02.18.25 Ask An Advisor With Wes Moss

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.6 • 4.9K Ratings

🗓️ 18 February 2025

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

Do you want to be a millionaire? Wes dives into the fascinating trend of "mini millionaires" and uncovers the secrets to their success. He explores data from the Federal Reserve and the Wall Street Journal, revealing the common traits of those achieving millionaire status. Are they earning massive salaries? How much does education matter? He breaks down the key factors. Plus, he revisits the timeless wisdom of "The Millionaire Next Door" and how its core principles still apply today. Also, Wes shares three powerful investing lessons from an interview with the legendary John Bogle, founder of Vanguard. Plus, Christa shares your #AskWes questions and Wes gives his take. All this and more on the February 18, 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® Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:27.7	slash setup welcome to ask an advisor I'm Krista DiBiasz I'm Wes Moss'm Krista DiBias.
0:38.3	I'm Wes Moss.
0:39.3	Hi, Krista DiBias.
0:40.3	Great to see you, Wes.
0:41.3	I'm excited about today's show.
0:43.3	We're talking about what everyone wants to be, a millionaire.
0:46.3	How do you become a millionaire?
0:48.3	How many millionaires are there?
0:49.3	There are a lot more than there used to be, right?
0:51.3	It's interesting. It's still really hard in America to get
0:55.3	to the point where we have financial freedom and financial security. And I write for Forbes.com,
1:00.8	and I'm always looking at statistics around what we've saved in America. And the reality is
1:06.2	half the country still really has very little saved. And if you look at the bigger picture metrics and Federal Reserve does this,
1:14.6	there's lots of different government agencies that are trying to measure wealth.
1:18.1	But the Fed in their consumer survey, their survey of consumer finances,
1:24.2	they do this every three years.
1:25.9	There's a new one that's going to come out at the end of
	...

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