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Five Money Moves To Make When You Turn 50

Recently, I had the opportunity to experience something really special.  Several of my college roommates were turning 50 years old, and there was a multiple person birthday gathering in Washington, D.C. that I attended.  As we reminisced about the good old days in college and I watched their children run around (most of them six to eight years old), it occurred to me that my very own friends are going to be starting down the backstretch towards retirement.  It’s hard to imagine that for some of them they will be 65 years old when their kids either get into college or graduate college, so does this mean they will take a different path to retirement? Either way, there are smart money moves you should be making when you turn 50.  I know this first hand because the two co-founders of oXYGen Financial (Kile Lewis and myself) both turn the age of 50 this year.   While we started oXYGen Financial to ...

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The Best Financial Advice I Ever Got

We asked financial experts to tell us the piece of guidance that has made the biggest difference in their lives. There’s no shortage of financial advice out there. But what advice has resonated most with the people in the business of doling out financial advice or teaching finance? What advice did they receive that has changed their lives for the better? Invest 2% of your income in you When we think about investments, we often direct our attention to categories such as stocks, bonds and real estate. What we often don’t think about is our most valuable asset: our ability to earn an income and to make that income grow faster. Almost 20 years ago, I met a successful business owner who gave me a simple lesson: Invest 2% of everything you earn annually back into your ability to grow your income. What does this mean exactly? Investing in you is like diversifying your portfolio of investments. You might take ...

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These tips will help you max out your retirement contributions this year

As the calendar crosses the mid-year mark, are you on track to reach your retirement savings goals? The IRS has raised the limits for what you can put away in pre-tax retirement savings account this year. That means you can sock away as much as $19,000 in your 401(k), 403(b), Thrift Savings Plan and most 457 plans, up from $18,500 in 2018. You can also save as much as $6,000 in an IRA, up from $5,500 in 2018. If you’re age 50 and over, you can put in an additional $6,000 in your 401(k) and other employee plans and another $1,000 in your IRA. Even if your personal savings will be nowhere near those limits, now is a great time to check on whether your savings rates will get you to your goals for this year and beyond. Read full article here: ...

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Mortgage Rates The Lowest In One Year: Is It Time For You To Consider A 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 2019.  Here are my smart money moves for three 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 need 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 ultimately ...

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Atlanta Small Business Profile – “Southside Steve” Rickman, SSquared Brands

On this week’s episode of the Atlanta Small Business Profile, Ted Jenkin sits down with “Southside Steve” Rickman, radio personality, serial entrepreneur, and owner of SSquared Brands. After transferring to Georgia State University, Steve was talking to a friend who worked at “Album 88”, a 100,000-watt radio station which at the time was one of the top biggest college station signals in the country. Steve decided to join the radio station in an effort to become a stand-up comedian; little did Steve know that he would continue to do radio for years after he left school. This was where he developed his radio persona of “Southside Steve”. Later Steve would take his radio success and use it to start his own bar on the southside of Atlanta, and he shares some of the most important things that he says he learned through this business. He then goes on to describe how he used these important lessons in creating his current business, ...

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Living a Debt-Free Lifestyle: An Expert Roundup

There are many paths you can take to achieve a debt-free lifestyle. The road you choose depends on your life circumstances, the amount of debt you have, and what you are willing to do to achieve your goal. Debt.com spoke to dozens of debt experts and asked them about their approach to becoming debt free. Check out their advice and their websites to help on your journey toward financial independence. oXYGen Financial Don’t succumb to lifestyle inflation. The absolute key is to make sure you save one-third of every raise you get, and you’ll avoid having long term debt. My other main tip is to never have more than two credit cards. This leads to less temptation and lets you keep a closer eye on debt. –Ted Jenkin ...

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The Atlanta Small Business Show on Peachtree TV: Episode 13 – [6.8.19]

On today’s show, we spoke with George Deeb, startup expert and managing partner of Red Rocket Ventures. We then sat down with Ben and Jackie Moore, who co-founded Jordyn’s Summer Shirt Project along with their daughter Jordyn who has autism. We also caught up with Michelle Amarra, President of Southern Crescent Broadcasting, SCBTV. And rounding out the show was the Atlanta Small Business Profile, where our host, Ted Jenkin, interviewed Will Hall, CEO of HIPnation. ...

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