Byron Moore, CFP® and Mike Jones

The News Star columns

Think you’ve got a “can’t miss” idea? Keep thinking…

By Byron Moore, posted August 29, 2016
Originally published in the News Star and the Shreveport Times on Sunday, August 28, 2016.
 

Opportunity_sm.jpegQuestion: A friend of mine approached me about investing in a start-up business he’s involved in. I am not at liberty to divulge any details, but I think the idea is brilliant. I really don’t see how it can miss. My question is, what is the best way for me to make this investment – personally, through my IRA or with an LLC I set up?

Answer: Whoa boy. You’re about 100 steps ahead of the parade and it might not even be going your way.

Spend it, lose it or leave it

By Byron Moore, posted August 21, 2016
Originally published in the News Star and the Shreveport Times on Sunday, August 22, 2016.
 

Full piggy bank_sm.jpegQuestion: I think I may be opposite of most people – I am a compulsive saver. Or at least that’s what my wife says. I am always concerned that we will need the money and it won’t be there because we’ve spent it on something frivolous. I’m sure it’s how I was raised. I grew up poor. But my wife is about to get tired of it and I can see her point. How do I free myself from thinking this way?

Answer: Undefined dangers loom large in the mind.

Good intentions can diminish over time

By Byron Moore, posted August 15, 2016
Originally published in the News Star and the Shreveport Times on Sunday, August 14, 2016.
 

Last Will_sm.jpgQuestion: My plan is to leave everything to my wife after I’m gone and she’s doing the same with me. Then when the second one of us is gone, the kids will get everything more or less equally. That’s what our wills say. We are both in second marriages and both of us have our own set of children. But they are all adults, on their own and doing fine. Everyone gets along fine. Isn’t this simple approach the best?

Answer: Your plan strikes me as loving, well-prioritized, simple…and potentially disastrous.

Reverse mortgages

By Byron Moore, posted August 8, 2016
Originally published in the News Star and the Shreveport Times on Sunday, August 7, 2016.
 

ReverseMortgage_sm.jpgQuestion: I've read a lot about reverse mortgages but it's still confusing. I can't tell if it's a good thing or a bad thing. Could you please give me your opinion! Thanks.

Answer: Even the most expensive lifeboat is a bargain when your ship is sinking.

Estate planning for not-ready-for-prime-time heirs

By Byron Moore, posted August 1, 2016
Originally published in the News Star and the Shreveport Times on Sunday, July 31, 2016.
 

irresponsible heir_sm.jpgQuestion: We know we need to do some estate planning but we have several children and not all of them are equally fit to handle a significant inheritance. But we don’t want to disinherit them. Is a trust the answer?

Answer: Having your attorney draft a legal trust may be a part of the answer. But may I suggest an attempt at re-building relational trust before you die?

Not everyone wants the same thing in retirement

By Byron Moore, posted July 25, 2016
Originally published in the News Star and the Shreveport Times on Sunday, July 24, 2016.
 
retirement beach_sm.jpgQuestion: I’m starting to get serious about retirement. Should I start by maxing out my 401K and investing it in one of those target date retirement funds?
 
Answer: You’re talking about tools. I suggest you start with goals.

Confidence is a result, but courage is a choice

By Byron Moore, posted July 19, 2016
Originally published in the News Star and the Shreveport Times on Sunday, July 17, 2016.
 
Confidence_sm.jpgQuestion: I have a lot of big dreams for my business, but I end up getting scared out of them. On paper my plans make sense to me, but I keep worrying about all the “what ifs.” Where do I find the confidence to move forward?
 
Answer: You don’t. It usually finds you. But by then, it’s too late.

Long-term care – the costs you never thought of

By Byron Moore, posted July 11, 2016
Originally published in the News Star and the Shreveport Times on Sunday, July 10, 2016.
 
elder care_sm.jpgQuestion: My parents are aging and my dad is sickly. They’re OK now, but I can see the day when Dad is going to need more care than Mom can give him. We may hire someone to help her so we don’t have to go to all the expense of a nursing home. Besides, Dad prefers being at home. But that may not always be an option. What do we need to be thinking about to prepare for the next step?
 
Answer: Long-term care is expensive. And sometimes it costs a lot of money, too.

Why Freedom?

By Byron Moore, posted July 4, 2016
Originally published in the News Star and the Shreveport Times on Sunday, July 3, 2016.

Brexit_sm.jpg

Question: What is the whole Brexit thing about?
 
Answer: Some say economics. Others say identity. Still others freedom.

Growing your business the right way

By Byron Moore, posted June 27, 2016
Originally published in the News Star and the Shreveport Times on Sunday, June 26, 2016.
 

businessowner_sw.jpgQuestion: For years it’s been just me running my little business. But now I’ve got some opportunities to expand things and I’d like to see my business grow. What things do I need to keep in mind as my business expands?

Answer: Too often growing results in groaning. It doesn’t have to be that way.

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