Hanson McClain’s Money Matters

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The Changing Landscape of Retirement

On this week’s Hanson McClain’s Money Matters, Scott and Pat talk about the concept of retirement and how financial planning needs to fit into the new retirement. They also take several calls on everything from tax planning to retirement income planning.

Scott and Pat take a call from a man who wants to know what his withdrawal rate should be for a retirement account that is a discretionary fund. A woman who is 53, wants to know how she can go back to school, work and save for retirement. A woman’s husband is getting a $100,000 bonus, and she wants to know what they can do to reduce their tax burden. A man is planning to stop working in three years and wants to know if he should buy a retirement home in Reno, and then rent it out until he retires and sells his current home.

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Having Too Much Company Stock Can Be Risky

On this week’s Hanson McClain’s Money Matters, Scott and Pat talk about the potential risks that exist when an investor is overweighted in their company’s stock. They also take several calls and talk about how financial planning is a dynamic process that should evolve and change as an investor’s life changes.

Scott and Pat take a call from a man who wants to know if he should purchase a whole life insurance policy. A woman who has a $100,000 in a 401(k), wants to know if she should move the money to CD ladders to avoid risk. A caller’s mother has gifted her $14,000 and planned to gift her more money; the caller wants to know how much she can be gifted before she will owe taxes. A man who is 66 wants to know if he should take his Social Security or wait until his full retirement age at 70.

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Don’t Let the Fear of Missing Out Drive Your Investment Decisions

On this week’s Hanson McClain’s Money Matters, Scott and Pat talk about the mismanagement of retirement savings, and how the fear of missing out drives people to take on more risk than they should. They also take several calls on everything from Social Security to 401(K) management.

 

Scott and Pat take a call from a woman who previously worked in the private sector and is now interested in working for the federal government and wants to know if she would lose her Social Security benefits. A woman is calling on behalf of her husband and wants to know what to do about the limited options in his 401(k). A man has $60,000 in cash that he needs to keep semi-liquid and doesn’t want to take on much risk but wants to know where he should invest the money. A man who has several rental properties and wants to know if he should stop contributing to his 401(k) and only invest in real estate. A 60-year-old man who has a pension that nets about $1,000 a week after taxes and health care, wants to know if he should take Social Security at 62 or wait until his full retirement age.

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Social Security and Pension Planning

On this week’s Hanson McClain’s Money Matters, Scott and Pat take several calls about Social Security, before discussing how to plan for retirement when you have a pension.

Scott and Pat take a call from a man who wants to know how the talks of trade tariffs will affect his retirement. A 74-year-old man with a government pension wants to know if he is being short-changed on his Social Security benefits after working and paying into the fund for over 30 years. A caller, whose mother co-signed a student loan for her grandson just before she died, wants to know if the estate is still responsible for the loan. A 62-year old caller with an $80,000 a year pension is concerned that Social Security might not be around much longer. He wants to know if he should apply now or wait until later.

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Interest Rates and Real Estate Investing

On this week’s Hanson McClain’s Money Matters, Scott and Pat take several calls, then discuss the potential for continued interest rate increases and the pros and cons of investing in real estate.

Scott and Pat take a call from a 70-year old woman who needs to take a required minimum distribution and wants to know which of her retirement accounts she should draw down first. Next, a caller wants to know what Scott and Pat think about the financial writer Harry Dent Jr. Later, a caller whose husband in poor health must make some difficult pension decisions regarding future benefits. Lastly, a caller wants to know if his retirement account beneficiaries are legally protected and, if so, whether he still needs a living trust.

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Understanding What Might Be Lurking In Your Bond Portfolio

On this week’s Hanson McClain’s Money Matters, Scott and Pat take several calls and talk about what might be lurking in your bond portfolio and the importance of not putting your retirement in jeopardy for your child’s college education.

 

Scott and Pat take a call from a high school student who was accepted to Columbia University and the University of San Francisco and wants to know if she should take on more student loan debt to go to Columbia University. A caller purchased viaticals which are now in receivership and wants to know how long it will be before he gets his money back and if he can put the money back into his IRA once he gets it. A caller recently retired and wants to know what’s the best strategy for taking retirement distributions from his savings. Lastly, Scott and Pat welcome Hanson McClain advisor, Barbara Healy, who discusses a situation of a retired couple who wanted to down size and needed to know if they could afford the new home.

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Pension Decisions and Consolidating 401(k)s

On this week’s Hanson McClain’s Money Matters, Scott and Pat take several calls helping the callers to prepare for retirement.

 

Scott and Pat take a call from a man who wants a strategy to help him reduce his tax burden while paying for his second son to go to college. A caller has a pension and wants to know if he should take the lump sum or annuity to manage his retirement. A 58-year-old man wants to know what he should do with the money he has in multiple 401(k)s. A wife calls on behalf of her husband who inherited $70,000 and wants to know if CDs are the best option to invest the money with little to no risk. Lastly, Scott and Pat welcome Hanson McClain advisor, Dave Cox, who discusses a situation about a client that’s a high income earner and needed to determine when to take his RMD.

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The Problem with Annuities

On this week’s Hanson McClain’s Money Matters, Scott and Pat take several calls and talk about the problem with annuities, playing a voicemail they received from an annuity wholesaler.

 

Scott and Pat take a call from a woman who is 70 years old and wants to know how much money she should have in stocks versus bonds. A caller attended a living trust seminar and wants to know if he and his wife need one. A 59-year-old woman was laid off and wants to know if she should cash out her 401(k) and pay off her rental home and condo or sell the condo and move back to her rental home. Lastly, a caller wants to know if he should purchase long-term care insurance and if so what kind.

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The Role of a Fiduciary and the Importance of Retirement Planning

On this week’s Hanson McClain’s Money Matters, Scott and Pat talk about the role of a fiduciary and the importance of planning for retirement at least 3 years in advance.

 

Scott and Pat take a call from a federal employee who wants to know what’s the best way to handle his Thrift Savings Plan. A caller wants to know why there are hidden fees in his account when his advisor is supposed to be acting as a fiduciary. A couple recently sold their home and wanted to know if they should purchase a new home or continue to rent and invest the money from the sale of their home. Scott and Pat welcome Hanson McClain advisor, Pat Henry, who discusses a situation with a client who thought they couldn’t retire but determined that they could after completing the retirement planning process.

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Excess Returns and Interesting Tax Planning Strategies

On this week’s Hanson McClain’s Money Matters, Scott and Pat discuss excess returns and talk with Hanson McClain’s Chief Investment Officer about some interesting tax planning strategies.

 

Scott and Pat take a call from a man in Denver who wants to know if his wife, who is a teacher, should purchase additional years of benefits on her pension. A caller wants advice about a strategy a broker is pitching to his wife to move $15,000 from an old 401(k) to an annuity. A man inherited a 401(k) from his father and wants to know if he has to take RMD’s based on his father’s age. A caller lost a month of insurance coverage while changing from the affordable care program to Medicare and is now being penalized for not having coverage the entire year; he wants to know what he should do.  Scott and Pat welcome Hanson McClain advisor, David Schauer, who discusses a situation with a client that could be facing higher RMD’s when the new tax laws sunset.

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