Byron Moore, CFP® and Mike Jones

Wisdom on Wealth

Podcast - How to make financial decisions (2:23)

By Byron Moore, posted December 7, 2017

The following segment first aired on KEDM 90.3.

Making financial progress (or progress in any realm of life) is only going to happen if you grow in the skill of decision making. Here’s a process you can use to make a hard decision...

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Preparing the path for your own long-term care

By Byron Moore, posted December 4, 2017
Originally published in the News Star and the Shreveport Times on Sunday, December 3, 2017.
 

Outliving heirs_sw.jpgQuestion: My mom just passed. Her final years were so hard. Even though she was getting sicker and sicker, she fought us every step along the way as we had to make difficult decisions about her care. I don’t want to make things that hard for my kids. What can I do now to prevent that?

Answer: It sounds like you’re off to a good start by simply acknowledging the difficulty of the situation and seeking to deal with it before it reaches crisis time.

Podcast - Diversify your diversification (3:49)

By Byron Moore, posted December 1, 2017

The following segment first aired on KEDM 90.3.

Sometimes we think about financial diversification in a very one-dimensional sense. Maybe we need to diversify our thinking … about diversification.

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When seeking advice follow the money, but focus on trust

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

follow the money_sm.jpgQuestion: Someone told me that when I look for a financial planner always look for a fee-based financial planner because they are unbiased. Is that true?

Answer: When it comes to money, no one is unbiased.

But the person who gave you that advice is on to something.

Should I wait for the market to pull back to invest?

By Byron Moore, posted November 20, 2017
Originally published in the News Star and the Shreveport Times on Sunday, November 19, 2017.
 

probability chart dice_sm.jpgQuestion: I have recently come into some money that I want to invest. With the market at an all time high, should I wait to invest this money?

Answer: It sounds as if you know where the stock market is.

But do you know where you are?

Am I crazy to hate money?

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

cash stack_0.jpgQuestion: If someone said they would give me $1,000,000, but I had to be responsible for managing it, I would turn it down. I used to own a business that was making good money, but I sold it because I hated handling all the details. Am I crazy to hate money?

Answer: You don’t sound crazy at all.

You sound like a human being. Probably a pretty nice one, too.

By the way, it doesn’t sound like you hate money so much as the details and decisions that surround its care and feeding.

Podcast - Retirement income – how much do I need? Part 2 (3:09)

By Byron Moore, posted November 9,  2017

The following segment first aired on KEDM 90.3.

A look into the three spending phases of retirement...

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The value is in the plan, not the products

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

Trophy_sm.jpgQuestion: How do I pick the best mutual fund amongst all those available? I read about so-called actively managed mutual funds and some people like them. Others think passively managed funds are best. I’m afraid I’m a bit confused by the whole discussion. Which is the best kind of fund to choose?

Answer: Have you ever watched an all star game?

The concept sounds great. You get the best players on each team in the league, split them into two teams made up of these all-star players and let them compete. Every major sport has an all-star game of one sort or another. It’s a great idea.

Unless you’ve ever watched one.

Podcast - Retirement income – how much do I need? Part 1 (3:10)

By Byron Moore, posted November 2,  2017

The following segment first aired on KEDM 90.3.

There are four things you need for a financially and emotionally healthy retirement.

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Exchange your savings account for a spending account

By Byron Moore, posted October 30, 2017
Originally published in the News Star and the Shreveport Times on Sunday, October 29, 2017.
 

piggy banks_sm.jpgQuestion: I just got a significant raise in my income at work. My wife and I are not budget people. We’ve tried and failed every time. But we don’t want my extra income to just go to frivolous stuff. What’s the best way to make sure we save my increases in income?

Answer: Reverse the way you do your banking.

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