Byron Moore, CFP® and Mike Jones

Wisdom on Wealth

Talent is overrated

By Byron Moore, posted May 10, 2017
Originally published in the News Star and the Shreveport Times on Sunday, May 7, 2017.
 

Talent_sm.jpgQ: The most difficult thing in my business is finding talented people. Everybody’s a superstar on their resume, but when they come in for an interview it’s a different story. How do you find talented people?

A: Unicorns and all-stars are often hard to come by. In fact, I wouldn’t waste my time looking for either.

Podcast - Gambling with Monte Carlo simulations in retirement (2:43)

By Byron Moore, posted May 4, 2017

The following segment first aired on KEDM 90.3.

Are Monte Carlo simulations worthless for use with investment accounts? No. Just limited.

Click the picture above to play/pause audio.

Practice a physician paradigm with any advisor

By Byron Moore, posted May 1, 2017
Originally published in the News Star and the Shreveport Times on Sunday, April 30, 2017.
 

wellness_sm.jpgQ: I’m thinking about leaving my broker. He had a hot hand for a while, but it seems like he’s lost his touch here lately. Aside from asking friends, any tips for finding one?

A: Before you change brokers, you might want to change your paradigm.

Podcast - Leadership is key benefit of a financial plan (2:42)

By Byron Moore, posted April 27, 2017

The following segment first aired on KEDM 90.3.

Without good leadership in your financial life, you’re likely headed towards a losing season.

Click the picture above to play/pause audio.

Measuring your retirement readiness

By Byron Moore, posted April 24, 2017
Originally published in the News Star and the Shreveport Times on Sunday, April 23, 2017.
 

broccoli and cabbage_sm.jpgQ: By my estimate I’ll have nearly $1,500,000 saved by the time I retire in twelve years. Is that enough to retire on?

A: Remind me…where in Monroe is the state capital located?

Sometimes a perfectly good question can be completely messed up by faulty assumptions.

How to build value into your business

By Byron Moore, posted April 17, 2017
Originally published in the News Star and the Shreveport Times on Sunday, April 16, 2017.
 

Plumbing business_sm.jpgQ: I am just starting out owning my own business. We’re doing fine, but I’d like to grow over time and create something of value that I might sell one day. How do I do that?

A: Do you own a business or simply own your job?

There is a big difference between being self-employed (a.k.a., owning your job) and owning a business that has value apart from your direct involvement. One is not superior to the other, but they are very different creatures.

Podcast - Attitudes toward work affect gratitude for work (3:09)

By Byron Moore, posted April 13, 2017

The following segment first aired on KEDM 90.3.

What is your attitude towards your work? And why do you have that attitude? Click below to hear a few possibilities to consider...

Click the picture above to play/pause audio.

Taming your financial emotions

By Byron Moore, posted April 10, 2017
Originally published in the News Star and the Shreveport Times on Sunday, April 9, 2017.
 

decision making_sm.jpgQ: I know everyone is all bullish on the stock market now that Trump has been elected, but I just don’t trust it. I’ve seen it crash two times before and I’m looking for a third crash any time now. I used to be more optimistic, but not anymore. What do you think?

A: Sometimes I think it would be a good idea if I got up each morning, looked myself in the mirror, and said, “You’re an emotional idiot. Go get some perspective.”

Are you financially colorblind?

By Byron Moore, posted April 3, 2017
Originally published in the News Star and the Shreveport Times on Sunday, April 2, 2017.
 
 
colorblind_sm.jpgQ: I am mid-career, doing well there with good prospects for advancement. The stock market seems to be doing good, so that’s where I have most of my 401K money. It had an awesome year last year. I think I’m hitting on all cylinders. Anything I’m leaving out?
 

A: Only that which you can’t see. Or won’t.

Former president Bill Clinton, Facebook founder Mark Zuckerburg, actor Paul Newman and iconic American humorist Mark Twain all have one thing in common. They have stated publicly that they are color blind.

When you don’t know all the answers, ask more questions

By Byron Moore, posted March 27, 2017
Originally published in the News Star and the Shreveport Times on Sunday, March 26, 2017.

Choices_sm.jpgQ: I don’t really have any clear financial goals. I guess I eventually want to have enough to retire on, but other than that I’m not sure what I would need. I’m probably leaving a bunch of stuff out.

A: You may be looking at the wrong side of the equation.

Someone asked you what your financial goals are and you don’t feel like you have a good answer. OK. So don’t focus on your lack of a good answer.

How about asking yourself some of the following good questions?

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