Byron Moore, CFP® and Mike Jones

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Wisdom on Wealth

Retiring with more than enough

Submitted by Byron Moore, CFP® & Mike Jones on May 16th, 2016
By Byron Moore, posted May 16, 2016
Originally published in the News Star on Sunday, May 15, 2016.
 
Travel in retirement_sm.jpgQuestion: We’re looking at retirement within a year or two. I’ve been fortunate enough to work for a company that provides me with a pension. Between the pension and our Social Security, we’re actually going to get a raise in retirement. We’ll have more than enough to live on. Plus we have a lot of money put back in our 401K plans. A lot. I now realize we may never touch that money. What should we do with it now?
 

Answer: First of all, congratulations. It sounds like you’ve done a great job of preparing for your retirement.

Don’t let resentment distort your choices

Submitted by Byron Moore, CFP® & Mike Jones on May 9th, 2016
By Byron Moore, posted May 9, 2016
Originally published in the News Star and the Shreveport Times on Sunday, May 8, 2016.
 

wing walker_sm.jpgQuestion: I have worked at the same place for over 20 years. I can probably retire in five to ten years. But things have changed so much at work. I feel ignored, overlooked and totally taken for granted. My pay has not gone down, but that’s not all there is to a job. Do I hang on and hate it, find a new job (not easy to do!) or just retire now and keep my sanity?

Answer: There’s a big difference between reacting and responding.

What happens if I outlive one of my heirs?

Submitted by Byron Moore, CFP® & Mike Jones on May 2nd, 2016
By Byron Moore, posted May 2, 2016
Originally published in the News Star and the Shreveport Times on Sunday, May 1, 2016.
 

Outliving heirs_sw.jpgQuestion: I have lived longer than I thought I ever would. I’ve been blessed with several children and grandchildren. Now I am faced with the possibility that I could outlive some of them. What would happen if I live longer than one of my children? Would their children get their portion of my estate? I have one child who never had any children of her own.

Answer: What do you want to happen?

What are negative interest rates and why should I care?

Submitted by Byron Moore, CFP® & Mike Jones on April 25th, 2016
By Byron Moore, posted April 25, 2016
Originally published in the News Star and the Shreveport Times on Sunday, April 24, 2016.
 

falling interest rates_sm.jpgQuestion: I try to keep up with financial news a little, and I keep hearing about something called negative interest rates. What are they and do they have anything to do with me?

Answer: When my now (almost) 90 year old father opened his first savings account as a young man in a small bank in Mississippi, the banker smiled broadly at him while extending his hand to shake and announced ceremonially, “And the best part about banking with us is that we won’t charge you a dime to keep your money here!”

Mega rich athletes and financial planning for the rest of us

Submitted by Byron Moore, CFP® & Mike Jones on April 21st, 2016

By Mike Jones, posted April 21, 2016

Recently I found myself sucked into one of those websites that discloses information on top athletes who made millions of dollars yet somehow lost or spent it all.  Those kinds of stories intrigue me and always get me to thinking about personal finances, budgets, happiness and life in general.

Retirement choice – lump sum or monthly check?

Submitted by Byron Moore, CFP® & Mike Jones on April 18th, 2016
By Byron Moore, posted April 17, 2016
Originally published in the News Star and the Shreveport Times on Sunday, April 18, 2016.

retirement ahead_sm.jpeg

Question: My company is going through a downsizing and my job has been eliminated. I’m going to have to find another job, but now my old employer is giving me a choice to take my retirement from them in a big lump sum of money now or as a regular retirement check when I hit 65. Which is better?

Answer: You need to keep going with your question.

Rather than ask, “Which is better?” may I suggest, “Which is better for me?”

Wealth coordination – the key to financial agility

Submitted by Byron Moore, CFP® & Mike Jones on April 11th, 2016
By Byron Moore, posted April 11, 2016
Originally published in the News Star and the Shreveport Times on Sunday, April 10, 2016.
 
deposit slip small.jpgQuestion: I struggle with follow through. I’ve made several financial promises to myself, but I just don’t keep up with the details. The only thing I can say I’ve ever done consistently is my 401k, and that’s because it happens automatically and I never think about it. What can I do to improve my follow through?
 

Answer: Make it automatic. Like that 401k of yours.

Job insecurity – good reason to delay planning?

Submitted by Byron Moore, CFP® & Mike Jones on April 4th, 2016
By Byron Moore, posted April 4, 2016
Originally published in the News Star and the Shreveport Times on Sunday, April 3, 2016.
 
pinkslip sm.jpgQuestion: I am realizing that the dramatically lower price of oil could affect my job, even though my work is not directly oil field related. All the uncertainty has me wondering how effective long-term planning can be during times like these. What do you think?
 
Answer: “My life has been filled with terrible misfortune; most of which never happened.” 
 

So said French philosopher Michel de Montaigne over 500 years ago…

Job insecurity – good reason to delay planning?

Submitted by Byron Moore, CFP® & Mike Jones on April 4th, 2016
By Byron Moore, posted April 4, 2016
Originally published in the News Star and the Shreveport Times on Sunday, April 3, 2016.
 
pinkslip sm.jpgQuestion: I am realizing that the dramatically lower price of oil could affect my job, even though my work is not directly oil field related. All the uncertainty has me wondering how effective long-term planning can be during times like these. What do you think?

Answer: “My life has been filled with terrible misfortune; most of which never happened.” 

So said French philosopher Michel de Montaigne over 500 years ago…

What is my business worth?

Submitted by Byron Moore, CFP® & Mike Jones on March 28th, 2016
By Byron Moore, posted March 28, 2016
Originally published in the News Star and the Shreveport Times on Sunday, March 27, 2016.

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