The Clark Howard Podcast 03.04.25 Ask An Advisor With Wes Moss - 10 Habits of the Happiest Retirees
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Mar 4, 2025 Wes Moss, a fiduciary financial advisor with expertise in retiree happiness, shares 10 key habits that ensure a fulfilling retirement. He emphasizes the significance of both financial planning and lifestyle choices, recommending a financial target of $750,000 and diverse income streams. Engaging in 'core pursuits' and maintaining social connections are highlighted as vital for mental well-being. The discussion also touches on adjusting investment strategies and navigating TSP allocation to create a balanced retirement portfolio.
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Financial Habits for Happy Retirees
- Aim for at least $750,000 in liquid savings by retirement, with an average of $1.25 million.
- Develop multiple income streams, ideally three or more, to diversify and increase peace of mind.
Mortgage Payoff
- Pay off your mortgage within five years of retirement or sooner if possible.
- This reduces expenses and allows for more discretionary spending.
Invest with Optimism
- Invest rationally and optimistically to achieve financial goals.
- Don't let pessimism hinder your investment strategy.