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Podcast: Trusting financial institutions (4:00)

Submitted by Byron Moore, CFP® & Mike Jones on September 3rd, 2015
By Byron Moore, posted September 3, 2015

The following segment first aired on KEDM 90.3 on June 3, 2015

One of the residual effects of the financial crisis is a deep distrust of financial institutions. Especially large ones.

Financial institutions are sometimes run by good guys, sometimes bad. But all of them have a plan to make things better for themselves.

The best way to deal most effectively with any of them starts with a carefully crafted financial plan of your own.

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Work inside – what to do if the stock market rains losses

Submitted by Byron Moore, CFP® & Mike Jones on August 31st, 2015
By Byron Moore, posted August 31, 2015
Originally published in the News Star and the Shreveport Times on Sunday, August 30, 2015.
 

QUESTION: I told myself I would focus on getting my financial life in order, and now it looks like the stock market is falling apart. Have I just picked the wrong time? Better to wait until later?

ANSWER: Later…when?

It’s August in Louisiana, and for most of us that means hot weather and dry, crispy brown grass. It seems as if the sky has forgotten how to rain; and if it does rain, it only lasts for a loud, thunder pounding moment, followed by more steamy humidity.

Podcast: Confusing symbolism for substance (3:25)

Submitted by Byron Moore, CFP® & Mike Jones on August 27th, 2015
By Byron Moore, posted August 27, 2015

The following segment first aired on KEDM 90.3 on May 20, 2015

Don’t confuse symbolism for substance when trying to save money.

If you want to save money, you’re going to have to get serious.

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Protection: play a scrimmage game before the season starts

Submitted by Byron Moore, CFP® & Mike Jones on August 24th, 2015
By Byron Moore, posted August 24, 2015
Originally published in the News Star on Sunday, August 23, 2015.
 

scrimmage_0.jpgQUESTION: We were renting a house and after a freakishly hard rain some exterior drained clogged up and our house ended up with two feet of water in it for about an hour. It drained after the rain stopped, but the damage was done. We had renters insurance, but found out none of our stuff was covered for flood damage. How are we supposed to know this stuff? We’re out thousands of dollars. 

ANSWER: You and your agent needed to play a scrimmage game before the season started.

Personal implications of current financial markets

Submitted by Byron Moore, CFP® & Mike Jones on August 20th, 2015

By Mike Jones, posted August 20, 2015

 

First, from a recent Investment News article:

There are times when expectations don't square well with reality. Today, the expectations many investors have baked into their financial plans for the future are based upon recent or historic returns. But the reality is that we are likely to be entering a protracted period of abnormally low portfolio returns, and relatively few investors are prepared for it.

Financial parenting – is your goal to limit or to launch?

Submitted by Byron Moore, CFP® & Mike Jones on August 17th, 2015
By Byron Moore, posted August 17, 2015
Originally published in the News Star and the Shreveport Times on Sunday, August 16, 2015.
 
Teen money.jpg​Question: I come from a family that was very tight with our money. We had to earn everything and my parents never gave me anything. I learned a lot about working, but I also admit I have had some hard feelings about the way I was raised. My wife comes from a family that paid for everything for her. I had to tone down her spending when we first got married, but she seems to have a better relationship with her parents than I do with mine. I’d like to raise our kids so it didn’t have to be one or the other. Any ideas on that?
 

Answer: Parenting is a paradox. It is the most selfless and the most selfish thing you will ever do.

Podcast: Character & Content

Submitted by Byron Moore, CFP® & Mike Jones on August 13th, 2015
By Byron Moore, posted August 13, 2015

The following segment first aired on KEDM 90.3 on May 6, 2015

Remember, when evaluating deals (financial or otherwise) the person is not the proposal.

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What do I do with a windfall?

Submitted by Byron Moore, CFP® & Mike Jones on August 10th, 2015
By Byron Moore, posted August 10, 2015
Originally published in the News Star on Sunday, August 9, 2015.
 
cash stack_0.jpgQuestion: I have recently come into a lot of money. More money than I could have ever imagined. I’m not sure where to start or what to do. It’s in the bank and more comes in every month. I’m not sure how long this will last, but it’s already a bunch. I don’t want to be one of those idiots who blows the whole thing. What do I do?
 

Answer: Windfalls come in all shapes and sizes

I remember a guy who came to see me years ago from out of state. He’d won a big lawsuit and his part of the settlement was over $1,000,000. He never dreamed he would see that much money in his life. He took a vow of poverty, promised to “not change anything” and to not be one of those foolish people who spend it all. This was his ticket.

Podcast: Sweat the small stuff

Submitted by Byron Moore, CFP® & Mike Jones on August 6th, 2015
By Byron Moore, posted August 6, 2015

The following segment first aired on KEDM 90.3 on April 15, 2015

There’s a lot to be said for the approach to life that says, “Don’t sweat the small stuff.”

On the other hand, I really want the guy who does my heart surgery to be detail oriented, sweating the small stuff.

This tension exists in your financial life as well. 

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Is my ex-wife entitled to my Social Security benefits?

Submitted by Byron Moore, CFP® & Mike Jones on August 3rd, 2015
By Byron Moore, posted August 3, 2015
Originally published in the News Star and the Shreveport Times on Sunday, August 2, 2015.
 

Question: I have been married to my ex wife for 6 1/2 years. We still live together but we are not married. Is she entitled to survivor benefits? We are now 16+ years and we have had kids after our divorce. Please explain.

Answer: You’re telling me you are married to your ex-wife, and you want me to explain?

I’m going to have to make a few assumptions here: you were married for 6 ½ years. Then you got divorced. But you’re saying you’ve been together for a total of 16+ years. If so, you were married 6 ½ years, divorced, but stayed together another 10 years after that.

And, you had children together after your divorce.

I’ve heard people say they get along well with their ex, but that’s getting along pretty well.

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