There is a big free agency year coming up in the NBA for the summer of 2010. While I don’t often comment on sports, I thought I would give you my most 10 overrated players currently in the NBA.

10.) Steve Nash- While there is always ooh’s and aah’s about his wizardry passing the basketball and his free throw shooting, Nash still doesn’t realize that defense wins titles. He will be sure fire Hall of Famer with Charles Barkley, both with no rings.

9.) Gilbert Arenas- Who knows if he will even return to the NBA with the recent gun antics, but even if he does who really cares? Agent Zero had a few good years of chucking the basketball as a scorer, but really hasn’t done much more including getting past the first round of the playoffs. I’d take Antwan Jamison or Caron Butler over him any day to start a team. Nice investment Washington!

8.) Ray Allen- Here is another guy who has scored on bad teams for years until he joined the Celtics, but really has had below average numbers on everything but scoring and free throw shooting. He doesn’t pass or rebound well let alone defend. No title for this guy without Garnett and Pierce. Is there still a team in Seattle?

7.) Vince Carter- They call it Vinsanity on the court. I call it not being able to figure out how to win a championship. Vince is over the hill, and needs to learn a post up mid range game like Michael and Kobe have done in their careers. Shooting 30% from 3 point land won’t get it done. Orlando was better off with Turkgolo in the lineup.

6.) Elton Brand- Wasn’t he the guy who was supposed to bring the big double double to Philadelphia to make them a contender again? Instead it has been 14.5 points and slightly over 6 rebounds a game. Enjoy the summer Philadelphia.

5.) Lamar Odom- Some people say he is the best 6th man in the league. I say here’s guy who shoots less then 30% from the 3 point line and under 70% from the free throw line. Every once in a while he posts a huge rebound game, but he isn’t near as good an all around player as the hype. Sorry Mr. Kardashian.

4.) Manu Ginobili- Respectfully, a few years ago Ginobili was truly one of the games top players. However, people keep talking about the Spurs and them making a run to take the Lakers. Guess again. Ginobili isn’t even shooting 40% from the floor, and is showing signs of his age.

3.) Brandon Jennings- One 55 point game doesn’t make you a superstar. With a shooting percentage of less than 38%, that won’t cut it to be a premier player in the league. The game doesn’t match the hype, and the NBA teams have finally started to figure out how to shut this kid down.

2.) Tracy McGrady- I can never figure out why people like this guy so much. Who cares if he is Vince Carter’s cousin? They both belong on this list. He never got it done in Orlando, and even if he and Yao return together they won’t get it done in Houston. McGrady has flashes of brilliance, but has never put together an all around season.

The number one winner in my book is Greg Oden. What is there to say but disappointment and more disappointment? Kevin Durant probably sure looks good to Portland right now. Maybe Oden has a future in the adult film industry, but it won’t be as an NBA center.

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You can also visit a great Top 10 List Community Website

Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS®

Co-CEO and Founder oXYGen Financial, Inc.

11680 Great Oaks Way, Suite 175 | Alpharetta, GA 30022

Phone 1.800.355.9318 or 770.777.0427

Request a FREE consultation: www.oxygenfinancial.net

oXYGen Financial, Inc. co-CEO Ted Jenkin  is one of the foremost knowledgeable professionals in giving financial advice to the X and Y Generation.

TED JENKIN IS SECURITIES LICENSED THROUGH INVESTACORP, INC. A REGISTERED BROKER/DEALER MEMBER FINRA, SIPC.  ADVISORY SERVICES OFFERED THROUGH INVESTACORP ADVISORY SERVICES, INC. A SEC REGISTERED INVESTMENT ADVISORY FIRM. Linked sites are strictly provided as a courtesy. Investacorp, Inc., and its affiliates, do not guarantee, approve nor endorse the information or products available at these sites nor do links indicate any association with or endorsement of the linked sites by Investacorp, Inc. and its affiliates.

There isn’t a day that passes by now where I don’t see a continued commercial for raising money to save Haiti. I feel awful for the people of Haiti over this terrible tragedy, but I keep coming back to the major issues we have going on in our own country.

