Byron Moore, CFP® and Mike Jones

Wisdom on Wealth

Do I Need an Annuity?

By Byron Moore, posted August 1, 2018

The following segment first aired on KEDM 90.3.

Should I purchase an annuity?

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Will Your Children Ruin Your Retirement (Part 1)

By Byron Moore, posted July 30, 2018
Originally published in the News-Star and the Shreveport Times on Sunday, July 29, 2018.

children money_small.jpg

“Mom, I promise this will be the last time. I’ve just had some unexpected things come up and I don’t have money for the mortgage payment. You don’t want me to lose my house do you?”

Laura could feel the all too familiar waves of nausea, anger and anxiety crashing against her heart. She would try to resist, but she knew it was no good. He would wear her down. He always did. And he knew just how to do it.

Her son is 47 and Laura finds herself trapped in a codependent financial relationship that seems destined to sink her financial ship. Whatever she does from this point is going to be painful.

It didn’t need to be this way. But she and her late husband Rob kept telling each other they would deal with it soon. Maybe next year. After the crisis of the moment is over.

He was an only child. They’d wanted to have more, but nature had other plans. So, they doted on their son, lavishing all the love they had for an entire family on their entire family…of one son. He was the center of their universe.

And it didn’t take long before he realized it.

Back to Normal

By Byron Moore, posted July 24, 2018

The following segment first aired on KEDM 90.3.

When will things get back to normal?

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When the Lowest Price Means the Highest Cost

By Byron Moore, posted July 23, 2018
Originally published in the News-Star and the Shreveport Times on Sunday, July 22, 2018.

 

Fifteen minutes will save you…Car Accident_small.jpg

You can probably fill in the blank. Because one of the largest insurance companies in America has built a brand on the promise that spending fifteen minutes getting a quote from them can save you fifteen percent on premium costs.

I’ve never called those folks, so I can’t speak to the value they do or don’t offer. They do have cleaver ads, I’ll give them that.

But the higher the cost of failure, the more concerned I become when the first thing mentioned is price.

If I find myself wandering around the cereal aisle at Huge-Mart and notice that the Huge Mart brand of granola is $2 lower in price than a nationally advertised, well-known brand, what is my risk if I go for the low-cost option? If I find I just don’t like the cheapo brand, I’m out a few bucks.

But if I make a decision about automobile insurance based on someone offering me a low price, I need to wake up and pay attention.

Are You Afraid of the Wrong Thing?

By Byron Moore, posted July 17, 2018

The following segment first aired on KEDM 90.3.

When it comes to fiances, are your fears misplaced?

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Repeat Offender

By Byron Moore, posted July 16, 2018
Originally published in the News-Star and the Shreveport Times on Sunday, July 15, 2018.

I’m a repeat offender.Back pain_small.jpg

A two-time loser. Maybe three. Incorrigible. I wonder if there’s a registry somewhere I’ve need to be on.

It started about fifteen years ago. I decided I would switch things up in my exercise routine by taking up cycling. Unfortunately, the borrowed bicycle I was using wasn’t the right height for me (who knew bicycles came in sizes?). As a result, I aggravated my middle-aged back. It was my first foray into the world of back pain.

But it wouldn’t be my last.

Like any good ex-jock, I determined to push through the pain. That was a mistake.

I spent the next several months in a doomed loop of exercise, injury, lay off just long enough to feel better but not get better, rinse and repeat. If you’ve ever suffered from chronic back pain, you know there is no shortage of opinions as to how to effectively treat the issue. You’ve spent many sleepless nights reading up on this stuff, unable to rest due to your pain.

Tax Cuts v. Tariffs

Posted July 12, 2018

Mike and Byron discuss the recent tax cuts and tariffs.

 

 

Mortgage Choice - Economic or Emotional?

By Byron Moore, posted July 10, 2018

The following segment first aired on KEDM 90.3.

How do you balance your emotions with sound economics when it comes to a mortgage?

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Suicide by Shortcut: Denial, Decoys, or Dedication

By Byron Moore, posted July 9, 2018
Originally published in the Shreveport Times on Sunday, July 8, 2018 and the New-Star on Monday, July 9, 2018.

Drowning Piggy Bank_small.jpg

The problem with the conveniences of a short cut are the consequences in the long-term. 

Reese and Kyle were one of the 40% of first time home buyers who hadn’t saved any money (at all!) for a down-payment. What to do?

No problem! Crowd sourcing to the rescue! HomeFundMe showed them how to solicit donations from parents and friends (online, so it was cool) so they wouldn’t actually have to go through the yucky process of saving money. 

Another option they had, according to the Wall Street Journal story about them, was borrowing the down-payment from Loftium. All they had to do was agree to rent out a room in their house on Airbnb and share the income. 

Is it just me, or does anyone else remember what happened ten years ago when we let a lot of people buy houses with no skin in the game? What happens when hard times come and they cannot (or no longer wish) make the mortgage payments? See ya!

Will My Family Be Okay Without Me?

By Byron Moore, posted July 3, 2018

 

Many people wonder how much life insurance they should own. While there are many factors which go into this decision, I find the concept of human life value to be one of the most helpful. This video does a nice job of explaining this concept.

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