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You Can Retire Sooner Than You Think: The 5 Money Secrets of the Happiest Retirees
From Wes Moss--named by Barron's as one of America's top financial advisors"The keys that Wes Moss identifies to having a happy retirement are simple but brilliant. Read this book." -- Clark Howard, #1 New York Times bestselling author of Living Large in Lean Times
“Financial planner Wes Moss offers you something different—not just a plan to retire, but a way to do it sooner and to be happy when you do." – Atlanta Journal Constitution
If you think you need to win the lottery or work until you’re 75 to retire with financial stability, Money Matters host Wes Moss has very good news for you. You Can Retire Sooner Than You Think reveals the secrets for ensuring a successful retirement—sooner rather than later.
After conducting an intensive study of happy retirees to learn the financial practices they hold in common, Moss discovered that it doesn't take financial genius, millions of dollars, or sophisticated investment skills to ensure a safe, solid retirement. All it takes is five best
Determine what you want and need your retirement money forFigure out how much you need to saveCreate a plan to pay off your mortgage in as little as five yearsDevelop an income stream from multiple sourcesBecome an income investorGetting on the fast track to a great retirement is a lot simpler than the retirement professionals would have you believe. You Can Retire Sooner Than You Think provides the proven-effective, five-step formula for creating the retirement of your dreams.
“Financial planner Wes Moss offers you something different—not just a plan to retire, but a way to do it sooner and to be happy when you do." – Atlanta Journal Constitution
If you think you need to win the lottery or work until you’re 75 to retire with financial stability, Money Matters host Wes Moss has very good news for you. You Can Retire Sooner Than You Think reveals the secrets for ensuring a successful retirement—sooner rather than later.
After conducting an intensive study of happy retirees to learn the financial practices they hold in common, Moss discovered that it doesn't take financial genius, millions of dollars, or sophisticated investment skills to ensure a safe, solid retirement. All it takes is five best
Determine what you want and need your retirement money forFigure out how much you need to saveCreate a plan to pay off your mortgage in as little as five yearsDevelop an income stream from multiple sourcesBecome an income investorGetting on the fast track to a great retirement is a lot simpler than the retirement professionals would have you believe. You Can Retire Sooner Than You Think provides the proven-effective, five-step formula for creating the retirement of your dreams.
289 pages, Kindle Edition
First published May 13, 2014
196 people are currently reading
476 people want to read
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Displaying 1 - 30 of 67 reviews
September 19, 2014
Liked the discussion on the $240,000 principle. It gave me a clearer picture for how long money can last and the impact of rates of return.
Also enjoyed the happiness factors outside of money.
Not sure I agree on reading, fishing and hunting as being unhappy habits, but I get what he was trying to say about being out with people.
I am surprised that being creative didn't show up. To me thinking of the next project I'm going to do and all the ones I want to do in the future really keeps me going and looking forward to life.
Also enjoyed the happiness factors outside of money.
Not sure I agree on reading, fishing and hunting as being unhappy habits, but I get what he was trying to say about being out with people.
I am surprised that being creative didn't show up. To me thinking of the next project I'm going to do and all the ones I want to do in the future really keeps me going and looking forward to life.
June 4, 2014
This book caught my attention because I work in the retirement planning industry and talk with members of group retirement plans all the time. I was curious as to how the author was going to help people retire sooner ... because who wouldn't want to?!
The book is made up of four parts:
1. The happy retiree basics - who are the happy retirees and what makes them happy, what makes retirees unhappy and how you can avoid it, and can you really retire sooner than you think
2. The 5 money secrets of happy retirees - determining what you want and need your retirement money for, use this formula to figure out how much money you need to have saved before you retire, formulate a plan to pay off your mortgage in no more than five years, develop an income stream from 3 or 4 sources, and become an income investor
3. Minimizing risk in your investment portfolio - how risky can you e, avoid the major pitfalls of investing
4. Enjoying the rest of your life - hobbies, recreation, vacations and so much more
The results of this book came from a survey the author conducted of more than 1,350 retirees in the U.S. and here are some of the results:
* Pre-retirement salaries during the peak earning years of about $98,000/year in household income, though there seemed to be a lot of earners with $150,000+/year
* Retirement income which averaged almost $88,000/year
* Average spending level of $53,000/year
* Retirement assets of at least $500,000 in liquid net worth
* Take at least two vacations a year
* Hate fast food and love steak (so eat in "nice" restaurants)
From my experience, I don't think he had a good representation of the average person, though, so it would be hard to follow the practices of this book for most.
