The Clark Howard Podcast 01.28.25 Ask An Advisor With Wes Moss - Is It Ever Too Late To Save for Retirement? and Big Social Security Change for Millions
Jan 28, 2025
Wes Moss, a fee-only fiduciary financial advisor, shares valuable insights on retirement savings and Social Security changes. He assures listeners that it’s never too late to start saving for retirement, offering strategies that ease financial anxiety. The conversation highlights impending Social Security adjustments affecting public sector employees and discusses how legislative shifts could enhance benefits for many. Wes also answers listener questions, emphasizing the role of fiduciary advisors in securing financial futures.
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Start Saving Now
- It's never too late to start saving for retirement, even in your late 40s or 50s.
- Focus on maximizing 401k contributions and consider after-tax investments.
Late Bloomers
- Late-start Larry and Lisa began saving in their late 40s and amassed $2 million over 15-20 years.
- They achieved this by diligently contributing to 401ks and after-tax savings.
Invest and Plan
- Don't just save; invest your savings to benefit from market growth.
- Consider future income streams like Social Security and pensions when planning.
