Byron Moore, CFP® and Mike Jones

The News Star columns

How do I develop discipline when I’ve never had it before?

By Byron Moore, posted June 19, 2017
Originally published in the News Star and the Shreveport Times on Sunday, June 18, 2017.
 

Discipline Freedom_sm.jpgQ: How does a person develop discipline when they have never had it before? This applies to many areas of my life, but money is a big one. I’ve just never been disciplined enough to make much progress financially. To be honest I wish I could just wave a magic wand and have it done for me.

A: There are no short cuts or magic tricks that will make you instantly disciplined.

Will my early retirement mean long-term worries?

By Byron Moore, posted June 12, 2017
Originally published in the News Star and the Shreveport Times on Sunday, June 11, 2017.
 

budget math.jpgQ: Our grandchildren live in another state and we are seriously considering moving to be closer to them. Work is stressful and I’d love to be done with it sooner than later. How do we know if we are ready to retire early?

A: Today’s stress always feels heavier than yesterday’s worries or tomorrow’s woes.

Will Social Security be there when I retire?

By Byron Moore, posted June 4, 2017
Originally published in the News Star and the Shreveport Times on Sunday, June 5, 2017.
 

SSA money_dm.jpgQ: Should I plan on Social Security being there for me when I retire?

A: Yes, if you are a worker covered by Social Security, you’ll receive a monthly income from Social Security when you retire.

Working for a living or living to work?

By Byron Moore, posted May 30, 2017
Originally published in the News Star and the Shreveport Times on Sunday, May 28, 2017.
 

Life Work_sm.jpgQ: I think I've made a terrible mistake. I'm in my mid 50s and my adult son just came to me and told me he feels like he's lost his father. We used to go fishing and hunting all the time, but then work picked up and I really did give up everything else to focus on that. His words cut me pretty deep, but I know he's right. So how does a workaholic like me slow down enough to live life, but still work hard enough to make enough to live on and save?

A: It sounds like you're figuring out why you are alive.

It’s a good idea to ask yourself on a regular basis, "Am I working to earn a living or working to earn meaning?" You sound as if you're at one of those inflection points in your life. If so, here are a few things to consider:

Talent is overrated

By Byron Moore, posted May 10, 2017
Originally published in the News Star and the Shreveport Times on Sunday, May 7, 2017.
 

Talent_sm.jpgQ: The most difficult thing in my business is finding talented people. Everybody’s a superstar on their resume, but when they come in for an interview it’s a different story. How do you find talented people?

A: Unicorns and all-stars are often hard to come by. In fact, I wouldn’t waste my time looking for either.

Practice a physician paradigm with any advisor

By Byron Moore, posted May 1, 2017
Originally published in the News Star and the Shreveport Times on Sunday, April 30, 2017.
 

wellness_sm.jpgQ: I’m thinking about leaving my broker. He had a hot hand for a while, but it seems like he’s lost his touch here lately. Aside from asking friends, any tips for finding one?

A: Before you change brokers, you might want to change your paradigm.

Measuring your retirement readiness

By Byron Moore, posted April 24, 2017
Originally published in the News Star and the Shreveport Times on Sunday, April 23, 2017.
 

broccoli and cabbage_sm.jpgQ: By my estimate I’ll have nearly $1,500,000 saved by the time I retire in twelve years. Is that enough to retire on?

A: Remind me…where in Monroe is the state capital located?

Sometimes a perfectly good question can be completely messed up by faulty assumptions.

How to build value into your business

By Byron Moore, posted April 17, 2017
Originally published in the News Star and the Shreveport Times on Sunday, April 16, 2017.
 

Plumbing business_sm.jpgQ: I am just starting out owning my own business. We’re doing fine, but I’d like to grow over time and create something of value that I might sell one day. How do I do that?

A: Do you own a business or simply own your job?

There is a big difference between being self-employed (a.k.a., owning your job) and owning a business that has value apart from your direct involvement. One is not superior to the other, but they are very different creatures.

Taming your financial emotions

By Byron Moore, posted April 10, 2017
Originally published in the News Star and the Shreveport Times on Sunday, April 9, 2017.
 

decision making_sm.jpgQ: I know everyone is all bullish on the stock market now that Trump has been elected, but I just don’t trust it. I’ve seen it crash two times before and I’m looking for a third crash any time now. I used to be more optimistic, but not anymore. What do you think?

A: Sometimes I think it would be a good idea if I got up each morning, looked myself in the mirror, and said, “You’re an emotional idiot. Go get some perspective.”

Are you financially colorblind?

By Byron Moore, posted April 3, 2017
Originally published in the News Star and the Shreveport Times on Sunday, April 2, 2017.
 
 
colorblind_sm.jpgQ: I am mid-career, doing well there with good prospects for advancement. The stock market seems to be doing good, so that’s where I have most of my 401K money. It had an awesome year last year. I think I’m hitting on all cylinders. Anything I’m leaving out?
 

A: Only that which you can’t see. Or won’t.

Former president Bill Clinton, Facebook founder Mark Zuckerburg, actor Paul Newman and iconic American humorist Mark Twain all have one thing in common. They have stated publicly that they are color blind.

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