Shreveport Times columns

Originally published in The News Star and The Shreveport Times on Sunday, April 26, 2015.

Question: My CPA shocked me this year with the news that I owed the IRS more than half the income I earned. He said it had to do with my investments. I switched brokers last year, but I don’t understand why that mattered. They tax you for that?

Answer: You may a victim of your own success.

Originally published in The News Star and The Shreveport Times on Sunday, April 19, 2015.

Question: I have worked in the corporate world all my career. I’ve paid the maximum possible into Social Security most of that time. My wife, on the other hand, has been a teacher in a private school for her career. We both got our Social Security estimates online the other day and I could not believe how close they were. My income was multiples of hers, but she’s getting nearly half of what I’m getting. How does that work?

Answer: The deck is not exactly stacked in your favor.

Originally published in The News Star and The Shreveport Times on Sunday, April 12, 2015.

Question: My adult child has only been working a few years and ran up a credit card bill at a favorite department store. The interest rate is outrageous. How can I help him transfer the balance to another card with lower interest? 

Answer: Why would you want to do that? 

Originally published in The News Star and The Shreveport Times on Sunday, April 5, 2015.

Question: I’m coming up on retirement in the few years. You may think I’m terrible, but I don’t want to leave my kids a bunch of money. We raised them and they’re all on their own now and I just don’t feel any need to sacrifice our retirement just to leave them a pile of money. So how does that change things when it comes to retirement planning? 

Answer: First, I don’t think you’re terrible. I think you’re scared. 

Originally published in The News Star and The Shreveport Times on Sunday, March 29, 2015.

Question: I just graduated from college and I’m going to work for a ministry for at least two years, maybe more. Eventually I think I’ll be in the secular work force. What advice do you have for someone my age and situation?

Answer: Your life, financially or professionally, will not start in two years, or whenever your ministry commitment ends. It starts now.

Originally published in The News Star and The Shreveport Times on Sunday, March 22, 2015.

Question: I have been through a lot of tragedy in my life. My problem is I am frozen with fear, so much so that I have not spent money I have on basic necessities.  I am just afraid of making mistakes spending. Would a life plan help in my situation? 

Answer: You may need both a plan and a person. 

Originally published in The News Star and The Shreveport Times on Sunday, March 15, 2015.

Question: I pulled out my investment stuff for last year and compared to the stock market, I didn’t do very well. My brother-in-law told me the stock market was up 15% last year, but my stuff didn’t do nearly that well. What’s up with that? Should I change something?

Answer: Well, there’s stuff, and then there’s stuff.

Originally published in The News Star and The Shreveport Times on Sunday, March 8, 2015.

Question: When you do a financial plan, do you fund your retirement first or get out of debt? Is trying to save on taxes part of it? And my husband says we spend too much money on insurance, but I worry we don’t have enough. We’re all over the map! Where should we start?

Answer: If you want a plan for your money, get a plan for your life.  

Originally published in The News Star and The Shreveport Times on Sunday, March 1, 2015.

Question: When you do a financial plan, do you fund your retirement first or get out of debt? Is trying to save on taxes part of it? And my husband says we spend too much money on insurance, but I worry we don’t have enough. We’re all over the map! Where should we start?

Answer: Start with the most important thing – to you.