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Byron Moore, CFP® and Mike Jones
Financial planning and investment services for a more secure future
Worry less. Live more.
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CLEARER DIRECTION
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ARE FINANCIAL CONCERNS KEEPING YOU UP AT NIGHT?
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WE UNDERSTAND HOW UNSETTLING FINANCIAL INSECURITY IS.
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PROTECTING
We’ll work to guard your assets from real-life risks. We’ll explore insurance
strategies that can mitigate threats to your family’s long-term financial
security.
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SEE IF WE'RE THE RIGHT FINANCIAL ADVISORS FOR YOU.
We’ve found our services align best with four types of clients. If you decide
we’re not a good fit for you, we’ll be glad to refer you to a financial services
firm geared to your particular needs.
RETIRED & LOVING IT!
TYPICALLY THESE CLIENTS ARE:
* 60+
* Financially independent, but concerned about outliving their money
* Looking for a trustworthy financial advisor to “mind the store for them” so
they can enjoy life to the fullest. (They often have $500,000 dollars--or
more--to invest.)
* Eager to preserve wealth, generate income from a life of savings, and
eventually pass on their estates.
HOPING FOR RETIREMENT
Usually in their 50s and early 60s, these folks hope to retire at some point,
but wonder Is that even possible for us? And if so, when?
They generally have a retirement nest egg of at least $250,000, which may come
from a company plan, a large IRA, or other assets they have accumulated over the
years. They seek a lifetime income that is secure and growing.
IN MAJOR LIFE TRANSITION
THESE CLIENTS COME TO US, FOR EXAMPLE, AFTER:
* Selling a business they built (“What should I do with the proceeds?”)
* Changing careers (“How can I rollover my 401(k)?”)
* Losing a spouse (“I need a wise plan for this insurance payout.”)
* Receiving an inheritance (“What’s a smart, long-term investment strategy?”)
UP AND COMERS
Typically in their late 20s to mid-40s, these busy entrepreneurs, professionals,
executives, and managers tend to take a long-term view when it comes to
finances.
They’re family-oriented and conscientious. They often save or invest upwards of
$1,000 a month. Many are also serious about debt reduction strategies and
insurance protection.
1. SCHEDULE A FREE CALL.
No obligation. No sales pitch. Just a brief conversation about your financial
goals.
2. GET A WISE FINANCIAL PLAN.
We’ll help you create the roadmap you need to get you to the life you want.
3. WORRY LESS. LIVE MORE.
While we protect and grow your assets, you can worry less and live more!
Schedule a Free Call
WISDOM ON WEALTH
FINANCIAL WELLNESS
BY BYRON MOORE | JAN 21, 2018
Question: What is financial wellness? I am a human resources professional and
financial wellness is a hot topic among my peers. The idea is that if we provide
financial wellness training for our employees, they can be more stable and
productive for their employers. That sounds good, but I’m not even sure how to
define […]
GOAL SETTING: AIM AT WHAT YOU REQUIRE, DESIRE, AND ASPIRE
BY BYRON MOORE | JAN 14, 2018
Question: My wife and I are setting some goals with respect to our retirement
and we have a question. Should we be pessimistic or optimistic about how things
will go, both now and in retirement? I’ve run different scenarios and things can
really turn out wildly different, depending on what assumptions you use. Answer:
One […]
MISTAKES WHEN WORKING WITH A FINANCIAL ADVISOR
BY BYRON MOORE | JAN 7, 2018
Question: I have been working with a financial planner for a few years and I’m
not satisfied. It isn’t so much about the investment part. That’s been OK. But I
just don’t feel like he knows I am alive. Is it too much to expect to be able to
find someone who will take care […]
ESTATE PLANNING STRATEGIES FOR AVOIDING CONFLICT
BY BYRON MOORE | AUG 19, 2024
Here’s a question I got a while back…“My parents have asked me to oversee the
estate planning process for our family. It could be a little tricky. You see, I
have four siblings. Most of us have kids, but not all. We’ve always gotten along
as a family, but I’m a little worried that tensions […]
THE SURPRISING BENEFITS OF DELAYING YOUR RETIREMENT
BY BYRON MOORE | AUG 12, 2024
Can working a few years longer really make a big financial difference for
retirees? Perhaps more than you might think. A couple recently asked me to help
them evaluate their retirement options. I’ve changed the names and numbers to
protect the innocent (or insolvent). Bob and his wife Vicky are 60. Their house
is paid […]
WHEN SHOULD YOU BLOW THE WHISTLE?
BY BYRON MOORE | AUG 5, 2024
Here’s a provocative question someone once asked me… “If I’m aware of a group of
co-workers who are stealing from our company, should I report this ongoing
theft—or look the other way and just let things play out?” In other words.
“Should I become a whistleblower?” Whistleblowing is when an employee of a
business (or […]
FIGHTING FINANCIAL OBESITY
BY BYRON MOORE | JUL 29, 2024
We have an obesity problem in the United States. I’m not talking here about the
four out of ten adults who have an excessive amount of body fat (thus risking
the shorter life expectancies and increased health problems that a high BMI
produces). I’m talking about the HUGE (pun intended) “financial obesity”
problem in America. […]
CREATIVE WAYS TO SAVE MORE
BY BYRON MOORE | JUL 22, 2024
21 Ways to Find More Money to Save You know you need to save money. You say you
want to save money. But what do you do if you don’t see obvious ways to do so.
Here are 21 creative ways to “find” money for savings. The list is not
exhaustive. Some ideas will result […]
SEVENTY IS THE NEW SIXTY-FIVE
BY BYRON MOORE | JUL 15, 2024
It’s common to hear people say, “Fifty is the new forty” or even “Sixty is the
new forty.” For the record, this isn’t some kind of “new math.” It’s a way of
saying that people are doing certain things later in life—the kinds of things
previously reserved for younger adults. Think of your neighbor who […]
THREE QUESTIONS FOR NERVOUS RETIREES
BY BYRON MOORE | JUL 8, 2024
A few years ago, Bob retired early because he was convinced he had enough money
to fund his golden years. Now he’s not so sure. Each time he withdraws money
from his portfolio, he sees his balance dip and feels his blood pressure rise.
(And he nearly passes out when the market suddenly drops.) Because […]
SHOULD I BUY TERM AND INVEST THE DIFFERENCE? (PART 3)
BY BYRON MOORE | JUL 1, 2024
For the last couple of weeks, we’ve been examining the two primary forms of life
insurance—“term” and “whole life” (or “permanent”). More specifically, we’ve
been evaluating the commonly repeated advice: “Buy term and invest the rest.”
It seems so obvious. When you’re young and healthy, term insurance is shockingly
inexpensive. Doesn’t it make sense to […]
SHOULD I BUY TERM AND INVEST THE DIFFERENCE? (PART 2)
BY BYRON MOORE | JUN 17, 2024
Last week, I began a discussion about the two most common kinds of life
insurance: term insurance and whole life insurance—and which one makes the most
sense for you. Specifically, we examined this commonly-asked question: “What if,
instead of buying a more expensive whole life insurance policy, you opted for a
less expensive term policy […]
SHOULD I BUY TERM AND INVEST THE DIFFERENCE? (PART 1)
BY BYRON MOORE | JUN 3, 2024
In discussions of life insurance, you’ve probably heard someone say, “Buy term
and invest the difference.” Some have suggested this popular mantra originated
with financial guru Suze Orman or perhaps Andrew Tobias (in his 1978 book, The
Only Investment Guide You’ll Ever Need). Others attribute the pithy sales pitch
to insurance magnate A. L. Williams, […]
HOW TO SLEEP BETTER IN RETIREMENT
BY BYRON MOORE | MAY 27, 2024
As people near retirement, most ask some version of this question: “What
financial risks should I watch out for in this next chapter of my life?” The
answer is not that complicated: Many of the same risks you face now—plus a
couple more. Here’s why that’s interesting: If you are about to voluntarily
retire, you […]
CHANGE: SHORT-TERM PAIN FOR LONG-TERM GAIN
BY BYRON MOORE | MAY 16, 2024
After another brutal tax season—digging up records for his CPA, trying to recall
expenditures and hunt down old receipts, etc.—Bob vowed, “Never again!” He went
online and purchased some money management software, thinking, “Next year, I
want to be able to push a button and easily generate all kinds of accurate,
detailed reports.” Last night, […]
MISCONCEPTIONS ABOUT LONG-TERM CARE INSURANCE
BY BYRON MOORE | MAY 6, 2024
I once asked a potential client if he and his wife had long-term care insurance.
“Oh, we don’t need that. Neither of us wants to go into a nursing home.” “I
understand,” I said. “I hope that never becomes necessary. But here’s a reality
most people aren’t aware of: I shared three more realities with […]
WHAT DOES FINANCIAL SUCCESS MEAN TO YOU?
BY BYRON MOORE | APR 29, 2024
Ralph has always been aggressive when it comes to investing. But as he ages,
he’s second-guessing himself more and more. Is my approach the best approach?
Here’s what I’d tell Ralph: It depends on how you define financial success. I
find people define financial success in three broad ways. Often these
definitions are unconscious and […]
SECRETS FOR SUCCESSFUL SAVING
BY BYRON MOORE | APR 22, 2024
When my oldest son walked across the stage at his college graduation, my wife
got all emotional. A month later, when he called home and announced, “Dad, I
got a job!” I was the one who got emotional. Here’s the advice I gave him as we
discussed what to do with his paycheck. (Note: It’s […]
TAKE RESPONSIBILITY FOR YOUR MONEY
BY BYRON MOORE | APR 15, 2024
I hear stories like this all the time: “So, this guy talked me into putting
some money into his investment opportunity. Frankly, he just wore me down. I’m
not sure how that investment’s doing, or even if this guy is on the up and up.
Suggestions?” Two words: Take responsibility. Financial problems begin when you
[…]
WHEN PLANNING BECOMES PROCRASTINATING
BY BYRON MOORE | APR 8, 2024
As I type this sentence, you can purchase a fancy Viking 7 refrigerator/freezer
online for just under $30,000 (that’s $2K off). Or you could drive to your local
home improvement store and get a Whirlpool model on sale for $1,499. Which one’s
“better”? It depends. Suppose you buy the Viking and park it in your […]
WHY IT’S HARD TO CHANGE FINANCIAL HABITS
BY BYRON MOORE | APR 1, 2024
They were an easy-going couple who rarely squabbled—UNTIL he suggested they
create (and live by) a budget. Each time he gently brought up the subject, she
got defensive. He walked away muttering to himself. They remind me of a story I
heard John Maxwell tell. A friend showed him a list of New Year’s resolutions:
[…]
THREE CURES FOR FINANCIAL FOMO
BY BYRON MOORE | MAR 26, 2024
Every day we face a variety of financial decisions: When it comes to making
financial choices, my observation is that some people struggle all the time, and
all people struggle some of the time. What’s behind this reluctance to choose?
After decades as a financial planner, I’m convinced most of our indecision is
caused by […]
THE PROBLEM OF DYING WITHOUT A WILL
BY BYRON MOORE | MAR 18, 2024
NFL quarterback Steve “Air” McNair was rich and famous. About a year after
retiring from football in 2008, the former Tennessee Titan star died of sudden
onset acute lead poisoning (a polite way of saying “his girlfriend shot him”).
That’s when the world found out about McNair’s intestacy (a fancy way of saying
“he died […]
5 WAYS TO PROFIT FROM FAILURE
BY BYRON MOORE | MAR 11, 2024
The next time you fail financially—losing a sale or a job, making a bad
investment—I hope you’ll think of Tom. Tom’s head was crammed with ideas he was
certain would change the world. Yet more times than not, when he tried to bring
those ideas to life, he failed. Tom inspires me because he refused […]
5 REASONS YOU NEED TO ENGAGE IN LONG-TERM FINANCIAL PLANNING
BY BYRON MOORE | MAR 4, 2024
The movie classic Gone With the Wind ends with Scarlett O’Hara…procrastinating.
“I’ll think about that tomorrow,” she declares in her exaggerated Southern
drawl. “After all, tomorrow IS another day.” I can’t tell you how often I meet
people who embrace that “later” mindset when it comes to their financial
futures. They say things like, “I […]
KEEPING YOUR EMOTIONS FROM HURTING YOU FINANCIALLY
BY BYRON MOORE | FEB 26, 2024
How much does confident optimism matter in the marketplace—for job hunters,
salespeople, entrepreneurs, and investors? That’s the subject we began
exploring last week. We said that every person has a built-in emotional
thermometer that measures how they’re feeling from one situation to the next.
