AI Summary
5 min readOn a recent episode of The Clark Howard Podcast, financial advisor Wes Moss shared a listener story about a retired couple who sold their house and moved onto a sailboat in the Caribbean. The couple described the life as a kind of "Sudoku for old people," where they serve as captain, mechanic, plumber, electrician, and weatherman all at once. Moss used the story as a springboard into a broader conversation about the psychology of retirement, the mechanics of friendship, and the real value of paying for financial advice.
The episode wove together three distinct threads: the time it actually takes to build a close friend later in life, the conditions under which a financial advisor is worth the cost, and several specific listener questions about portfolio rebalancing, mortgage payoff strategy, and buying individual Treasury bonds. The through-line was practical: these are not abstract financial concepts but concrete decisions about how to allocate time, money, and attention in a way that sustains both financial security and personal well-being.
The 200-Hour Rule for Close Friends
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What you'll learn
- 1 (01:08) **Show Introduction & Listener Story** - Wes and Krista return from a week off and kick off the episode.
- 2 (05:49) **The Time It Takes to Make a Close Friend** - New research from the University of Kansas on the hours required to build a real friendship.
- 3 (10:44) **Question 1: Diversification for a Retiring Teacher** - Sharon in California asks about her portfolio with a pension.
- 4 (13:49) **Question 2: Fidelity's Fully Paid Lending Program** - Explaining the pros and cons of allowing a broker to lend your shares.
- 5 (16:00) **Segment: Are Financial Advisors Worth It?** - A balanced discussion on when to hire help vs. DIY.
- 6 (25:18) **Question 3: Mortgage vs. Retirement for a Family** - Candace in California asks how to invest extra cash flow.
- 7 (29:38) **Question 4: Rebalancing During a Downturn** - Ron in Michigan asks about the discipline of buying stocks when markets fall.
+ Full timestamped outline available in the app
Guests on this episode
Show Notes
The 200-Hour Friendship Rule & Are Financial Advisors Worth It?
Making friends as an adult is harder than ever – but just how much time does it actually take to build a close friendship? In this episode, Wes Moss discusses the growing friendship gap in America and the surprising research behind forming meaningful connections. A study from the University of Kansas found that becoming a close friend takes far more intentional time than most people realize. Wes explains why friendships become more difficult to maintain as we age and what you can do to build and preserve strong relationships throughout life. Plus, are financial advisors really worth the cost? With about half of pre-retirees working with an advisor and half managing on their own, Wes breaks down who can benefit from professional financial guidance—and who may not need it. From investing and tax planning to estate and family considerations, learn when financial advice can add real value.
Mentioned on the show: Early Mortgage Payoff Calculator - Clark Howard
Plus, Christa shares your #AskWes questions and Wes gives his take. All this and more on the July 14, 2026, Ask an Advisor episode of the Clark Howard podcast. Submit your questions: WesMoss.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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