Most people focus on earning more, but the real secret to wealth is keeping what you already have. This week, we’re diving into the "silent killers" of your wallet — from investment fees that can sap 10 years of retirement savings to the "junk" charges you likely didn't even notice on your last statement.

Here’s what we’re covering in today’s Clark Smart Investing newsletter:

Building wealth has two sides. Most people focus on the obvious one: saving consistently, investing wisely and letting compound growth work over time. But there’s another side that gets far less attention: the quiet costs that chip away at your money year after year.

Fees, taxes, bad habits and small financial mistakes may seem minor in the moment, but over decades they can drain thousands of dollars from your wealth without you even noticing.

In the full article, we reveal the eight hidden costs currently eating away at your wealth and, more importantly, how to get rid of them.

Every week, we'll ask a new question to get your take on the latest financial trends and topics.

Last Week’s Poll Results

We asked: “Do you have a mortgage?” Here’s how you answered:

In this recurring Q&A, we share questions that have been answered by Clark Howard or Wes Moss on the podcast. Submit your question today!

Cody in Georgia: I recently received an inheritance of about $85,000, and I’m trying to figure out what the wise thing is to do with this money. I have no debt except the house and already put 15% of our household income into retirement. This amount is enough for me to pay off my house, but I have a historically low interest rate. What should I do?

Wes Moss says: While the math suggests keeping a low mortgage to chase higher market returns, the psychological freedom of being debt-free is often more valuable. Investing often feels uncertain -- whether markets are at all-time highs or significant lows -- but eliminating a mortgage puts you in a "financial green zone," a key pillar of a happy retirement. If this $85,000 inheritance represents a third or less of your liquid assets, paying off the house is a "no-brainer" move that provides a guaranteed win regardless of market volatility. Ultimately, the goal is to leverage that newfound cash flow; once the mortgage is gone, you can redirect those monthly payments back into the market via dollar-cost averaging. In years of planning, I’ve never had a single client regret the decision to get rid of their mortgage.

The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.

This information is provided to you as a resource for informational purposes only and is not to be viewed as investment advice or recommendations. Investing involves risk, including the possible loss of principal. There is no guarantee offered that investment return, yield, or performance will be achieved. This information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Any company names shown are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. The views and opinions expressed are for educational purposes only as of the date of production/writing and may change without notice at any time based on numerous factors, such as market or other conditions. Always consult your own legal, tax, or investment advisor before making any investment/tax/estate/financial planning considerations or decisions.