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

The Clark Howard Podcast

Clark Howard

Business, Investing, Entrepreneurship

4.6 • 5.2K Ratings

🗓️ 28 January 2025

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Is It Ever Too Late To Save for Retirement? Fee-only fiduciary financial advisor Wes Moss has an answer, backed by years of research. Also, a major Social Security change in 2025 is set to positively impact nearly three million people. Wes explains everything you need to know, including who will see an increase in their checks. Plus, Christa shares your #AskWes questions and Wes gives his take. All this and more on the January 28, 2025, Ask an Advisor episode of the Clark Howard podcast. Submit your questions at clark.com/ask. We hope you enjoy our weekly Ask An Advisor episodes, in which Christa and Wes discuss investing and retirement savings in depth. Let us know what you think in the comments! Learn more about Wes: Wes Moss, CFP® Read Wes’ 5 Keys To Be a Successful Investor APELLA WEALTH - Advice For Life Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	What kind of weekend are you in the mood for?
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0:06.0	Whether that be two days of twists and turns with only murders in the building,
0:11.0	drama and fine dining with The Bear,
0:13.0	or a journey back to feudal Japan with Shogun.
0:17.0	January weekends just got better with Disney Plus.
0:20.0	Tap the banner to learn more. 18 plus subscription required. Learn better with Disney Plus. Tap the banner to learn more.
0:22.1	18 plus subscription required.
0:24.0	Learn more at Disneyplus.com.
0:29.8	Welcome back to Ask an Advisor.
0:34.2	I'm Krista Dibiaz here with Wes Moss, who is a fiduciary, the only advisor. We are back to
0:41.2	answer your investment questions, and we really appreciate everything you've done so far, Wes.
0:47.1	I know there's been great feedback here. And today, you're going to address something I know
0:51.0	to begin that we hear about a lot on the Clark Howard show, which is,
0:54.8	is it too late for me to start saving for retirement? People start to panic because truthfully,
1:00.1	most people don't save anything for retirement. And so I'm really excited about that. And what else
1:05.1	are you going to talk about today? There's also the biggest, you could call this the biggest change
1:09.3	since they introduced COLA, which is the cost of living adjustment for Social Security back in the, I want to say the 1950s.
1:16.9	I mean, there's been some seminal changes to Social Security over the last 50 years plus.
1:21.7	But at the beginning of this year, I would say this is the biggest game changer in Social Security in many decades. Now, it only
1:29.5	applies to, let's call it, three million people, but I think almost every one of us knows a teacher,
1:34.7	a nurse, fireman, policemen, a local government worker in the family. And it's a big impact
	...

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