Wisdom on Wealth

Originally published in the News Star and the Shreveport Times on Sunday, June 28, 2015.

Question: How do I know if I need long-term care insurance? It’s so expensive.

Answer: What’s so expensive? Long-term care insurance…or long-term care? 

The following segment first aired on KEDM 90.3 on February 18, 2015

Originally published in the News Star and the Shreveport Times on Sunday, June 21, 2015.

Question: I am considering switching jobs, which would mean more money, but also more travel. My wife and I have three small children and she is concerned about how my traveling might affect our children. I would give us a “C+” on how we’ve managed our money so far, but we’re doing OK. Being a good father is very important to me, but I tend to think more money each month would make me more relaxed when I am with the kids. What do you think?

Answer: Quality time is a myth.

By Mike Jones, posted June 18, 2015

Interest rates are finally going to rise.  As I write this report I am listening to a press conference with our new Chairperson of the Open Market Committee of the Federal Reserve (aka the Fed), Janet Yellen, who is discussion why the Central Bank of the United States of America is finally approaching "lift off."  Well, sort of.

By Byron Moore, posted June 18, 2015

Question: I've got several maxed out credits cards I want to get rid. I'm thinking of using some of my retirement money to just go ahead and pay them off. Then I can save the money I was paying to my credit cards. I figure this is better since I am paying very high interest rates on those credit cards. I really hate debt and I want to get out from under it. Is this a good strategy?

Answer: No.

Your words are saying one thing, but your actions deliver a very different message.

The following segment first aired on KEDM 90.3 on February 11, 2015

Originally published in the News Star and the Shreveport Times on Sunday, June 14, 2015.

Question: I have an IRA with an insurance company. A man sold it to me years ago, but I haven’t heard from him in years. It has stocks and bonds in it but the papers also say something about an annuity. It’s actually done pretty good these last few years. What do I have and should I keep it? 

Answer: It sounds like you own something called a variable annuity. And it further sounds like your variable annuity has been put inside an IRA. Let’s examine this puzzle one piece at a time to see if you’ve got what you need.

Originally published in the News Star and the Shreveport Times on Sunday, June 7, 2015.

Question: I’m just about to start in my company’s 401k. I’m super excited, but I am also concerned. I don’t want to mess this up. So what are the biggest mistakes you’ve seen people make with their 401k and how can I not do that?

Answer: James Joyce called mistakes “the portals of discovery.”

The following segment first aired on KEDM 90.3 on February 4, 2015

Originally published in the News Star and the Shreveport Times on Sunday, May 31, 2015.

Question: I keep hearing and reading that I am supposed to be diversified in my investments. I feel dumb asking, but what does that even mean? 

Answer: Last week we looked at diversification of the assets that make up your investment portfolio. That’s what most folks think of when the term “diversification” is used.