Some “run” a higher emotional temperature. That is, they’re usually “up” […]
THE EMOTIONAL ROOTS OF MONEY ISSUES
BY BYRON MOORE | FEB 19, 2024
I’m a financial planner, not a therapist. Nevertheless, I want to talk about
your emotions. (Relax. I’m not trying to be Dr. Phil here. This will all make
sense shortly.) We need to discuss emotions because everyday job situations and
money matters stir up strong feelings inside us. And our reactions in those
moments have […]
WHY PERFORMANCE ISN’T ALWAYS THE BEST MEASURE
BY BYRON MOORE | FEB 12, 2024
Your mutual fund got clobbered in 2023. You’re wondering if your mutual fund
manager is out of sync with the times. How long do you wait before you dump
him/her? Therein lies the problem with looking solely at last year’s
results—they are so…last year. To fix something that’s not working, you have to
analyze not […]
THE FIVE QUALITIES OF A GOOD GOAL
BY BYRON MOORE | FEB 6, 2024
Bob claims he wants a second home on a lake where he can build memories with his
kids. He’s asking, “How do I accomplish my goal?” To be fair, Bob’s “goal” is
really more of a daydream at this point. Nothing wrong with that. Daydreams are
harmless fun. They CAN lead to goals; usually, however, […]
A SANER, SIMPLER LIFE FOR HARRIED BUSINESS OWNERS
BY BYRON MOORE | JAN 31, 2024
Last week we met Ron and Sharon, the couple who started a little side hustle,
watched it boom into a profitable business, and then lamented how this
“blessing” of a company had completely overtaken their lives. I described three
stages many business owners go through. I argued that the essence of contented
simplicity is saying […]
ARE YOU A VICTIM OF YOUR OWN BUSINESS SUCCESS?
BY BYRON MOORE | JAN 23, 2024
Ron and Sharon started a little side hustle…that unexpectedly morphed into a
booming business. Initially, all those happy customers—and that sizable bump in
income—were thrilling. But in time, their growing enterprise became a 24/7
obsession. Says Sharon, “At first, it was fun telling people, ‘We’re business
owners!’ Now it’s more like ‘Ugh! This business owns […]
IS MARRIAGE GOOD FOR YOUR FINANCIAL HEALTH?
BY BYRON MOORE | JAN 18, 2024
There’s an old maxim that “Two can live as cheaply as one.” Is that true? Or is
it what people used to call “an old wives’ tale”? Consider… In 2006, in a State
of Our Unions report from the Institute on Marriage at Rutgers University,
Barbara Dafoe Whitehead declared, “Marriage is a wealth generating
institution.” […]
A WISER PLAN FOR SPENDING IN 2024
BY BYRON MOORE | JAN 11, 2024
It’s the time of year that people approach me for help in shoring up their
finances. One of the questions they inevitably ask is, “What kind of rewards
card do you recommend?” I always tell them the best rewards card I’ve ever seen
is the one with the name of a wise financial planner on […]
THREE NEW YEAR’S RESOLUTIONS YOU SHOULD MAKE
BY BYRON MOORE | JAN 1, 2024
Something about the week between December 25 and January 1 makes us reflective.
It may have to do with the fact that we’re exhausted from too many Christmas
festivities. We just want to pause and regroup. Or it could be a function of the
fact that many of us have the luxury of time off […]
FOUR SURPRISING WAYS TO PAY FOR ALL THAT HOLIDAY SHOPPING
BY BYRON MOORE | DEC 25, 2023
Let me guess…you haven’t even gotten your credit card statement, but you already
know it’s going to be ENORMOUS. And you’d like some ideas for finding some extra
cash to pay the proverbial piper. I have some ideas. Try looking in your banking
app, your desk drawer, at your pay stub, and even in your […]
THE TRUE COST OF THAT NEW HOUSE
BY BYRON MOORE | DEC 18, 2023
You found a house! It’s newer, nicer, bigger. It sits on a hill…at the end of a
quiet street…in a great neighborhood. You haven’t gone so far as to measure for
drapes. But you have imagined yourself relaxing on the back porch, enjoying a
chilled beverage while watching a summer sunset. Given today’s interest rates,
[…]
A BETTER WAY TO THINK ABOUT FUNDING YOUR KIDS’ EDUCATION
BY BYRON MOORE | DEC 4, 2023
Mark Gungor is a popular marriage conference speaker. In one humorous
presentation, he explains the different ways men and women think. Women, Gungor
contends, think in a very global, integrated, complex way. Their thoughts and
feelings constantly interact together. Men, on the other hand, are much simpler.
According to Gungor, we males think in separate […]
THREE WAYS TO ESCAPE THE COMPARISON TRAP
BY BYRON MOORE | NOV 22, 2023
Does this scenario ring a bell? You have an old friend from college, or maybe a
sibling. They’re well off financially—and their luxurious lifestyle—house, cars,
vacations, hobbies, etc.—screams it. Next to them, your income is meager, and
your lifestyle is decidedly middle class. You try not to compare, but it’s tough
not to notice all […]
HAVE YOU MET YOUR FUTURE SELF?
BY BYRON MOORE | NOV 13, 2023
I overhead a young person say, “This whole ‘financial planning thing’ seems
so…far off. Like, it’s for this person I haven’t even become yet. Part of me
thinks, just do it. Start being financially responsible. But another part of me
says, ‘Relax! There’ll be time for that later. You’re not even dating anyone!
You’re only […]
ABOUT THOSE GREAT “REWARDS” CARDS
BY BYRON MOORE | NOV 6, 2023
With inflation lingering like a chronic cold, everyone is looking for ways to
stretch their dollars. Credit card companies know this. That’s why we
constantly get all those offers for “rewards cards.” Use card X and get airline
points…card Y and get “free” hotel stays…card Z and get cash back. You’d be nuts
not to […]
PREPARATION BEATS THE QUEST FOR PERFECTION
BY BYRON MOORE | OCT 30, 2023
You probably have a friend who thinks about money and investments all the time.
(Or, perhaps, YOU are that friend.) You know the type: Always monitoring the
markets. Constantly trying to identify the hottest mutual fund. Relentlessly
keeping one eye on CNBC or Fox Business. For some, this hyper-focus on money is
thrilling, almost addictive. […]
HOW BUSINESS OWNERS CAN AVOID BURNOUT
BY BYRON MOORE | OCT 25, 2023
If you’re the owner of a business that’s SO successful… • You sometimes feel
like the business owns you! • You find it hard to get away • You feel like if
you do take time off, it’ll hurt your business… I have something I want to say
to you. You’re hurting your business by […]
PESSIMISTIC, OPTIMISTIC, OR REALISTIC?
BY BYRON MOORE | OCT 17, 2023
Someone recently said to me, “Your columns and emails haven’t been very upbeat
lately. You turning pessimistic on us?” Me, pessimistic? Never! The word
“pessimism” comes from a Latin root meaning “worst.” Seeing things in the
“worst” possible light doesn’t do anyone any good. The mantra for pessimists is
“Why even try? Nothing ever works […]
THREE THINGS YOUR ADULTS KIDS WANT TO SAY TO YOU
BY BYRON MOORE | OCT 9, 2023
Many adult children tell me: “My parents desperately need to do some estate
planning. However, because we’ve never talked much about financial matters in
our family, I don’t know how to urge them to take action.” I have heard this
sentiment often. So frequently, I want to take this opportunity to speak to
older moms […]
ESCAPING THE CREDIT CARD DEBT TRAP
BY BYRON MOORE | OCT 5, 2023
Let’s talk about credit card debt—and how to get out. If you gulped at that
sentence and thought, “How did you know?” you need to understand this: You’re
not alone. I get a steady stream of people in my office seeking freedom from the
miserable consequences of buying more than they can afford. Most are […]
WHAT WE CAN LEARN FROM JAPAN AND CANADA
BY BYRON MOORE | SEP 25, 2023
In the last few weeks, I’ve been discussing how your financial future could be
impacted by our national debt, our changing demographics, and our leaders’
reluctance to act decisively. You may be thinking, “Is there any way out, short
of national bankruptcy?” One, I don’t believe the United States will ever
declare bankruptcy. Two, I […]
4 WAYS TO RESPOND TO AMERICA’S ECONOMIC SITUATION
BY BYRON MOORE | SEP 18, 2023
Last time we looked at three economic problems that loom large on our nation’s
horizon: debt, demographics, and decisions. Lured by the economic steroid of
borrowed money, we’ve accumulated debt as if we’d never have to re-pay the
proverbial piper (i.e., the bank). Politically, Social Security is known as the
“third rail” of politics. The […]
THREE CHALLENGES FACING AMERICA
BY BYRON MOORE | SEP 13, 2023
I am routinely asked, “Is the U.S. headed for a financial crisis? And, if so,
what can we do to get ready for it?” I get the feeling some questioners expect
me to reply, “Buy 40 acres and some livestock, plant a garden, and stock up on
gold and ammunition.” While that isn’t what I […]
HOW TO PAY FOR COLLEGE
BY BYRON MOORE | SEP 5, 2023
Most parents eventually think, “College…oh yeah…what’s THAT going to cost?”
Smart question to ask—and answer—ASAP. (Have you checked the price of higher
education lately?) According to SoFi, as of the 2022-23 school year, a four-year
degree from Harvard (tuition, books, and all other expenses) now runs $334,152.
If you want to tack on a degree […]
THINKING ABOUT TAXES AND RETIREMENT
BY BYRON MOORE | AUG 28, 2023
Susan’s getting close to retirement. She has money in two mutual funds and in a
traditional IRA. Susan loved the tax break she got annually on her IRA
contributions while she was working. But now she’s realizing she’ll have to pay
taxes on that money when she starts withdrawing it. Consequently, as she plans
for […]
CAN MONEY BUY HAPPINESS?
BY BYRON MOORE | AUG 25, 2023
Can money buy happiness? More than a decade ago, Nobel Prize-winners Daniel
Kahneman and Angus Deaton decided to tackle that question. They studied the
results of a 2008-2009 survey of 450,000 Americans (i.e., the Gallup-Healthways
Well-Being Index). Kahneman and Deaton observed that the more people earned,
the more inclined they were to report being happy—up […]
STUDENT LOANS: SMART INVESTMENT … OR BIG MISTAKE?
BY BYRON MOORE | AUG 14, 2023
As a financial advisor, I’m often asked: “Are student loans a wise investment in
my future…or a bad idea?” Let me offer some facts, an example, an update, and
some advice. Some facts: What does all that borrowing cost? Current interest
rates on federal loans range from 4.99%-7.54%. Private loan rates range from
just under […]
WHEN IS IT TOO LATE TO BUY LONG-TERM CARE INSURANCE?
BY BYRON MOORE | AUG 7, 2023
Someone recently asked, “If I’m already retirement age, is it too late—and too
pricey—to consider long-term care insurance? What I thought was, “It depends.
How lucky do you feel?” What I said was, “I recommend you plan like a pessimist
so you can live like an optimist.” Here’s why I answered that way: When we […]
CAN WE TRUST THE BIG FINANCIAL INSTITUTIONS?
BY BYRON MOORE | AUG 3, 2023
Visit a small town coffeeshop one morning this week. Listen in on the
conversation. It won’t be long before someone starts grousing about financial
institutions. “Can you believe we’re bailing out banks AGAIN? Why are we giving
money to a bunch of billionaire bankers! You ask me…I’m ready to do away with
ALL financial institutions!” […]
DON’T CONFUSE SYMBOLISM WITH SUBSTANCE WHEN TRYING TO SAVE MONEY
BY BYRON MOORE | JUL 25, 2023
As a financial advisor, I hear these complaints all the time: All of these
comments reflect a faulty mindset. They are looking at the “savings problem”
from the wrong end of things. You see, it’s all but impossible to cut back when
you see everything you buy as “essential.” You can waste a lot of […]
WHY THE STOCK MARKET GOES UP
BY BYRON MOORE | JUL 17, 2023
If you had invested $100 in an S&P 500 index fund on January 1, 2020, it would
have been worth… Which raises the question: Is this kind of volatility normal?
Maybe we need to define “normal.” One wag has suggested that the only normal
people are the ones you don’t know very well yet. The […]
THE PERSON BEHIND THE PLAN
BY BYRON MOORE | JUL 11, 2023
I get this sort of question often: “A friend introduced me to a very nice
Christian man who is recommending I put my money into some kind of annuity or
bonds or something like that. I’m not a stock market person. I don’t understand
finances, but I really like this young man. He seems so […]
WHAT TO DO WITH MY MONEY STRESS
BY BYRON MOORE | JUL 3, 2023
When people find out I’m a financial planner, they: (a) ask a lot of fiscal
questions; and (b) make a lot of money confessions. One admission I hear a lot?
