Byron Moore, CFP® and Mike Jones

Wisdom on Wealth

Podcast - Four paths to financial independence

By Byron Moore, posted March 11th, 2014

The following segment first aired on KEDM 90.3 on Wednesday, February 26, 2014.

Short of winning the lottery or getting Bill Gates to adopt you, there are only four ways you can move from financial dependence (in which work is necessary) to financial independence (in which work is optional). Listen to my most recent KEDM Public Radio segment to hear your four options.

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Path to money maturity

By Byron Moore, posted March 10th, 2014

The following column was published in The News Star on Saturday, March 8, 2014.

Question: I have four siblings. Most of us turned out fine, but one brother is just stuck. He basically has no maturity in life and is constantly making poor choices, financial and otherwise, which hurt him and everyone around him. I don’t want any of my kids to turn out like him, but I’m not sure how to prevent it.

Answer: Based on what I’ve seen so far, the only perfect kids are grandkids. And I’m pretty sure no one has come up with a failsafe plan for how to raise those.

People are the key to your business success, part 2

By Byron Moore, posted March 3rd, 2014

The following column was published in The News Star on Saturday, March 1, 2014.

Question: I own a successful small business. One day I hope to sell it, but it is rather specialized and the market for a business like mine is pretty small. None of my employees are capable of running the business. What would you suggest?

Answer: Last week I suggested that no small business can be really successful until it is ready to be sold.

People are the key to your business success, part 1

By Byron Moore, posted February 24th, 2014

The following column was published in The News Star on Saturday, Februrary 22, 2014.

Question: I own a successful small business. One day I hope to sell it, but it is rather specialized and the market for a business like mine is pretty small. None of my employees are capable of running the business. What would you suggest?

Answer: I suggest your business may not be as successful as you think it is.

Investing Truth No. 5: Financial crises happen... everywhere and to everybody

By Mike Jones, posted February 20th, 2014

Most people think of investing as a personal activity that directly impacts their individual future.  However, most of what we are taught is really only applicable to investors en masse, i.e. the market-at-large, and over large periods of time.  Over the next several months I will share 10 points that I believe every investor should know prior to committing funds to any investment program.

Believe it or not, the 2008 market meltdown was not an anomaly. Every industrialized country--yes, every--has experienced a decline of 75 percent or more in its stock market at least once in the last 100 years.

Convenience not always a virtue

By Byron Moore, posted February 20th, 2014

Question:  I just started a new job and the HR guy says I should put as much as I can into our 401K plan. He says I won't miss the money out of my paycheck, but I've got some debts I need to get paid off. Besides I really don't know anything about investing. I like the idea of getting it automatically done so I don't have to think about it. What do you think?

Answer: We love it when things are convenient.  

Planning and practicing your financial priorities

By Byron Moore, posted February 18th, 2014

The following column was published in The News Star on Saturday, Februrary 15, 2014.

Question: I really want to get financially organized and planned out. How do I do that and where do I start?

Answer: In order for priorities to be profitable, they must first be planned and then be practiced.

Pre-decisions

By Byron Moore, posted February 10th, 2014

The following column was published in The News Star on Saturday, Februrary 8, 2014.

Question: Is it possible for someone to be just out of control when it comes to spending? I’m talking about myself. I am very impulsive and just can’t control myself when it comes to spending.

Answer: Yes, it is possible to be all of those things – out of control, impulsive and just plain messed up when it comes to spending habits.

What is the financial atmosphere of your home?

By Byron Moore, posted February 3rd, 2014

The following column was published in The News Star on Saturday, Februrary 1, 2014.

Question: When we were growing up my father constantly reminded us to be responsible with money. But I always got the feeling with him it was about much more than being responsible. He seemed to get a lot of validation out of how much money we had, which I think went too far. As a result, I find myself shy about teaching my own kids financial responsibility for fear they’ll get the same message from me. Suggestions?

Answer: Most of the time we communicate our messages very clearly, despite what we say. Your father’s words said one thing, but his life said quite another, didn’t it?

Scared of scams

By Byron Moore, posted January 27th, 2014

The following column was published in The News Star on Saturday, January 25, 2014.

Question: I decided I need a financial person so I’ve started talking to a few individuals. Frankly I’ve been less than impressed. I just get the feeling they want to sell me their thing, whatever it happens to be. It is always like this?

Answer: Slimy types will always be drawn to any profession offering access to people’s money.

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