Byron Moore, CFP® and Mike Jones

Wisdom on Wealth

Focus – how to do more by doing less

By Byron Moore, posted March 13, 2017
Originally published in the News Star and the Shreveport Times on Sunday, March 12, 2017.

Focus_sm.jpgQ: I am not sure what all I should be doing to get my financial act together. I need to pay off student loans, save up for a new car, save for retirement and save up for a down payment on a house one day. How do I accomplish all these priorities at once?

A: You don’t.

When you have too many “priorities,” you really have no priorities. Having too many so-called priorities demonstrates that you have actually just failed to make hard choices. You have failed to focus. So far.

Podcast - Is bigger really better? Part 1 (3:15)

By Byron Moore, posted March 9, 2017

The following segment first aired on KEDM 90.3.

The traditional approach to financial planning can be summarized in three words: bigger is better. But what if your goal is not simply “bigger is better,” but “bigger and better?”

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Which costs more - living protected or exposed?

By Byron Moore, posted March 6, 2017
Originally published in the News Star and the Shreveport Times on Sunday, March 5, 2017.

Disability_0.jpgQ: I have the opportunity to buy some disability insurance through a group of professionals I work with. But I struggle with wasting that money vs. how much more could I have if I just invested it. What do you think?

A: I think you need to understand your choices more clearly.

I grew up watching Let’s Make a Deal with Monty Hall. Eager audience members would scream wildly, pleading with Monty to pick them to play the game. Once Hall had chosen someone to play, announcer Jay Stewart would bring down what looked to me like a TV dinner trey with small package on it. Then Monty would give the contestant the opportunity to keep the little mystery in the small package on the TV dinner trey or trade for some hidden something behind (you remember) door #1, door #2 or door #3. Those were the doors beside which stood the beautiful Carol Merrill.

Podcast - Should you sell your pension for a lump sum? (3:12)

By Byron Moore, posted March 2, 2017

The following segment first aired on KEDM 90.3.

Have you seen those ads from the nice folks who want to buy your pension for cash? Who couldn’t use an extra six figures worth of money? But…how do you tell if that is a good deal?

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Four fates of your financial future

By Byron Moore, posted March 1, 2017
Originally published in the News Star and the Shreveport Times on Sunday, February 26, 2017.

Full piggy bank_sm.jpegQ: What will happen to money remaining in my 401K if I die? Does the company get that?

A: The good news is no, the company doesn’t get it. The bad news is…what do you mean “if”?

A 401K account has a beneficiary designation, meaning you get to decide before you die who gets anything remaining in it when you die. This is most often your spouse, but even if that’s the case, be sure you name a “contingent” beneficiary – meaning someone who gets the money if your spouse dies with or before you.

Podcast - Feeling financially overwhelmed – what to do? (3:24)

By Byron Moore, posted February 23, 2017

The following segment first aired on KEDM 90.3.

A certain amount of financial stress is fact of life in our modern world. So how do you handle those seasons of life when your financial circumstances threaten to overwhelm you?

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Position, Pace and Power – perform like a pro

By Byron Moore, posted February 21, 2017
Originally published in the News Star and the Shreveport Times on Sunday, February 19, 2017.

Chess position_sm.jpgQ: Being somewhat late to the retirement preparation game, I’m trying to put as much as I can into a rather aggressive set of mutual funds so as to maximize my return. I still have twenty years or so to go, but I kind of just got started. What else do I need to be thinking about?

A: Playing the entire game and finishing well.

Two weeks ago, 111 million people watched the Atlanta Falcons play 3 really good quarters of football against the New England Patriots. Unfortunately for them, the game lasted four full quarters. And an overtime. Looking dominant in the first two quarters, and still confident after three, the Falcons allowed the Patriots to claw their way back to tie the game by the end of regulation play.

The S&P 500s $20 trillion value... how did we get here?

By Mike Jones, posted February 16, 2017

As I was driving to work this past Monday morning, a reporter for Bloomberg Radio announced that the collective value of the S&P 500 had exceeded TWENTY TRILLION DOLLARS for the first time ever. 

The power and peril of compound interest

By Byron Moore, posted February 13, 2017
Originally published in the News Star and the Shreveport Times on Sunday, February 12, 2017.

compound interest_sm.jpgQ: I have always had a goal to have $1,000,000 in my investments. I’ve been at it for a while and I’ve finally gotten to $100,000 but that only puts me a tenth of the way there. I’m in my mid-30s and I don’t see how I’ll ever get there.

A: You need to understand the power of what you’re dealing with, but you also need to understand its potential for peril.

I’m talking about compounding interest, something Albert Einstein is often credited with calling “the eighth wonder of the world.” That’s probably an urban legend, by the way. A bit like Abraham Lincoln always complaining that his Twitter account kept getting hacked.

Podcast - Debt is a time machine (2:24)

By Byron Moore, posted February 9, 2017

The following segment first aired on KEDM 90.3.

Debt brings the future into the present…but at a cost.

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