“I’m constantly stressed about money!” Maybe you can relate? (Especially in the
current economic climate.) If so, let me give you two reminders and five […]
WHAT TO DO IN (FINANCIALLY) GLOOMY TIMES
BY BYRON MOORE | JUN 26, 2023
This is for the person who feels financially “gloomy.” Keep reading only if: (a)
you’re convinced the economy will be bad for a while; and (b) because of that
belief, you’ve put a halt to investing and all other financial moves. I
understand why you feel cautious. I get wanting to be safe and watch […]
WHAT FOOD TRUCKS AND RETIREMENT INCOME PLAN HAVE IN COMMON
BY BYRON MOORE | JUN 20, 2023
At exit 332, the Millers and Jacksons find themselves in a “culinary crisis.”
They have multiple dining options, but they can’t agree on where to eat. Margie
Miller is feeling adventurous—she’d really like a cauliflower taco and a fish
taco from a food truck with stellar Google Reviews. Her best friend Amanda
thinks the truck […]
WHAT’S YOUR RETIREMENT INCOME ‘PERSONALITY’?
BY BYRON MOORE | JUN 5, 2023
Most people I know have taken at least one of these famous “personality tests”:
It could be that you’re a “high D” or an INTJ or an Enneagram 3. Whatever the
case, these assorted assessments (and all the others like them) are a
fascinating reminder of just how differently we’re wired. And it’s not just […]
WHEN SMALL STUFF BECOMES A BIG DEAL
BY BYRON MOORE | MAY 31, 2023
An exasperated client told me,“My wife keeps saying we need to get our wills
updated. I tell her, “Why? We already have wills, which is more than most folks
can say. We’ve covered all the big stuff! Why fuss over the details?” There’s a
lot to like about the mindset that says, “Don’t sweat the […]
BEFORE YOU INVEST IN THAT SWEET DEAL …
BY BYRON MOORE | MAY 23, 2023
Should you be part of a large investment group and guarantee a large loan for a
business deal? It depends on a number of factors: Remember, when farmer Brown
comes into the barnyard with a hatchet in his hand, not all the chickens are at
risk…just the fat ones. Consider the case of Mark Brunell. […]
THREE SECRETS FOR FINDING THE CAREER YOU WANT
BY BYRON MOORE | MAY 15, 2023
Remember Tee-ball? It was mostly about having fun. You could hit the ball three
whole feet, run the wrong direction, and still get plenty of high fives—and a
shiny trophy at the end of the season. Compare that to professional baseball. In
the big leagues, nobody cares that your dad is one of the coaches, […]
HOW TO ENSURE YOUR FAMILY BUSINESS SURVIVES
BY BYRON MOORE | MAY 9, 2023
Most businesses in the U.S.—in the world, for that matter—are family
businesses. Small, family-owned businesses are the engine of growth and job
creation in this country. Therefore, it’s in everyone’s best interest to see
them thrive. Unfortunately, about 70% not only don’t thrive—they don’t survive
past the first generation! Fully 95% fail to make it […]
THE TRUTH ABOUT DISABILITY INSURANCE
BY BYRON MOORE | MAY 2, 2023
On a regular basis, people come to me and say some version of: “Do I really need
disability insurance? I mean, I have a desk job, and as long as I have my mind,
I can always do my work, right? Besides, wouldn’t my employer’s workers’
compensation insurance take care of my basic needs if […]
THE PROS AND CONS OF INCOME ANNUITIES
BY BYRON MOORE | APR 24, 2023
It sounds too good to be true: You give an insurance company a sum of money, and
they promise to give you a check for as long as you live. This is what’s called
a “single premium immediate annuity” (SPIA). It’s essentially a form of
insurance. To the recipient, it works like an employer pension […]
LONG-TERM CARE INSURANCE: WASTE OR WISE MOVE?
BY BYRON MOORE | APR 10, 2023
Tim Berry wishes he had discussed long-term care insurance with his parents.
When Tim’s dad had open heart surgery, the family was told there was only a 3%
chance of anything going wrong. But in the days following the procedure, Mr.
Berry suffered a stroke. “His mind was wiped out,” Tim told the Asset Protection
[…]
WHAT AN INVESTMENT MANAGER IS (AND ISN’T)
BY BYRON MOORE | APR 6, 2023
How do you know if your investment manager is doing a good job? (Especially when
the markets are so volatile.) Before we answer that question, let’s remember
what an investment manager is and isn’t. A good investment manager is not… 1. An
Economic Alchemist. In ancient times, alchemists were individuals who claimed
the ability to […]
ARE SOCIAL SECURITY AND MEDICARE RUNNING OUT OF MONEY?
BY BYRON MOORE | MAR 27, 2023
No, I’m not a prophet. But since people regularly ask me, “Will Social Security
and Medicare still be around when I retire?” let’s explore that question. One of
my clients lives abroad. I only see him about once a year. At our last visit, I
was shocked at how much he’d trimmed down. “You’re not […]
THE 3 MOST COMMON FINANCIAL ADVISOR MISTAKES
BY BYRON MOORE | MAR 20, 2023
“I’m unhappy with my financial advisor,” a man told me. “Not only have I lost
money, but I don’t feel like he knows I’m alive! Is it too much to expect that
my advisor would take care of me and my money?” This man is surely not alone in
his thinking. Maybe you feel the […]
HOW TO DO ANYTHING YOU CAN DO
BY BYRON MOORE | MAR 14, 2023
A man once said to me, “My friends are always talking about their financial
plans, but the idea that I could create such a thing feels impossible. I’m
terrible with money!” I told him, “I understand that feeling. But the truth is
you could create a smart financial plan. It really is possible.” (That’s a […]
HOW TO AVOID LOST TRUST
BY BYRON MOORE | MAR 7, 2023
A man confessed: “My business did really well last year. Unfortunately, my CPA
just told me what I owe in taxes, and I’m in shock. I don’t have the money! I
reinvested it in my business. If my wife finds out about this it will send her
into a tailspin. Should I just handle it […]
WHAT’S WRONG WITH RIGHTING A WRONG IN YOUR WILL?
BY BYRON MOORE | FEB 27, 2023
An elderly couple told me this story:“Years ago, our son stole some money from
us. We caught him, and he has since turned his life around. He’s married and has
a wonderful family. He’s a good person. But he never did pay back the money he
took. The subject just never comes up. “It wasn’t […]
THREE THINGS A FINANCIAL “COACH” CAN DO FOR YOU
BY BYRON MOORE | FEB 20, 2023
A man told me, “I read lots of books and articles about personal finance, but I
don’t seem to have the self-discipline to put all those good ideas into
practice.”He’s not the only one. I’m convinced this disconnect between “knowing
what to do” and “doing what you know” is at the root of most financial […]
MONEY GRIEF … AND HOW TO LEAVE IT BEHIND
BY BYRON MOORE | FEB 6, 2023
Someone told me they have two primary emotions whenever they think about their
financial situation: “It seems like I’m either frustrated or mad. Is that weird?
Should money always make me so upset?” This admission reminds me of a book
written more than 50 years ago by Elizabeth Kubler-Ross in which she discussed
five distinct […]
A QUESTION ABOUT SAFE MONEY
BY BYRON MOORE | JAN 30, 2023
A client recently asked this question: I’ve got some money I’d like to leave to
my grandkids. I want it to grow, but I’m not comfortable putting it at risk in
the market. Meanwhile, safer investments like CDs seem like they’re barely
keeping up with inflation. Do you have any suggestions? It’s a classic case […]
WHAT BAD FINANCIAL EXPERIENCES DO TO (OR FOR) US
BY BYRON MOORE | JAN 23, 2023
A client told me: “I grew up poor. I was the first in my family to attend
college. Now I have a comfortable income. But because of my background, I tend
to be cautious with my money. Sometimes I wonder if I’m too cautious.” Hearing
that, I thought of an interview with Erin Botsford in […]
ON THE VERGE OF ECONOMIC COLLAPSE?
BY BYRON MOORE | JAN 16, 2023
In my line of work, I hear comments like this frequently: “Despite what some are
saying, I don’t think our economic hard times are over. In fact, some are saying
online that the ‘experts’ are hiding how big our problems really are. Some think
the whole world is on the brink of bankruptcy. If that’s […]
ADULT CHILDREN DEPENDENT ON PARENTS
BY BYRON MOORE | JAN 9, 2023
A subscriber wrote and asked: I’m retired and widowed. My two adult sons still
depend on me to pay some of their bills—even though one of them has a job. (The
other can’t seem to keep steady work.) I’m worried that when I’m gone, they are
going to fight over my money, even though I […]
LIFE PLANNING FOR COLLEGE STUDENTS
BY BYRON MOORE | JAN 2, 2023
A few weeks ago, I shared some remarks I recently made to a classroom of college
students. You can go back and read my column from December 11th, but in summary
I discussed the importance of dying well, living well, being “whole,” and
remembering the truth that “life compounds.” The other four challenges I gave
[…]
A FINANCIALLY PERFECT 2023?
BY BYRON MOORE | DEC 26, 2022
The week after Christmas is a strange hodge-podge of activity, isn’t it? We head
for home, take down holiday decorations, and return gifts. We worry about how
much we overspent…and resolve to “do better” in the coming year. I’m convinced
the week after Christmas is the perfect time to review the year that’s been…and
look […]
LIFE PLANNING FOR COLLEGE STUDENTS
BY BYRON MOORE | DEC 12, 2022
Occasionally I get invited to speak to college students about life, money, and
success. In fact, I’m scheduled to do that tomorrow. Here are the four
reminders/suggestions I plan to share with them. Die well. Soon after you
arrived on campus, you realized, “Not everybody thinks the way I do.” That’s
actually a good thing. […]
PREPARING BEATS REPAIRING
BY BYRON MOORE | DEC 5, 2022
A car breaks down on the side of the highway. The couple can’t remember the last
time they had an oil change. A man lies nervously in pre-op awaiting a
heart-lung transplant. He recalls his first cigarette and wishes he’d never
started smoking. A couple wrangles in divorce court, arguing bitterly over
custody and property. […]
THANKFUL FOR HOPE IN HARD THINGS
BY BYRON MOORE | NOV 28, 2022
I don’t have to remind you we just celebrated Thanksgiving. For many of us, the
day was full of family, feasting, football and Friday…endless advertisements
about Black Friday and the “don’t you dare miss this” sales that go with it.
One of my family’s simple traditions is to go around the table during the
Thanksgiving […]
WELCOME BACK TO “THE OLD NORMAL”
BY BYRON MOORE | NOV 22, 2022
What’s the most overused phrase in the English language? Here’s a vote for “the
new normal.” (“At the end of the day” runs a close second.) Pundits talk
endlessly about “the new normal” in healthcare, politics, foreign relations,
sexuality, the climate, the workplace—you name it. One exception is the
financial world where I’m seeing a […]
LET’S MAKE A DEAL
BY BYRON MOORE | NOV 15, 2022
I grew up watching Let’s Make a Deal with Monty Hall. Eager audience members
would scream wildly, pleading with Monty to pick them to play the game. Once
Hall had chosen someone to play, announcer Jay Stewart would bring down what
looked to me like a TV dinner trey with a small package on it. […]
BUDGETING ISN’T “ROCKET SURGERY”
BY BYRON MOORE | NOV 12, 2022
“I should get on a budget.” Ever say that? It’s really an admission that
budgeting isn’t easy or fun. (If it were, everyone would be doing it, right?)
So, if you’re one of those who doesn’t have a budget, why bother trying to
create and live by one? Because having a firm spending plan—which is […]
WHY LISTENING TO YOUR HEART IS A BAD IDEA
BY BYRON MOORE | OCT 31, 2022
“Honey!” the mother pleads, looking into her adult daughter’s eyes. “I just want
you to be happy. Listen to your heart!” This line (or one like it) shows up in
every sappy Hallmark movie I watch with my wife. I can’t imagine worse advice
to give someone—whether in the area of romance, parenting, career advancement,
[…]
FALLING FOR FINANCIAL FADS?
BY BYRON MOORE | OCT 24, 2022
In my 100% polyester, off-white leisure suit with its bell-bottomed pants and
extra wide lapels, I thought I was hot stuff. My lime green nylon shirt sported
a lion’s head on the back. My ensemble was made complete with platform shoes and
a puka shell necklace. Oh, and I should mention my hair—blown dry and […]
TIME FOR A FISCAL PHYSICAL?