Americans donated $150 million in the first four days after the Haiti earthquake, according to the Chronicle of Philanthropy. Donations to Hurricane Katrina efforts in 2005 only totaled $108 million in the first four days after the disaster, the chronicle said. Who knows exactly how much money we have donated between the U.S. Government and American citizens, but doesn’t anybody find it strange that we raise more for other countries than our own?

We don’t know the exact numbers, but one study had the unemployment rate last year in Detroit at 28.9% (Source: The World Newser August 28th, 2009). At those levels of unemployment, you ultimately have a tidal wave of foreclosures, crime, and poverty. I haven’t heard of George Clooney doing a telethon to help support the relief efforts in Detroit. At 20%+ unemployment, that is about as big of an economic earthquake as we have seen in many years. Where will the relief effort come for cities in the United States like Cleveland, Detroit, and Buffalo?

We need to start getting serious about our country being a business. If you worked for a Fortune 100 company, you have probably noticed cutbacks on bonuses, fringe benefits, and charitable contributions from the company. That is because they realize to grow their business you need to be able to grow profits. I’m not sure we have realized that yet. Maybe will just keep printing money. If we do, we might as well text HELP!, and give some to Detroit.

Related Articles – Top 5 Ways to Help Someone Who Is Unemployed , Unemployment Extension: F.A.Q.’s , What happens when the Unemployment Check runs out?

oXYGen Financial, Inc. co-CEO Ted Jenkin  is one of the foremost knowledgeable professionals in giving financial advice to the X and Y Generation.

Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS®

Co-CEO and Founder oXYGen Financial, Inc.

Request a FREE consultation: www.oxygenfinancial.net

TED JENKIN IS SECURITIES LICENSED THROUGH INVESTACORP, INC. A REGISTERED BROKER/DEALER MEMBER FINRA, SIPC.  ADVISORY SERVICES OFFERED THROUGH INVESTACORP ADVISORY SERVICES, INC. A SEC REGISTERED INVESTMENT ADVISORY FIRM. Linked sites are strictly provided as a courtesy. Investacorp, Inc., and its affiliates, do not guarantee, approve nor endorse the information or products available at these sites nor do links indicate any association with or endorsement of the linked sites by Investacorp, Inc. and its affiliates.

Can you still set up a retirement plan for 2009 if you are a small business owner?

If you own a small business or are just an independent contractor, there may still be time to set up a retirement plan for 2009 before you file your taxes.

The main type of retirement plan that can still be set up is called a Simplified Employee Pension Plan. A SEP is a simplified employee pension plan. A SEP plan provides employers with a simplified method to make contributions toward their employees’ retirement and, if self-employed, their own retirement. Contributions are made directly to an Individual Retirement Account or Annuity (IRA) set up for each employee (a SEP-IRA). See Publication 560 for detailed SEP information for employers and employees.

A SEP is established by adopting a SEP agreement and having eligible employees establish SEP-IRAs. There are three basic steps in setting up a SEP, all of which must be satisfied. (source: www.irs.gov)

• A formal written agreement must be executed. This written agreement may be satisfied by adopting an Internal Revenue Service (IRS) model SEP using Form 5305-SEP, Simplified Employee Pension – Individual Retirement Accounts Contribution Agreement. A prototype SEP that was approved by the IRS may also be used. Approved prototype SEPs are offered by banks, insurance companies, and other qualified financial institutions. Finally, an individually designed SEP may be adopted.
• Each eligible employee must be given certain information about the SEP. If the SEP was established using the Form 5305-SEP, the information must include a copy of the Form 5305-SEP, its instructions, and the other information listed in the Form 5305-SEP instructions. If a prototype SEP or individually designed SEP was used, similar information must be provided.
• A SEP-IRA must be set up for each eligible employee. SEP-IRAs can be set up with banks, insurance companies, or other qualified financial institutions. The SEP-IRA is owned and controlled by the employee and the employer sends the SEP contributions to the financial institution where the SEP-IRA is maintained.

How much can you normally put away to these types of plans?

