Retire Sooner with Wes Moss Wes Moss

Running out of money may be retirement’s most frightening concern, so it’s not surprising that people want to know how much of their nest egg they can safely spend. The 4% rule, identified by William Bengen, states that retirees who draw down 4% of their portfolio in the first year of retirement, adjusting every year for inflation, will likely see their money outlive them, assuming the portfolio has a 50-75% allocation to stocks. But what about people who want or need to spend more than that? Is 6% too high?
On today’s episode, Wes breaks down the pros and cons and estimates the probability of success for a 6% withdrawal rate rather than 4%. With careful consideration and planning, he looks for a way to help listeners max out spending without running out of money.
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Chan Hellman was nearly suicidal until someone in his life gave him hope. Now, he works to spread it to others. As the founding Director of The Hope Research Center at the University of Oklahoma, his research is focused on hope as a psychological strength for children, adults, and families experiencing trauma and adversity.

Chan believes one key is to start small. If your goal is to get healthy, that doesn’t have to mean a gold medal in the Olympics. Just go buy some running shoes.

His research shows there is no such thing as too much hope. Even when the chances are slim, there are usually pathways to get where you want to go.

In today’s episode, Chan teaches us how to find hope and implement it in our lives. He says imagination is the instrument of hope. We don’t have to summit the mountain in one day, but if we can imagine our future selves reaching wherever it is we want to go, it generates the willpower and motivation it takes to get there.

And if none of that hooks you, he even uses the Marvel movies as an example. If he can find hope for Iron Man, I know he can find it for you and me!
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On today’s episode, Wes welcomes Producer Mallory to the studio to tackle more questions from the hypothetical Retire Sooner conference. They analyze options for when to take Social Security, examine the idea of downsizing or relocating in retirement, review three habits that many happy retirees seem to incorporate into their lives, and discuss which tax considerations retirees might want to keep in mind when planning for the future.
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We live in a 21st-century world, and our brains haven’t quite caught up. They’re designed to look out for the Saber-toothed tiger, not a million dings and beeps from smartphones. It’s no surprise that anxiety is a massive problem in modern-day life.
But Dr. John Delony says anxiety isn’t necessarily a bad thing. It’s just an alarm system to keep us safe, and we can learn to tweak the settings.
John is a two-time bestselling author, holds two PhDs, spent over twenty years working in crisis response, and now hosts The Dr. John Delony Show on Dave Ramsey’s network.
John says that despite the good intentions of innovation, we’ve designed a world we just weren’t meant to live in. Trucks do the heavy lifting, air conditioners keep us cool, and algorithms decide what we experience. Our ancestors had to adjust to life’s challenges, and that’s what kept them healthy and connected. It’s easier to become overweight when you don’t have to move. And it’s harder to form a community when you can sit inside alone all day.
Many of us are less happy and more anxious, and John knows how to help change that. He helps people navigate tough decisions, improve their relationships, and accept that they are worthy of happiness. I know I could use some of that. And I’m pretty sure you could, too.
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On today's episode, Wes is joined by Producer Mallory Boggs. They brainstorm the idea of holding a “Retire Sooner Conference” and answer some of the questions the attendees might ask the panel.
Using his retirement calculator, Wes explores what constitutes a solid retirement plan and how much inflation needs to be considered. Then, combining his Retire Sooner Team’s research with analysis from The Ramsey Network’sDr. John Delony about the burden of debt, Wes answers whether people should or should not pay off their mortgage at retirement age. Next, he runs through how people can plan for their savings to last the duration of retirement, emphasizing how critical it is to become a tomorrow investor. Finally, he suggests that saving alone is like pushing a manual mower, while investing is like riding a John Deere Lawn Tractor. Which one would you rather use to get the job done?
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Edd and Cynthia Staton’s retirement plans were on track. Then, the 2008 Financial Crisis hit. Their careers disappeared, their home lost its value, and their savings plummeted. Realizing recovery was unlikely, they needed to come up with a Plan B.
And boy, did they ever.
In 2010, they moved to Cuenca, Ecuador. Don’t worry, they didn’t know where that was, either. But now they love it! They live in a 3,000-square-foot penthouse apartment, have a housekeeper, eat out frequently, never worry about health care costs, and walk to their favorite yoga studio.
And they aren’t the only ones. According to the Social Security Administration, the number of retirees drawing Social Security outside of the U.S. surged 40% between 2007 and 2017.
Edd and Cynthia are now seen as expat experts in retirement, traveling, and health and wellness. They’ve authored three Amazon #1 best-selling books, are regularly featured in major media, and run their own online program called Retirement Reimagined!
They believe the key to finding retirement happiness is not having to worry about money. As that becomes more challenging in the U.S., they may be saying hello to a lot more expat neighbors.
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