BY BYRON MOORE | OCT 17, 2022
No matter why I go see my doctor, he always does a few things first. Whether I’m
complaining of cold or flu symptoms, or getting an annual physical, he first
listens to my heartbeat, assesses my breathing (with an extra cold stethoscope),
and looks down my throat, up my nose, through my ears, and into […]
WHEN WILL THE MARKETS BOUNCE BACK?
BY BYRON MOORE | OCT 10, 2022
What a year it’s been financially! Here’s a snapshot… A year ago, the stock
market, as measured by the Dow Jones Industrial Average, closed at 34,390. Today
(I’m writing this on September 30, 2022) the Dow stands at 28,725—about 17%
lower! Meanwhile, the S&P 500 has been falling since early January! A year ago,
an […]
TWO “DUDES” WORK OUT AN INVESTMENT PLAN
BY BYRON MOORE | OCT 3, 2022
“You’re saying I should invest NOW?” Jordan almost choked as he thrust the heavy
weights over his head. He and his buddy Patrick regularly solved all the
world’s problems during their noon workouts. On this day, the conversation had
turned to personal finance. “Dude, the stock market is HORRIBLE!” Jordan said
emphatically as he set […]
WHY PEOPLE DON’T SAVE
BY BYRON MOORE | SEP 26, 2022
“I have some other things I’d like to do,” he said with a slight hesitation in
his voice. “So, I don’t think I can commit to that right now.” He was responding
to my encouragement that he establish a regular saving plan. How unfortunate.
Because except for those rare souls who win the lottery or […]
THE LONG HARD ROAD TO INSTANT SUCCESS
BY BYRON MOORE | SEP 19, 2022
One of my clients emailed me recently, saying “People keep sending me this
video. What am I missing?” The video featured an attractive young man. He was
glib, funny, a bit ironic, and full of confidence. The gist of his message was
“Borrow money at 4% and invest it at 8%, and you’ll make a […]
GOOD (AND BAD) NEWS FOR MID-LIFERS
BY BYRON MOORE | SEP 12, 2022
Bill scowled at his reflection in the mirror. At least his grayish beard hid his
double chin. “How did I get so old so soon?” he asked himself. Bill’s not old;
he’s only 45. But he is at “halftime” in his professional life. Twenty years
down, roughly twenty to go. In our twenties and thirties, […]
THE BENEFITS OF BEING OLDER
BY BYRON MOORE | SEP 5, 2022
It’s football season again. For the next 4-5 months, every Friday through
Sunday—okay, almost every day that ends in “y”— big, strong young men (and Tom
Brady) will suit up and take to the gridiron. What’s fascinating is that these
gifted athletes will listen to and follow the instructions of coaches twice as
old and […]
ON THE ROAD TRIP TO RETIREMENT
BY BYRON MOORE | AUG 29, 2022
After two-plus years of pandemic protocols, 2022 was the summer we finally got
back to one of our great American traditions: the road trip. Road trips can be
epic or awful, unforgettable or regrettable. (We could swap stories, I’m sure.)
The difference usually comes down to planning. The same is true with the journey
of […]
WHEN INFORMATION BECOMES “TOO MUCH”
BY BYRON MOORE | AUG 22, 2022
“What Hath God Wrought.” That was the first telegraphed message, sent on May 24,
1844. It traveled 50 whole miles—from the United States’ Capitol all the way to
Baltimore. Before Samuel Morse’s landmark invention, news and information moved
at the speed of a horse, a train, or a ship. With the introduction of the
telegraph, […]
THE FOUR FORGOTTEN RETIREMENT CHALLENGES
BY BYRON MOORE | AUG 15, 2022
One year into retirement Al is…unhappy. His issue isn’t money. Al’s always been
a diligent saver. At age 45, he hired a financial planner. They drafted a wise
plan and stuck to it for the next twenty years. Fact is, when Al walked away
from his career last year, he was in great financial shape. […]
YOUR “WEALTH CULTURE” (& WHY IT MATTERS)
BY BYRON MOORE | AUG 5, 2022
Did you know your family has a “wealth culture”? (By “culture,” I mean the
collection of common beliefs, values, assumptions, customs, and behaviors that
mark a group of people.) Every group of people displays a certain culture.
Cities do. So do schools and churches, civic organizations and sports teams.
Businesses also have distinct cultures. (I’m […]
PAYING FOR RETIREMENT – NOW VS. LATER
BY BYRON MOORE | AUG 4, 2022
“You can pay me now, or you can pay me later.” That was the tagline from a
famous Fram Oil Filter ad campaign back in the 1970’s. It featured a grizzled
auto mechanic holding up an inexpensive oil filter, then pointing over his
shoulder at a car engine in need of an expensive rebuild. You […]
GET A STRONGER RETIREMENT PLAN
BY BYRON MOORE | JUL 25, 2022
Who knew we could glean financial insights from the World’s Strongest Man
competition? If you saw it recently, you know the winner was a 28-year-old Scot
named Tom Stoltman—all 6’8” and 384 pounds of him. This year’s contest showed
that if you ever have an 18-ton bus blocking your driveway, Tom’s your guy. Just
give […]
SMART PLANS VS. PLANS THAT “SMART”
BY BYRON MOORE | JUL 18, 2022
In the 1960s, going to the dentist meant a little white spittoon by the dental
chair and a whole lot of pain. Our dentist at the time—I’ll call him Dr.
Hurt—thought only sissies needed anesthesia for a “little thing” like drilling
and filling a cavity. Translation? Going to see Dr. Hurt was stressful! One day
[…]
HOW THE ECONOMY IS LIKE JUNIOR HIGH
BY BYRON MOORE | JUL 11, 2022
The last time the stock market had such a terrible January-through-June
performance, I was in junior high. The year was 1970. For me, that was a time of
pimples, polyester clothes, bad hair, trying to impress girls, and Mrs.
Lawrence’s English class. All not-so-fun experiences—a lot like investing is for
most people right now. For […]
OUR MOST OVERLOOKED FREEDOM?
BY BYRON MOORE | JUL 4, 2022
Each July 4 we Americans throw a national party. We celebrate our unparalleled
freedoms which are the envy of the world. Our more “famous” liberties—freedom of
religion, freedom of speech, freedom of the press, etc.—are spelled out in the
Constitution’s Bill of Rights. But perhaps the hidden genius of that document is
that it laid […]
WHEN EVERYTHING SEEMS BLEAK
BY BYRON MOORE | JUN 27, 2022
In early October, 1871, a fire turned Chicago’s business district into a
smoldering ash heap. Today, visitors to the Windy City marvel at a skyline of
beautiful architecture. In late December, 2005, quarterback Drew Brees of the
San Diego Chargers suffered a severe injury to his throwing shoulder. Many
experts believed his NFL career was […]
WHAT PAIN CAN DO FOR US
BY BYRON MOORE | JUN 20, 2022
I had hip surgery last week. Man, did that ever hurt! Beforehand, I researched
the procedure, the surgeon, the health facility, and the outcomes of others
who’d had the same surgery. What I didn’t focus on is the grueling rehab
patients have to do after surgery. I didn’t think to ask, “How much pain will I
[…]
FIVE FINANCIAL POTHOLES (AND HOW TO FIX THEM)
BY BYRON MOORE | JUN 13, 2022
After two years of masking up and shutting down, we stir-crazy Americans are
traveling again! Beaches are packed, Disney is bustling, and national parks and
campgrounds are turning away visitors. Our renewed wanderlust means a
reintroduction to a regular feature of road trips: potholes! We’ve all had the
unpleasant experience of driving along and hitting […]
WHAT TO DO WHEN THE MARKETS ARE IN TURMOIL
BY BYRON MOORE | JUN 6, 2022
“We’ve never seen anything like this,” my friend whispered in an ominous tone.
“Like what?” I asked. “This economy,” he continued. “You know, inflation. Debt.
The stock market.” “You’re worried about the stock market?” I asked. “Aren’t
you?” he responded. “Do you remember when COVID-19 first appeared?” I asked. “In
late February 2020, the stock […]
THE PROBLEM WITH FINANCIAL “EXTRAPOLATION”
BY BYRON MOORE | MAY 30, 2022
Back in the 1970s, an OPEC oil embargo sparked a period of hyperinflation in
America. To clamp down on rising prices, Fed Chairman Paul Volcker raised
interest rates. By 1981, you were lucky if you could find a home mortgage for
less than 16%. Business loans were going for 25%. On the bright side, if […]
TIMING IS EVERYTHING (BUT PREDICTABLE)
BY BYRON MOORE | MAY 23, 2022
“DOUBLE YOUR NEST EGG” the headline screamed. “Now’s the time to jump into cheap
stocks, funds and real estate.” Bad timing for a magazine called “Smart Money.”
This headline was on the cover of the October 2008 issue—immediately before an
epic financial crisis and market meltdown. In early October 2008, the Dow Jones
Industrial Average […]
THE PROBLEM WITH SWIMMING NAKED
BY BYRON MOORE | MAY 16, 2022
Legendary investor Warren Buffett once said, “Only when the tide goes out do you
discover who’s been swimming naked.” This was the billionaire’s iconic way of
saying that risky financial behaviors inevitably get exposed when economic
conditions change dramatically. Unless you have been snoozing the last 6-8
months, you probably know the economy is changing. […]
FINANCES ARE MORE THAN NUMBERS
BY BYRON MOORE | MAY 9, 2022
He had his eye on some land. “Daddy always said land was a smart investment. I
think so too. They’re not making any more of that,” he said with a smile. “I
could borrow the money,” he continued. “But I look at those amortization tables,
and it kills me to see how much interest […]
WHEN THE MARKETS ARE MAKING YOU NERVOUS
BY BYRON MOORE | MAY 2, 2022
“I bet you’re getting a lot of calls.” I could tell by the background noise he
was driving with his windows down. I suppose calling to needle me seemed a good
way to pass the time. I didn’t take the bait. “Calls about what?” “This dang
market,” he said. “Inflation is out of control. Fuel […]
A LEGACY OF GENEROSITY
BY BYRON MOORE | APR 25, 2022
When I was in my 20s my father sold his business and retired. His commitment was
to give a portion of the proceeds to charity. But he also wanted that money to
have a long-term impact…on worthy local causes and also on his family. So,
following some good advice, he and my mother created a […]
THE PROBLEM WITH MOST FINANCIAL PLANS
BY BYRON MOORE | APR 20, 2022
A lot of people use the term “financial plan” to refer to “a savings and
investment plan.” I always wince. I’ve yet to meet someone who says, “My life
goal is to save and invest money.” What people tell me is, “I want to save and
invest money so that one day I can …” […]
IN GOLF (AND FINANCE), THE SWING’S THE THING
BY BYRON MOORE | APR 11, 2022
This weekend, golf fans everywhere are watching The Masters. The world’s best
players—legends like Tiger Woods and Dustin Johnson, as well as younger pros
like my man, hometown hero Sam Burns—are showcasing their flawless golf swings.
(They make it look so easy, don’t they?) In between all the jaw-dropping shots,
golf fans will also “ooh” […]
ARE YOU BETTING AGAINST THE ODDS?
BY BYRON MOORE | APR 4, 2022
Each year the college basketball season concludes with a tournament known as
“March Madness.” Part of the appeal is that there’s often a team from a small
school that gets on a roll and beats several heavily favored opponents. Fans
love these David vs. Goliath storylines. This year, in the men’s bracket, the
unlikely underdog […]
WHEN INVESTING FEELS LIKE GAMBLING
BY BYRON MOORE | MAR 28, 2022
“The stock market is like gambling,” someone told me earlier this week. I
understand such feelings. Thanks to inflation, the Russian invasion of Ukraine,
and other factors, the markets are more volatile than normal. The S&P 500 is a
prime example. It fell 12% earlier this year. It has since recovered about half
that year-to-date […]
5 COMMON QUESTIONS ABOUT INFLATION
BY BYRON MOORE | MAR 21, 2022
If you typed the word “inflation” into your favorite search engine, you’d get
over 380 million results. Whew. That’s a lot of reading. Let me save you time
and confusion. Here are short answers to the five most common questions people
ask about inflation. 1. What is inflation? In simple terms, inflation is when
our […]
THE BENEFITS OF SLOWING DOWN
BY BYRON MOORE | MAR 14, 2022
Can you run as fast today as you could 20 years ago? Probably not. We get
slower the older we get. And it isn’t just our 40-yard dash time that declines.
Our willingness to accept change and tolerate risk both decrease with age.
There are always exceptions. But most folks are far more safety-conscious at […]
WHY WOULD ANYONE WANT TO GET OUT OF DEBT?
