Allworth Financial’s Money Matters

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Financial products for aging Americans

On this week’s Money Matters, Scott and Pat discuss the reasons why some advisors target aging Americans to buy unnecessary financial products. 

Scott and Pat advise a man in Somerset who is helping his mother protect the proceeds from her home sale. A man in Northern California asks how he should plan for his Social Security benefit. A caller asks how she can determine the value of a property’s mineral rights. Finally, a man who saved $500,000 asks if he should sell his rental to pay off his primary mortgage.

Ask a question by clicking here, or email Scott and Pat at questions@moneymatters.com.

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Is your financial advisor a full-time fiduciary?

On this week’s Money Matters, Scott and Pat discuss the allegations surrounding a well-known financial advisor who called himself a fiduciary and potentially hid his conflicts of interest. They also talk about the SECURE Act’s passage and what it means for your retirement.

Scott and Pat advise a mother trying to save $100,000 for her children’s college education. A caller asks if he can cash out his pension early. Finally, a New Jersey business owner asks if he should prioritize saving in a traditional or Roth 401(K).

Ask a question by clicking here, or email Scott and Pat at questions@moneymatters.com

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Become and remain financially independent

On this week’s Money Matters, Scott and Pat discuss the steps that you need to take to become financially independent.

Scott and Pat advise a woman, with $400,000 in taxable accounts, who is considering opening a 401(k). A man in Northern California making $400,000, with $600,000 saved, asks what he needs to do to have a comfortable retirement. Finally, an Atlanta caller asks if he should prioritize his Roth or traditional accounts.

Ask a question by clicking here, or email Scott and Pat at questions@moneymatters.com.

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Financial New Year’s Resolutions

On this week’s Money Matters, Scott and Pat provide examples of how you can improve your finances in 2020.

Scott and Pat advise a Bay Area woman considering her Social Security options as a non-working spouse. A caller asks if she can roll her 401(k) into a Roth account. A man in Indiana with $44,000 in debt asks how he should prioritize his payments. A man with $200,000 in family income asks where he should save more.

Ask a question by clicking here, or email Scott and Pat at questions@moneymatters.com.

Download and rate our podcast here.

When should you consider a Roth conversion?

On this week’s Money Matters, Scott and Pat discuss why $1.8 billion may disappear in a private placement investment.

Scott and Pat advise a caller with $360,000 in his IRAs who’s considering a Roth conversion. A 68-year-old woman asks if she should continue delaying her Social Security benefit. A retired Navy veteran asks where he should prioritize his saving. Scott and Pat speak with a man who saved $1.5 million and is concerned that he missed the Roth conversion window. Finally, a Vermont caller asks if his Social Security benefit will be “means-tested.”

Ask a question by clicking here, or email Scott and Pat at questions@moneymatters.com.

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End-of-year tax planning

On this week’s Money Matters, Michael Mouriski, CPA and Vice President of Tax Solutions at Allworth Financial, joins Scott and Pat to discuss tax planning strategies for the end of the year.

Scott and Pat advise a Colorado caller looking to consolidate his four investment accounts. Also, a retiree in Lodi asks if he should pay down the mortgages on his rental properties with some of the $750,000 saved in his IRA.

Ask a question by clicking here, or email Scott and Pat at questions@moneymatters.com

Download and rate our podcast here.

Put your power of attorney and advance healthcare directives in place.

On this week’s Money Matters, Scott and Pat discuss the importance of having difficult financial conversations. They also talk about your options with a Thrift Savings Plan in a podcast exclusive segment.

Scott and Pat advise a caller in Northern California, with $1.6 million saved who wants to know where to place her RMD. A man planning for Social Security asks if his calculation is accurate. A 26-year-old caller in South Dakota wants to establish credit but doesn’t know how. Finally, a Sacramento man facing a civil lawsuit asks how he can protect his assets.

Ask a question by clicking here, or email Scott and Pat at questions@moneymatters.com

Download and rate our podcast here.

If you are a high earner, take Social Security ASAP.

On this week’s Money Matters, Pat and Allworth advisor David Schauer discuss why high earners should take Social Security sooner rather than later. In a podcast exclusive segment, they discuss how your risk tolerance can change your investment strategy.

Pat and David advise a janitor who saved $460,000 and wants to gift all of his assets to charity. A Nevada man asks if he should take a higher distribution from his investments. A caller with $2 million asks if his investments can generate more income. Pat and David advise a Denver man looking for a safe, short-term investment. Finally, a woman expecting $150,000 asks how she should invest.

Ask a question by clicking here, or email Scott and Pat at questions@moneymatters.com

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Where do bonds fit in your savings?

On this week’s Allworth’s Money Matters, Pat and Allworth advisor David Schauer discuss how you can use bonds in a low interest rate environment.

Pat and David advise a California woman who gained $1 million from a home sale. A government worker, who owes $316,000 on a mortgage and student loans, asks if he should prioritize his debt or retirement savings. A man with $200,000 in family income asks if he should fund a new IRA. Pat and David advise a property owner trying to defer his capital gains taxes. Finally, a caller asks if he should buy more bonds. 

Ask a question by clicking here, or email Scott and Pat at questions@moneymatters.com.

Download and rate our podcast here.

The broken promises of indexed annuities.

On this week’s Allworth’s Money Matters, Pat and Allworth advisor David Schauer discuss the mechanics of indexed annuities, and why the broken promises of one insurance company led to a significant lawsuit.

Pat and David advise a California woman looking to leave her IRA savings to her loved ones. A man who owes $212,000 on his house asks if he should prioritize his mortgage or retirement saving. Pat and David speak with a San Antonio caller who is concerned about China’s impact on his investments. Finally, a man making $160,000 a year asks how he should maximize his savings.

Ask a question by clicking here, or email Scott and Pat at questions@moneymatters.com.

Download and rate our podcast here.