Saban has become a figure that is well known throughout the country for his Alabama teams and their ferocious defenses. But did you know that despite his track record on the field, he is not the highest paid coach in the NCAA? That distinction belongs to Jim Harbaugh, head coach of the Michigan Wolverines. Despite not having reached the pinnacle of the sport yet in terms of national championships, Michigan made Harbaugh the highest paid head man in the country in August of 2016. The avenue in which Harbaugh and the University accomplished this is not commonly seen in professional or amateur sports. After his first season with the Wolverines, Harbaugh and the leaders at Michigan entered into a Split-Dollar Loan Agreement under which the University agreed to make seven loan advances, of ...

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The Secret Your Cell Phone Carrier Does Not Want You To Know

These days we look to save on our bills where ever we can.  One area to look at is our Cell Phones.  What if I told you that you could save 50%-75% off your bill?  Three of the big carriers, AT&T, Sprint and T-Mobile all have invested in secret sub-brands to try and attract the consumers who are more price sensitive.  What they do not tell you is they use the same network as their parent company. Sprint has Boost Mobile.  T-Mobile has GoSmartMobile and AT&T has Cricket Wireless.  You use the same towers, get the same service and generally only pay $25-35 per month. So what about those of you on Verizon?  Well they will not tell you outright, but they have a deal with Tracfone.  Verizon does not want anyone knowing they have this sub-brand as they feel it will diminish the Verizon brand.  Tracfone has a service called Total Wireless, which runs on the Verizon 4G network ...

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Why Are You Such A “Poor” Millionaire

As I continue to help more and more people approach the end zone of making work optional (a.k.a. – retirement) it continues to shed light on just how little one million dollars seems these days.    It was once believed that the ultimate pinnacle for wealth building was to have one million liquid dollars, but with the uncertainty in the bond markets, stock markets, and real estate markets, it has baby boomers about to retire shaking in their boots about being sacked before they score a touchdown. Many people hear this notion being thrown about called the 4% percent rule.   This rule was initially laid out by a financial planner William Bengen.   He had back tested a variety of withdrawal rates using various historical rates of return and found that 4% withdrawal with the absolute highest rate that held up over a period of 30 years. So, if you are a “millionaire” with $1,000,000 of starting capital at ‘work optional’, you ...

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5 Key Points To Know When You Decide To Refinance

With the Fed recently raising interest rates, people have already started to write and call me about whether or not it is still a good time to refinance.  You will likely see more offers from your current mortgage company, broker, or bank looking to get you locked in before the Fed raises rates again in 2017.  Here are my smart money moves to five key points to know when you make a final decision about whether a refinance is good for your property. There Is NO Rule Of Thumb — I love these random articles out there that say your mortgage rates needs to be down by a certain percentage for a refinance to make sense. In fact, Investopedia recently wrote, “The typical rule of thumb is that if you can reduce your current interest rate by 0.75-1%” This makes very little sense to me as this is going to be a math equation because all refinancing costs money.   What you are ...

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The Rules For Retirement Are Changing And You Better Be Listening

I am sure you have heard that phrase from many financial professionals over the years.  This time I want you to really hear it THE RULES FOR RETIREMENT ARE CHANGING!!  Hopefully I have your attention now because what I am about to tell you will scare the hell out of you.  Whether you are in your 40s or 50s you have been hearing that you need to save for retirement in traditional vehicles such as 401ks, IRAs, and sometimes someone mentions Roth IRA.  The reason you are told this is because of the tax deferral and the amount of money you can grow your nest egg for retirement. If you are a business owner or an employee of a company what I am about to say is a very bold statement and I will take heat for it.  Your investment guy, your Certified Financial Planner™, your insurance representative, your CPA, your estate planning attorney and anyone in between I believe ...

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Ted Jenkin Helps You Invest With Donald Trump As President

How to Get Rich w/ oXYGen Financial – Ted Jenkin | Atlanta Money Guy Topic: Ted Jenkin from Oxygen Financial stops by to help you invest the best during the Trump administration. Taped 12/13/16 Listen every Tuesday morning at 8:00 a.m. on ROCK 100.5 | Atlanta’s Rock Station to “Your Smart Money Moves” with The Rock 100.5 Morning Show and oXYGen Financial. Ted Jenkin, CFP® and Kile Lewis, CRPC® are the founders of oXYGen Financial, and our chief financial officers. All your money questions answered Sign Up For His Fun & Casual Financial Newsletter: http://eepurl.com/eBqro Breathe Easier with oXYGen Financial: http://www.oxygenfinancial.net ...

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The One Time 10% Tax You Should Know

Many Americans are wondering how the President Elect Trump tax plan will affect the type of mutual funds and ETF’s that they buy going into 2017.    One of the items bandied about in a serious way by President Elect Trump is to bring in trillions and trillions of dollars by repatriating money from companies’ accumulated offshore earnings through a one-time 10% tax to bring those dollars back to the United States.   This tax is a substantial reduction from the current 35%, which would mean a massive tax save to large corporations. The thought process behind this strategy is to get some 2.6 trillion dollars (source Joint Committee On Taxation) back into America.  If that money is returned into the hands of many large U.S. Multinational corporations, the philosophy is that jobs would follow quickly behind this influx of money and perhaps a throwback to the heydays of manufacturing. However, the capital influx could heavily influence where you invest your money ...

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Are Charitable Deductions Going To Be Wiped Out Under Trump?

For many American families who prepare for year end tax planning, no discussion is complete without talking about charitable contributions.   Many families make charitable contributions by tithing a percentage of their family income, giving cash to local charities, or they end up taking non-cash items from their household and donating them to a worthy charity.  With the potential shake up in the tax law under a Trump regime, will you have your charitable contributions completely wiped out in 2017? First things first.   You don’t really need to worry about charitable contributions if you don’t itemize your deductions at all.  Today, a single filer has a $6,300 standard deduction and a married couple has $12,600 for a standard deduction. In addition, you get to deduct you, your spouse, and your children as personal exemptions on your tax return.  The suggested policy going forward would be to wipe out the personal exemptions and offer a larger standard deduction of $15,000 for a ...

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