Wes Moss’s “Starting from Scratch”

Wes Moss ScratchI’ve listened to Wes Moss for years now. He’s the host of “Money Matters” on a local radio station, and he seems to be an approachable, common-sense guy. That tone serves him well when he writes, too. Previously, I reviewed his book on “You Can Retire Sooner Than You Think (Business Books),” and it is an excellent book on preparing for retirement. This is an earlier book, but the approach is similar in certain ways.

In this book on entrepreneurship, Moss discusses the best ways to begin a business, and he uses the acronym HUNT to explain the qualities and techniques used by successful business start ups. The H stands for “harness what you have” and the U stands for “underestimate obstacles.” Each of the sections of the book are grouped around a letter, so some of the stories illustrate the H, then some illustrate the U (but also rely on the H, of course.) Later stories deal with N “Notice your network” and finally T for “Take the first step.” Again, each of these is illustrated by several stories (21 or 22 in all, depending on when edition you read.)

The analysis of how to begin and nurture a business is just as common-sense as other Wes Moss’s writings, and the stories of each entrepreneur are short enough to allow quick reading, but in depth enough to realize that these people did what many want to do but can’t quite see the way forward. And, as the stats for success vs. failure in small business are a bit daunting, the stories are inspirational.

If you have ever wondered if you could begin a business, then this book should be a very welcome read. I quite enjoyed it, although I have many irons in the employment fire and no desire to begin yet another venture.


You Can Retire Sooner Than You Think— a book review

I’ve listened to Wes Moss for a few years now, but usually for just a few minutes at a time. His show, Money Matters, is on a local radio station on Sunday mornings, and I usually tune it in as I drive to church. More than once, however, I have sat in my van, in the parking lot, listening for just a few more minutes, because his show is interesting and his advice seems very sound.

So, after hearing him hawk it a few times, I downloaded the Kindle version of You Can Retire Sooner Than You Think, which has a somewhat misleading title. The subtitle is very much the point of the book, “The 5 Secrets of the Happiest Retirees.” And, as someone who is married to a guy contemplating an early retirement, I really wanted the book to be about the main title. Still, I found this an easy and interesting read. According the Amazon listing: 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 practices:

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

The retiring sooner part simply comes from the assertion that many folks who want a happy retirement belleve that a number of dollars, i.e. a million or two or even more, is the main way that retirees can leave the workforce. Instead, Moss uses his considerable research to point out that beyond a certain income that more is just more, but not a real factor in retirement bliss. He also includes the option of continued work, although scaled back, as something that modern retirees may want to use. Having known a number of people, mostly teachers, who have a full retirement from the state, and then just teach somewhere else, such as being an adjunct at the college level, I can attest to how well that can work.

His other points include how to manage the money you are putting aside for retirement, what to do in the years prior to retirement (such as paying down debt) and, perhaps most important, to have real interests to fill your time when you no longer work.

Some people do not want to retire. Cool. If a person is able, and wants to keep at it, then I think that is fine. But most of us have something else we want to do before we get too old and feeble, and Moss makes a good case for using multiple income streams to be able to fulfill those dreams. This is a good read, whether it affirms your game plan, motivates you to get your financial house in order, or helps you realize that you don’t need to be a multimillionaire to enjoy being retired.