BY BYRON MOORE | MAR 7, 2022
Why would anyone want to get out of debt? Think about it. You borrow money. You
get to use that money now. Then you get to pay it back slowly, over time. Who
wouldn’t want that deal? You might expect a financial planner to say getting out
of debt is what everyone should do, ASAP. […]
WHAT STORY ARE YOU TELLING WITH YOUR LIFE?
BY BYRON MOORE | FEB 28, 2022
If Hollywood made your life into a movie, would people want to watch it? Author
Donald Miller got me thinking about stories, characters, and plots with his
terrific new book Hero on a Mission. Drawing inspiration from great story
tellers of the past, Miller argues that all great stories have four primary
characters: the victim, […]
WHY IT’S BAD TO “FIT IN” FINANCIALLY
BY BYRON MOORE | FEB 21, 2022
One of the common questions I get from new clients is, “How am I doing
financially . . . compared to everyone else in my situation?” Something in us
loves to compare—and do whatever “everyone else is doing.” When it comes to
finances, this is rarely wise: Right now, some 2 million homeowners are three
[…]
THE THINGS WE DO FOR LOVE
BY BYRON MOORE | FEB 14, 2022
This week we celebrate Valentine’s Day. Merchants will sell millions of flowers
and cards and tons (literally) of candy. And restaurants will serve up all
manner of candlelight dinners to sweethearts who are clamoring to demonstrate
their passion. But if you’ve been married for longer than about a month, you
know that love needs deeper […]
BUCKETS OF MONEY FOR RETIREMENT!
BY BYRON MOORE | FEB 7, 2022
I’m pretty sure National Lampoon’s 1985 movie “European Vacation” was based on
my family’s 1972 trip to the same destination. Both were comedies. Back then,
European borders and currencies were as numerous and confusing as a Byzantine
map. To this day, I have no idea where we were when I tried to mail that
postcard. […]
CHECKLIST FOR 60-SOMETHINGS
BY BYRON MOORE | JAN 17, 2022
Don’t you “love” it when you forget to buy something at the grocery store? So
often I get nine of the ten things I was supposed to buy, but there’s always
that one item I don’t remember until I get home. “Seriously? You forgot the
tomatoes? How am I supposed to make spaghetti sauce without […]
A TALE OF TWO DIETS
BY BYRON MOORE | JAN 10, 2022
Over the last ten years I’ve lost about 100 pounds. Okay, it’s actually the same
ten pounds, gained and lost ten times. Blame it on the holidays, I guess. Sweet
people sending me sweets. My wife’s deadly—the good kind of deadly—pecan pie.
Hey, I’m not complaining. I love all that delicious stuff. But New Year’s […]
DON’T REGRET THOSE RESOLUTIONS … FOCUS ON HABITS MORE THAN GOALS
BY BYRON MOORE | DEC 27, 2021
I have no idea how many dieting books, fitness club memberships or
getting-organized supplies are sold during the weeks just before and just after
New Year’s Day…but I suspect it’s a big number. Something about a new year
suggests a clean slate – a fresh opportunity to do it again, only this time get
it […]
CHRISTMAS THOUGHTS ON GIVING, MONEY, AND TIME
BY BYRON MOORE | DEC 20, 2021
At Christmas we focus on giving. The next day, we turn our attention to time.
We review the year that’s ending and preview the year just ahead. So, how about
some year-end (and year-beginning) reminders about giving and time? 1. You can
give time to your money. What do I mean? We have this amazing […]
WHAT AIRPLANES CAN TEACH US ABOUT MONEY
BY BYRON MOORE | DEC 6, 2021
In my financial planning practice, I meet with a lot of “Type A” entrepreneurs.
Their number one question? “Couldn’t I be doing better with my money?” I always
have to smile. These driven individuals are used to optimizing everything they
touch—or at least trying to. If they have three rental properties today, they
want to […]
FOUR COMPONENTS OF A GOOD SUCCESSION PLAN
BY BYRON MOORE | NOV 29, 2021
Though he was past traditional retirement age, he was living every
businessperson’s dream. A healthy company. A strong management team. The freedom
to come and go. “Maybe it’s time,” he told me. “Time to pass on my business to
my adult children—even though they’re not actually in the business. I’m thinking
that if they’d just […]
ON THE SIMPLE ACT OF GIVING THANKS
BY BYRON MOORE | NOV 22, 2021
Each Thanksgiving, I’m reminded of all the benefits that come from giving
thanks. In fact, Howard Hendricks used to recommend “Thanksgiving Therapy.” He
suggested writing the phrase “I’m thankful for…” on a pad of paper, then listing
all the specific reasons you’re grateful. It’s a powerful exercise. Try it and
you’ll discover—as I have—that Dr. […]
WHEN THE FINISH LINE GETS MOVED
BY BYRON MOORE | NOV 15, 2021
It was a 10k race, but at the 9k mark, I was gasping for air. My lungs were on
fire. My legs were screaming at me to quit. Except that I had only one more
hill to go. If I could climb it—honestly, it looked like Everest—I’d be close to
the final turn where the […]
6 ESSENTIALS FOR A LIFE OF WEALTH
BY BYRON MOORE | NOV 8, 2021
In my last column we looked at the difference between affluence and wealth. My
simple definition of affluence is “your income relative to everyone else’s.” If
you make $36,000, you qualify as an average Joe – you’re right in the middle of
the income numbers for the rest of the country. However, someone making $36,000
[…]
WHO IS REALLY RICH – THE AFFLUENT OR THE WEALTHY?
BY BYRON MOORE | NOV 1, 2021
“We’re gonna be rich!” Don bellowed as he beat his fist against the steering
wheel. He drove a white Lincoln Continental with burgundy leather interior. It
was longer than most living rooms and at that moment was lumbering down I-55
from St. Louis to Jackson, MS. The windows were down and his heart was full.
[…]
WHAT IF YOU OUTLIVE YOUR HEIR?
BY BYRON MOORE | OCT 25, 2021
You want to leave your estate to certain people. But suppose they die first.
What then? Ideally, you’ve spelled out your wishes—and contingency plans for
scenarios like this—in a written will. If not—and assuming you never get around
to writing a will—Louisiana (assuming you live here) will use its “laws of
intestacy” to essentially create […]
ABOUT THAT FINANCIALLY IRRESPONSIBLE PERSON IN YOUR LIFE
BY BYRON MOORE | OCT 18, 2021
We’ve all got them. People in our lives who live in a chronic state of financial
mess. When it comes to money, they habitually make poor choices. There’s the
friend who overspends. Despite his big salary, he’s got even bigger debt.
There’s the parent who under-saves. The sibling who comes to you annually for
“just […]
ABOUT THAT MONEY YOU’VE BEEN PAYING SOCIAL SECURITY
BY BYRON MOORE | OCT 11, 2021
“I wish I had all the money I’ve paid into Social Security. I’d be rich.” Over
the years, I’ve had one or two (hundred) folks say something like that to me.
Recently I got so curious, I decided to run the numbers. On myself. (By the way,
did you know you can go to the […]
GOLDILOCKS AND THE THREE RETIREMENTS
BY BYRON MOORE | OCT 4, 2021
What exactly do you want out of retirement? (I ask because when it comes to
this topic most folks focus mostly on tools—pensions, 401(k) plans, Social
Security, etc. Only a few think about goals.) Many answer by saying they want
be able to sleep till 10 or not have to dress up every day. I […]
THE MANY EXPENSES OF LONG-TERM CARE
BY BYRON MOORE | SEP 20, 2021
Long-term care is expensive. And sometimes it costs a lot of money too. There
may not be a great deal of cash changing hands as a result of someone’s
gradually increasing need for long-term care, but that doesn’t mean a steep
price is not paid. And often, that price is paid by the healthy spouse. […]
WHAT IF MONEY CAN BUY HAPPINESS?
BY BYRON MOORE | SEP 13, 2021
“Money can’t buy happiness…but it can buy cows. And cows make milk, and milk
makes ice cream, and ice cream makes you happy.” This is the sort of wisdom you
pick up in a Colorado bookshop while on vacation. Maybe it was the thinner air,
but after I chuckled, I thought, “Wait a minute…that’s really […]
THAT’S WHAT FRIENDS ARE FOR
BY BYRON MOORE | SEP 6, 2021
Ask a friend. That’s what we typically do when we’re trying to make decisions in
life. Need a new doctor? Ask a friend. Better accountant? Ask a friend. Romantic
vacation spot? Ask a friend. New school for the kids? Ask a friend. Why do we do
this? Do we honestly think our assorted friends are […]
IS YOUR DEBT DESTRUCTIVE OR CONSTRUCTIVE?
BY BYRON MOORE | AUG 30, 2021
Comedian Bob Hope once quipped, “A bank is a place that will lend you money if
you can prove you don’t need it.” We chuckle, but it’s true. Lending
institutions couldn’t stay in business long if they loaned money to folks who
couldn’t repay them (with interest). So banks are careful. They consider the
risks […]
THE SURPRISING TRUTH ABOUT BUDGETING
BY BYRON MOORE | AUG 23, 2021
Clients often ask, “Do I need to budget?” When I reply, “Maybe, maybe not,”
they look at me like I’m a weight loss guru who just offered them a cheese
Danish. “Wait—you’re a financial planner! Aren’t you supposed to tell me to
budget?” My experience is that only about 10% of my clients budget. And […]
HOW TO SAVE MONEY
BY BYRON MOORE | AUG 16, 2021
All the financial whizzes like to say, “You need to be saving money!” Maybe
you’d like to, but you don’t know how. (If so, how’s this for a hook: You will
by the time you finish this column!) First things first: Saving is a habit. Like
all habits, it requires motivation and momentum. If you’ve […]
3 WAYS TO AVOID WRONG BUSINESS PRIORITIES
BY BYRON MOORE | AUG 9, 2021
In the Disney film Glory Road, a star basketball player at Texas Western
University is on the verge of flunking out. In desperation, the coach summons
the young man’s mother. She marches onto campus and proceeds to turns her son’s
world upside down. She even attends class with him and “volunteers” him to
recite all […]
WHEN KEEPING SECRETS IS A PROBLEM
BY BYRON MOORE | AUG 2, 2021
Why are so many of us bad at keeping the secrets we should keep, but good at
keeping those we shouldn’t? Like the financial secrets you’ve been keeping from
your spouse. Gulp. Oh, yeah. Those. I’m convinced this happens because some
financial realities are painful to face. And yet the pain of dealing with those
[…]
TOM CRUISE AND YOUR FINANCIAL FUTURE
BY BYRON MOORE | JUL 26, 2021
When the iconic Mission Impossible music starts blaring, we all know what’s
coming. A fuse has just been lit! The clock is ticking! It’s up to Ethan Hunt
(played perfectly by Tom Cruise) and his talented team of spies to save the day
again (they’ve done it six times so far). They’ve got two hours, […]
THE PROBLEM WITH FINANCIAL PLANS BASED ON SAD STORIES
BY BYRON MOORE | JUL 19, 2021
“Don’t get a haircut!” That was my father’s reaction years ago when I told him I
was about to have a professional photograph taken. I was baffled. I had no more
hair then than I do now. Why this odd advice? Dad proceeded to tell me about his
own experience. He’d once had his picture […]
SOME SURPRISING THOUGHTS ON DEBT
BY BYRON MOORE | JUL 12, 2021
Some see “debt” as the foulest of all four-letter words. “All it does is reveal
a lack of discipline,” they insist. “All it does is cause major stress.” I agree
it’s a bad idea to use debt to buy items that decrease in value over time. And,
yes, indiscriminate borrowing often stems from a failure […]
MORE THAN FIREWORKS AND HOT DOGS
BY BYRON MOORE | JUL 4, 2021
On this day 245 years ago, the Second Continental Congress signed a declaration
that the 13 American colonies were no longer under British rule. That feisty
letter—which our forefathers sent “across the pond” to King George—effectively
said, “As of today, we are free to build and become a different kind of
nation.” We call the […]
STOP ASSUMING AND START (ESTATE) PLANNING
BY BYRON MOORE | JUN 28, 2021
Here’s a shocker: Forbes estimates that nearly two out of three Americans do not
have a will. No clear instructions for survivors. No written record of “Here’s
how I want my property distributed.” Even the “rich and famous” are part of this
will-less majority. The artist known as Prince died without a will. So did […]
HOW REAL FATHERS MAKE LIFE RICHER
BY BYRON MOORE | JUN 20, 2021
On Father’s Day we honor the dads who make the world a better, richer place. I
should probably define terms. Some guys are “just-a-father.” That is, they made
a strategic biological connection with a specific obstetric result. That’s it.
