AI Summary
5 min readWes Moss, a financial advisor and author of The Retirement Method, opens this episode of the Clark Howard Podcast with a surprising statistic: there are roughly 3 million "Everywhere Millionaires" in America, and collectively they hold $65 trillion in net worth. These are not Silicon Valley founders or Wall Street traders. They are people who built wealth in low-tech, tactile businesses—hot dog stands, HVAC companies, gutter installations, auto parts shops. The poster child is Dick Portillo, who started a hot dog stand in the Midwest, grew it to a single location pulling in $9 million a year (double or triple a typical McDonald's), and eventually sold to Berkshire Partners for a fortune. Another example: Dave's Hot Chicken, launched in an L.A. parking lot with $900, sold 70% of the business eight years later at a $1 billion valuation. The point is not that everyone should start a food franchise. It is that the glamour of high-tech wealth obscures a massive, real economy where people are making extraordinary money in unglamorous work. Moss wants listeners—and his own four kids—to keep an open mind about careers that involve moving, bending, opening, and shutting things. The highest self-employed income in the country, he notes, is in Walker County, Alabama, averaging $1.9 million per return. The lesson: you do not need to be in tech to build serious wealth.
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What you'll learn
- 1 (01:39) **Everywhere Millionaires: Low-Tech Wealth in a High-Tech World** - Wes introduces the concept of "Everywhere Millionaires," highlighting wealth built outside of Silicon Valley and Wall Street.
- 2 (08:08) **Risk in Retirement: The Case for Balance Over Black-and-White** - Mark from Florida asks about the advice to stay 100% in stocks vs. reducing risk in retirement.
- 3 (10:55) **Maximizing Tax-Sheltered Savings for a High-Earning Young Professional** - Anonymous in Connecticut asks for advice for their 27-year-old daughter, a first-year associate earning $250k.
- 4 (13:50) **Lump Sum vs. Pension: When the Math Says One Thing, But Life Says Another** - Andy in Florida asks whether to take a $40k lump sum pension or a $278 monthly payment starting at 65.
- 5 (19:42) **Coast FI: The Appeal and the Danger of Taking Your Foot Off the Gas** - Wes discusses the popular Coast FI movement, warning against its potential naivety.
- 6 (23:48) **Using a Securities-Backed Line of Credit to Buy an Apartment** - Rodeon in New York asks about using a securities-backed line of credit (SBLOC) instead of a traditional mortgage.
- 7 (27:28) **Generating Income for ACA Subsidies: A Strategy for a Budding Content Creator** - Angela in Texas asks how her 28-year-old daughter can generate enough income to qualify for an ACA health insurance subsidy.
+ Full timestamped outline available in the app
Show Notes
How To Build Wealth Without a Tech Job & Hidden Dangers of Coast FI
Forget the myth that you have to work on Wall Street or in Silicon Valley to build massive wealth. Wes reveals the power of the "Everywhere Millionaires" – the 3 million Americans who have accumulated a collective $65 trillion by building unglamorous, low-tech, and non-tech businesses. Discover why tactile, essential industries are producing some of the richest entrepreneurs in the country (including a former hot dog stand owner who sold his business for $1 billion).
Then, Wes issues a crucial warning for young investors drawn to the Coast FI movement. While saving aggressively early in life is fantastic, relying solely on compound interest while taking your foot off the savings gas pedal in your 20s or 30s carries massive hidden risks. Wes explains why life’s unexpected variables mean you shouldn't step back from your financial goals too soon.
Mentioned on the show:
- Are You Well Invested? Here’s a 6-Point Check
- Backdoor Roth IRA: How High Earners Can Still Contribute
- How To Invest a Lump Sum or Cash You've Left Uninvested
- Pension vs Lump Sum Calculator - Clark Howard
- The Biggest Investing Lesson From Trump Accounts - Clark Howard
All this and more on the September 15, 2026, Ask an Advisor episode of the Clark Howard podcast. Submit your questions: WesMoss.com/ask
Discover the research-backed path to a happier retirement – order The Retire Sooner Method by Wes Moss today at retiresoonermethod.com
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