08.26.25 Ask An Advisor With Wes Moss

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.6 • 4.9K Ratings

🗓️ 26 August 2025

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

A retired couple’s home renovation plans nearly triggered a massive, hidden cost that no one wants to pay: the Income-Related Monthly Adjustment Amount (IRMA). Fiduciary financial advisor Wes Moss breaks down how a simple plan to pay for a renovation could have led to thousands of dollars in extra Medicare premiums and what you can do to avoid a similar fate. Also, Wes dives into the world of AI and financial planning. He explains why AI is a powerful tool for analysis, but warns against using it as a fortune teller. Find out how you can use AI to your advantage while avoiding the dangerous pitfalls of letting it make your big financial decisions for you. Plus, Christa shares your #AskWes questions and Wes gives his take. All this and more on the August 26, 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: BOOKS BY WES MOSS / 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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0:00.0	Welcome to Ask an Advisor. I'm Krista DiBiase.
0:08.0	Wes Moss here.
0:10.0	Hello, Webb.
0:11.0	I love a lot of...
0:12.0	Sharp look.
0:13.0	You know, there was a vest, and then people would say, wait a minute, how can you be wearing your best in the middle of the summer?
0:18.0	I wear my same clarkiform, my same shirt.
0:18.7	Clarkiform. I don't know. Have you ever seen Clark in a blazer? Yes, I've seen Clark in a suit. Oh, yeah. And you know, he paid very little for the suit. I believe that. He has a dollar. I don't know if he saw that he had a dollar suit that he got at a thrift store. I'm not sure if he still has that but I know he pays less than 100
0:19.9	A $1 suit
0:21.5	Mm-hmm
0:22.0	That's amazing I don't know if he saw he had a dollar suit that he got at a thrift store. I'm not sure if he still has that. I know he pays less than 100.
0:39.3	A $1 suit? Mm-hmm. That's amazing. Only Clark can do. He's a $99 tuxedo.
0:44.5	I believe. Yeah. I believe it. Anywho, on Ask an Advisor, we go deep on all things investing. And today, I know later on you're going to get to something that we've been getting
0:55.1	questions about AI's role in investing.
0:58.0	I think that's going to be really interesting.
1:00.2	And then you gave me a tease, which I found very compelling.
1:03.5	If one couple's renovation can affect their Medicare?
1:09.7	The Medicare costs, their Irma, their income-related monthly adjustment when it comes to how much they're paying for Medicare, Part B, and Part D is in David.
1:21.7	Okay, and I've got lots of questions for you.
1:23.8	So you can send those questions in at Clark.com slash ask for Clark Howard or for
1:29.3	West Moss. It is funny. Irma is it's an interestingly long acronym that nobody wants to
1:36.9	really deal with. Income related monthly adjustment amounts. Okay. It's one of these
	...

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