Wes Moss Reveals the Secrets of a Happy Retirement to USA Today

USA Today sat down with our Chief Investment Strategist, Wes Moss, to ask him for the secrets to a happy retirement. Retirement columnist Rodney Brooks asked five key questions about Moss’s book You can Retire Sooner Thank You Think: The 5 Money Secrets of the Happiest Retirees.

From Moss’s USA Today Interview. Here are three of the most crucial tips that Moss pointed out.

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Tip #1: Financial

Tackle your mortgage. It’s such a critical component to all this. Happiness rises as years to pay off mortgage go down. Thus, tackling of the mortgage is really critical. There’ a lot of ways to do it. Pay it off in one fell swoop, if you can pay it off in non-retirement money. You can do it in one swoop, or by paying $100, $200, or $300 bucks a month extra. That can shave a full decade off a 30-year mortgage.

Even if they are 40, instead of being done by 70, they can be done by age 60 or 55. We all know that inherently, very few people put it into practice. But happy retirees do. Happy retirees get it. Happy retirees are four times more likely to have their mortgage paid off in five years or less.


Tip #2: Sources of Income

The level of income is important. The happy group has a larger number. The happy group has closer to three income sources while the lower-income group has less than two. Those sources are Social Security, pension, part-time work, rental income, other government benefits and then, a really important one is, investment income. Happier retirees have more income sources. Yes, they have more income, but it is the principal of diversification.


Tip #3: Core Pursuits

Busier retirees are happier. Core pursuits or hobbies on steroids. That would be like an avid golfer, avid hiker or an avid runner. They have core pursuits. Happy retires have 3.6 core hobbies, unhappy have less than two.


Read the full article in USA Today.