Byron Moore, CFP® and Mike Jones

Shreveport Times columns

Cash is oxygen

By Byron Moore, posted October 9, 2017
Originally published in the News Star and the Shreveport Times on Sunday, October 8, 2017.
 

drowning_sm.jpgQ: I was always taught to pay my bills on time and avoid debt like the plague. As a business owner I try to practice these values. When I started my own business, I took out a large loan amortized over 15 years, but I am trying to pay it down as fast as I can – maybe a soon as five years. The business is profitable, but sometimes the rate at which I am paying down debt can create cash flow issues for me. What’s the balance?

A: How long could you last without oxygen? When it comes to breathing, do you think in terms of balance or unlimited access?

In business, cash is oxygen. Other than that, it’s no big deal.

Replace financial cynicism with careful trust

By Byron Moore, posted October 2, 2017
Originally published in the News Star and the Shreveport Times on Sunday, October 1, 2017.
 

trust but verify_sm.jpgQ: I had a really bad experience with a so-called financial advisor several years ago. Since then I’ve kept my affairs pretty simple and done everything I could for myself. Because of that man I really don’t trust anyone any more. The problem is that things are getting complicated enough where I do need some help. What’s the balance between being gullible and getting the help I need.

A: The word you are searching for is trust, and it’s something a bad person caused you to discard as too dangerous to handle when it comes to money.

When I was about five years old, I stuck a safety pin in an electrical socket and quickly discovered the conductivity of metal and the shocking power of electricity. I thought I would never go near a light socket again!

Stages of an entrepreneur’s life

By Byron Moore, posted September 25, 2017
Originally published in the News Star and the Shreveport Times on Sunday, September 24, 2017.
 

Open_neon sign_sm.jpgQ: We started a business a few years ago. It was rough at first, but we finally got our act together. We’re making plenty of money now, but I’m feeling restless. I can’t imagine walking away from what I’ve built, but frankly I’m a little bored. What have you seen others do in this situation?

A: Sometimes I’ve seen them to some really stupid things. Other times, I’ve seen them just continue to do the same things.

But I’ve seen a few do some significant things, and I think they are the happiest with their choices.

Owner’s exit – good plan or “good grief!”

By Byron Moore, posted September 18, 2017
Originally published in the News Star and the Shreveport Times on Sunday, September 17, 2017.
 

Q: My business partner and I bought insurance on each other years ago in case something happens to one of us. Somebody told me we need a buy-sell agreement to go along with that. If it’s just the two of us, do we have to get that formal?

A: When was the last time your sister-in-law had access to your bank account?

If the answer is “never,” you might want to re-think your affinity for informality in this instance.

When things go wrong, it’s good to know a pro

By Byron Moore, posted September 11, 2017
Originally published in the News Star and the Shreveport Times on Sunday, September 10, 2017.
 

Suit in storm_sm.jpgQ: I have a friend who really likes to talk about his investments. He has an account he manages on his own, and he also has an account managed by a professional. He’s always saying he can beat the pro, but he never fires the guy. I think my buddy may be full of hot air. But shouldn’t a pro be able to beat an amateur? Otherwise, what’s the point?

A: A professional should always add value. Otherwise, as you say, what’s the point?

But whenever I hear someone speaking of investment returns using competitive terminology (so-and-so “beat the market”), I’m most often hearing the opinions of the inexperienced.

Learn to love your work

By Byron Moore, posted September 5, 2017
Originally published in the News Star and the Shreveport Times on Sunday, September 3, 2017.
 

superhero employee_sm.jpgQ: Last week you wrote about somebody who hates their job and wants to get out. Well, I don’t so much hate my job as I feel I am not reaching my potential. I work with nice people in a nice environment, but I don’t feel super useful. I don’t really want to leave my job, but I want to feel better about myself in my job. Does that make sense?

A: Totally. 

You may recall in last week’s column I drew from David Covey’s four secrets to a successful and fulfilling career: making enough money, making a contribution, having passion and making a difference.

Escape that job you hate

By Byron Moore, posted August 29, 2017
Originally published in the News Star and the Shreveport Times on Sunday, August 27, 2017.
 

job hate_sm.jpgQ:  I hate my job. Absolutely hate it. But I have a family I support so I can’t leave. What do I do?

A: You feel trapped.

I’m not sure why…it may be your job. Or it may be you. No matter.

Either way, you must be free. Just make sure you don’t jump out of one trap straight into another.

When should I begin taking my Social Security?

By Byron Moore, posted August 21, 2017
Originally published in the News Star and the Shreveport Times on Sunday, August 20, 2017.
 

SSA money_dm.jpgQ:  When should I begin taking my Social Security?

A: If you’ll tell me how long you’re going to live, I can give you a perfect answer to that question.

For everyone else, we’re going to have to make an informed guess.

Budget tools?

By Byron Moore, posted August 14, 2017
Originally published in the News Star and the Shreveport Times on Sunday, August 13, 2017.
 

budget app_sm.jpgQ:  I know I should get on a budget. What’s the best app for that?

A: You say you know you should get on a budget.

But why do you say that?

After all, budgeting can be a pain. You already know that, or you’d already be on one. So why should anyone go to all the trouble of getting on a budget?

A budget is a spending plan. It may be simple enough to write on the back of an envelope. Or it may be so complicated that it fills up an electronic spreadsheet.

Pre-paying my mortgage – wise financial move?

By Byron Moore, posted August 7, 2017
Originally published in the News Star and the Shreveport Times on Sunday, August 6, 2017.
 

Mortgage and savings_sm.jpgQ:  Should I be pre-paying my mortgage?

A: Why would you want to do that?

That’s not a definite “no.” But I do not consider “mortgage acceleration” a one size fits all piece of financial advice everyone should follow.

Have you met our team?

We have a wealth of experience
in the financial services industry.

Meet the team

Syndicate content

Please review Important Disclosure Information set forth in the last section of this web site.

Website Design For Financial Services Professionals | Copyright 2017 AdvisorWebsites.com. All rights reserved