Money Matters With Wes Moss

Just because you’re getting older doesn’t mean that you should stop your efforts for longevity. After all, planning for a happy retirement includes following core pursuits and socializing with family and friends. Aging is inevitable, but for those retiring it can be a concern. Planning your retirement with a life expectancy of 70 years old is different from planning for a life expectancy of 90 years old. In today’s episode, Wes interviews Dr. Andrew Steele, a London-based bio-gerontologist, writer, and campaigner as he explains some of the research behind his new book Ageless: The New Science of Getting  Older Without Getting Old. They discuss risk factors of diseases, such as cancer and dementia, the impact of excessive daily exercise, and why sleep is essential to your health. Learn more about your ad choices. Visit megaphone.fm/adchoices

his year has brought us into a new economic environment. We are shifting from a closed economy to businesses reopening and gaining momentum as we recover from the past year. But with that momentum has come a bevy of fear and concern. As a result, investors should not be worried or paranoid, but they should be prepared. In today’s podcast, Wes shares tips on how investors can combat what he calls the three-headed monster of higher inflation, rising interest rates, and tax increases.  Throughout this episode, Wes analyzes the historical correlation between tax rates, capital gains, stocks and addresses why some categories of stocks fare better when inflation or interest rates rise. Of course, historical events in markets may not repeat exactly the same, but many events show similarities. As investors, if we stick to a few rules of thumb, we may be able to weather any market conditions that come our way. Learn more about your ad choices. Visit megaphone.fm/adchoices

Studies have found that as many as 40% of retirees have difficulty adjusting, and even those who claim to enjoy retirement may experience some uneasiness as they adapt to a life lacking in structure and direction. The path to a happy retirement may be paved with good intention when it comes to financial preparation, but preparation for your mental health is equally as important.  Today’s episode features licensed psychologist Louis H. Primavera, PhD. Dr. Primavera is co-author of the book The Retirement Maze: What You Should Know Before and After You Retire. He specializes in behavior and rational emotive behavior therapies and is currently the Dean of Health Sciences at Touro College in New York. Wes and Dr. Primavera discuss the four stages of retirement, understanding the purpose of a bridge job, the importance of staying socially connected, and the psychological side of retirement. Learn more about your ad choices. Visit megaphone.fm/adchoices

Whether you get your news by television, websites, or social media, it is often dominated by a negative narrative. After all, the old saying when it comes to the media is, “if it bleeds, it leads.” As investors, we should not just pay attention to what we see and read but also focus on what we know.  In today’s episode, Wes addresses the critical importance of rational optimism for investors. He outlines a list of perpetual, formidable events that could negatively impact the economy at any time. While these events may seem bad now, savvy investors can counter this narrative with the knowledge that fundamentally good things are happening today - starting with the army of American productivity. Learn more about your ad choices. Visit megaphone.fm/adchoices

When learning how to walk, infants fail up to 70 times an hour yet, they still keep trying. So why can we as adults be so afraid to fail when trying something new? As we get older and deeper into adulthood, we sometimes forget what it feels like to begin again. Inspired by his young daughter's insatiable need to know how to do almost everything, and challenged by his own rut of mid-career competence, blogger, journalist, and best-selling author, Tom Vanderbilt took a year-long journey to master five new skills. In today’s episode, Wes sits down with Tom to talk through the important lessons he learned on his journey, how to reclaim your identity by learning something new and why failing is a good thing. Tom shares how anyone can begin again--and, more important, why they should take those first awkward steps. We’re fascinated by Tom’s pursuit to continue learning new skills and hope this episode inspires you to explore your own childlike wonders in retirement. Read more about Tom’s journey in his latest bo

Lately we’ve been inundated with news of people becoming millionaires overnight. 2021 has been the year of the ‘meme’ stock and this phenomenon has made it even more difficult for investors to keep their eye on the ball. For example, AMC recently announced a new program offering perks for shareholders which sent the stock through the roof. This new form of shareholder activism can be exciting but it’s not always a durable investment strategy for long-term investing. Today we’ll discuss the 15/50 Stock Rule, which helps guide investors in maintaining a balance between risk and reward according to their time horizon. The 15/50 portfolio idea has been around for decades, championed by Columbia Business School professor Benjamin Graham (mentor to famed billionaire investor Warren Buffet), as well as Vanguard founder, John Bogle. In this episode, we’ll focus on the conversation soon-to-be retirees are likely having which is, ‘how much as a percentage of our portfolio should we have in stocks over time?’   More on

