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About the author  ⁄ Ted Jenkin @ Your Smart Money Moves

Ted Jenkin @ Your Smart Money Moves

Hey!

My friends and family all think I’m a workaholic, but I say I’m just a guy that loves to help people do better in life.

My mother is still the only one that calls me by my real name Theodore Michael, my wife calls me Teddy, but for the rest of you it is just plain old Ted.

Ever since I was a little kid, I always loved money and being an entrepreneur. In fact, I still have cassette tapes of me talking to my grandmother at the age of five and my mother tells me all the time how much I played with money as a kid...

Read More About Ted Here

Ted Jenkin is a frequent guest columnist for the Wall Street Journal and Headline News Weekend Express. He is the co-CEO of oXYGen Financial. You can follow him on LinkedIn @ www.linkedin.com/in/theceoadvisor or on Twitter @tedjenkin.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice.

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor regarding your individual situation. 

Background and qualification information is available at FINRA's BrokerCheck website.

5 Valentine’s Day Gifts Under $50

Valentine’s Day is in the air and what will this mean to your wallet?  According to the National Retail Federation, 10 years ago more than 60% of adults planned to celebrate, but today that number has dropped to more than half.  Have we lost that loving feeling??  Despite the number of people who plan to participate, it is expected that sales top 20 billion this year for Valentine’s Day, and the average spend is targeting $161.96 per person by the time you throw in cards, candy, gifts, and entertainment.   So, if you are trying to continue your New Year’s Resolution and stick to a budget, what are some good ideas to have a great gift while not breaking the bank? Date Crate– Some of us have the hardest time coming up with an idea for a date night beyond eating out, the movies, or just grabbing a drink.  What Date Crate will do for you through a subscription service is ...

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What To Do When You Inherit An IRA

The other evening as I was checking client e-mails, a client sent me a short note inquiring about something her sister did with an inherited IRA and quickly after hearing the story I knew it was even too late to give advice.  The sister had told the IRA custodian to make a check out to her Father’s estate and this would cause tax consequences that are irreversible. Inherited IRA’s can be just like a dozen eggs…once you crack the shell it is impossible to put it back together.   When a loved one passes away, there is a wide array of emotions, and this could affect how you make short term financial decisions.  Especially when you don’t know all of rules or have various siblings chirping in your ear.  It is one of the most important times to seek out financial help from a professional. The overall rules for inherited IRAs are extremely complicated.  It really depends if you inherit the ...

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Four Financial Moves For Government Workers During The Shutdown

Tesla came out with a big announcement the other week that they were laying off 7% of their workforce.  We never really know when our company is going to do that reorganization, deliver some pink slips, or dust off a set of severance packages to get some people out early from the company.  We can’t always predict when these things are going to happen, but we can certainly prepare by having a financial plan in place. Do you know how much you have in emergency reserves? How much monthly income would you need to survive if you didn’t have a paycheck for 3 months? What is saved up in all of your retirement plans? What are all of the benefits you have access to currently at work? These are just a few of the questions you should be asking now in the event that something happens to your job and it’s no longer there to pay the bills.  With the ...

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How Do You Know When To Sell A Stock

You have owned one of those amazing technology stocks over the last decade and you are beginning to wonder…is it time for me get rid of this stock?  Or, should you hold on to it like your parents or grandparents held on to their blue chip stocks until the day they passed it on to you?   Maybe you just bought one of those blazing marijuana stocks and made a nifty profit and are thinking you should sell it because it may just be a fad.  Just like sitting down at the Blackjack table in Las Vegas, we all know how to pull up a seat at the bar, we know how to place some bets, but if we start winning most of us don’t have a strategy about when is the right time to cash in your chips. It’s interesting to see the different philosophies that reside on the internet today.  The Motley Fool, one of the largest investment websites ...

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How To Crush Your Debt In 2019

With the Fed raising interest rates again before the end of the year, variable rate interest loans such as home equity lines of credit, variable rate student debt, and most importantly credit cards will be on the rise for 2019.  The mean credit card debt of U.S. households is approximately $5,700 according to the most recent data from the Survey of Consumer Finances by the U.S. Federal Reserve.  If you consider that credit cards can get into the 20% range for finance charges, this means that interest alone on credit cards could be more than $1,000 per household.  If you don’t have your hands around your debt situation, here are my five smart money moves to crush your debt here in 2019. Understand How You Got Into Debt- There are lots of reasons that we can into debt. You should be asking yourself how this situation happened in the first place. Was it because you had some unusual one-time expense ...

