Byron Moore, CFP® and Mike Jones

The News Star columns

Understanding financial side effects

By Byron Moore, posted March 19, 2018
Originally published in the News Star and the Shreveport Times on Sunday, March 18, 2018.
 

side effects_sm.jpgQuestion: Do you pay taxes on money you make when it’s in a mutual fund?

Answer: Generally speaking, yes.

I’m pretty sure every program on network television is currently being funded by drug company commercials.

What is the biggest unknown about retirement?

By Byron Moore, posted March 12, 2018
Originally published in the News Star and the Shreveport Times on Sunday, March 11, 2018.
 

red carpet_sm.jpgQuestion: I’m not the kind of person who likes surprises. In your experience, what is the biggest surprise facing most retirees and what can I do to get ready for it now?

Answer: Wow. That could be a long list.

Like the Oscars, an announcer might read from a cue card, “And the nominees for Biggest Surprise in Retirement are…” (drum roll, please)…

Your debt is proof you can save money

By Byron Moore, posted March 5, 2018
Originally published in the News Star and the Shreveport Times on Sunday, March 4, 2018.
 

credit card online shopping_sm.jpgQuestion: I have gotten into so much credit card debt that I don’t think I can ever save any money. How can I turn this around?

Answer: Actually, you are already saving money. You’re just doing it in reverse… and for someone else.

Budgeting made easy – stop budgeting, pt. 2

By Byron Moore, posted February 26, 2018
Originally published in the News Star and the Shreveport Times on Sunday, February 25, 2018.
 

abacus_sm.jpgQuestion: I keep trying to figure a budgeting system that will work for me. But I keep failing. Do you have a favorite app to recommend?

Answer: Most people hate budgeting for the same reason I hate counting calories. Eventually, you just get tired of fiddling with all the details and in a moment of frustration, you fall back into old habits.

Budgeting made easy – stop budgeting, pt. 1

By Byron Moore, posted February 20, 2018
Originally published in the News Star and the Shreveport Times on Sunday, February 18, 2018.
 

abacus_sm.jpgQuestion: I keep trying to figure a budgeting system that will work for me. But I keep failing. Do you have a favorite app to recommend?

Answer: Do you have areas of your life in which you are constantly hitting the reset button?

First things first

By Byron Moore, posted February 12, 2018
Originally published in the News Star and the Shreveport Times on Sunday, February 11, 2018.
 

Foundation_sm.jpgQuestion: I am about to sign up for my company’s retirement plan. I’m 40 and getting a late start. With the market where it is, where should I invest the money now?

Answer: Maybe in something outside a retirement plan. And maybe in something that isn’t an investment at all.

What's the difference between a pension and a 401K?

By Byron Moore, posted February 5, 2018
Originally published in the News Star and the Shreveport Times on Sunday, February 4, 2018.
 

Simple math_sm.jpgQuestion: What is the difference between a pension and a 401K plan? I know they both have to do with retirement, but are they the same thing?

Answer: They are not.

In some ways, retirement planning is like a math problem. In reality, it is much more than a math problem, but there are similarities.

The secret of financial and career confidence

By Byron Moore, posted January 29, 2018
Originally published in the News Star and the Shreveport Times on Sunday, January 28, 2018.
 

goals_kid airplane taking off_sm.jpgQuestion: My children seem to have little initiative to set out and build a career as I did. We feel as if we have given them every advantage. Any hints on how to incentivize my children to succeed?

Answer: A father once told me he was driven to succeed financially because of all the hardships he had to endure as a child. He didn’t want his children to have to face the same difficulties he had.

Financial wellness

By Byron Moore, posted January 22, 2018
Originally published in the News Star and the Shreveport Times on Sunday, January 21, 2018.
 

piggybank with stethoscope_sm.jpgQuestion: What is financial wellness? I am a human resources professional and financial wellness is a hot topic among my peers. The idea is that if we provide financial wellness training for our employees, they can be more stable and productive for their employers. That sounds good, but I’m not even sure how to define the term, much less offer training for it.

Answer: I think it would be helpful to think of financial wellness in much the same way we think of physical wellness. It isn’t so much a destination as a state of being.

Retirement goal setting – aim at what you require, desire and aspire

By Byron Moore, posted January 16, 2018
Originally published in the News Star and the Shreveport Times on Sunday, January 14, 2018.
 

goal setting_sm.jpgQuestion: My wife and I are setting some goals with respect to our retirement and we have a question. Should we be pessimistic or optimistic about how things will go, both now and in retirement? I’ve run different scenarios and things can really turn out wildly different depending on what assumptions you use.

Answer: One of the great unspoken sins of my profession (financial planning) is allowing people to think we can forecast the future with any greater precision than a palm reader.

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