Then they disappeared. The legacy of these “just-a-fathers” is grim. Did you
know children in father […]
THE ROLE CHARACTER PLAYS IN FINANCIAL SUCCESS
BY BYRON MOORE | JUN 14, 2021
In a celebrity culture like ours, the “rich and famous” get most of the
attention. The freak athlete. The shrewd mogul. The talented entertainer. The
mesmerizing author. The successful investor. The flamboyant reality star.
Through some combination of genetic gifting, hard work, and dumb luck, these few
lucky souls have managed to hit it big. […]
WHAT TO DO ABOUT FINANCIAL FEAR
BY BYRON MOORE | JUN 7, 2021
Here’s a fun, indoor thing to do on the next rainy day. Type the question “What
do people fear most?” into your preferred search engine and look at the results.
We humans are scared of all sorts of things: failure, change, heights, snakes,
the dark, giving speeches, being alone, being confined in small spaces, being
[…]
FINANCIAL SUCCESS REQUIRES THIS DISH
BY BYRON MOORE | MAY 31, 2021
In my column last week I introduced the idea that the wealthy know a “secret”
the rest of us don’t. It’s the idea that success—financial or otherwise—doesn’t
come because of a single grand action. Rather, it’s the result of a thousand
small steps and smart habits. Perhaps you remember the nineties business book
Built to […]
THE LITTLE SECRET TO BIG FINANCIAL SUCCESS
BY BYRON MOORE | MAY 24, 2021
Most folks are convinced the wealthy know some big financial “Secret” the rest
of us don’t. Like, they went to “the right” school and met “the right” people.
Or they heard about Tesla before anyone else did, or got in on the ground floor
of Amazon. Or somehow, they cracked the code on those free […]
LIVING WITHIN YOUR MEANS IS AN ILLUSION
BY BYRON MOORE | MAY 17, 2021
Do you live within your means? If you answered yes, that’s a problem. Here’s
why. Caleb and Jessica bought a new house last year and spent more than they
planned. The expenses that accompanied their new home were more than expected.
“We are still living within our means,” they explained to me, “but we can’t […]
THE PROBLEM WITH THOSE “AVERAGE RETURNS”
BY BYRON MOORE | MAY 10, 2021
An old joke says that if you keep one foot on a hot stove and your other foot in
an ice bucket, on average you should be comfortable. That line always makes me
smile. It underscores a reality in the world of markets and investing—averages
can be both mathematically accurate and experientially awful. Case in […]
DO THESE 3 THINGS WHEN THE MARKET IS SOARING
BY BYRON MOORE | MAY 3, 2021
The stock market is at an all-time high. Which is great, right? Your 401(k) has
never been higher, and you’ve never been richer! But wait. “What goes up must
come down,” right? If the market is soaring now, is a dip—or a crash—just
ahead? It’s a dilemma: Should we be content or concerned? Should we […]
3 WAYS TO IMPROVE YOUR (FINANCIAL) SELF-IMAGE
BY BYRON MOORE | APR 26, 2021
When it comes to money, are you: (a) a financial wiz; (b) your own worst enemy;
or (c) somewhere in between? In my 30+ years as a financial advisor, I’ve
observed that by adulthood most people have developed a “financial self-image.”
Maybe you’re one of those few souls who see yourself as good with money, […]
IS YOUR FINANCIAL ADVISOR TRUSTWORTHY?
BY BYRON MOORE | APR 19, 2021
Bernie Madoff died this week. Madoff was the architect behind the biggest Wall
Street fraud in history. The former chairman of the Nasdaq stock market index,
Madoff positioned himself as a self-made financial genius. He claimed to know
how to avoid market fluctuations and deliver steady, handsome returns. Famous
clients like movie director Steven Spielberg, […]
5 WAYS YOU CAN BE SAFER FINANCIALLY
BY BYRON MOORE | APR 12, 2021
When my wife and I are on the interstate, nothing makes her more nervous than me
passing an 18-wheeler. (In her defense, I’m not the one who would first feel the
effects of a tractor-trailer swerving violently in our direction.) If she senses
even the slightest movement our way, she ends up in my lap! […]
WILL YOUR RETIREMENT INCOME BE ENOUGH?
BY BYRON MOORE | APR 5, 2021
How much income will you need in retirement? Here’s an eight-step plan for
figuring that out. 1. Start with your current income. As an example, let’s
assume you make $100,000 annually. 2. Assume some inflation. No one knows what
inflation rates will be between now and your retirement. What we do know is that
postage […]
3 FACTS ABOUT EARLY RETIREMENT
BY BYRON MOORE | MAR 29, 2021
“Think I might be able to retire EARLY?” When I’m helping clients prepare
retirement income plans, I often get this question. It rarely comes right away.
In fact, many are initially unsure if retirement will be possible at all. But
once we’ve gathered the relevant data, estimated how much income they’ll need in
retirement, and […]
THE 6 QUESTIONS TO ASK WHEN SAVING FOR RETIREMENT
BY BYRON MOORE | MAR 22, 2021
I get questions all the time about saving for retirement. Clients ask: How much
should I be setting aside each month? How big of a ‘nest egg’ do you think I’ll
need in order to retire comfortably? Will Social Security run out of money
before I’m 65? Should I even count on that? What mutual […]
MAKING AND KEEPING PROMISES
BY BYRON MOORE | MAR 15, 2021
Life is made up of promises, big and small. From marriages, to mortgages, to
meals delivered on time, we depend on others—as they depend on us—to keep the
promises that have been made. Take the young man who pledges to be faithful to
his young bride “till death do us part.” That’s a promise he […]
FEELING FINANCIALLY OUT-OF-CONTROL?
BY BYRON MOORE | MAR 8, 2021
“When this new bunch in Washington raises everyone’s taxes, what’s going to
happen to the market then?” I get questions like this a few times each week. And
my honest answer is “I have no idea.” Will our taxes be raised? Possibly. But
since I’m not a prophet, I can’t say for sure—government tax policy […]
HOW HARD IS YOUR MONEY WORKING FOR YOU?
BY BYRON MOORE | MAR 1, 2021
Recently I spoke with someone who runs the computer network for a large company.
When most employees started working from home due to COVID-19, this man was able
to see what each worker was doing all day every day. “I could save my company a
million dollars,” he said. “I can tell who’s working and […]
WHAT AN ARCTIC BLAST CAN TEACH US
BY BYRON MOORE | FEB 22, 2021
Didn’t see that one coming, did you? We’ve been so focused on a deadly pandemic
and unceasing political drama that we missed the onset of…winter. You remember
winter, don’t you? Normally in Louisiana, it’s that brief period between the
Sugar Bowl and the Super Bowl. At least, that’s the way I remember it. Until
this […]
LOVE ASSURANCE
BY BYRON MOORE | FEB 15, 2021
On Valentine’s Day, what could possibly be more romantic than flowers,
chocolate…and life insurance? On second thought, let’s reserve February 14 for
sweet notes, roses, and intimate dinners. Do the life insurance part on February
13 (or save it till the 15th). But definitely do it. Here’s why… Life insurance
is love assurance. It demonstrates […]
MAKING MILLIONS ON WALL STREET?
BY BYRON MOORE | FEB 8, 2021
When you hear about someone making a fortune in the stock market practically
overnight, don’t you sometimes think, “Why can’t that be me?” We saw it again in
recent days. In brief, a group of “wolf of Wall Street” types were betting
against GameStop, the video game retailer. They were hoping to make millions
when […]
IS YOUR MOST VALUABLE ASSET PROTECTED?
BY BYRON MOORE | FEB 1, 2021
In my first meeting with a new client, we typically do what I call a “data
dump.” They bring all their financial information and dump it (sometimes
literally) on my desk. Right now, I’m thinking of a particular young couple.
They owned a business and had two young children at home. They were busy folks!
[…]
STOP WAITING FOR PERFECT
BY BYRON MOORE | JAN 25, 2021
The man told me he wanted to begin investing. He realized if he never invested
his money, it could never grow. And if his money never grew, he’d never get to
retire…at least not to the lifestyle to which he was accustomed. Ideally, the
man said, he wanted the long-term growth available only in the […]
BACKWARD OR FORWARD – HOW WILL YOU LIVE 2021?
BY BYRON MOORE | JAN 18, 2021
Teaching your teenagers to drive is not for the squeamish. (And all the parents
said, “Amen!”) Years ago, I had a friend whose 15 year-old got his learner’s
permit. Like every teen, he wanted to drive his parents everywhere. However,
each time the boy got behind the wheel he would obsess over what was in […]
OPTIMISM – THE RATIONAL OUTLOOK FOR 2021
BY BYRON MOORE | JAN 11, 2021
It takes a lot to be an optimist these days. Just consider a handful of
headlines from two national newspapers, one left leaning, the other right. These
all appeared on the same day this week. Pandemic Reshapes US Employment Across
Industries Pandemic Leads Schools to Halt Ph.D. Admissions Airlines Aren’t
Making It Easy to Use […]
GET YOUR PLANNING RIGHT IN 2021
BY BYRON MOORE | DEC 28, 2020
The 1980s brought us cable TV, personal computers, parachute pants and mullet
haircuts (powerful proof that not every “innovation” equals progress). The
decade also saw the rise of the 401(k) plan. Before the heyday of mullet
haircuts, the phrase “retirement plan” referred to a pension plan. A pension was
a social contract between workers and […]
CRISIS CHRISTMAS
BY BYRON MOORE | DEC 21, 2020
Do you get the feeling that it’s the coronavirus, not the Grinch, that’s trying
to steal Christmas? I’m sure I don’t’ need to recite all of this year’s national
and international economic disappointments that have come as a result of this
pandemic. For the unemployed oil field worker, the exhausted nurse or teacher,
the farmer […]
ARE YOU ASKING THE RIGHT QUESTIONS?
BY BYRON MOORE | DEC 14, 2020
Sometimes when I ask people, “What are your financial goals?” they say things
like: “Other than having enough one day to retire on, I’m not sure I have any
clear financial goals.” After a pause they add, “That’s not a very good answer,
is it?” That’s usually when I say, “Maybe if I asked better […]
PLAN YOUR JOURNEY
BY BYRON MOORE | DEC 7, 2020
If you’re over 50, you may remember AAA TripTiks booklets. From AAA’s website:
“In the days before Google Maps…or even the internet…a AAA agent would draw the
route with a highlighter on a series of numbered maps, going through the route
with the driver before they started. The end result, a guided route through a
[…]
CONSUMER OR CONTRIBUTOR – WHICH DO YOU WANT TO BE?
BY BYRON MOORE | DEC 1, 2020
The holiday season is advertiser season. We see a parade of TV commercials and
online ads showing us peaceful, thankful and content people. But they’re not
real, are they? They’re actors, visions created for us by clever marketers,
promising us the good life if only we’ll buy their product. Perhaps you’re not
like the people […]
THANKSGIVING LESSONS IN 2020
BY BYRON MOORE | NOV 23, 2020
What a year. Coronavirus. According to Johns Hopkins, COVID-19 has now infected
some 12 million Americans and claimed more than 250,000 lives. Race issues.
Around the same time the coronavirus began spreading across the U.S., the death
of George Floyd in Milwaukee triggered nationwide protests (some violent) over
issues of race and policing practices. Hurricanes. […]
RETIRE TO WHAT?
BY BYRON MOORE | NOV 16, 2020
“Do you want to retire one day?” That’s a question I ask new clients. The
answers I get are fairly predictable. Older workers or people with jobs they
hate say, “You bet! How about yesterday?!” People who enjoy their work say
things like, “I might want to slow down one day, but I can’t imagine […]
MAINTENANCE ALWAYS COSTS LESS
BY BYRON MOORE | NOV 9, 2020
Why would anyone pay for an oil change? Call me a weenie (and many do), but I
don’t do my own oil changes. I know real men do, but I just don’t. I used to go
to one of those places that made you wait in their lobby, where you read dated
issues of People […]
IS IT URGENT OR IMPORTANT?
BY BYRON MOORE | NOV 2, 2020
“I have an opportunity…” I can’t tell you how any of my client conversations
start with that statement. “I have an opportunity to…buy into a business…buy
some land…buy a house I’ve had my eye on for a long time.” Always these
opportunities come with a timeline. “I need to give them an answer…by
tomorrow…by the […]
LOWEST PRICE OR HIGHEST VALUE?