When it comes to money, even smart people can make dumb decisions. What do you think is the genesis for poor financial decisions? Why can we be so bad at spending? There are so many silly things people do when making financial decisions. Jill Schlesinger, CBS News Business Analyst and Author, shares some fantastic advice about retirement planning and the questions you should be asking to define your needs, manage your money and make smart financial decisions. Jill talks about her beginnings with CBS and start in the financial industry, all which led her to become a leader in translating complicated business and economic news into understandable, relatable topics for everyday viewers and listeners. The Dumb Things Smart People Do With Their Money by Jill Schlesinger: https://www.jillonmoney.com/book/  Learn more about your ad choices. Visit megaphone.fm/adchoices

When The Millionaire Next Door book by Thomas Stanley was first released, I was an intern at my first investment job. Now, in its 23-year history, it has had a major impact on how people understand what it means to be wealthy in the United States.   In this episode, we’ll discuss the habits Thomas Stanley wrote about in 1996, of the people who have created not just high income, but wealth. We’ll talk about the ways you can implement the traits of the Millionaire Next Door, debunk the lies that you need to be hedonistically rich to retire successfully, share some millionaire statistics and the ways in which the Millionaire Next Door is related to the happy retiree.     The Millionaire Next Door by Thomas Stanley: https://www.themillionairenextdoor.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

As we approach midlife, a lot of us may find ourselves taking care of our aging parents, children, or both. How do we not go broke taking care of other people in our lives? Even people who spend a lot of time on financial planning tend to overlook their own needs in the long term for assistance with finances (paying bills, organizing things, etc) and healthcare (rides to appointments, caregiving, etc). Why is that? Richard Eisenberg shares a little bit about his personal experience as a caregiver and shares some best practices to providing care while also protecting our financial future and becoming a happy retiree.   Richard Eisenberg is an author and Managing Editor for Next Avenue - a PBS site. You can find Richard on Twitter at https://twitter.com/richeis315. Learn more about your ad choices. Visit megaphone.fm/adchoices

Humans are naturally reactive, it’s a survival technique but those who are able to look beyond the market storms are the investors that are typically rewarded.   Today I’m going to share with you one of the most powerful and helpful investment tools, in my opinion, to use when investing gets tough - The Dry Powder Principle. We’ll take a look at the history of how often and severe markets fall, the recovery time for all bear markets from 1928 and how The Dry Powder Principle can be helpful when preparing for retirement. Understanding market cycles can help us gain a sense of patience, look beyond the danger and stay invested over time - which is key to becoming a happy retiree.   More on The Dry Powder Principle: https://www.wesmoss.com/news/how-to-own-your-expenses-and-plan-ahead-for-market-storms/   The 15/50 Stock Rule: https://www.wesmoss.com/news/why-investors-should-consider-using-the-15-50-stock-rule/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Whether you’re 25 or nearing retirement age, you’ll learn something new about how to maximize social security and plan for the future in today’s episode with Mary Beth Franklin. Mary Beth is one of the country’s leading specialist on social security and medicare and writes a weekly column on retirement issues for Investment News, a publication for financial advisers.   In our conversation today she answers questions such as, why do you think Social Security has become so confusing and difficult for so many people to make sense of as they get ready to retire? What are some actionable steps to take right now to prepare for or maximize their social security? And what you need to know when it comes to spouses and social security.   History of Social Security: https://www.ssa.gov/history/index.html Where to find Mary Beth Franklin: maximizingsocialsecuritybenefits.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Retirement is one of the most exciting goals to strive for. All of your hard work saving and investing has paid off, and now you’re living the good life. But making the most of your post-career years means being on guard for a few financial pitfalls.   In my research, I’ve discovered that the happiest retirees know what to avoid and practice in order to retire sooner. So what mistakes are unhappy retirees making to prevent them from reaching economic freedom? In today’s episode, we’ll discuss the Rich Ratio, how much time you should really spend on your own finances, if you should purchase big-ticket items before or after retirement, and the things you should be focusing on while you save and plan for retirement.   David Bach on Retiring Overseas: https://www.wesmoss.com/podcasts/episode-2-david-bach-moving-overseas/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Time and time again research has proven that healthy interpersonal relationships are the key to happiness. So why do so many people get relationships wrong?   Today’s episode covers the best tips for helping us connect more authentically and find more happiness, the core principles of strong human connection, and how to ask for help and support from others with guest, Carole Robin Ph.D., who was the longtime teacher of Stanford University’s Graduate School of Business legendary Interpersonal Dynamics (aka Touchy Feely) course.   Check out Carole Robin's book, Connect Building Exceptional Relationships with Family, Friends, and Colleagues Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s episode, we’ll discuss if old-line industries or stocks can ever win again, if anything outside of tech companies can win over the long term, if value stocks are really all that valuable, and if old stocks are even worth considering to get to your happy retirement. Learn more about your ad choices. Visit megaphone.fm/adchoices

