Retire Sooner with Wes Moss

In this actionable episode of Retire Sooner, Wes Moss sits down with Erin Eleuterio to explore the importance of physical activity for older adults. Erin shares her unique techniques, like parkour-based fall resiliency training, to help people in their 70s and 80s stay strong and recover from falls. They discuss the benefits of programs such as SilverSneakers, which offers resources for seniors to stay fit. Erin emphasizes the joy and social aspects of movement, rather than just focusing on exercise. She also talks about the growing trend of older adults taking up new activities, like weightlifting and even low-flying trapeze, challenging stereotypes about aging. With practical tips and inspiring stories, this episode highlights how staying active can lead to a healthier, happier retirement. 

Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s episode, we ponder the question, “Can money buy happiness?” The answer might surprise listeners, and Wes borrows the words of best-selling author Morgan Housel to help discuss the positive and negative psychological effects money can have on retirees. Wes then uses his own “Bucket System” analogy to explain income investing and how three keys can help folks sleep well at night.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Morgan Housel’s eye-opening book amplified the idea that the intersection of psychology and money is bigger and more bustling than most of us know. Today’s guest, Christine Moriarty, has dedicated her life to finding harmony between the two.

Christine isn’t the typical CERTIFIED FINANCIAL PLANNER™. Despite her finance degree and MBA in Entrepreneurship, she was never even remotely interested in finances. She was always more interested in the people behind them.

Money is just an object. Yet, it has the power to trigger our deepest fears and anxieties. Her mission, as the founder of MoneyPeace, is to help individuals recognize and overcome these emotional barriers, empowering them to achieve peace and prosperity in their financial and personal lives.

She also discusses money and memory and wants to help families plan for the implications the aging process can have on financial situations.

Having worked with thousands of people and shared her insights with publications such as USA Today, Good Housekeeping, Fidelity Focus Magazine, and more, she has often been referred to by her clients as “the cash counselor” or “financial therapist.”

Whether between a husband and wife, a mother and a son, two friends, or even a personal connection with money, relationships can be fraught and complicated. Listening to Christine can help us see the approach needed to improve that dynamic and positively impact our overall quality of life.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Despite the continued popularity of retiring at 65, many folks are drawn to the allure of an early exit. The promise of more time for family, travel, and core pursuits can be hard to resist—the very mission of this podcast is to help people retire sooner than they ever thought possible.

But as wonderful as an early retirement can be if you can afford it, there are potential hazards for people who don’t take the time to plan. On today’s episode, Wes dives into five common missteps that risk sabotaging the happiness you’ve worked so hard to achieve. With diligent and strategic planning, you can run down the list and make sure all of your ducks are in a row before making your decision.

The right lifestyle and money habits can help you prepare for a secure future so that you can decide the right time to make that future your present.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Jaspreet Singh’s parents gave him two choices: become a doctor or be a failure. Understandably, he chose medicine, but deep down, he knew it was for all the wrong reasons.

People like Jaspreet are born entrepreneurs. They just see the world a little bit differently. He inherently knew he could be happier and make more money doing something else, and he tried just about everything.

From drumming to an event planning company to law school to real estate, one thing became clear—he needed more funding. So, he came up with a unique idea: a water-resistant athletic sock. He used this innovative product to raise the capital he needed. When a marketing scam lost him thousands of dollars, he started an educational social media page called The Minority Mindset to help other outside-the-box thinkers avoid making the same mistakes.

To his surprise, the YouTube Channel hit 100,000 subscribers, so he put the sock back in the drawer and dedicated himself to making financial education fun and accessible. Today, The Minority Mindset has nearly 2 million subscribers and multiple offshoots, including Briefs Media and the Market Insiders investing education app.

Jaspreet’s brand has helped countless people free themselves from debt and start investing. His story reminds us that, though we all make mistakes, with the right mindset and strategies, we can create our own path to financial success.

Learn more about your ad choices. Visit megaphone.fm/adchoices

According to a National Institute on Retirement Security report, 79% of Americans agree that there is a retirement crisis. It also revealed that over half of Americans are concerned they won’t be able to achieve financial security. 

Retirement insecurity may be a daunting reality,​ but on today’s episode Wes sets some theoretical parameters to illustrate potential scenarios and how they might positively affect the future. Planning for retirement can be challenging, but Wes points out that with self-discipline, some savings, and time, happiness and financial freedom may be within reach sooner than you think.

Learn more about your ad choices. Visit megaphone.fm/adchoices

We all know that older person who just seems so young. How do they pull it off? Did they hit the genetic jackpot? Or do their lifestyle habits act as a fountain of youth?

Doctor Dawn Carr has answers. With a PhD in Sociology and Gerontology, she directs the Claude Pepper Center at Florida State University and is a former researcher at the Stanford Center on Longevity.

What I loved about Dawn was that, unlike so many in her field, she has concrete solutions to many of life’s challenges. She doesn’t just identify the problems or hand out vague suggestions. She has a litmus test for determining a person’s social health. How many close friends should we have? How cognitively complex should our daily activities be? Can more sleep help prevent mental decline? Answering her specific questions can help us determine how to maximize the vibrancy of youth while we age.

No one has a magic wand. We’re all getting older. But listening to Dawn Carr might help you enjoy the process.

Learn more about your ad choices. Visit megaphone.fm/adchoices

According to a recent Schroders study, just 4% of current retirees say they are “living the dream,” while another 4% report they are “living a nightmare.” On today’s show, Wes lists some primary concerns, including inflation and unpredictable market fluctuations. He then relates it to the Dow, S&P 500, and Nasdaq, each hitting all-time highs in May 2024, and how market history can possibly serve as a guide for long-term investing. Producer Mallory also stops by to compare and contrast her mom’s happy retiree core pursuits with her dad’s desire to keep working. Wes builds on this by describing a postcard he received from some happy retirees who are currently spending six months at sea.

Learn more about your ad choices. Visit megaphone.fm/adchoices

You work hard for your money. But what if your money could work even harder for you? Brian Preston says there’s a way to make that happen. It’s called taking control of your financial freedom, and in his new book “Millionaire Mission,” he makes the case that it’s simpler than you think.

I’ve known Brian for a long time. His podcast, “The Money Guy Show,” is incredibly popular. Sure, he’s got a bunch of impressive initials after his name, but what makes Brian so fascinating is how he lives his message. His wealth didn’t come from anything flashy. He built it through saving and investing as a business owner.

Brian’s high school economics teacher told the class that if they invested just $100 per month, one day, they’d be millionaires. Brian was listening. While others were daydreaming about a new truck or the big game, his passion for personal finance was ignited. I’m guessing that didn’t make him the most popular kid in school, but much like compounding interest, it sure paid off later.

Navigating life’s obstacles as we plan for retirement can feel like a riddle wrapped in an enigma. But Brian’s message can demystify the process and show you the way to build transformative wealth with the tools you already have available.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Running out of money may be retirement’s most frightening concern, so it’s not surprising that people want to know how much of their nest egg they can safely spend. The 4% rule, identified by William Bengen, states that retirees who draw down 4% of their portfolio in the first year of retirement, adjusting every year for inflation, will likely see their money outlive them, assuming the portfolio has a 50-75% allocation to stocks. But what about people who want or need to spend more than that? Is 6% too high?

On today’s episode, Wes breaks down the pros and cons and estimates the probability of success for a 6% withdrawal rate rather than 4%. With careful consideration and planning, he looks for a way to help listeners max out spending without running out of money.

Learn more about your ad choices. Visit megaphone.fm/adchoices