Money Matters With Wes Moss

On today’s episode of the Retire Sooner podcast, Wes welcomes back Mary Beth Franklin. This time, she takes on the herculean task of simplifying Medicare. They get into the differences between Medicare A, B, C, D, Advantage Plans, Gap Plans, and Supplemental Coverage. Mary Beth lays out which options might suit which people, depending on their lifestyles. She flags when it could be ideal to pay for the more expensive plan and when the cheaper selection could suffice. She gets into the weeds on age, tax requirements, and how to avoid penalties. She tells Wes what Medicare looks like for American citizens living abroad, sets the record straight on Medicare vs. Medicaid, and explains why paying FICA payroll taxes all those years doesn’t make your retirement coverage free. As always, Mary Beth keeps Wes on his toes. Listen and find out why. Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s episode of Retire Sooner, Wes welcomes Happiest Retirees podcast host Ryan Doolittle to discuss college football legend Nick Saban’s recent retirement. They delve into his famous coaching process, looking for helpful financial and life-planning tips. Using Saban’s specific principles, they lay out the case for focusing on the process rather than the outcome to achieve a happy retirement. What are Coach Saban’s own chances for a happy retirement? Listen and find out. Learn more about your ad choices. Visit megaphone.fm/adchoices

Social Security can be an essential stream of income for retirees on a fixed income. Unfortunately, the seemingly endless rules and regulations can overwhelm even the most informed applicants. In today’s Retire Sooner episode, Social Security ace Mary Beth Franklin joins Wes to bring listeners the most up-to-date information and context about avoiding pitfalls and maximizing benefits. In a dynamic conversation, Wes channels the questions of many Americans. He even puts Mary on the hot seat about whether or not Social Security funds will last for future generations. You may be surprised by her opinion. Learn more about your ad choices. Visit megaphone.fm/adchoices

In today’s episode of the Retire Sooner podcast, Wes is joined by Capital Investment Advisors Co-Chief Investment Officer Connor Miller. They discuss the possibility of 2024 ushering in “A Whole New World” for markets, investors, and retirees. They reiterate that purchasing power is a perennial goal for the happy retiree. Inflation lay nearly dormant from 2009 to 2020 as if it were a prehistoric beast frozen deep inside an Arctic glacier. Unfortunately, the government’s post-pandemic monetary tidal wave reawakened it. Because of that, folks may need to adjust in 2024 to stay ahead of the curve. Wes and Connor run through recent and long-term history and search for the clues that could determine what’s to come in the year ahead. Learn more about your ad choices. Visit megaphone.fm/adchoices

Anyone in the Retire Sooner family knows how passionate Wes is about the 4 Percent Rule—William Bengen’s rule of thumb that originally discovered retirees who draw down 4 percent of their portfolio in the first year of retirement and then adjust this amount yearly for inflation would likely see their money outlive them, assuming a 50 to 75 percent allocation in stocks. On today’s episode, Wes discusses Dave Ramsey’s recent controversial statements about doubling the number to 8 percent. You read that correctly—8 percent! Wes runs Ramsey’s claims against data from Robert Shiller, an economist at the Yale School of Management, and attempts to set the record straight on how much people can safely expect to spend during retirement. Learn more about your ad choices. Visit megaphone.fm/adchoices

Happy holidays to my favorite happy retirees and aspiring retirees! The Retire Sooner Team is taking a little time off to step away from the office and connect with friends and family. We'll be back with a new season in January with more fun episodes that I hope will help push you to retire that much sooner and happier. If you have any ideas on topics you'd like for us to cover in the near year, please let us know! Visit the Contact page on RetireSoonerTeam.com. Those messages come straight to me and the Retire Sooner Team. We'd love to hear from you! Learn more about your ad choices. Visit megaphone.fm/adchoices

Arguably the most recognized male figure skater in the world, Scott Hamilton has won seventy titles, awards, and honors, including an Emmy nomination, induction into the United States Olympic Hall of Fame, and the World Figure Skating Hall of Fame. He later became a fan-favorite analyst/commentator, performer, producer, and best-selling author. He even shared the big screen with Will Ferrell and Amy Poehler in the classic comedy Blades of Glory. As fierce as the competition was in the skating rink, he’s experienced even more challenges off the ice. Scott lost his mother to cancer and survived four separate rounds of it in his own life. Now, he makes sure his actions are meaningful physically, emotionally, intellectually, and spiritually. Otherwise, he says, it’s as unbalanced as sitting in a three-legged chair. Now married with four children, Scott is an activist, having launched the Scott Hamilton CARES Foundation (Cancer Alliance for Research, Education and Survivorship). He also founded several education a

In today’s episode, Wes points out that the population of mini-millionaires is growing and that society’s perception of them isn’t always very accurate. Producer Mallory Boggs joins to discuss this latest variant of what authors Thomas Stanley and Bill Danko originally coined, The Millionaire Next Door. They elaborate on five habits that this cohort tends to follow. And Wes points out that although investing is often a critical step to becoming a millionaire, it’s perhaps even more essential in the pursuit of staying a millionaire. Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s episode, Wes sits down with a woman who has dedicated her life to finding ways to protect retirement assets. As the director of victim support for the AARP Fraud Watch Network, Amy Nofziger has nearly two decades of experience in fraud prevention and victim support. A certified fraud examiner, she’s worked with the Wall Street Journal, Live with Kelly and Ryan, and Dr. Phil, among others, to shed light on consumer exploitation. The heinous nature of fraudsters is matched only by their cunning methods. Amy’s seen everything from business impersonators to LinkedIn scams to Crypto gift cards. There was even a guy named the Tinder Swindler who used romance to con unsuspecting women. Amy says fraud happens to people of all ages, but because older folks tend to have more money, they are bigger targets. $8.8 billion was reported lost last year, and due to underreporting, that number might be ten to twenty times higher. Sadly, most people never see their money again. Our best weapon to protect our finances

