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Are Mothers Losing Income Equality When They Have Kids?

Request a FREE no obligation consultation: www.oxygenfinancial.net The pay gap between men and women is still not close to equal, but there are more signs when it comes to motherhood that the gap is widening even more. For example, one study showed that for women, incomes drop 30% after giving birth for the first time and never catch up. That’s according to a working paper by Henrik Kleven, Camille Landais and Jakob Egholt Sogaard published by the National Bureau of Economic Research in January 2018. The study used Danish administrative data from 1980-2013. (source: CNBC) Also called the “motherhood penalty,” women start falling behind men in terms of their rank and their probability of being promoted just after the birth of the first child, the researchers found. About a decade later, women’s earnings plateau around 20% below the level just before becoming a parent. (source: CNBC) So, is this motherhood penalty something that will continue, and just what can be done to ...

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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 don’t think about often is our most valuable asset, which is our ability to earn an income and how we can grow that income faster.  Almost 20 years ago, I met an extremely successful business owner who gave me a simple lesson: Invest 2% of everything you earn back into your ability to grow your income. So, what does this mean exactly? Investing in you is like diversifying your portfolio investments.  It means that you might take a chance and invest in that side hustle you think could be a business.  It means investing in a training course or advanced education that could further your current career.  It means investing in a personal coach who could improve your business performance.  It could also mean investing in an exercise or nutrition program that could give you more stamina every day ...

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Why You Always Need To Invest 3% Of Your Income In Yourself

Topic: Why You Always Need To Invest 3% Of Your Income In Yourself Taped 4/19/16 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 Breathe easier at http://oXYGenFinancial.net ...

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Why Your Family Income Statement May Be In The RED

Whether or not you accept the role, you are the CEO of your family finances. Many seasoned manager and vice presidents do an excellent job at work managing the profit and loss (P & L) for their divisions. However, most don’t apply the astute management techniques they learn at work to their family finances. Why not? The fact is that even if you have a college degree or an MBA, nobody ever really teaches a personal finance course on how to run your family finances like a business. The two metrics that most business owners review in their business are the income statement (P & L) and the balance sheet. Running your family income statement efficiently (or profit and loss statement) to maximize your cash flow is part I. The cash flow then drives the balance sheet (net worth) which is part II. Net worth is what will ultimately create your overall family financial security. The balance sheet is simply ...

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Should My Wife Quit Her Job?

I saw this question on Yahoo the other day and thought how many times clients have asked me this question over the years.   It used to be a wife question, but there are many women who are doing incredibly well in the workforce so you have stay at home dads and moms alike today.  Here’s the question. . . .  My wife and I just had our second child and I work from home. She works in an office about 30 minutes away. I make approximately 2-3 times what she makes and now she went back to work and I stay at home with the kids and work but it is a nightmare. If we put the kids in daycare, it would cost us just about everything she takes home in a month so that’s not an option. The only thing is that she has very good medical benefits that would cost us $1000 or more per month regularly. We ...

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