Wes Moss was recently featured in Barron’s during a Q&A discussion around tips and criteria for early retirement.
Moss insists that if you haven’t seen the light at the end of your career tunnel yet, you need to take a second look. Most investors can retire earlier than they think, even in today’s uncertain times, says Moss, the author of three personal-finance books and host of the Money Matters weekly radio call-in show. His firm manages about $3 billion for clients with wealth ranging from $1 million to $5 million.
Here is a preview of the Q&A discussion between Moss and Barron’s.
Barron’s: Are there certain criteria investors should meet to retire early?
Wes Moss: They should have a certain liquid asset level, a mostly paid-off mortgage, and multiple streams of income. But if you have several years until a pension kicks in, or it’s too early to tap assets, you have an important financial-planning arrow in your quiver: going from a full-time high-earning job into what I call the retirement gray zone where you downshift your job, but still make enough to avoid dipping into savings.
What are your clients’ biggest concerns?
The focus has shifted to the election. People are very nervous about tax rates. We have clients on both sides, but there is more nervousness among conservatives. I remind my clients and listeners that the economy is made up of millions of hardworking people and no matter who is in the White House, they still have the same motivation to grow their business. Regardless, the economy is going to move forward.
What’s your stock market outlook, and what tactical allocations are you recommending?
We still believe that U.S. equities are best in class relative to the rest of the world, and an economic rebound in the U.S. during 2021 could surprise to the upside. The gargantuan tech companies have led the market, and the average company has still struggled. We are now scaling back on technology companies relative to normal times.
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