09.15.26 Ask An Advisor With Wes Moss
Summary
Wes Moss discusses the "everywhere millionaires" concept, highlighting how wealth is built in low-tech, tactile businesses like franchises and trades rather than just tech hubs. He also addresses the "Coast FI" movement, cautioning that stopping savings early is risky due to unpredictable life expenses and market volatility. The episode concludes with advice on optimizing high-income tax strategies, using securities-based lending for real estate, and converting 529 plans to Roth IRAs.
Topics discussed
Sponsors: Indeed and Gatorade
Intro: Wes Moss and the Retire Sooner Method
Origins of the 'Everywhere Millionaires' topic
Defining low-tech wealth and franchise examples
Case studies: Portillo's, Dave's Hot Chicken, and trades
Self-employed income data and trade school advice
Q&A: Balancing stocks and bonds for retirement
Q&A: Tax and retirement strategy for a new lawyer
Q&A: Lump sum vs. monthly pension payout
Sponsors: Schwab, AT&T, and Talking Real Money
The Coast FI movement: benefits and hidden dangers
Q&A: Using securities-backed lines of credit
Q&A: Creating income for ACA subsidies via gains
Q&A: Converting 529s to Roth IRAs for teens
Outro and Sponsors: Citizens Bank and Uber Eats
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