Byron Moore, CFP® and Mike Jones

Financial planning

Podcast - Contentment – the secret to financial success (3:06)

By Byron Moore, posted October 12, 2017

The following segment first aired on KEDM 90.3.

The secret to financial security is not financial. It is contentment. 

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Cash is oxygen

By Byron Moore, posted October 9, 2017
Originally published in the News Star and the Shreveport Times on Sunday, October 8, 2017.
 

drowning_sm.jpgQ: I was always taught to pay my bills on time and avoid debt like the plague. As a business owner I try to practice these values. When I started my own business, I took out a large loan amortized over 15 years, but I am trying to pay it down as fast as I can – maybe a soon as five years. The business is profitable, but sometimes the rate at which I am paying down debt can create cash flow issues for me. What’s the balance?

A: How long could you last without oxygen? When it comes to breathing, do you think in terms of balance or unlimited access?

In business, cash is oxygen. Other than that, it’s no big deal.

Podcast - Financial organization (3:23)

By Byron Moore, posted October 5, 2017

The following segment first aired on KEDM 90.3.

Hoping to organize your finances? Let’s not do this: straighten up all the unopened bank statements and investment account reports on your desk and call that financial organization. That’s just making your mess look neater.

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Replace financial cynicism with careful trust

By Byron Moore, posted October 2, 2017
Originally published in the News Star and the Shreveport Times on Sunday, October 1, 2017.
 

trust but verify_sm.jpgQ: I had a really bad experience with a so-called financial advisor several years ago. Since then I’ve kept my affairs pretty simple and done everything I could for myself. Because of that man I really don’t trust anyone any more. The problem is that things are getting complicated enough where I do need some help. What’s the balance between being gullible and getting the help I need.

A: The word you are searching for is trust, and it’s something a bad person caused you to discard as too dangerous to handle when it comes to money.

When I was about five years old, I stuck a safety pin in an electrical socket and quickly discovered the conductivity of metal and the shocking power of electricity. I thought I would never go near a light socket again!

Podcast - Stop trying to do everything (3:52)

By Byron Moore, posted September 14, 2017

The following segment first aired on KEDM 90.3.

It’s amazing what you can get done if you stop trying to do everything…and just do one thing…at a time.

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When things go wrong, it’s good to know a pro

By Byron Moore, posted September 11, 2017
Originally published in the News Star and the Shreveport Times on Sunday, September 10, 2017.
 

Suit in storm_sm.jpgQ: I have a friend who really likes to talk about his investments. He has an account he manages on his own, and he also has an account managed by a professional. He’s always saying he can beat the pro, but he never fires the guy. I think my buddy may be full of hot air. But shouldn’t a pro be able to beat an amateur? Otherwise, what’s the point?

A: A professional should always add value. Otherwise, as you say, what’s the point?

But whenever I hear someone speaking of investment returns using competitive terminology (so-and-so “beat the market”), I’m most often hearing the opinions of the inexperienced.

Podcast - Moment of truth (2:20)

By Byron Moore, posted September 7, 2017

The following segment first aired on KEDM 90.3.

The moment of truth... every financial planning engagement has one.

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Budget tools?

By Byron Moore, posted August 14, 2017
Originally published in the News Star and the Shreveport Times on Sunday, August 13, 2017.
 

budget app_sm.jpgQ:  I know I should get on a budget. What’s the best app for that?

A: You say you know you should get on a budget.

But why do you say that?

After all, budgeting can be a pain. You already know that, or you’d already be on one. So why should anyone go to all the trouble of getting on a budget?

A budget is a spending plan. It may be simple enough to write on the back of an envelope. Or it may be so complicated that it fills up an electronic spreadsheet.

Pre-paying my mortgage – wise financial move?

By Byron Moore, posted August 7, 2017
Originally published in the News Star and the Shreveport Times on Sunday, August 6, 2017.
 

Mortgage and savings_sm.jpgQ:  Should I be pre-paying my mortgage?

A: Why would you want to do that?

That’s not a definite “no.” But I do not consider “mortgage acceleration” a one size fits all piece of financial advice everyone should follow.

Podcast - Debt among the young and old (2:33)

By Byron Moore, posted August 3, 2017

The following segment first aired on KEDM 90.3.

Helping the young person in your life stay on the right side of debt is one of the most significant life lessons you can pass on to them.

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