Byron Moore, CFP® and Mike Jones

Wisdom on Wealth

Podcast - What kind of disability income insurance do I need? (2:42)

By Byron Moore, posted September 15, 2016

The following segment first aired on KEDM 90.3.

When a client asks me about insurance of any kind, I usually start with a question like, “If the event you are insuring against occurs, will you be the happiest you could possibly be with the decision you make today?”

That usually elicits a bit of head scratching and a kind of “huh?” look…

Click the picture above to play/pause audio.

Time management is a myth, pt. 2

By Byron Moore, posted September 12, 2016
Originally published in the News Star and the Shreveport Times on Sunday, September 11, 2016.
 

time management_sm.jpgQuestion: My business is going well – better than I ever thought it would. My problem is that it’s just eating up more and more of my time…and my life. I’m missing kids’ ball games I know I’ll never be able to get back and I really don’t want to miss out on this time in their lives. What time management tips do you have for getting more things done in less time?

Answer: Last week I said time management is a myth.

That’s because time is a totally inflexible commodity.  We all have access to an equal amount each day.

Time management is a myth, pt. 1

By Byron Moore, posted September 6, 2016
Originally published in the News Star and the Shreveport Times on Sunday, September 4, 2016.
 

time management_sm.jpgQuestion: My business is going well – better than I ever thought it would. My problem is that it’s just eating up more and more of my time…and my life. I’m missing kids’ ball games I know I’ll never be able to get back and I really don’t want to miss out on this time in their lives. What time management tips do you have for getting more things done in less time?

Answer: Time management is a myth.

You obviously can’t add more time to your day, though I suspect you’ve given that a shot (“sure, I’m fine on four hours of sleep a night…”). So now, you’re working on the other end of the equation – packing more “doing” into each day.

Podcast - Family friendly inheritance (2:40)

By Byron Moore, posted September 1, 2016

The following segment first aired on KEDM 90.3.

Control from the grave is nearly impossible to achieve (and rarely appreciated by the heirs). But influence and a legacy of family values is not only possible with careful and creative planning, but may be the most long-lasting gift you could leave behind.
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Think you’ve got a “can’t miss” idea? Keep thinking…

By Byron Moore, posted August 29, 2016
Originally published in the News Star and the Shreveport Times on Sunday, August 28, 2016.
 

Opportunity_sm.jpegQuestion: A friend of mine approached me about investing in a start-up business he’s involved in. I am not at liberty to divulge any details, but I think the idea is brilliant. I really don’t see how it can miss. My question is, what is the best way for me to make this investment – personally, through my IRA or with an LLC I set up?

Answer: Whoa boy. You’re about 100 steps ahead of the parade and it might not even be going your way.

Spend it, lose it or leave it

By Byron Moore, posted August 21, 2016
Originally published in the News Star and the Shreveport Times on Sunday, August 22, 2016.
 

Full piggy bank_sm.jpegQuestion: I think I may be opposite of most people – I am a compulsive saver. Or at least that’s what my wife says. I am always concerned that we will need the money and it won’t be there because we’ve spent it on something frivolous. I’m sure it’s how I was raised. I grew up poor. But my wife is about to get tired of it and I can see her point. How do I free myself from thinking this way?

Answer: Undefined dangers loom large in the mind.

Good intentions can diminish over time

By Byron Moore, posted August 15, 2016
Originally published in the News Star and the Shreveport Times on Sunday, August 14, 2016.
 

Last Will_sm.jpgQuestion: My plan is to leave everything to my wife after I’m gone and she’s doing the same with me. Then when the second one of us is gone, the kids will get everything more or less equally. That’s what our wills say. We are both in second marriages and both of us have our own set of children. But they are all adults, on their own and doing fine. Everyone gets along fine. Isn’t this simple approach the best?

Answer: Your plan strikes me as loving, well-prioritized, simple…and potentially disastrous.

Reverse mortgages

By Byron Moore, posted August 8, 2016
Originally published in the News Star and the Shreveport Times on Sunday, August 7, 2016.
 

ReverseMortgage_sm.jpgQuestion: I've read a lot about reverse mortgages but it's still confusing. I can't tell if it's a good thing or a bad thing. Could you please give me your opinion! Thanks.

Answer: Even the most expensive lifeboat is a bargain when your ship is sinking.

Estate planning for not-ready-for-prime-time heirs

By Byron Moore, posted August 1, 2016
Originally published in the News Star and the Shreveport Times on Sunday, July 31, 2016.
 

irresponsible heir_sm.jpgQuestion: We know we need to do some estate planning but we have several children and not all of them are equally fit to handle a significant inheritance. But we don’t want to disinherit them. Is a trust the answer?

Answer: Having your attorney draft a legal trust may be a part of the answer. But may I suggest an attempt at re-building relational trust before you die?

Not everyone wants the same thing in retirement

By Byron Moore, posted July 25, 2016
Originally published in the News Star and the Shreveport Times on Sunday, July 24, 2016.
 
retirement beach_sm.jpgQuestion: I’m starting to get serious about retirement. Should I start by maxing out my 401K and investing it in one of those target date retirement funds?
 
Answer: You’re talking about tools. I suggest you start with goals.

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