AI Summary
5 min read"Rich isn't about the income, it's about the margin." That line from financial advisor Wes Moss captures the central idea of this episode of the Clark Howard Podcast. In a conversation with co-host Krista DeBias, Moss walks through listener questions on international stocks, rebalancing, and the one retirement number he says still matters in 2026: the "rich ratio." The episode is grounded in behavioral psychology, practical mechanics, and a calm skepticism toward financial headlines.
The Recency Bias Trap in International Stocks
Moss opens by addressing a surge of listener questions about international stocks. The trigger is performance: over the past year, a broad international ETF returned roughly 36%, while the S&P 500 returned about 16%. That 20-point gap naturally makes investors wonder whether they should shift more money overseas. Moss warns that this is a textbook case of recency bias — the human tendency to assume whatever has just done well will keep doing well. "We are the best extrapolators," he says. "If something's outperforming by 20% a year, our brains are saying, well, isn't it going to continue?"
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What you'll learn
- 1 (00:38) **Episode Introduction** - Krista Debias and Wes Moss preview the topics: international vs. domestic stocks, listener questions, and the one retirement number that still matters.
- 2 (01:35) **International vs. Domestic Stocks: The Recency Bias Trap** - Wes explains why the recent surge in international stocks doesn't mean you should abandon your allocation plan.
- 3 (05:17) **The Dollar's "Reign" and Your Portfolio** - Wes addresses fears about the US dollar losing reserve status and what that means for your investments.
- 4 (08:44) **The "Hidden" International Exposure in Your US Stocks** - Before shifting to international funds, check your US holdings for global revenue.
- 5 (10:08) **Listener Question: "Glad I Missed Out" Gladys vs. FOMO Freddie** - Gary in Nevada asks about the investor who piles into last year's losers.
- 6 (13:18) **Listener Question: Are Retirement Statistics Misleading?** - Steve in Wisconsin questions the value of average 401(k) balance stats.
- 7 (17:20) **Listener Question: Non-Deductible IRA vs. Brokerage Account** - Mike in Ohio asks if ChatGPT's advice to stop funding a non-deductible IRA is correct.
+ Full timestamped outline available in the app
Guests on this episode
Show Notes
Should You Dump U.S. Stocks for International? & Top Retirement Number To Watch in 2026
With international stocks outperforming the S&P 500 recently, many investors are asking the same question: Is it time to pivot overseas? Before you overhaul your portfolio, learn why you might already have more international exposure than you think. Also, Wes revisits the most important metric for your financial peace of mind in 2026: The Rich Ratio. Retirement isn't about the total size of your nest egg; it’s about the "margin" between what you have and what you need. We explain how to calculate your ratio in under 60 seconds and why "financial richness" is often achieved more quickly by lowering your "needs"—specifically by tackling "big rocks" like your mortgage. Whether your ratio is currently above or below 1.0, this simple math will provide a clear roadmap for your retirement security.
Mentioned on the show:
- A Better Way To Think About Your Net Worth
- Backdoor Roth IRA: How High Earners Can Still Contribute
- Are You Richer Than You Think? Your "Rich Ratio" Could Tell You
Plus, Christa shares your #AskWes questions and Wes gives his take. All this and more on the March 10, 2026, Ask an Advisor episode of the Clark Howard podcast. Submit your questions at clark.com/ask.
We hope you enjoy our weekly Ask An Advisor episodes. Let us know what you think in the comments!
Learn more about Wes:
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