The Clark Howard Podcast 07.29.25 Ask An Advisor With Wes Moss
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Jul 29, 2025 
Wes Moss, a fiduciary financial advisor and author of 'Are You Richer Than You Think?', shares insights on personal wealth and tax strategies. He introduces the intriguing concept of the 'rich ratio,' helping listeners gauge their financial wellness. The conversation also unveils the NUA rule, a tax-saving gem for 401(k) holders. Wes addresses listener questions, exploring retirement strategies and the surprising ways modest savings can elevate well-being, ultimately encouraging a smarter approach to investing and retirement planning.
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Understanding Your Rich Ratio
- Your "rich ratio" is monthly income divided by monthly needs; if it's over 1, you're financially "rich."
- Money increases happiness only up to a point; beyond needing enough to cover expenses, extra money adds little joy.
Do You Need a Brokerage Account?
- A brokerage account might not be necessary if you have a 457 and Roth 457 offering penalty-free withdrawals before retirement.
- Still, having a brokerage account provides flexibility and is not a bad idea, even if not mandatory.
Target Date Fund Hack
- You can choose a target date fund with a later date to get a higher stock allocation if the default fund seems too conservative.
- Review and adjust your fund allocations regularly to ensure they match your risk comfort.