09.09.24 The High Cost of Timing the Market / A Safety Buffer From Down Markets

The Clark Howard Podcast

Clark Howard

Business, Investing, Entrepreneurship

4.6 • 5.2K Ratings

🗓️ 9 September 2024

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Clark is out on one of his adventures today, returning tomorrow. Wes Moss, a fiduciary financial advisor and friend of Team Clark, joins Christa to answer your investing questions and discuss two important retirement topics. The stock market can have major swings. Unfortunately, the volatility can cause us to panic and take money out in response. However, numbers show that missing the best 10 days in any given year over a 25-year period can reduce your return from 9% to under 6% – and it gets worse the more time your money is not invested! CERTIFIED FINANCIAL PLANNER® Wes Moss, a managing partner with Capital Investment Advisors, joins Christa to discuss the financial consequences of taking money out and why it’s important to stay calm in any market. Also, the stock market is a marathon, but how do we buffer ourselves from the stress of risk? Wes talks about the “dry powder” principle. It can help us be better investors and help keep our wallets safe! Plus - Is waiting to take Social Security wise or is it a “scam”? Missing Out on the Stock Market: Segment 1 Ask Wes: Segment 2 The Dry Powder Principle: Segment 3 Ask Wes: Segment 4 Mentioned on the show: How Much Cash Do You Need To Survive A Volatile Market? Wes Moss, Capital Investment Advisors Should You Sell or Stay Put in the Stock Market? What Is an Annuity, and Why Does Clark Think They Stink? Find Freedom In Retirement With These Core Financial Principles When Is the Best Time To Collect Social Security? Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 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 the Clark Howard Show where our mission is to serve and empower you to make
0:08.9	better financial decisions in your life.
0:12.4	This is Krista. Clark is out.
0:14.3	Wes, when I asked you to come back, I bet you didn't realize it was going to be just like in a few days.
0:18.5	Again? Okay, good. I'm happy to be here.
0:20.8	Excited to be back.
0:21.6	So that Boyce is Wes Moss. He is a fiduciary financial planner and
0:28.0	Wes is back with us because Clark's playing hook you today. He will be back tomorrow and
0:32.4	we've got a lot of investment questions including some about
0:35.4	Social Security in the second half that I'm going to ask you.
0:38.0	That's always a big topic for our audience.
0:41.2	So what are you going to talk about today?
0:43.0	Well there's a couple of things right the in any given year there's volatility in in the
0:48.6	market and 2024 no different we've had some really dramatic drawdowns and
0:55.1	corrections if close to technical corrections here in the United States and around the
1:00.5	world. The Japanese stock market this year fell 12% in one day and anytime
1:05.3	you get that big of a market downfall or waterfall decline it makes investors really nervous
1:12.3	and I think it's really important to think about what are some of the investing principles that will be on your side that you really need to rethink year after year
1:23.2	so that you get to a point in retirement
1:25.2	that you have financial and economic freedom.
1:27.4	And one of those is staying invested
1:30.5	and not missing just a few of the best days in any given year or even multi year
	...

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