What I did like was the "warm and fuzzy" advice in the book like having a sense of purpose in life and having core pursuits (something you are passionate about) in retirement.
I found this book to be too high level at times so wouldn't recommend it as a basic book for most if they are looking for guidance on planning for their retirement.
Blog review post: http://www.teenaintoronto.com/2014/06...
The book is made up of four parts:
1. The happy retiree basics - who are the happy retirees and what makes them happy, what makes retirees unhappy and how you can avoid it, and can you really retire sooner than you think
2. The 5 money secrets of happy retirees - determining what you want and need your retirement money for, use this formula to figure out how much money you need to have saved before you retire, formulate a plan to pay off your mortgage in no more than five years, develop an income stream from 3 or 4 sources, and become an income investor
3. Minimizing risk in your investment portfolio - how risky can you e, avoid the major pitfalls of investing
4. Enjoying the rest of your life - hobbies, recreation, vacations and so much more
The results of this book came from a survey the author conducted of more than 1,350 retirees in the U.S. and here are some of the results:
* Pre-retirement salaries during the peak earning years of about $98,000/year in household income, though there seemed to be a lot of earners with $150,000+/year
* Retirement income which averaged almost $88,000/year
* Average spending level of $53,000/year
* Retirement assets of at least $500,000 in liquid net worth
* Take at least two vacations a year
* Hate fast food and love steak (so eat in "nice" restaurants)
From my experience, I don't think he had a good representation of the average person, though, so it would be hard to follow the practices of this book for most.
What I did like was the "warm and fuzzy" advice in the book like having a sense of purpose in life and having core pursuits (something you are passionate about) in retirement.
I found this book to be too high level at times so wouldn't recommend it as a basic book for most if they are looking for guidance on planning for their retirement.
Blog review post: http://www.teenaintoronto.com/2014/06...
August 16, 2018
I retired 6 yrs. ago at 55... I am VERY HAPPY, and this book describes ME & many of the techniques I used & still use, without Moss's excellent guide map.
To the naysaying reviewers of this book, I ask.... are YOU a happy retiree yet? Don't knock Moss's advice until you've tried it.
To the author, don't knock my reading hobby, it's how I found your book.
Hasta pasta!
To the naysaying reviewers of this book, I ask.... are YOU a happy retiree yet? Don't knock Moss's advice until you've tried it.
To the author, don't knock my reading hobby, it's how I found your book.
Hasta pasta!
February 17, 2023
2nd book I read by this optimistic author.
sound advice for a specific audience and explains investments in terms for laypeople.
I couldn't help but be concerned about the majority of families who don't fall into the income bracket or family situations he deems necessary for retirement. I became distracted as I read and felt guilty about the disparity of wage earners, housing costs, and the people who will not be able to retire.
sound advice for a specific audience and explains investments in terms for laypeople.
I couldn't help but be concerned about the majority of families who don't fall into the income bracket or family situations he deems necessary for retirement. I became distracted as I read and felt guilty about the disparity of wage earners, housing costs, and the people who will not be able to retire.
November 18, 2017
This is the clearest retirement planning book that I have read, not counting the investment bucket chapters. I let my company advisors decide that. The $240,000 rule and the multiple streams of income sections were good. The cut-offs for happiness by income were also useful. I feel better about retiring before 70 if I have to.
December 2, 2017
You Can Retire Sooner Than You Think: The 5 Money Secrets of the Happiest Retirees by Wes Moss is a finance book from the perspective that you need to be happy as well, not just well off. Mr. Moss is a financial planner, an investment strategist and a host of the popular radio show Money Matters.
Even though I’m very late to the game (I save but I actually gave up hope of completely retiring) I still like to read financial books, not only for myself but only so I’ll be able to educate my children who will hopefully no repeat the same mistakes. So when I chose You Can Retire Sooner Than You Think: The 5 Money Secrets of the Happiest Retirees by Wes Moss I knew that most of it will probably be a repeat of what I read before, but if I pick up one thing from it, the read would have been worth it.
I learned a few things from this book, which is great. This is a well rounded book, certainly not the end all financial bible, but certainly a very helpful guide and full of good ideas and approaches. Best of all, this book makes you think and even plan. I especially liked the aspect of happiness, something which is most important but you don’t see many financial advisors talk about it – it’s almost as if it’s understood, but it’s not.
The five best practices Mr. Moss goes over are:
Determine what you want and need your retirement money for
Figure out how much you need to save
Create a plan to pay off your mortgage in as little as five years
Develop an income stream from multiple sources
Become an income investor
There isn’t anything specifically unique to this book, but his approach of how to look at them and why you need to act upon them immediately is certainly food for thought.