BY BYRON MOORE | OCT 26, 2020
$37 million. That’s how much the Los Angeles Lakers paid LeBron James to lead
them to their 17th NBA championship. Along the way he earned the championship
MVP title as the Lakers celebrated their title in front of…well, nobody. Weird
year. Was it worth it for the Lakers? Having not won an NBA championship since
[…]
THE TRUTH ABOUT FINANCIAL CONTROL
BY BYRON MOORE | OCT 19, 2020
How much of your life is in your control? Probably a lot less than you think.
But how you respond to this uncomfortable reality can have a huge impact on your
financial health. Think for a moment about all you actually control. Did you,
for example, determine the parents you have or where you would […]
HOW SECURE IS YOUR SOCIAL SECURITY?
BY BYRON MOORE | OCT 12, 2020
Some people collect baseball trading cards. Other people collect antique books.
I collect Social Security statements. Mine. Yes, I am that boring. The oldest
one I’ve got dates back to 2003, so I’ve got almost 20 years’ worth of Social
Security (SSA) statements. But they contain my work records all the way back to
the […]
THE DANGER OF FINANCIAL FATIGUE
BY BYRON MOORE | OCT 4, 2020
The smell of fresh cut grass in August still makes me want to run and hide. I
get flashbacks of red-faced football coaches, whistles blowing, screaming
encouraging slogans at me like, “C’mon, son…run! Harder! Faster!” During summer
camp, these thoughtful men even had trash cans placed strategically about the
field so we players could pause, […]
GET RIGHT ABOUT WHAT’S WRONG
BY BYRON MOORE | SEP 27, 2020
Chris thought he had a stomachache. So, like most young men, he considered his
options and did the only sensible thing. He ate more. Well, that didn’t help,
so he bought the jumbo bottle of Pepto-Bismol. By the time the weekend was over,
he was doubled over in pain and begging his wife to drive […]
ARE YOU READY FOR THE NEXT STORM?
BY BYRON MOORE | SEP 21, 2020
In one sense, Laura and Sally didn’t sneak up on anyone. Meteorologists helped
us track both hurricanes from their births deep in the warm Atlantic waters to
their tempestuous tromps through coastal cities and towns. Laura devastated
Lake Charles as she worked her way up the western side of south Louisiana. As I
write this, […]
THE JOB YOU SHOULD BE WORKING IN IS …
BY BYRON MOORE | SEP 13, 2020
Where should you work? If money is tight and job opportunities are in short
supply, your answer might be “anywhere that will pay me!” While that’s not a
terrible answer, it is also not an answer that’s likely to satisfy you
long-term. Consider three mindsets that can help you frame your thinking about
your career […]
LABOR DAY – WORK IS A “GET TO”
BY BYRON MOORE | SEP 6, 2020
I know an organization that frames the less-than-desirable duties of their
employees as “get tos.” The idea is to change the mindset from negative to
positive. Instead of seeing a duty as something you “have to do,” you change
your viewpoint so that you see it as an opportunity for service, or something
you “get […]
“I HATE DEBT!” … REALLY?
BY BYRON MOORE | AUG 30, 2020
“I hate debt!” That’s an oft heard declaration that erupts early in some of my
meetings with new or prospective clients. Most of the time it happens as a large
sheet of paper is pulled out of a folder, or a spreadsheet is opened on a
computer. Whether computerized or penned, it’s a list of […]
IF THE SHOE FITS
BY BYRON MOORE | AUG 23, 2020
If your feet hurt when you walk, get smaller feet, bigger shoes or go barefoot.
That’s both the predicament and the choice left to many retirees (and those
anticipating retirement) today. Their feet hurt. A.K.A., their expenses are
larger than their income. If you’ve ever spent much time spending more money
than you bring in, […]
WAITING ON THE ELECTION
BY BYRON MOORE | AUG 16, 2020
“I think I’m just going to wait until after the election.” I am hearing this
response nearly every week from someone else afraid to make a decision with a
financial impact. In my career I have lived through the elections of Ronald
Reagan, George H.W. Bush, Bill Clinton, George W. Bush, Barack Obama and Donald
[…]
PAY ATTENTION TO YOUR COSTS … ALL OF THEM
BY BYRON MOORE | AUG 9, 2020
“One one-thousandth of a dollar.” I said. “That’s not much is it?” I handed his
phone back to him. He’d handed it to me to show me how low the expense ratio of
his indexed mutual fund was. He pressed his lips together, holding back a smile.
“I guess it’s my engineering training coming out,” […]
RETIRE DEBT IN RETIREMENT
BY BYRON MOORE | AUG 2, 2020
“Should I refinance my house and get a 30-year mortgage? Is that crazy?” She was
nearly 65 and had a six-figure mortgage attached to her house. She was single
and had a good income as a nurse. But as she looked ahead, she could see trouble
coming. “I make nearly $5,000 per month now, and […]
PERSEVERANCE BEATS PERFECTION WHEN REHABBING HABITS
BY BYRON MOORE | JUL 26, 2020
“When you’re going through hell, keep going.” Winston Churchill’s advice still
applies. If you find yourself having “blown it” once again financially, now is
definitely not the time to stop. Now is the time to get back up, dust yourself
off and redouble your efforts. Chrystal and Tony are typical of people I’ve
talked to […]
DOOMSDAY ALWAYS SELLS
BY BYRON MOORE | JUL 19, 2020
“The signs are everywhere…” It was an ominous headline to an email that caught
the attention of a client. “Is this something I should be concerned about?”
Concern, worry and a buying decision to subscribe to an expensive newsletter was
exactly what the email’s author was hoping to elicit. The email’s author had
“seen several […]
GIVING AS GAIN
BY BYRON MOORE | JUL 12, 2020
“It is more blessed to give than to receive.” Someone important said that long
ago, but I think every generation has the opportunity to discover that truth in
new and fresh ways. But let’s start with the obvious…the math of giving doesn’t
seem to work – at first anyway. If I’ve got $100 and I […]
A UNION UNDER TENSION
BY BYRON MOORE | JUL 5, 2020
Out of many, one. That’s what the “E Pluribus Unum” phrase stamped on those
coins in your pocket means. It is the aspiration of a hopeful nation, that out
of a disparate population from all over the world, a union might be formed and
maintained. For many, our “union” seems tenuous and anything but unified. […]
WHERE IS OPPORTUNITY?
BY BYRON MOORE | JUN 28, 2020
“Where can I find a job in an economy like this?” He was young and thought of
himself as more ambitious than most. He wasn’t going to be happy climbing up
some corporate ladder. “Where’s the best place for a go-getter like me to get
the best opportunity?” I tried to break it to him […]
BLACK SWANS: THE ENEMY OF ALL PERFECT PLANS
BY BYRON MOORE | JUN 21, 2020
“Didn’t see that coming!” A worldwide disease pandemic. An explosion of race
related unrest across our nation. Oil prices going negative. A global financial
crisis. A real estate bubble. The Dotcom bubble. Pundits will blame someone for
not seeing “it” coming. Consultants will charge a fee for helping you see it
coming next time. And […]
WORKERS WORRY ABOUT MONEY TODAY, NOT RETIREMENT TOMORROW
BY BYRON MOORE | JUN 14, 2020
What causes the average Joe stress at work? Work, right? Or maybe something
about work – a bad boss, poor working conditions, toxic co-workers or maybe just
Facebook being blocked on their work computer (“dang IT guys!”). Each year
international accounting firm PricewaterhouseCoopers (PwC) sponsors an Employee
Financial Wellness Survey. Their 2020 survey asked employees, […]
FINANCIAL FREEDOM
BY BYRON MOORE | JUN 7, 2020
What is financial freedom? If you’re thinking “being wealthy” or “becoming
financially independent,” I disagree with you. I know many wealthy, financially
independent people who are anything but financially free. For them, money and
wealth are a ball and chain, a never-sleeping slave master that makes them do
its bidding. Financial freedom is not a […]
FAILURE … THE PATH TO SUCCESS
BY BYRON MOORE | MAY 31, 2020
As the class of 2020 Zooms across the stage to collect their virtual diplomas,
may I offer some advice as you set off to find your pathway to success? Fail.
Often. I didn’t say “be a failure.” Nor did I ask you to enjoy the experience of
failing. But if you want to find the […]
ARE YOU PREPARED TO LIVE TO 100?
BY BYRON MOORE | MAY 24, 2020
What would happen if you lived to be 100? When Wayne was contemplating his
retirement from public service, he didn’t want to retire from life. He was
looking for an older man who had lived the last portion of his life in an
exemplary way. Wayne was 61 at the time. Who looks for a […]
COACHES FOR THE WIN
BY BYRON MOORE | MAY 17, 2020
“Moore, if your brains was dynamite, you couldn’t make a humming bird sneeze!”
They don’t make ‘em like Coach Shaw anymore. He “drafted” me for his high
school basketball team off my ninth-grade playground. The only thing I had going
for me was being over six feet tall and attending a small high school blessed
[…]
WHICH JOB DO YOU WANT?
BY BYRON MOORE | MAY 10, 2020
The interviews are over. You’ve managed to make it through the gauntlet and
emerge on the other side, ready to claim that new job. All that remains is for
them to make the offer and you to accept. “We are pleased to be able to make you
a job offer to become part of the […]
I’LL RETIRE WITH A LITTLE HELP FROM MY FRIENDS
BY BYRON MOORE | MAY 3, 2020
About 10,000 people retire each day in America. That means you and I probably
know someone who had planned to retire just as the Coronavirus-caused financial
disaster struck. Based on my experience, most of those 10,000 had already made
peace with the fact they would have to do without a few things in order to […]
SPRING CLEANING … WHERE DO I START?
BY BYRON MOORE | APR 26, 2020
How is it that when you have the most unstructured time on your hands, you get
the least done? Now, if you’re a doctor or nurse tending to Coronavirus
patients, a banker pushing out PPP loans or a grocer working overtime to restock
the toilet paper shelves, this doesn’t apply to you. But waaaay more […]
WHAT IS WEALTH?
BY BYRON MOORE | APR 19, 2020
What is wealth? Where does it come from? And is it easily destroyed? These are
not academic questions unrelated to our daily if Coronavirus-interrupted lives.
In fact, your answer to these questions will drive how you respond during and
after the worldwide pandemic. Is wealth the sum of all the money in all the
banks […]
FREEDOM FROM FEAR
BY BYRON MOORE | APR 12, 2020
Freedom. It’s one of those things we as Americans prize very, very highly. In
fact, Americans prize freedom above almost all else. In the past, we have proven
that we will even die to ensure freedom for those we love. But we find ourselves
living in a time when that precious gift – freedom – […]
WHO C.A.R.E.S.? YOU SHOULD
BY BYRON MOORE | APR 5, 2020
The money is about to start flowing. And not a moment too soon. The COVID-19
virus has delivered a shock to the world economy the likes of which has not been
seen in a long, long time. Businesses are shut down and individuals are staying
at home. A national economy that was humming on Valentine’s […]
MOMMA CASH
BY BYRON MOORE | MAR 29, 2020
Sometimes, you just want your Momma. The safety of that soft touch, the secure
hug, the serene voice, and the sentimental smell (even if it is that of meatloaf
and Pine Sol). It’s Momma. And it’s safe. That’s what financial markets wanted
these last few weeks. Momma. And for financial markets, Momma is spelled
C-A-S-H. […]
CORONAVIRUS – GOOD REASON TO DELAY PLANNING?
BY BYRON MOORE | MAR 29, 2020
Question: All the uncertainty surrounding the Coronavirus 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…which just goes to show you worry is […]
LESSONS FROM A CRISIS
BY BYRON MOORE | MAR 22, 2020
It isn’t the first time and it certainly won’t be the last. But we find
ourselves in the midst of a worldwide health crisis – the Coronavirus
(COVID-19). Among the many ripple effects of the disease, and the world’s
desperate attempts to contain it has been a significant impact on financial
markets. Markets don’t like […]
A WAY TO GET BETTER
BY BYRON MOORE | MAR 15, 2020
“Do you want to get well?” It’s a question that seems to have an obvious answer,
especially if you’re sick. “Of course, I want to get well! What kind of question
is that?” Next comes the follow-up question, and here’s where you separate the
curious from the serious. “Are you willing to do what it […]
LETTER FROM JACK
BY BYRON MOORE | MAR 8, 2020
“How wrong can you be!” It was a message scribbled on a blue post-it note, stuck
to a worn and folded newspaper clipping. The clipping was of a column I’d
written for the local paper about 15 months prior to the note being written. I
came across this old bit of correspondence just this week […]
WHEN MARKETS GET SICK
BY BYRON MOORE | MAR 1, 2020
You’ve heard about that disease sweeping the world, right? It can cause fever,
cough, body aches, fatigue; sometimes vomiting and diarrhea. Most cases are
mild, but others are quite severe, even fatal in rare cases. Around the world,
nearly 1 billion people come down with this malady…9 to 45 million in the US
alone. Between 12,000 […]
TOO MUCH MONEY IS TOO MUCH TROUBLE
BY BYRON MOORE | FEB 23, 2020
Too much money is too much trouble You can have too much money. I know you don’t
believe me. I hear you out there saying, “Try me! Just try me!” Of course, “too
much money” is not the malady facing most Americans. Credit card debt is at an
all-time high (over $1 trillion) and student […]
RETIREMENT TRIPLE PLAY
BY BYRON MOORE | FEB 16, 2020
There’s a reason football players come in all sizes. And, yes, as a matter of
fact, this has a lot to do with your money…especially in retirement. Whether
you are a football fanatic experiencing the post-Super Bowl blues or someone who
could care less about the sport, nearly everyone realizes football players come
in large, […]
TALK IS CHEAP – SHOW ME THE LOVE
BY BYRON MOORE | FEB 9, 2020
What is love? And what does that have to do with money? A really smart guy once
said, “Where your treasure is, there will your heart be also.” Well, if the
treasure is money and the heart is love, then love and money go hand in hand.