Annual contributions an employer makes to an employee’s SEP-IRA cannot exceed the lesser of:

1. 25% of compensation, or
2. $49,000 for 2009 and 2010 (subject to annual cost-of-living adjustments for later years).

The limits in the preceding sentence apply in the aggregate to contributions an employer makes for its employees to all defined contribution plans, which includes SEPs. Only up to $245,000 in 2009 and 2010 (subject to annual cost-of-living adjustments for later years) of an employee’s compensation may be considered. Contributions must be made in cash. Property cannot be contributed. (source: www.irs.gov)

Due to the rules of SEP plans called the 3 of 5 rule, you may be able to legally discriminate against employees who are part time or have not worked for the business for a specific period of time.

There may be other options for you if you own a business or are self employed, but the SEP could be a low-cost administrative plan to set up if you are still looking to save money for 2009.

For more information, please visit oXYGen Financial.

Check out these articles for more information -

Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS®
Co-CEO and Founder oXYGen Financial, Inc.

11680 Great Oaks Way, Suite 175 | Alpharetta, GA 30022
Phone 1.800.355.9318 or 770.777.0427

oXYGen Financial, Inc. co-CEO Ted Jenkin is one of the foremost knowledgeable professionals in giving financial advice to the X and Y Generation.

TED JENKIN IS SECURITIES LICENSED THROUGH INVESTACORP, INC. A REGISTERED BROKER/DEALER MEMBER FINRA, SIPC. ADVISORY SERVICES OFFERED THROUGH INVESTACORP ADVISORY SERVICES, INC. A SEC REGISTERED INVESTMENT ADVISORY FIRM. Linked sites are strictly provided as a courtesy. Investacorp, Inc., and its affiliates, do not guarantee, approve nor endorse the information or products available at these sites nor do links indicate any association with or endorsement of the linked sites by Investacorp, Inc. and its affiliates.

Doesn’t it seem like there is always an insurance decision to make? Whether it is from a new purchase you make, a decision at work, or someone calling you to buy something over the phone, insurance decisions are being made every other month in our financial plans. It is often confusing to figure out which insurance programs make sense, and which is just a waste of money. While hindsight is 20/20, here are five insurance policies you want to avoid in the future.

1. Mortgage Insurance- When you buy a new home, you will typically get a mailer to buy an insurance policy that will completely pay off the mortgage upon your death. If you are reasonably healthy, buying a level term insurance policy through any of the major insurance companies will often be much cheaper than buying this type of insurance.

1. Wedding Insurance- Isn’t there a big problem if you are buying insurance in the event your wedding doesn’t happen? While the premiums on these policies may only range from $200 to $500, you need to really review what exactly the policy covers. Spend the money on doing something fun for your guests at the wedding. The risk trade off just isn’t good enough on this one.

1. Credit Life Insurance- This type of insurance will typically pay off your credit card at death. The premium will seem minuscule, usually costing less than $1 per month. However, if you are reasonably healthy, getting appropriate term or permanent life insurance coverage will be a better buy in the long run.

1. Air Travel Life Insurance- You need a certain amount of life insurance . . . not more life insurance if you die in a plane. If you want to go to Vegas to have some fun and bet, go ahead and book a room. You probably don’t want to be betting on your own death with a double down on the next Delta flight? Air Travel is still the safest form of travel, and the least likely place for you to collect on this type of insurance.

1. Private Mortgage Insurance- How do you avoid this? Make sure you put 20% down on a house. I know that is a novel idea, but maybe you just aren’t ready to buy the type and size of house you are shopping for unless you can make the down payment. This insurance can be very costly for a new home owner.

These are five favorites of mine not withstanding how much I hate any type of warranty for electronics items bought from stores. Make sure you read the fine print of any type of insurance policy you buy, and don’t get ripped off!

Check out these articles! -

11680 Great Oaks Way, Suite 175 | Alpharetta, GA 30022

Phone 1.800.355.9318 or 770.777.0427

oXYGen Financial, Inc. co-CEO Ted Jenkin  is one of the foremost knowledgeable professionals in giving financial advice to the X and Y Generation.

Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS®
Co-CEO and Founder oXYGen Financial, Inc.

Request a FREE consultation: www.oxygenfinancial.net

TED JENKIN IS SECURITIES LICENSED THROUGH INVESTACORP, INC. A REGISTERED BROKER/DEALER MEMBER FINRA, SIPC.  ADVISORY SERVICES OFFERED THROUGH INVESTACORP ADVISORY SERVICES, INC. A SEC REGISTERED INVESTMENT ADVISORY FIRM. Linked sites are strictly provided as a courtesy. Investacorp, Inc., and its affiliates, do not guarantee, approve nor endorse the information or products available at these sites nor do links indicate any association with or endorsement of the linked sites by Investacorp, Inc. and its affiliates.

Didn’t you always wonder what your next door neighbor spends on their money on every year? Or maybe you were curious on whether you spend more or less than you should based upon your current income levels? The answer to these and many other questions can be discovered on a new website called www.bundle.com.

Bundle is a fresh new website still in its testing stage that aggregates data from many different vantage points to give you incredible details on what people just like you spend from utilities to home repairs to dining out.

For example, if you are ages 36 to 49, are married with kids, and make $100k to 125k, here are the statistics according to Bundle. They say in Alpharetta, GA that the average demographic spends $1,144 in food and drink, $1,723 in shopping, and $405 in travel and leisure. Perhaps Bundle hasn’t been to Alpharetta as of late to see what kind of shopping is being done at the mall.

These new tools can be fabulous for looking as some fun financial statistics, but they simply don’t replace doing a comprehensive financial plan with your personal data. While you may have a great interest in the overall economy, what you should focus on most is that your personal economy. I often wonder what people around me spend their money on, but I know for sure that they won’t help me retire. Bundle up!

Other Great Articles – Share A Taxi And Save Money , What did it cost a decade ago? , What If Tiger Woods Was A Stock? , The Top 10 Travel Websites , Analyze Your Cell Phone Bill , Complete Stain Removal Guide , 7 Money Tips for a New Marriage.

oXYGen Financial, Inc. co-CEO Ted Jenkin is one of the foremost knowledgeable professionals in giving financial advice to the X and Y Generation.

Request a FREE consultation: www.oxygenfinancial.net

11680 Great Oaks Way, Suite 175 | Alpharetta, GA 30022

Phone 1.800.355.9318 or 770.777.0427

Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS®

Co-CEO and Founder oXYGen Financial, Inc.

TED JENKIN IS SECURITIES LICENSED THROUGH INVESTACORP, INC. A REGISTERED BROKER/DEALER MEMBER FINRA, SIPC. ADVISORY SERVICES OFFERED THROUGH INVESTACORP ADVISORY SERVICES, INC. A SEC REGISTERED INVESTMENT ADVISORY FIRM. Linked sites are strictly provided as a courtesy. Investacorp, Inc., and its affiliates, do not guarantee, approve nor endorse the information or products available at these sites nor do links indicate any association with or endorsement of the linked sites by Investacorp, Inc. and its affiliates.

Health Savings Account Limits For 2010

Many Americans have switched over to a Health Savings Account. This would be a great time of the year to assess what you actually spent in your Health Savings Account in 2009, and assess your investment strategy of your Health Savings Account for 2010 (that is if you have over $2,000 balance in your account). Since Health Savings Accounts are not use or lose, this will become an important asset in the financial picture for families that have a Health Savings Account.

High Deductible Health Plan (HDHP). For HSA purposes, the minimum annual deductible of an HDHP increases to $1,200 ($2,400 for family coverage) and the maximum annual deductible and other out-of-pocket expenses limit increases to $5,950 ($11,900 for family coverage).

Limits on contributions. The maximum HSA contribution increases to $3,050 ($6,150 for family coverage). (Source www.irs.gov)

Go to oXYGen Financial INC. to get your free guide called, “Is A Health Savings Account Right For You?”

