Byron Moore, CFP® and Mike Jones

Wisdom on Wealth

Getting back to normal

By Byron Moore, posted March 31st, 2014

The following column was published in The News Star on Saturday, March 29, 2014.

Question: My husband and I were talking about the economy and the business environment and we were both wondering when things would ever get back to normal again. Then we laughed, because we can’t even remember what normal is supposed to be like. We just know this isn’t it! What do you think?

Answer: Isn’t it funny - things are always getting back to normal. But they are rarely normal. What’s that all about?

Stop trying to avoid risk, start managing it

By Byron Moore, posted March 24th, 2014

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

Question: I know everybody’s talking happy talk about how good the economy is getting, but I am still very much afraid we’re not out of the woods yet. Makes me afraid to take chances with my money. I’d rather put it in land. I know farm land prices are up, but at least you’ve got something. 

Answer: Funny thing about fear – it often tricks us into exchanging one perceived problem for a much larger one.

Podcast - Simple wills may create complex problems

By Byron Moore, posted March 21st, 2014

The following segment first aired on KEDM 90.3 on Wednesday, March 19, 2014.

Sometimes simple wills can create complex problems. Listen to my most recent KEDM Public Radio segment to hear how a little attention to detail now could alleviate a lot of tension in the family later.

     Click here to listen.JPG

Investing Truth No. 6: Fear and greed make investors do dumb things

By Mike Jones, posted March 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.

Listen up! This month's investing truth is perhaps one of the most important for investors to understand. If you don't, you could end up making one mistake after another throughout your investing life, failing to experience the potential returns that the markets could have afforded you.

How much to tell the kids about your money

By Byron Moore, posted March 21st, 2014

Question:  I grew up in a home where my parents did not talk about money at all. It wasn't until my father died that I knew anything about his financial situation, and it wasn't good. Now that I've got children of my own in high school and elementary school, I'm wondering when we should we tell them about our finances?

Answer: When it comes to money and sex, if you wait until they are "ready" to "have the talk," you'll be too late.

Mortgage Choice – economic or emotional?

By Byron Moore, posted March 17th, 2014

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

Question: My wife and I are planning to build a house soon. It will be a luxury home and fortunately we can afford it. We are at odds over what kind of mortgage to get. She wants a shorter mortgage because she doesn’t like being in debt. I lean towards a longer mortgage to hang on to my money longer. Who’s right? 

Answer: Economically, you are. Emotionally, she is.

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.

     Click here to listen.JPG

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.

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