Byron Moore, CFP® and Mike Jones

The News Star columns

What are the ingredients for a good financial plan?

By Byron Moore, posted May 27th, 2014

The following column was published in The News Star on Saturday, May 24, 2014.

Question: Can you tell me what really makes for a good financial plan? I’m not really sure what all I should try to plan for. What do most people do?

Answer: What do most people do? Nothing.

Plan like a pessimist, live like an optimist

By Byron Moore, posted May 19th, 2014

The following column was published in The News Star on Saturday, May 17, 2014.

Question: I like to consider myself as a positive person. I don’t want to be negative about myself or my future. But when I look around at what’s going on in the world and in our country, it’s hard not be somewhat pessimistic. Is my newfound pessimism justified, or am I just getting to be an old curmudgeon?  

Answer: Curmudgeon? No. Let’s just say you’ve got a case of emerging maturity.

myRAs and 401Ks – what to do?

By Byron Moore, posted May 12th, 2014

The following column was published in The News Star on Saturday, May 10, 2014.

Question: I wanted to know your thoughts on the new “myRA” that should be rolling out this year.  I have a 401k with my current employer but really like the idea of principal protection even with the small amount of return.  I'm 33 years old with approximately 30k total in both accounts.  My 401k is set for medium risk with a 3% deposit with 3% match.  Should I be more aggressive?

Answer: You’re asking about whether to throw deep or run it up the middle during the first quarter.

Retirement budgeting… Think realistically and don’t forget your meds

By Byron Moore, posted May 5th, 2014

The following column was published in The News Star on Saturday, May 3, 2014.

Question: We’re trying to get our budget re-worked for when we retire in a few years. I know we’ll have Medicare and our costs for medical insurance will go away and that we’ll have Social Security coming in. Our debts should all be paid off. What else do we need to be thinking about?

Answer: Hold your horses, Roy Rogers. You need to check your assumptions.

What's your approach to retirement income: Safety or Opportunity?

By Byron Moore, posted April 28th, 2014

The following column was published in The News Star on Saturday, April 26, 2014.

Question: With my retirement coming up I did what everyone says to do - I interviewed three advisors that I'd either read about or heard about from friends. My problem is that they all tell a different story. One guy is a super big believer in the stock market and says everything will go up in the end. Another guy tells all kinds of scary stories about losing all your money in the stock market. And another seems kind of in between. How do I pick?

Answer: So you've interviewed three advisors - good. Now, interview yourself.

Emotions: a powerful financial force for help or harm

By Byron Moore, posted April 22nd, 2014

The following column was published in The News Star on Monday, April 21, 2014.

Question: My wife and I work together and she’s great at so many things. But when it comes to money, she can be so emotional. About everything really, not just money. How can I get her to see that?

Answer: See what? That she’s emotional?

Lump sum buy out or a monthly pension?

By Byron Moore, posted April 14th, 2014

The following column was published in The News Star on Saturday, April 12, 2014.

Question: I’ve worked for the same company for most of my career. Now they are offering me a retirement pension check or a lump sum of money instead. Which is usually better?

Answer: The question you need to ask is, “Which option is better for me?”

Annuities – what are they? Do I need one?

By Byron Moore, posted April 8th, 2014

The following column was published in The News Star on Saturday, April 5, 2014.

Question: I’ve been hearing advertisements on the radio for annuities for retirement. What are these and do I need one?

Answer: Annuities may be a useful tool in your retirement income toolkit. But they are no substitute for a plan.

Getting back to normal

By Byron Moore, posted March 31st, 2014

The following column was published in The News Star on Saturday, March 29, 2014.

Question: My husband and I were talking about the economy and the business environment and we were both wondering when things would ever get back to normal again. Then we laughed, because we can’t even remember what normal is supposed to be like. We just know this isn’t it! What do you think?

Answer: Isn’t it funny - things are always getting back to normal. But they are rarely normal. What’s that all about?

Stop trying to avoid risk, start managing it

By Byron Moore, posted March 24th, 2014

The following column was published in The News Star on Saturday, March 22, 2014.

Question: I know everybody’s talking happy talk about how good the economy is getting, but I am still very much afraid we’re not out of the woods yet. Makes me afraid to take chances with my money. I’d rather put it in land. I know farm land prices are up, but at least you’ve got something. 

Answer: Funny thing about fear – it often tricks us into exchanging one perceived problem for a much larger one.

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