08-11-26 Ask An Advisor With Wes Moss

August 11, 2026

AI Summary

5 min read

Ask an Advisor: The Psychology of Retirement Happiness and Spending

When Wes Moss asks his father about retirement spending, he gets a telling response: fear of running out of money trumps everything. That fear is so widespread that 64% of Americans say they fear running out of money more than death itself. Even among retirees with over $3 million saved, one in four still lists running out of money as their top financial concern. This creates what Moss calls an "epidemic of underspending" in retirement—a problem that sounds like a good problem to have, but one that quietly undermines the whole point of saving in the first place.

The Aristotle Version of Retirement Happiness

Moss distinguishes between two kinds of happiness. The first is hedonistic—the "weekend in Vegas" version built on pleasure and fun. The second, which he calls "eudaimonic happiness" after Aristotle, is about purpose, meaning, and alignment. That's the version Moss argues retirees should aim for, and it doesn't happen automatically.

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What you'll learn

1 (01:05) **Introduction: The Human Side of Retirement Planning** - Wes Moss returns to the studio to discuss the often-overlooked emotional and lifestyle planning needed for a happy retirement, beyond just the numbers.
2 (03:08) **Aristotle’s Definition of Happiness in Retirement** - Wes explains the difference between hedonistic happiness (pleasure) and eudaimonic happiness (purpose, meaning), arguing the latter is the real goal for retirees.
3 (09:53) **Listener Question: Should I Move If I’m Unhappy, Despite a Low Mortgage Rate?** - Emily in Virginia feels isolated and wants to move, but fears losing her 2.875% mortgage rate.
4 (13:39) **Listener Question: How to Diversify a Massive Single-Stock Position in an IRA** - Cheryl in California has 75% of her IRA in Apple stock (worth over $1.1M) and is torn between FOMO and fear.
5 (16:27) **Listener Question: Can I Retire at 55 Using the Rule of 55 Without Alerting My Employer?** - Anonymous in Georgia wants to know if their 401k plan allows penalty-free withdrawals at 55 without asking HR directly.
6 (21:47) **The Epidemic of Under-Spending in Retirement** - Wes dives into the widespread fear of running out of money, which leads many retirees to spend far less than they can afford.
7 (28:01) **Listener Question: Should I Move to Safer Funds Three Years Before Retirement?** - Lynn in Georgia is terrified of a market crash while her 401k is "killing it" and wants to reduce risk.

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Show Notes

Is Your Retirement Missing Purpose? & Why You Shouldn’t Be Scared To Spend Your Retirement Savings

Wes starts by looking at what ancient wisdom and modern research teach us about true fulfillment. As we leave the workforce, we often lose daily structure, active socialization, and full households all at once. To counter these major life headwinds, Wes discusses how planning your lifestyle goals even ten years out leads to significantly greater joy once you stop working. Also, Wes tackles the massive psychological barrier of spending down your hard-earned nest egg. Running out of money is the single biggest financial fear for most Americans. Wes shares the rule that offers an extremely high probability of success, giving you the confidence to stop worrying, start spending wisely, and enjoy the retirement you earned.

Mentioned on the show:

Plus, Christa shares your #AskWes questions and Wes gives his take. All this and more on the August 11, 2026, Ask an Advisor episode of the Clark Howard podcast. Submit your questions: WesMoss.com/ask

Discover the research-backed path to an earlier, happier retirement – pre-order The Retire Sooner Method by Wes Moss today at retiresoonermethod.com.

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