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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 discusses financial advice with the Wall Street Journal

You Must Remember This… The one sentence financial advisers wish their clients would remember… (source) Looking for financial advice you can actually remember? Something simple, pithy, but useful? We asked some financial advisers to sum up in one sentence the most important advice they could give clients to help them better manage their financial lives. Here’s what they said: TED JENKIN Co-CEO and Founder, oXYGen Financial Inc., Alpharetta, Ga. THE LINE: “You must always pay yourself first.” THE REASON: Mr. Jenkin says many people don’t realize they are the chief executive officer of their family finances. “As CEO of your family finances, you should always pay yourself first by putting 10% to 20% of your income toward your financial goals before you pay your expenses,” he says. If you can’t meet expenses after savings, it indicates you’re living beyond your means. He also recommends putting at least one-third of every pay raise into savings. “If you follow the ‘pay yourself ...

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9 financial tips for Generation Y

9 financial tips for Generation Y. Perhaps not surprisingly, more than half of employees between 21 and 32 say that they're living paycheck to paycheck, according to a recent survey by insurer Metlife. Nearly three-fourths of respondents are concerned about making ends meet. Fortunately, you can get off to a sound financial start with these nine tips. ...

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IF YOU CAN’T EXPLAIN IT ON ONE PAGE . . . DON’T DO IT!!

Over this past week, I've been watching many different proposals around health insurance in the United States. In one magazine, Investors Business Daily, they had a flow chart of what the health insurance plan would look like. It looked more like an electrical engineering chart of the Empire State Building than it did a health insurance plan. ...

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