Byron Moore, CFP® and Mike Jones

Wisdom on Wealth

Financial organization

By Byron Moore, posted September 18th, 2014

Question: I'm trying to get all my financial stuff organized. What do I need to do?

Answer: Let's not do this: straighten up all the unopened bank statements and investment account reports on your desk and call that financial organization.

Don’t miss the forest for the fees

By Byron Moore, posted September 15th, 2014

The following column was published in The News Star on Saturday, September 13, 2014.

Question: I will be retiring in about a year. I’ve talked to a few different advisors. The one I like the best charges higher fees than any of the others, but I really like her and think I would work well with her. I keep reading on financial websites and blogs how important fees are and how they can really impact total returns on your investment portfolio. Which do you think is more important, the fee or the advisor?

Answer: You have to decide if you are purchasing a commodity or a specialty item.  

Understanding the benefit of benefits

By Byron Moore, posted September 8th, 2014

The following column was published in The News Star on Saturday, September 6, 2014.

Question: My wife and I are really trying to cut back and get a budget going. I’m looking at all the money I’m shelling out for insurance and I’m saying we’ve got to cut back. We just can’t afford all that. But what kind should we cut first?

Answer: Whenever someone raises the twin topics of insurance and affordability, a little red flag goes up in my little brain.

Podcast - Retirement Risks, Parts 1, 2 & 3

By Byron Moore, posted September 4th, 2014

The following segments first aired on KEDM 90.3 on June 25th, July 9th and July 16th

This three-part podcast series examines the most commonly identified financial risks faced by retirees. Part 1 addresses the core risk, which is that you will outlast your money, Part 2 looks at some of the financial reasons you might run out of money, and in Part 3 we consider health and lifestyle risks.

Retirement Risks, Part 1:
     
 

Budget advice for college students

By Byron Moore, posted September 2nd, 2014

The following column was published in The News Star on Saturday, August 30, 2014.

Question: My daughter is headed to college in just a few weeks. I have paid for most everything during her high school years and we will do the same during college. She is naturally frugal, so I’m not worried about her overspending. Do you see a problem with me sending her to college with a debit card and just keeping up with her spending so it doesn’t get out of hand?

Answer: Yes, I see a huge problem.

Is your retirement plan fragile or agile? pt. 2

By Byron Moore, posted August 25th, 2014

The following column was published in The News Star on Saturday, August 23, 2014.

Question: I want to get things lined up for my retirement. I’m close enough where I don’t think I’ll be taking any big risks in my retirement plan. But how should I invest my money in my retirement plan once I do retire? And how do I get money out?

Answer: Like most questions I answer, I begin with “get a plan.” In this case, a retirement income plan.

Your moment of truth: Do hard things now, or get hard things later

By Byron Moore, posted August 21st, 2014

Question: I met with a financial planner and we did a workup on what it will take for me to retire one day. It was sobering. In order for me to save enough money to do what we want to do, we're going to have to make some lifestyle changes. My wife commented that it seems like none of our friends are having to make these kinds of changes. What are we missing?

Answer: The ability to bury your head in the sand, perhaps?

Truth No. 9: When investing, seek ye first Alpha

By Mike Jones, posted August 21st, 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.

What is Alpha?

Is your retirement plan fragile or agile? pt.1

By Byron Moore, posted August 18th, 2014

The following column was published in The News Star on Saturday, August 16, 2014.

Question: I want to get things lined up for my retirement. I’m close enough where I don’t think I’ll be taking any big risks in my retirement plan. But how should I invest my money in my retirement plan once I do retire? And how do I get money out?

Answer: First, allow me to bark at the moon and say that, in my opinion, you don’t have money in a retirement plan. You have money in a retirement account.

What’s on your wish list?

By Byron Moore, posted August 12th, 2014

The following column was published in The News Star on Saturday, August 9, 2014.

Question: My husband and I have started talking about getting a little place on the lake. But I just keep feeling guilty that we are wasting money on ourselves. I know if we had a lake house we could share it with other people, have family there and other things. Is this too extravagant?

Answer: It sounds like you’ve got item number one on your wish list.

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