Mr. Moss has a different perspective on retiring, he wants you to be happy. While he certainly agrees that money buys some happiness, there is a certain threshold which you become happy and more money doesn’t help.
For more reviews and bookish posts please visit: http://www.ManOfLaBook.com
Even though I’m very late to the game (I save but I actually gave up hope of completely retiring) I still like to read financial books, not only for myself but only so I’ll be able to educate my children who will hopefully no repeat the same mistakes. So when I chose You Can Retire Sooner Than You Think: The 5 Money Secrets of the Happiest Retirees by Wes Moss I knew that most of it will probably be a repeat of what I read before, but if I pick up one thing from it, the read would have been worth it.
I learned a few things from this book, which is great. This is a well rounded book, certainly not the end all financial bible, but certainly a very helpful guide and full of good ideas and approaches. Best of all, this book makes you think and even plan. I especially liked the aspect of happiness, something which is most important but you don’t see many financial advisors talk about it – it’s almost as if it’s understood, but it’s not.
The five best practices Mr. Moss goes over are:
Determine what you want and need your retirement money for
Figure out how much you need to save
Create a plan to pay off your mortgage in as little as five years
Develop an income stream from multiple sources
Become an income investor
There isn’t anything specifically unique to this book, but his approach of how to look at them and why you need to act upon them immediately is certainly food for thought.
Mr. Moss has a different perspective on retiring, he wants you to be happy. While he certainly agrees that money buys some happiness, there is a certain threshold which you become happy and more money doesn’t help.
For more reviews and bookish posts please visit: http://www.ManOfLaBook.com
February 11, 2020
This book started off really intriguing. The 5 money secrets seemed reasonable:
1) determine what you want and need your retirement money for (it was great reading about individuals pursuing what made them happy and doing the exercise of writing 20 wildest things you've ever wanted to do-which I plan on doing each birthday, only I will circle the five that I want to complete before the following birthday)
2) figure out how much money you need to save before you retire (a bit oversimplified, but still solid at explaining how important it is to plan and estimate)
3) pay off your mortgage in as little as five years (some valid arguments)
4) develop an income stream from three or four sources, not just one (I was expecting more than just part-time work, social security, pension income, rental income, and investment income-however, it's scary to think that some people just rely on one source for their retirement years)
5) become an income investor (he made this way too complicated-his bucket explanation and pictures reminded me of mass balances in the one chemical engineering class I took.
His sections on income investing could have been a lot simpler. it could be possible he was expecting people to reach out to him for more advice or to ask for his help setting up what he tried portraying. Some of the happiest traits of happy retirees were interesting, but I think his sample size needs to be a bit larger before making any generalizations.
1) determine what you want and need your retirement money for (it was great reading about individuals pursuing what made them happy and doing the exercise of writing 20 wildest things you've ever wanted to do-which I plan on doing each birthday, only I will circle the five that I want to complete before the following birthday)
2) figure out how much money you need to save before you retire (a bit oversimplified, but still solid at explaining how important it is to plan and estimate)
3) pay off your mortgage in as little as five years (some valid arguments)
4) develop an income stream from three or four sources, not just one (I was expecting more than just part-time work, social security, pension income, rental income, and investment income-however, it's scary to think that some people just rely on one source for their retirement years)
5) become an income investor (he made this way too complicated-his bucket explanation and pictures reminded me of mass balances in the one chemical engineering class I took.
His sections on income investing could have been a lot simpler. it could be possible he was expecting people to reach out to him for more advice or to ask for his help setting up what he tried portraying. Some of the happiest traits of happy retirees were interesting, but I think his sample size needs to be a bit larger before making any generalizations.
April 26, 2021
My financial advisor spoke about this book in our last meeting. I have to say - I like Wes Moss’s advice better! 😂
I like that this book focused on the “happy” aspect of retirement and not on saving buckets of money just because. The example households through out are diverse enough, money wise, to get an idea of how this works but it definitely seems to work better for people making 100,000 a year (ie: not me). Still, I feel like I have a better understanding of what I need to do in order to be ready to retire - early or not.
I like that this book focused on the “happy” aspect of retirement and not on saving buckets of money just because. The example households through out are diverse enough, money wise, to get an idea of how this works but it definitely seems to work better for people making 100,000 a year (ie: not me). Still, I feel like I have a better understanding of what I need to do in order to be ready to retire - early or not.