Is your relationship with money holding you back from finding financial success? Many of us have a rocky relationship with money, but if we looked at our capital from a different perspective, this could possibly change our outlook and relationship with money. To aid us in improving our connection with our funds and uncover the trick we need to change our relationship with money, Wes sits down with Ken Honda, a worldwide, well-known author whose books have sold more than 8 million copies, including his latest book called Happy Money: The Japanese Art of Making Peace With Your Money. Ken shares how the Japanese look at retirement, explains happy money versus unhappy money, and talks about fairness when it comes to how much money you possess. He also reveals two ways to find peace and happiness with money, how appreciating your funds can help you appreciate other things in your life, and defines invisible and visible assets. To wrap up the episode Ken and Wes touch on teaching children about money, happy money

When Betty White died in 2021, we were somehow surprised. Even at 99-years-old, it felt like she was gone too soon. Smokey Robinson just released a new album at 83 years of age. Martha Stewart posed in a bathing suit on the cover of Sports Illustrated at 81.   How we think about aging is much different than it used to be, and Ken Dychtwald is one of the foremost authorities on these changing perceptions. For more than 45 years, he’s been an original thinker on the lifestyle, marketing, health care, economic, and workforce implications of the age wave.   In today’s episode, he tells us that older adults no longer have to put up with being called “golden agers” because they’re too busy leading vibrant, productive lives beyond traditional retirement. As shown by the growing unretirement trend across the country, happy retirees don’t necessarily stop working. They just start saying “no” to the things they never liked in the first place.   With a mindset of 'usefulness' over 'youthfulness,' Ken Dychtwald encourage

Although numerous habits make up the structure of a happy retiree, financial habits play a large part in creating the fulfilling retirement you’ve always dreamed of and being able to fund your additional interests. In this episode, Wes breaks down the five financial secrets of the happiest retirees based on research from his latest book, What The Happiest Retirees Know, and reveals how these patterns are fundamental to building wealth and living a comfortable retirement. Learn more about your ad choices. Visit megaphone.fm/adchoices

The term “Unretirement” is popping up more and more these days, and Chris Farrell literally wrote the book on it. After years of studying and reporting on the economy for PBS Next Avenue and Bloomberg Businessweek, Chris’ latest book, Purpose and Paycheck, further drives home the point that, at our core, humans have a deep need to be useful. A leading voice of the Unretirement movement, Chris joins Wes to share his thoughts on why so many Baby Boomers have decided to embrace the Unretirement lifestyle on their terms. He describes the creative attempts people are using to leverage career experience as a way of carving new paths. If you think of yourself as someone who might want to unretire, today’s episode is for you. Learn more about your ad choices. Visit megaphone.fm/adchoices

Change is a natural part of life. The more we lean in to that change, the better we can plan for and adjust to its consequences. On today’s episode, Wes points out some of the common catalysts for that change, and how we can ultimately make them work for our own retirement happiness. Learn more about your ad choices. Visit megaphone.fm/adchoices

How do banks calculate the amount due on your monthly mortgage payment? Here’s a hint: it’s not based on an intrinsic desire to benefit you. Banks are in business to make money; you are their compound interest vehicle. In part two of our interview with Adam Carroll, he tells Wes about the Shred Method: a step-by-step guide to optimize your income, eliminate debt, and build real wealth and home equity in a much faster way than the typical 30-year mortgage. He also shares tips for building massive, passive, and permanent income in the pursuit of retiring sooner. Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s show, Wes takes some time to answer listener questions. He covers the different phases of retirement, the pros and cons of keeping more than one property at a time, and why some folks have been apprehensive about the recent bond market. If you have a question for Wes, call 800-805-6301 to leave a voicemail or head to our Facebook group and write a comment. Learn more about your ad choices. Visit megaphone.fm/adchoices

Imagine playing Monopoly with actual money. Adam Carroll put $10,000 cash on the board and made his kids roll the dice. He wanted them to learn money's true value before entering the real world. From virtual tokens to Apple Pay to mom and dad’s wallet, kids aren’t often exposed to the concept that there is a literal price to pay for the goods and services we need and desire. On today’s episode he’ll explain that and his methodology for paying college tuition without incurring massive debt. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today, Wes wades into the concept of Unretirement. Multiple studies suggest that some Americans return to work six months or a year after retiring. There are several reasons for the trend. Wes explains the potential motivations and lists essential factors folks need to consider when making this decision. Whether you’re looking for a renewed sense of purpose or a change to your financial situation, you don’t want to miss this episode. Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s episode, Wes sits down with Ryan Doolittle, host of the Retire Sooner Team’s brand new podcast: Happiest Retirees. Ryan tells Wes that he originally came up with the idea as a way to talk less about philosophy and more about the actual people on the ground, living happy lives in retirement. How did they discover the core pursuits that gave them purpose and passion and how did they make them a reality? By going straight to the source, Ryan hopes the show will shine a light on the road map and provide inspiration for others looking to find happiness. Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s show, Wes talks about what Warren Buffett called the “rising tide.” Wes feels the bad news about higher interest rates is good news for income investors. By combining the rising stock dividends, the concept of yield at cost over time, and higher interest rates paying more income, Wes has seen the typically diversified growth/income portfolio looking more robust than it has in a long time. The mention of any company is provided to you for informational purposes and as an example only and is not to be considered investment advice or recommendation or an endorsement of any company. The listener should not assume that an investment in the securities identified was or will be profitable. Learn more about your ad choices. Visit megaphone.fm/adchoices