The Clark Howard Podcast 03.25.25 Ask An Advisor With Wes Moss
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Mar 25, 2025 Wes Moss, a fiduciary financial advisor, shares insights on navigating the current turbulent market. He highlights a significant trend of retirement account trading driven by alarming headlines, advocating for confidence in uncertain times. Moss introduces the 'Dry Powder Principle' to protect your portfolio amidst volatility. The conversation emphasizes understanding risk tolerance and adapting investment strategies throughout life stages, while exploring the dynamics of dividend stocks in relation to overall financial planning.
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Visualize Your Future Self
- Visualize your future self in 10 years and adjust your savings accordingly.
- This visualization technique can increase long-term savings by 14%, according to research.
Diversify Your Dry Powder
- Diversify dry powder beyond cash into safe assets like bonds, CDs, and money markets.
- Aim for three years of spending needs beyond guaranteed income, considering various safe investments.
Roth vs. Traditional 403(b)
- Consider Roth 403(b)s if you are in a lower tax bracket now than you expect to be in retirement.
- If you're already saving significantly in a traditional 403(b), adding Roth contributions can help balance your tax diversification.