Wisdom on Wealth

The following column was published in The News Star on Saturday, Februrary 22, 2014.

Question: I own a successful small business. One day I hope to sell it, but it is rather specialized and the market for a business like mine is pretty small. None of my employees are capable of running the business. What would you suggest?

Answer: I suggest your business may not be as successful as you think it is.

By Mike Jones, posted February 20th, 2014

Most people think of investing as a personal activity that directly impacts their individual future.  However, most of what we are taught is really only applicable to investors en masse, i.e. the market-at-large, and over large periods of time.  Over the next several months I will share 10 points that I believe every investor should know prior to committing funds to any investment program.

Believe it or not, the 2008 market meltdown was not an anomaly. Every industrialized country--yes, every--has experienced a decline of 75 percent or more in its stock market at least once in the last 100 years.

By Byron Moore, posted February 20th, 2014

Question:  I just started a new job and the HR guy says I should put as much as I can into our 401K plan. He says I won't miss the money out of my paycheck, but I've got some debts I need to get paid off. Besides I really don't know anything about investing. I like the idea of getting it automatically done so I don't have to think about it. What do you think?

Answer: We love it when things are convenient.  

The following column was published in The News Star on Saturday, Februrary 15, 2014.

Question: I really want to get financially organized and planned out. How do I do that and where do I start?

Answer: In order for priorities to be profitable, they must first be planned and then be practiced.

The following column was published in The News Star on Saturday, Februrary 8, 2014.

Question: Is it possible for someone to be just out of control when it comes to spending? I’m talking about myself. I am very impulsive and just can’t control myself when it comes to spending.

Answer: Yes, it is possible to be all of those things – out of control, impulsive and just plain messed up when it comes to spending habits.

The following column was published in The News Star on Saturday, Februrary 1, 2014.

Question: When we were growing up my father constantly reminded us to be responsible with money. But I always got the feeling with him it was about much more than being responsible. He seemed to get a lot of validation out of how much money we had, which I think went too far. As a result, I find myself shy about teaching my own kids financial responsibility for fear they’ll get the same message from me. Suggestions?

Answer: Most of the time we communicate our messages very clearly, despite what we say. Your father’s words said one thing, but his life said quite another, didn’t it?

The following column was published in The News Star on Saturday, January 25, 2014.

Question: I decided I need a financial person so I’ve started talking to a few individuals. Frankly I’ve been less than impressed. I just get the feeling they want to sell me their thing, whatever it happens to be. It is always like this?

Answer: Slimy types will always be drawn to any profession offering access to people’s money.

By Byron Moore, posted January 23rd, 2014

Question:  My husband and I want to start a family soon. We both work now, but we would really like for me to be able to stay home when we have a family. All of our friends say it's really hard to do, but we'd really like to. What can we do? 

Answer: Well one thing's for sure - you can't be like your friends.

By Mike Jones, posted January, 23rd, 2014

In my inaugural portfolio review last quarter, I stated that "the bond market would be a tough place to navigate."  That proved to be accurate.  Bonds will continue to be an investment arena that will require diligence and investment attention if interest rates continue to rise. 

The following column was published in The News Star on Saturday, January 18, 2014.

Question: I want to get my teen-aged son involved in my business. I am not trying to force him to come into business with me (although I like that idea). I just know he needs more than he’s ever going to get in school to learn how life really is. Do you think this is a good idea?

Answer: It could be, as long as you both know what’s expected.