Byron Moore, CFP® and Mike Jones

The News Star columns

What’s on your wish list?

By Byron Moore, posted August 12th, 2014

The following column was published in The News Star on Saturday, August 9, 2014.

Question: My husband and I have started talking about getting a little place on the lake. But I just keep feeling guilty that we are wasting money on ourselves. I know if we had a lake house we could share it with other people, have family there and other things. Is this too extravagant?

Answer: It sounds like you’ve got item number one on your wish list.

Financial flexibility important as you age

By Byron Moore, posted August 5th, 2014

The following column was published in The News Star on Saturday, August 2, 2014.

Question: We’ve got the last kid graduated from college and we’ve probably got ten or fifteen years left before we both retire. It’s going to be close, but we should make it. Having said that, we’re thinking about building our dream house. How crazy is that? Is it dumb to take a mortgage into retirement?

Answer: The dumb part would be entering retirement with no financial flexibility.

Understanding income taxes in retirement

By Byron Moore, posted July 28th, 2014

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

Question: I’ve done a pretty good job of building up my 401K and I think I’ve got plenty of money in there for when I retire. But how much can I take out each year? Is there some limit on that?

Answer: Legally, no. Practically, yes.

Know the difference between hoarding and affording

By Byron Moore, posted July 21st, 2014

The following column was published in The News Star on Saturday, July 19, 2014.

Question: My car is embarrassing. The paint is chipping, part of my bumper is literally wired on and it blows more smoke than a train. When I talk to my husband about getting a new car, he says we can’t afford one. But that’s ridiculous…we make plenty of money. He just hates to spend it. What do I do?

Answer: The difference between affording and hoarding is usually fear. And fear usually thrives in the absence of facts.

Stressful succession

By Byron Moore, posted July 14th, 2014

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

Question: I own a business and my son has been with me in it for about ten years. I would like to think that one day I could go to the house and he could run it and eventually inherit it from me. But it just doesn’t seem like he’s catching on to what it will take to run this business. It takes a lot! It would break his heart to not get the business one day, but I’m not sure he can handle it? What do I do?

Answer: Do you feel like you’ve got to choose between your son and your business? A broken heart or a broken business? Some choice!

Intra-family loans

By Byron Moore, posted July 7th, 2014

The following column was published in The News Star on Thursday, July 3, 2014.

Question: We’ve gotten deeper into debt than I would have ever imagined possible. In addition to my house, we’ve got two car loans and four credit cards. We’re not behind on anything, but I’m paying nearly half my paycheck on loan payments! My parents offered to help, but with interest rates so low, they are struggling with lower income themselves. What do you suggest?

Answer: Cut out the middle man.

Habits of thrift

By Byron Moore, posted June 30th, 2014

The following column was published in The News Star on Saturday, June 28, 2014.

Question: My wife and I have struggled to be able to save money. There are just so many things that come up and we just don’t have that much money left over. How do other people do it?

Answer: One way to get the wrong answer every time is to ask the wrong question.

Reacting vs. responding to financial disagreements

By Byron Moore, posted June 23rd, 2014

The following column was published in The News Star on Saturday, June 21, 2014.

Question: Finances are a very volatile subject in our home. We’ve gotten to the place that whenever the topic comes up, I can feel myself getting mad. We actually do fairly well with most of the big stuff, but some little things can just set us both off. Any suggestions?

Answer: It sounds like you are both reacting.

Income inequality

By Byron Moore, posted June 16th, 2014

The following column was published in The News Star on Saturday, June 14, 2014.

Question: I hear and read a lot about income inequality. There have always been rich people and poor people. I don’t really see myself as rich or poor. It doesn’t bother me that somebody makes more money than I do. Why is this a problem now? Has something changed?

Answer: It depends on whom you ask.

Has gold lost its shine?

By Byron Moore, posted June 9th, 2014

The following column was published in The News Star on Saturday, June 7, 2014.

Question: What’s happening with the downslide in the market price of gold? When can we expect gold’s price to increase?

Answer: The last time I wrote a column addressing the price of gold was 2007. At the time, gold was trading for about $700 an ounce. At this writing, gold is trading for a tad above $1200 an ounce. That’s about 8% growth per year.

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