Wes Moss Says Purpose Gap and Shrinking Social Circles Pose Biggest Retirement Risks
Retirement expert Wes Moss argues that a lack of purpose and a decline in friendships are major threats to well-being in later life, especially for people over 60. He says these problems have grown even as U.S. household net worth has risen, and that a larger portfolio alone does not solve them. Moss recommends maintaining multiple hobbies and choosing activities that naturally involve other people.
Moss, a retirement author and radio host, describes a lack of purpose and a decline in friendships as expanding problems that disproportionately affect people 60 and older. Although U.S. net worth climbed from about $90 trillion in 2016 to roughly $190 trillion, these challenges still worsened, suggesting wealth alone does not resolve them.
His research finds retiree happiness rises with investable assets past $1 million and into the $3 million-plus range before flattening. Happy retirees keep five or more core hobbies and devote about two hours and forty minutes daily to them; unhappy retirees have four or fewer and spend about one hour and fifty minutes. Unhappy retirees are also 60% more likely to live alone.
As more Americans reach 65, Moss's framing may shift retirement planning beyond portfolios toward social connection and structured activity. People over 60, including those with substantial savings, could face isolation and loss of purpose if they lack hobbies and friendships. Families and community groups may feel pressure to create accessible group activities, while financial advisers could broaden conversations to include purpose and social engagement.