Carrie Schwab-Pomerantz, CFP®, is the daughter of Charles Schwab and a leading advocate for financial literacy. She has devoted her career to helping men and women from all walks of life achieve financial security and also oversees Schwab’s corporate philanthropy and employee volunteer programs.   Wes and Carrie discuss a variety of important financial items to consider as you prepare for your happy retirement on today’s episode. Carrie shares when to start saving, what to look at with social security, how much you should save to retire comfortably, why you should still invest in the stock market as you get older, her start with Schwab, and more.   Follow Carrie: @CarrieSchwab Learn more about your ad choices. Visit megaphone.fm/adchoices

 If inflation rears its ugly head like it did in the 1970’s we could see prices for everything that we care about and need go through the roof. How do you protect yourself if inflation is coming? Can you still retire sooner? Will you need to use more of your portfolio for basic necessities?  In today’s episode, we’re talking about the history of inflation, how the national debt and recent stimulus packages could impact Americans in the next 5 to 10 years, and what rising inflation could mean for investors and retirees. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s episode features international best-selling author, entrepreneur, single parent, speaker, and philanthropist Chris Gardner. Gardner’s autobiography, The Pursuit of HappYness became a New York Times #1 bestseller and is also the inspiration for the critically acclaimed film “The Pursuit of HappYness” for which Will Smith received the Golden Globe, Screen Actors Guild, and Academy Award nominations for his performance. Chris has a fascinating story and was a huge inspiration behind the start of Wes’ research on the relationship between money and happiness.  Wes and Chris discuss how bringing his book to life on the big screen with Will Smith changed his life, why he thinks many people are afraid to realize their dreams, the three most important decisions you can make, the concept of Atomic Time, and the inspiration behind his newest book, ‘Permission to Dream’. Find out what Chris thinks we should all know about the new "Three Rs," and how he is focusing on helping and inspiring teens around the country

What will new, higher corporate taxes mean for retirees and the economy? No matter where you are on taxes, no one likes to think of them going higher. That’s why they’re important to talk about. Taxes are a large piece of our financial portfolios and the more we’re educating ourselves the easier it is to stay on the path to a happy retirement. In today’s episode, we discuss how to navigate the cards we’re dealt with when it comes to corporate taxes. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ed Slott is a nationally recognized IRA distribution specialist, professional speaker, television personality, and best-selling author. He is known for his unparalleled ability to turn advanced tax strategies into understandable, actionable, and entertaining advice. This is the most interesting conversation we’ve ever had about taxes.  Wes and Ed discuss what exactly the new ‘retirement savings time bomb’ is and how big of a threat it is to retirement savers, understanding Roth IRAs vs. IRAs, the foundational principle of taxes, what planning options retirement savers now have, when to convert from traditional to Roth, potential tax changes under the new administration and so much more. As investors, there are several lessons we can all take from Ed today and we hope this conversation leads you to become a smarter taxpayer and retiree. Follow Ed: https://www.irahelp.com/ Twitter: @theslottreport Learn more about your ad choices. Visit megaphone.fm/adchoices

Wes talks about an unassuming force when it comes to investing - Stock Dividends. If there’s ever a concept in investing to remember, it’s this one. They don’t often make the flashy headlines, but the pursuit of dividends is perhaps worthy of a life’s work for any investor. Wes compares what you can get from stock dividends and bond interest based on a study done by his firm, Capital Investment Advisors.  There are many ways to invest, but the focus at Retire Sooner is to help you understand your investments and what they can produce for you in income once you stop working. As you listen to the episode today, focus on how you can make your money grow and payout over time. Capital Investment Advisors’ study that compares how an investment in equities for dividend income has fared relative to investing in bonds for income: https://www.wesmoss.com/news/the-power-of-investing-in-dividends-generating-income-from-stock-dividends-vs-bond-interest/  This information is provided to you as a resource for information