09.22.26 Ask An Advisor With Wes Moss
Summary
Wes Moss discusses the psychological challenges of retirement, citing alarming statistics on suicide and isolation among seniors, and urges listeners to prioritize community and purpose. He introduces a new decision framework for choosing between lump sums and pension payouts, advising a default to lump sums unless specific longevity and liquidity criteria are met. The episode also covers listener questions on downsizing homes, diversifying inherited stock, and optimizing HSA and target-date fund strategies.
Topics discussed
Sponsor: 1st Citizens Bank and Silicon Valley Bank
Sponsor: ChatGPT Work
Introduction: Ask an Advisor with Wes Moss
The concept of the happy retiree
New approach to lump sum vs. payment streams
Financial foundation vs. lifestyle habits for retirement
Statistics on suicide rates in men 75+
Rising overdose deaths in adults 65+
Social isolation among seniors
The friendship recession and purpose vacuum
Advice to discuss retirement challenges with family
Q&A: Moving from a paid-off home to a larger one
Q&A: Diversifying inherited stock for a 90-year-old
Q&A: Timing 401(k) rollovers during job changes
Sponsors: Schwab, AT&T, Talking Real Money, Range Rover
Lump sum vs. pension: Context and history
The 6% test and four questions for decision making
Tax implications of lump sum rollovers
Q&A: Investing HSA funds in mutual funds
Q&A: Maxing 457s vs. paying off mortgage early
Q&A: Target date funds in accumulation vs. distribution
Outro: Book recommendation and sponsors
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