AI Summary
5 min readWes Moss, on this edition of Ask an Advisor from the Clark Howard Show, examines falling retirement confidence amid inflation pressures and fields listener questions on account choices, advisor types, trusts, bonds, and self-funding long-term care. Drawing from long-running studies like EBRI's annual survey and University of Michigan consumer sentiment, he highlights economic data trends and practical strategies for workers and retirees.
Retirement Confidence Trends
A new Employee Benefit Research Institute (EBRI) study, tracking responses since the 1990s, shows workers' confidence in having enough for a comfortable retirement dropping to 61%—down from 72% in 2021 and 67% last year. Retirees fare better at 73% confidence their money will last. Moss notes 40% still feel positive, countering narratives of retirement only for the wealthy.
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What you'll learn
- 1 (00:35) **Intro and Show Topics** - Hosts introduce retirement confidence plunge and advisor fiduciary confusion
- 2 (02:01) **Retirement Confidence Plunging** - EBRI study shows worker confidence dropping from 72% in 2021 to 61% now
- 3 (05:25) **Consumer Sentiment at Record Low** - U. Michigan index hits 47.6, lowest ever since 1976
- 4 (09:39) **Mike's 457 vs 401k Allocation** - 47yo in 24% bracket plans early retirement at 55 with pension
- 5 (12:33) **Nathan's Viva HRA for Retirement** - Wife's employer contributes $800/mo to portable Viva health account
- 6 (15:23) **Tanya's Stagnant Roth IRA** - 54yo seeks growth via target date funds or Fidelity Go
- 7 (21:53) **Fiduciary vs Non-Fiduciary Advisors** - Pepper analogy: bell (fiduciary/best interest) vs habanero (prudent/suitability)
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Show Notes
Why Retirement Confidence Is Plunging & Fiduciary vs. Financial Advisor
Wes Moss breaks down a troubling shift in the American economy: the rapid decline of retirement confidence. Drawing on three decades of data from the Employee Benefit Research Institute (EBRI), Wes highlights a staggering trend where worker confidence has dropped in 2026. This pessimistic outlook is mirrored by the University of Michigan Consumer Sentiment index, which has hit an all-time historical low. Wes identifies the primary culprit. Also, Wes tackles the crucial question of who you should trust to manage your money during these uncertain times. He demystifies the industry by comparing financial advisors to peppers in a grocery store: while they may look identical on the outside, their "heat" levels vary wildly. Wes discusses why transparency is key and provides actionable advice on how to check your advisor's contract to ensure your investments are working for you, not for your advisor's bottom line.
Mentioned on the show:
- WSJ - America’s Most Tortured Retirement Regulation Is Struck Down (Again)
- How To Find and Choose a Financial Advisor
- Best Financial Advisors in 2026 - Clark Howard
- What Is a Fiduciary Financial Advisor and Do I Need One?
- What Is an HSA Account and How Does It Work? - Clark Howard
Plus, Christa shares your #AskWes questions and Wes gives his take. All this and more on the April 28, 2026, Ask an Advisor episode of the Clark Howard podcast. Submit your questions at clark.com/ask.
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