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Are You A Sole Proprietor: The Three S’s For Retirement

In today’s ‘gig economy’ more and more individuals are picking up some sort of side hustle to improve their financial situation.  Along with that trend, people in their mid 50’s are stepping away from their corporate jobs in the search of freedom and flexibility to start their own consulting LLC’s.  This new plethora of part time and full-time entrepreneurs leaves a maze of dizzying choices on what kind of potential retirement plan is available when you own a brand new business. One easy way to remember what kinds of retirement plans are available to you is to remember the three S’s of retirement which are SIMPLE IRA plans, a SEP IRA plans, and a Solo 401(k) plans. The SIMPLE IRA Plan The SIMPLE IRA Plan is a simple, easy to set up retirement where an employee may defer up to $13,000 in 2019. Employees age 50 or over can make a catch-up contribution of up to $3,000. The salary reduction ...

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Where Should You Be Investing In 2019?

As 2018 comes to a close, most of you will be more than happy to wipe away the last three months of stock market woes.  With interest rates sure to climb up more in 2019, uncertainty with the China trade wars, and a looming national debt, it has many investors wondering where the best place is to put your money in 2019.  While nobody can predict the future, it’s important to review how you are investing your money relative to your goals, objectives, time frames, risk tolerances, tax brackets, etc. In 2018, we saw far too many people who were older and had too much money in the stock market.  It’s important to remember to ‘act your age’ and in general you should look at the rule of 100.  If you are 60 years old, roughly 60 percent of your portfolio should be in safer more secure type investments and 40 percent in equity or investments that carry more risk.  ...

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Five Ways To Prepare For A Recession

Almost half of U.S. chief financial officers believe a recession will strike the U.S. economy by the end of 2019, with the tight labor market and growing trade tensions driving economic jitters among corporate America. Additionally, more than 80% of U.S. CFOs think a recession will strike by the end of 2020, according to the Duke University/CFO Global Business Outlook survey released Wednesday. (source: wsj) While there has been a significant amount of good news about the economy, the heightened market volatility, rising interest rates, and companies now having trouble to find and keep qualified employees has many people nervous.  Not to mention the fact that it seems there isn’t a week that goes by where CNBC doesn’t have a scroll at the bottom saying, “Global Worries Send Markets Downward”. We can never predict exactly when a recession will hit us, but here are five tips to prepare for a downturn in the economy. Get your emergency reserve to 6 ...

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Should You Get Divorced Before The End Of 2018

Divorce is never an easy thing to go through no matter what time in life this may happen to you.  The trauma that it may create for you, your children, and other family members may make day to day financial decisions go to the bottom of the pile.   Many people wait to try to get their financial house in order after they complete the divorce proceedings.  With the new Trump Tax Rules here in 2018, divorce may become even more painful in the future. The new alimony rules, included in the Tax Cuts and Jobs Act, apply to divorce or separation agreements executed after December 31st, 2018.  These changes will only intensify the divorce process because at least one of the spouses in the divorce will likely be taking a huge financial hit.  Effectively, January 1st of 2019 alimony payers will no longer be able to deduct alimony payments from their tax returns on new divorces.  Old alimony deals will ...

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Do We Have Data Breach Fatigue?

After another monumental data breach this past week from Marriott/Starwood, we were once again exposed to the real threats and realities that exist with our information held within the systems of large corporations where we spend money.  Marriott has not finished identifying duplicate information in the database, but it believes it contains information on approximately 500 million guests.  They believe for approximately 327 million of these guests, the information hacked included name, mailing address, phone number, email address, passport number, Starwood Preferred Guest account information, date of birth, and other pertinent information.  There is still no definitive information on whether or not credit card information could be decrypted by the hackers.  Class action lawsuits are already flying off the shelf. It almost seems as if once per month we are barraged with some new data breach from large companies seeing what has happened with Equifax, Yahoo!, and now Marriott recently.  Many Americans may already believe hackers have their information from ...

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