From one perspective, you could say that where […]
WHEN IS IT RISKY TO AVOID RISK?
BY BYRON MOORE | FEB 2, 2020
I know the speech. “Mr. Moore, this is all the money I have in the world.” She
is clutching an investment account statement pulled from a tattered envelope.
She has told me about the years of hard work she’s put in, saving as much as she
could while putting three sons through college. Now she’s […]
SYMBOLS ARE NO SURROGATE FOR SUBSTANCE
BY BYRON MOORE | JAN 26, 2020
I wonder how many patients gorge on fried chicken the day before their first
cardiology appointment. I’ve had many people come to see me for financial
planning and begin the conversation by “admitting” they just bought a new car.
Or a new house. Or maybe a new boat. It didn’t take long to figure out […]
MONEY IS A MIRROR
BY BYRON MOORE | JAN 19, 2020
Have you seen the latest fitness craze? It’s a mirror. Actually, they call it
“The Mirror.” This $1500 piece of technology combines video and live feedback
technology to provide the experience of a one-on-one trainer in your home…only
she’s really just in your mirror. It’s actually kind of spooky. There you are,
standing in front […]
DEVELOPING YOUR 2020 VISION
BY BYRON MOORE | DEC 29, 2019
Don’t look now but the 21st century is 20% done. By this time last century,
we’d fought a world war, built the Panama Canal, begun the Federal Reserve,
started the income tax, given woman the right to vote and witnessed the birth of
the first communist state. It was a busy 20 years. Now the […]
NO SUBSTITUTE FOR BEING THERE IN PERSON
BY BYRON MOORE | DEC 22, 2019
Sometimes there’s just no substitute for being there in person. Can you imagine
sending an employee, who reports to you at work, to your daughter’s school
Christmas play? “Your father would have been here, but he had a super important
conference call he had to take…” Delegation is a necessary skill and focusing on
the […]
I DON’T KNOW WHAT I DON’T KNOW
BY BYRON MOORE | DEC 15, 2019
“I don’t know what I don’t know…” Craig had called me out of the blue. I’d known
him when he was a college student, then a young single man. “Bachelor till the
rapture,” he’d say about himself. Until he met Kathy. She was a single mom with
a gentle but determined spirit and wiggly three-year-old. […]
CAREER ADVICE FROM COACH O
BY BYRON MOORE | DEC 8, 2019
By now, you have the advantage of knowing the outcome of yesterday’s SEC
football championship contest between LSU and Georgia. No matter the outcome,
LSU surprised everyone this year with its high-powered offense, led by
quarterback Joe Burrow. And leading the team onto the field Saturday was their
barrel chested, gravel voiced, Louisiana loving head […]
WHAT DO I DO WITH MY RETIREMENT PLAN WHEN I RETIRE? PART 2
BY BYRON MOORE | DEC 1, 2019
Last week we began exploring the need to “begin with the end in mind” when it
comes to retirement planning. If you’re just stuffing dollars into a 401(k), you
have a retirement account, but don’t have a retirement plan. A retirement plan
is not only a tactic of funding a future retirement, but also a […]
WHAT DO I DO WITH MY RETIREMENT PLAN WHEN I RETIRE? PART 1
BY BYRON MOORE | NOV 24, 2019
Begin with the end in mind. That sounds obvious enough, doesn’t it? When I
finish writing this column, I’m planning to drive for four hours. But not just
anywhere. I want to arrive in Baton Rouge at the conclusion of my drive. I’m not
going to just get in my car and drive. I intend […]
STAY AT HOME
BY BYRON MOORE | NOV 17, 2019
All she ever wanted to do was stay at home. When she and Craig first met and
married, Anna chose a pretty traditional route for a woman of her generation.
She stayed at home to focus her time and energies on raising their three boys.
Though her boys each married women that chose to work […]
THEY WERE THE PRE-INTERNET SOCIAL NETWORKS
BY BYRON MOORE | NOV 10, 2019
If you are old enough to remember when yearbooks were more popular than
Facebook, you were an adult in the pre-Internet era. That seems like a long,
long time ago. Today we often refer to Facebook and other such websites as
“social media” or “social networks.” The idea is that the Internet facilitates
the interaction […]
DID YOU FORGET SOMETHING?
BY BYRON MOORE | NOV 3, 2019
We got to an LSU football game once, only to discover we’d left the game tickets
on the kitchen counter (stop laughing…you know you’ve nearly done the same).
That wasn’t as bad as the time we got to Disney World, four Magic Kingdom manic
kids in tow, only to discover we’d done the same things […]
VITAL SIGNS
BY BYRON MOORE | OCT 27, 2019
What’s the first thing they do when you go to a doctor’s office? OK, well yes,
they check to make sure you have insurance. But what else? OK, you got me. They
make you fill out a clipboard full of information that you fill out every single
time you go to the doctor’s office. My […]
SOCIAL SECURITY: ATTITUDES ALTER WITH AGE
BY BYRON MOORE | OCT 20, 2019
Wouldn’t it be nice to work at one of those places that offered big-time
retirement perks? I mean the kind of employer that promises to send you millions
of dollars over the course of your retirement. Guaranteed. You might be closer
than you think. When it comes to retirement, attitudes naturally change as we
get […]
DIY IN THE KITCHEN AND IN THE RETIREMENT ACCOUNT
BY BYRON MOORE | OCT 13, 2019
“They’ll let you buy fresh dough and do it yourself,” Harrison offered. “You
just get it in a big ball of dough, take it home and make your own. It’s
cheaper!” I started thinking about flour all over the kitchen counter (and
floor), chopping up dozens of ingredients, a hot oven and my spotty history […]
INHERITANCE: IS IT A BURDEN, BARRIER, OR BENEFIT?
BY BYRON MOORE | OCT 6, 2019
The only thing she had left of him was his estate. If she lost that, she would
lose him. It became obvious in our first conversation that she wasn’t here to
talk to me about stocks, bonds, houses, buildings, businesses, or timberland.
She had inherited all of that from her father. From a purely financial […]
YOUR DISASTER SCENARIO
BY BYRON MOORE | SEP 29, 2019
“If I have my mind, I can work.” “Great,” I answered. “Let’s test that theory
out.” I opened my drawer and pulled out a hammer, laying it gently on the desk
between us. “Please place your hand palm down on the desk,” I said. “Your
off-hand is fine. And please don’t move it…the hammer can […]
WHAT’S GOT YOU STUCK?
BY BYRON MOORE | SEP 22, 2019
What’s got you stuck? Consultant Bobb Beihl tells of a time he was behind the
scenes of an Arizona circus and started chatting with a man who trains animals
for Hollywood movies. “How is it that you can stake down a ten-ton elephant with
the same size stake that you use for this little fellow?” […]
LAUNCHING TYLER
BY BYRON MOORE | SEP 15, 2019
When Tyler left, Melinda cried. She cried because he was a kind, thoughtful
young man who reminded her of her own sons, whom she had also seen leave the
nest. In the month or two he’d lived with us, he’d unconsciously worked his way
into her heart. I also got a little misty-eyed…without being asked […]
ONE-TIME EXPENSES ARE RARELY ONE TIME
BY BYRON MOORE | SEP 8, 2019
It would be a one-time expense. He was not asking my permission. He was
notifying me of a change I was now being tasked to make in his retirement plan.
He drove that change to our meeting. I had not previously thought of him as a
tricked-out Escalade kind of guy, but there he was […]
FROM VISION TO PROVISION TO VICTORY
BY BYRON MOORE | SEP 1, 2019
“That’s never going to happen.” She held a binder in her hands with papers,
charts, and projections outlining the process of how she and her husband might
gradually replace the income they each earned through working with income that
comes from their accumulated assets. Otherwise known as a retirement plan. “Now
hold on a minute,” […]
IS RETIREMENT BAD FOR YOU?
BY BYRON MOORE | AUG 25, 2019
What if you found out retirement was bad for you? Would you reconsider it? Or at
least the way it is traditionally done? Richard W. Johnson thinks so. He’s the
director of retirement policy at the Urban Institute. His survey of studies done
on the health of retirees suggests a number of downsides for retirees, […]
WATER, WILLS, AND WHAT TO SAY
BY BYRON MOORE | AUG 18, 2019
Early in my career, I learned that water causes wills. “Hey, Julie and I are
going to Europe to celebrate her 40th birthday and we both decided we wanted to
get wills done before we go…” It’s a phone call I get once or twice a year,
either from a client or a friend. Something about […]
HIDDEN IN PLAIN SIGHT
BY BYRON MOORE | AUG 11, 2019
“Why hasn’t anyone ever told me about this?” she asked. She was at the same time
relieved, chagrined, and just a tiny bit angry. Like many facing retirement,
she had started later than she now wished she had and was facing the prospect of
a significant lifestyle change. Sure, she could keep spending money in […]
OF SCAMS, GOD, AND GOOD ‘OL BOYS
BY BYRON MOORE | AUG 4, 2019
When a preacher tells you that your treasure should be in heaven, you might want
to listen. But if one of them starts telling you that at least some of your
treasure might be found in recently discovered Confederate government bonds,
foreign exchange currency schemes, timber contracts, off-shore certificates of
deposit or high yield hospital […]
FINANCIAL WELLNESS
BY BYRON MOORE | JAN 21, 2018
Question: What is financial wellness? I am a human resources professional and
financial wellness is a hot topic among my peers. The idea is that if we provide
financial wellness training for our employees, they can be more stable and
productive for their employers. That sounds good, but I’m not even sure how to
define […]
GOAL SETTING: AIM AT WHAT YOU REQUIRE, DESIRE, AND ASPIRE
BY BYRON MOORE | JAN 14, 2018
Question: My wife and I are setting some goals with respect to our retirement
and we have a question. Should we be pessimistic or optimistic about how things
will go, both now and in retirement? I’ve run different scenarios and things can
really turn out wildly different, depending on what assumptions you use. Answer:
One […]
MISTAKES WHEN WORKING WITH A FINANCIAL ADVISOR
BY BYRON MOORE | JAN 7, 2018
Question: I have been working with a financial planner for a few years and I’m
not satisfied. It isn’t so much about the investment part. That’s been OK. But I
just don’t feel like he knows I am alive. Is it too much to expect to be able to
find someone who will take care […]
ESTATE PLANNING STRATEGIES FOR AVOIDING CONFLICT
BY BYRON MOORE | AUG 19, 2024
Here’s a question I got a while back…“My parents have asked me to oversee the
estate planning process for our family. It could be a little tricky. You see, I
have four siblings. Most of us have kids, but not all. We’ve always gotten along
as a family, but I’m a little worried that tensions […]
THE SURPRISING BENEFITS OF DELAYING YOUR RETIREMENT
BY BYRON MOORE | AUG 12, 2024
Can working a few years longer really make a big financial difference for
retirees? Perhaps more than you might think. A couple recently asked me to help
them evaluate their retirement options. I’ve changed the names and numbers to
protect the innocent (or insolvent). Bob and his wife Vicky are 60. Their house
is paid […]
WHEN SHOULD YOU BLOW THE WHISTLE?
BY BYRON MOORE | AUG 5, 2024
Here’s a provocative question someone once asked me… “If I’m aware of a group of
co-workers who are stealing from our company, should I report this ongoing
theft—or look the other way and just let things play out?” In other words.
“Should I become a whistleblower?” Whistleblowing is when an employee of a
business (or […]
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