Check out these articles – Do we need this type of Health Care reform?, Health Insurance- Where are we headed?, Long Term Care Insurance, Is a Health Savings Account the best medical plan option for you?, Health Insurance by Arthur Benz

11680 Great Oaks Way, Suite 175 | Alpharetta, GA 30022
Phone 1.800.355.9318 or 770.777.0427

Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS®
Co-CEO and Founder oXYGen Financial, Inc.

oXYGen Financial, Inc. co-CEO Ted Jenkin  is one of the foremost knowledgeable professionals in giving financial advice to the X and Y Generation.

TED JENKIN IS SECURITIES LICENSED THROUGH INVESTACORP, INC. A REGISTERED BROKER/DEALER MEMBER FINRA, SIPC.  ADVISORY SERVICES OFFERED THROUGH INVESTACORP ADVISORY SERVICES, INC. A SEC REGISTERED INVESTMENT ADVISORY FIRM. Linked sites are strictly provided as a courtesy. Investacorp, Inc., and its affiliates, do not guarantee, approve nor endorse the information or products available at these sites nor do links indicate any association with or endorsement of the linked sites by Investacorp, Inc. and its affiliates.

As each year changes, so do the deductions we can take every year as it relates to mileage with business, charitable, and medical mileage. I often find that people I meet don’t keep the best track of these records, and every dollar you save can help you increase your bottom line.

The Internal Revenue Service issued the 2010 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.

Beginning on January 1st of this year, the standard mileage rates for the use of a car (vans, pickups, or trucks) will be:

• 50 cents per mile for business miles driven
• 16.5 cents per mile for medical or moving purposes
• 14 cents per mile driven in service of charitable organizations

The new rates for business, medical and moving purposes are slightly lower than last year’s. The mileage rates reflect generally lower transportation costs compared to a year ago. The standard mileage rate for business is based on annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs as determined by the same study. Independent contractor Runzheimer International conducted the study. (Source www.irs.gov)

Most people miss out on these deductions by not simply deploying a system to track your mileage. Remember that you cannot deduct the miles for your regular commute to and from work or if your employer reimburses you for those business miles. However, for those employees whose employer does not reimburse them for business travel, this can represent a great deduction. If you own a small business, you should absolutely sit down with your accountant or your financial advisor to figure out what methodology for automobile expenses or mileage would be the best deduction for you. The key is planning this out early in the year, and then having a tracking or log system for the mileage.

I hardly ever see people log their miles for charitable work. Most people seem to be unaware that this mileage deduction exists, yet they are giving time each year to help out from a charitable perspective.

I recommend that you get a tracking system early, and figure out in your own situation what kind of deductions you can potentially take here in 2010.

Related Articles – The Top 10 Most Overlooked Tax Deductions , Tax Changes for 2010 , Paying Your Taxes by Credit Card

11680 Great Oaks Way, Suite 175 | Alpharetta, GA 30022
Phone 1.800.355.9318 or 770.777.0427

oXYGen Financial, Inc. co-CEO Ted Jenkin is one of the foremost knowledgeable professionals in giving financial advice to the X and Y Generation.

TED JENKIN IS SECURITIES LICENSED THROUGH INVESTACORP, INC. A REGISTERED BROKER/DEALER MEMBER FINRA, SIPC.  ADVISORY SERVICES OFFERED THROUGH INVESTACORP ADVISORY SERVICES, INC. A SEC REGISTERED INVESTMENT ADVISORY FIRM. Linked sites are strictly provided as a courtesy. Investacorp, Inc., and its affiliates, do not guarantee, approve nor endorse the information or products available at these sites nor do links indicate any association with or endorsement of the linked sites by Investacorp, Inc. and its affiliates.

Enjoy this weeks show if you missed it on the Regular Guys on  100.5 FM
“How Not To Go Broke with Kile Lewis and Ted Jenkin” of  oXYGen Financial – 01/21/10

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11680 Great Oaks Way, Suite 175 | Alpharetta, GA 30022
Phone 1.800.355.9318 or 770.777.0427

oXYGen Financial, Inc. co-CEOs Kile Lewis and Ted Jenkin are both some of the foremost knowledgeable professionals in giving financial advice to the X and Y Generation.