Full Show: 5 Keys To Be a Successful Investor

Saving for retirement is largely our own responsibility as individuals. As we live longer, we have a lot of time in retirement to prepare for. Plus, events in the world can be complicated which can make investing a nerve-wracking decision. Fortunately, there are basic core pillars and strategies that successful investors share. In this episode of Ask an Advisor, fee-only fiduciary financial advisor Wes Moss breaks down the five fundamental keys of successful investors to help you better navigate the path to achieving financial freedom and reaching your retirement goals. In the second half of the show, Wes takes a deep dive into one of the pillars: planning. Plus, Christa shares your #AskWes questions and Wes gives his take. All this and more on the January 7, 2025, Ask an Advisor episode. Submit your questions at https://clark.com/ask/. We hope you enjoy the first of our weekly Ask An Advisor episodes, with Christa and Wes going deeper on investing and retirement savings. Let us know what you think in the comments! 00:00 - Intro 03:50 - 5 Keys To Be a Successful Investor 05:22 - First: Stocks (Mostly) 07:23 - Second: Diversification 07:56 - Third: Patience and Longevity 09:20 - Fourth: Investing Is Easier and Harder Than Ever 10:26 - Fifth: Planning 12:29 - Ask an Investor: Management Fees Is a 1.41% management fee with Fidelity fair for a $400k 403(b) rollover? I’m retired, living off my pension, and not knowledgeable about investing. 16:22 - Ask an Investor: Fixed Income Without Social Security How should my husband and I allocate our retirement funds without Social Security, given we’re both state employees? We’re in our late 40s and have had bad experiences with annuities. 22:06 - Set a Course for Your Retirement 29:04 - Ask an Investor: RMDs I’m 69, retired with 403(b) and 457 plans. Should I convert investments now, or wait until I start RMDs at 73? I also have a small pension and SS. What’s the best way to invest leftover money? 31:50 - Ask an Investor: Portfolio Adjustments for Retirement I’ve been in the Vanguard Star Fund for 25 years in a Roth. I’m 3 years from retirement—should I keep this fund or look for alternatives? 36:19 - Ask an Investor: Diversified Investing & Expense Ratios I have 5 Vanguard funds with a total expense ratio of 0.39%. Should I consolidate or adjust my portfolio for long-term growth? Am I on the right track? Related resource https://clark.com/personal-finance-cr... Clark.com: Advice You Can Trust: SUBSCRIBE:    / clark   Listen To The Clark Howard Podcast: https://clark.com/podcast Apple Podcasts: https://podcasts.apple.com/us/podcast... Spotify: https://open.spotify.com/show/3lrwhe2... iHeartRadio: https://www.iheart.com/podcast/8-the-... Follow Us for More Money Tips: Website: https://clark.com/ Podcast: https://clark.com/podcasts/ Newsletter: https://clark.com/newsletters/ Instagram:   / theclarkdotcom   Facebook:   / clarkhoward   Need Consumer Advice? The Consumer Action Center is a free resource for advice on money and consumer issues. Call 636-49C-LARK (636-492-5275) and a member of Team Clark will assist you as soon as possible. The Consumer Action Center is available Monday-Friday from 10 a.m. to 4 p.m. ET. If you found this video valuable, give it a like. If you know someone who needs to see it, share it. Leave a comment below with your thoughts. Add it to a playlist if you want to watch it later. Our Promise to You: At Clark.com and ClarkDeals.com, we do not get paid for endorsements or reviews of any product or service, nor do we allow advertisers to place paid content on our sites. More information: https://clark.com/ad-disclosure/