May 20, 2016
Another good perspective
I think a lot of the investing advice might be considered aggressive and risky by most. It still makes sense to me to dial back risk as you get close. The advisors and finance rags all seem to be advocating a bigger position in stocks. I wonder why? Because that's where they make their cut. Same people that said refinancing and ARMs were a good idea back in 2006? Anyway, good book, encouraging and fun read.
I think a lot of the investing advice might be considered aggressive and risky by most. It still makes sense to me to dial back risk as you get close. The advisors and finance rags all seem to be advocating a bigger position in stocks. I wonder why? Because that's where they make their cut. Same people that said refinancing and ARMs were a good idea back in 2006? Anyway, good book, encouraging and fun read.
February 18, 2019
Easy to read and understand. What a unique approach - analyzing data of retirees that rate themselves on a 'happy in retirement' survey and then identifying those things that correlate with the happiest of retirees. For young (start NOW!) and old (you can still make some good moves), I'd recommend this read.
August 18, 2021
Good concepts and clearly written. I am wondering if the author is still promoting the 5% safe withdrawal rate. Also, in my opinion, the sections where he talks about income streams from investments averaging in the 4%-5% range seem a little outdated in todays ultra low interest rate environment (2021). Overall I did really enjoy the book.
March 7, 2021
Money doesn't make happiness. Outside interests make happiness. Those are the core ideas behind Moss's very sensible and unique approach to retirement. I finally feel somewhat ready to retire!
October 8, 2022
There is some good advice in this book about generating enough cash to be able to retire. If you want to retire without enough saved assets to live off of (i.e. before social security and pensions kick in), you will need to have assets that produce income so you can live on that income stream. Accordingly, Moss recommends bonds, stocks that pay dividends, and real estate. He has good advice about having a plan about what to retire to (i.e., what will you do with your time when you aren't working) so that just quitting working is not an end in itself.
Also note this was written in 2014. The 2022 financial world, with high inflation and high rents, is not factored in.
I have a few nitpicks with his philosophy. I was a financial planner early in my career, so I know a little bit about this.
1. Individual investors with lower net worth (generally below $500K to $1 million) should not be messing around with individual stocks. It is way too much risk for most people. Try some decent no-load mutual funds
2. He speaks highly of real estate investments and how many people enjoy being landlords. Well, fixing someone else's toilet is not my idea of a fun retirement.
3. One of the main income streams he advocates for is part time work. OK, but that isn't really retirement.
4. He confuses correlation with causation. He did research among retirees to see who was happy and who was not, then looked at their lifestyles and compared them. So he comes up with howlers like, "If you want to know what the unhappy retirees are driving (so you can avoid their fate), you should familiarize yourself with the Unhappy Cars: Chrysler, Dodge, Kia, Mercury, and BMW."
Still, any book that says--"live simply and save a lot" has the bulk of retirement advice correct!
Also note this was written in 2014. The 2022 financial world, with high inflation and high rents, is not factored in.
I have a few nitpicks with his philosophy. I was a financial planner early in my career, so I know a little bit about this.
1. Individual investors with lower net worth (generally below $500K to $1 million) should not be messing around with individual stocks. It is way too much risk for most people. Try some decent no-load mutual funds
2. He speaks highly of real estate investments and how many people enjoy being landlords. Well, fixing someone else's toilet is not my idea of a fun retirement.
3. One of the main income streams he advocates for is part time work. OK, but that isn't really retirement.
4. He confuses correlation with causation. He did research among retirees to see who was happy and who was not, then looked at their lifestyles and compared them. So he comes up with howlers like, "If you want to know what the unhappy retirees are driving (so you can avoid their fate), you should familiarize yourself with the Unhappy Cars: Chrysler, Dodge, Kia, Mercury, and BMW."
Still, any book that says--"live simply and save a lot" has the bulk of retirement advice correct!
December 24, 2017
I thought this book was a good mix of the number crunching and life choices involved in retirement planning. Wes Moss uses his clients as examples to illustrate his points. I think it's very effective and gives you concrete examples which many people can relate to. My husband and I are now in our fifties and retirement is right around the corner for us. We have been saving money in our retirement accounts for several years now and keeping track of their values. However, this book made me also think about what we want to do after retirement, what Wes calls "core pursuits". Until I read this book, I was so focused on the numbers of retirement that I hadn't considered what we wanted to do with all the money we were saving.
August 27, 2022
Focuses on income investing as the decumulation strategy. Uses lots of data to show who is happy and unhappy in retirement. Good suggestions for how to be happy in retirement but not enough information on the specifics of getting there financially.
