Want To Get Wealthy? Try A Budget Cleanse!

There is so much discussion out there on the internet about picking stocks, bonds, exchange traded funds, and mutual funds.   It’s dizzying to sort through the thousands of articles to really ascertain whether indexing is better than active or value is better than growth.  When you think about building wealth, the discussion centers primarily around ‘asset management’, and which assets categories to own to grow your overall net worth.   However, being an expert in the X and Y generation, the next 20 years of financial planning should be much more centered about your ‘cash flow management’ rather than your ‘asset management’. Since we have moved to a society where largely all transactions move through some sort of electronic currency.  For most of you that means debit or credit cards, although we know that many forms of mobile financial technology are developing to easily allow two entities or people to transfer cash to one another.   Rarely do people write checks today ...

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Should I Leave My Kids A Million Dollars

Just the other week, I had one of the more interesting conversations with a client which sparked me to write this article. I’ve never been the kind of advisor that wants to ‘sell’ my clients insurance. I have always felt it to be best to implement risk management products for the best cost possible or utilize insurance vehicles in the best way to accumulate cash based upon each individual client situation. One of my clients called the other day and said they were considering buying a second to die policy. When I initially heard the request, I said, “Well, you don’t really have a need for more life insurance and we have really good accumulation strategies set up for your other goals.” As the conversation deepened, he told me that he wanted to be 100% certain that when he and his wife died that each child would get 2 million dollars no matter what happened with the rest of his ...

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Is It Time To Make A Roth IRA Conversion?

Over this past year, more clients have asked me about whether or not it makes sense to do a conversion from their Traditional IRA to a Roth IRA.   I’ve written before on the merits of a back door Roth IRA (http://bit.ly/2jNBfFA) before on Your Smart Money Moves, but the larger question about converting an existing account can be a tricky one to approach in your personal finances.   More importantly, if you are not proactive in your tax planning, you could miss a tremendous opportunity to take advantage of a bad year with your business or if you have a substantially down year of income.  Given the volume of planning cases I see every month, especially those in their late 40’s to late 50’s should be looking at this strategy very closely if you are in a transition phase. With the potential upcoming changes in the tax code suggested to move from seven tax brackets down to three, each family needs ...

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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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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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Ted Jenkin Helps You Invest With Donald Trump As President

– 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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Helping You Not Have A Holiday Financial Hangover

– Ted Jenkin | Atlanta Money Guy Topic: Ted Jenkin stops by the studio to help you not suffer a major financial holiday hangover! Taped 11/29/16 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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Helping You Shop on Black Friday

– Ted Jenkin | Atlanta Money Guy Topic: The best Black Friday shopping tips from Oxygen Financial! Taped 11/22/16 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. 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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