The Clark Howard Podcast 09.09.25 Ask An Advisor With Wes Moss
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Sep 9, 2025 
Wes Moss, a fiduciary financial advisor, explains the surprising disconnect between the stock market's strength and a lackluster economy. He reveals the true driver behind stock performance and emphasizes why even well-crafted estate plans often collapse into chaos. With relatable examples from celebrities, he navigates the complexity of estate disputes and offers retirement planning tips, including strategies for early access to funds. Wes tackles listener questions, blending humor with invaluable financial advice for all.
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Market Tunes Out Economic Noise
- The stock market often diverges from the 'main street' economy because it focuses on corporate earnings rather than everyday employment conditions.
- Strong corporate earnings and margin expansion can lift stocks even when hiring slows and unemployment claims rise.
Profit Margins Rise As Firms Cut Labor
- Companies are improving profit margins by doing more with fewer employees, often via technology or efficiency moves.
- Margin gains can boost earnings even as hiring slows, creating a disconnect between corporate health and worker outcomes.
How To Use NUA Correctly
- Use the Net Unrealized Appreciation (NUA) rule only after understanding its calendar-year rollover requirement.
- If you elect NUA, roll the entire 401(k) balance by year-end and pay ordinary income on basis then capital gains on future sales.