Basic premise: one must have at least $500,000 in investments and have 3 core pursuits (all of which require interaction with people) in order to be happy in retirement. I'm not a fan of books that use the data to tell a story since it so often leaves out the human element. Nevertheless, a decent book to read if you're interested in thinking about and planning your own retirement.
Basic premise: one must have at least $500,000 in investments and have 3 core pursuits (all of which require interaction with people) in order to be happy in retirement. I'm not a fan of books that use the data to tell a story since it so often leaves out the human element. Nevertheless, a decent book to read if you're interested in thinking about and planning your own retirement.
June 14, 2024
Honestly I didn’t finish the last parts of the book. The author lost me when he started talking about investment since I’m really new to this field and know nothing about it. But I really enjoyed the first few chapters. They were easy to follow and understand. The best part I learned from this book is that the relationship between happiness and money is not proportional, and you need to have core pursuits in your life in order to achieve real happiness. For now, I will start developing my hobbies and finding my own pursuits. In the meantime, I will start taking courses about economy in the hope that I will understand more about investing.
August 2, 2022
Too late! Already done.
The best part of the book featured survey results of the most and least happy respondents.
the happiest retirees had multiple income streams and an active social life.
the least happy owned BMWs, limited income streams and pursued activities of a singular approach (eg reading, hunting, fishing, etc.).
The book lacked any analysis or factoring for long term medical health care...big gap imo.
otherwise, easy to read and good stories from other retirees.
The best part of the book featured survey results of the most and least happy respondents.
the happiest retirees had multiple income streams and an active social life.
the least happy owned BMWs, limited income streams and pursued activities of a singular approach (eg reading, hunting, fishing, etc.).
The book lacked any analysis or factoring for long term medical health care...big gap imo.
otherwise, easy to read and good stories from other retirees.
March 19, 2023
Skims the Surface
This book just skims the topics related to financial preparation to retire (earlier). Even though earlier is nebulous and completely subjective to your own estimate of when you think you can retire. The most practical parts of the book are those that talk about the factors that contribute to a HAPPY retirement. Travel, volunteer work, socializing…having core pursuits to occupy your time once you are financially able to retire.
This book just skims the topics related to financial preparation to retire (earlier). Even though earlier is nebulous and completely subjective to your own estimate of when you think you can retire. The most practical parts of the book are those that talk about the factors that contribute to a HAPPY retirement. Travel, volunteer work, socializing…having core pursuits to occupy your time once you are financially able to retire.
September 22, 2020
The author is definitely an expert of his field and this book is probably gospel for some people, BUT, I don’t prescribe to how he believes you should live your life financially - save save save every penny until you can retire. I employ many of his tips, but not to the extreme lengths that he discusses.
January 26, 2021
Solid retirement planning book. I enjoyed reading. No doubt by following Mr Moss' principles, a couple can attain a comfortable and happy retirement. Also it's never too early to start planning for retirement - life passes fast especially with kids activities scheduled for most nights. So yes, I do recommend any working person or couple devour this book.
February 8, 2021
Something I liked about this book is it focused first on happiness in retirement and not on money. I liked the advice about getting exercise, being social, and having hobbies you are passionate about in retirement (“core pursuits”). I think most of the financial advice was oversimplified though, and the language was very colloquial which gave me doubts about the credibility of the advice.
August 22, 2018
Very Informative book about retirement needs
A very informative and easy to understand book about retirement needs. It covers both the emotional and financial needs of being a happy retiree.
A very informative and easy to understand book about retirement needs. It covers both the emotional and financial needs of being a happy retiree.
January 13, 2020
Excellent Read. Opened ideas and gave me several items to research . Following these guidelines it is possible to retire sooner then expected.
Exciting knowledge transfer and opening of exciting new opportunities.
Exciting knowledge transfer and opening of exciting new opportunities.
September 13, 2017
Some good ideas, but nothing that I found very original. The income "buckets" concept seemed overly complicated to implement. There are simpler ways to achieve the same results.
January 19, 2018
Easy to read & understand. 5 "money secrets" (not really) "happy" retirees used. A book I would go back & read again/skim through once more-esp. the last chapter on investing/accounts.
July 14, 2018
Great tips on retiring early AND happy. Some advice I've heard before, but Wes Moss puts a new spin on a few things.
February 8, 2019
Buy Lexus!
December 10, 2019
Highly readable with clear and concise explanations and guidelines.
July 12, 2020
Good book. Plain simple strategies to prepare for retirement.
August 16, 2020
Excellent. Follow the steps in this book for a successful retirement.
Displaying 1 - 30 of 67 reviews