Hanson McClain’s Money Matters

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Year-End Tax Planning Tips, and Avoiding Taxes on Required Minimum Distributions

On this week’s Hanson McClain’s Money Matters, Scott and Pat provide about yearend tips that can assist with tax planning, they help a caller wanting to know how to use home equity effectively, and they talk about interesting ways to avoid taxes on required minimum distributions.

Scott and Pat take a call from a woman who inherited property from her deceased parents and wants to know if the property tax will be reassessed. A couple who has significant credit card debt, wants to know what they should do to help manage their debt. A caller wants to know how she can defer the taxes she will pay when she sells her duplex.  A husband and wife want to know what their investment strategy should be if they have a large amount of retirement savings that they don’t need to use. Lastly, Scott and Pat welcome HMA’s, Barbara Healy, an advisor with the company for over 13 years, who shares a story about tax planning.

If you have a question for Scott or Pat, you can call 1-888-2-HANSON (1-888-242-6766), or you can submit a question at questions@moneymatters.com at any time to be featured on a future show.  

Scott Hanson and Pat McClain have been hosting Hanson McClain’s Money Matters radio show for over 20 years, and have answered questions from thousands of callers on a variety of financial topics.

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Preparing for retirement, here is the best option for each caller’s situation.

On this week’s Hanson McClain’s Money Matters, Scott and Pat take several calls, helping callers to determine what options are right for their retirement planning needs. And their response to one caller, in particular, may surprise you. 

Scott and Pat take a call from a man who is helping a friend and wants to know what are the advantages and disadvantages of taking a distribution from a 403B versus an IRA. A caller is considering getting a joint title of property with her mother and wants to know if she will have to pay capital gains when her mother passes. Great savers want to know if they should covert some of their Traditional IRA to a Roth IRA each year. A caller wants to know if his plan to purchase multiple single premium immediate annuities makes sense. A husband and wife want to know when they should start taking Social Security. Lastly, a caller wants to know if she needs life insurance or not.

If you have a question for Scott or Pat, you can call 1-888-2-HANSON (1-888-242-6766), or you can submit a question at questions@moneymatters.com at any time to be featured on a future show.  

Scott Hanson and Pat McClain have been hosting Hanson McClain’s Money Matters radio show for over 20 years, and have answered questions from thousands of callers on a variety of financial topics.

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Catching up on saving as an empty nester, and using a specific tax code to supplement income before 59 and a half.

On this week’s Hanson McClain’s Money Matters, Scott and Pat take a call from empty nesters who want to know if they should pay cash for a home or mortgage the home and invest the money, and when is a target date fund appropriate. Lastly, Scott and Pat welcome Hanson McClain’s, David Cox, an advisor with the company for over 20 years.

Scott and Pat take a call from a woman who wants to remodel her Tahoe cabin but is unsure of where to take the loan to do so. A retired state worker wants to know when he should put his $400,000 invested into a target date fund. A caller wants to know if she should buy a second home to offset her tax bill. Empty nesters want to know if they should buy a home cash or take a loan for tax purposes and invest the cash. A caller who will be retiring at the end of the month wants to know how the changes in tax law will affect her retirement portfolio. Lastly, Scott and Pat welcome HMA’s David Cox, an advisor with the company for over 20 years, who shares a story about using a specific tax code to supplement income before 59 and a half.

If you have a question for Scott or Pat, you can call 1-888-2-HANSON (1-888-242-6766), or you can submit a question at questions@moneymatters.com at any time to be featured on a future show.  

Scott Hanson and Pat McClain have been hosting Hanson McClain’s Money Matters radio show for over 20 years, and have answered questions from thousands of callers on a variety of financial topics.

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Amazon’s current pricing strategy, and what to do with inherited stock.

On this week’s Hanson McClain’s Money Matters, Scott and Pat discuss Amazon’s current pricing strategy, what to do with inherited stock, and how to protect yourself from a market pull back. 

Scott and Pat take a call from a couple who wants to know how much money they should have in an emergency fund. An 83-year-old caller who wants to affirm that he is in good shape financially and determine if the $300,000 he has the bank should be invested elsewhere. A caller wants to know if his son should take out a student loan for medical school or if he should take out a home equity line of credit to pay for his sons schooling. Lastly, a caller inherited common stock all in one company and is unsure of whether to hold onto the stock or sell it.

If you have a question for Scott or Pat, you can call 1-888-2-HANSON (1-888-242-6766), or you can submit a question at questions@moneymatters.com at any time to be featured on a future show.  

Scott Hanson and Pat McClain have been hosting Hanson McClain’s Money Matters radio show for over 20 years, and have answered questions from thousands of callers on a variety of financial topics.

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Making a balloon payment on a piece of property and why your pension is not guaranteed.

On this week’s Hanson McClain’s Money Matters, Scott and Pat discuss a caller’s balloon payment due on a piece of property and how to make the payment, why your pension may not be guaranteed, and when a reverse mortgage makes sense.

Scott and Pat take a call from a couple who are great savers and want to know what the contribution limit is on their retirement accounts. The next caller wants to find out if he can borrow money out of his 401K to pay off a balloon payment on second property. A couple in their late 20’s is looking for advice on where to invest their money. A 75-year-old caller wants to know if he should sell his rental properties and draw from the profits for his monthly income to simplify his life. A caller and his wife inherited $90,000, and they need help deciding if they should pay off their mortgage. Lastly, a caller is wondering if she should sell her home and rent to help improve her standard of living. 

If you have a question for Scott or Pat, you can call 1-888-2-HANSON (1-888-242-6766), or you can submit a question at questions@moneymatters.com at any time to be featured on a future show.  

Scott Hanson and Pat McClain have been hosting Hanson McClain’s Money Matters radio show for over 20 years, and have answered questions from thousands of callers on a variety of financial topics.

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A Financial Scam That Would Make Charles Ponzi Proud and What You Need to Know About Buying Mutual Funds

On this week’s Hanson McClain’s Money Matters, Scott and Pat discuss a financial scam that would make Charles Ponzi proud, what investors need to watch out for when buying mutual funds that contain bonds and have high yields, when to take social security, and whether or not continuing an interest only home loan is a good idea.

Scott and Pat take a call from a man who is recently divorced and wants to know if he should continue his interest only home mortgage and max out his defined benefit plan or reduce his contributions and go with a 30-year fixed mortgage. A caller wants to know when he should take his social security benefits. A caller who is considering investing in initial coin offerings. Lastly, a caller wants to know how much long-term care insurance he needs for him and his wife.

If you have a question for Scott or Pat, you can call 1-888-2-HANSON (1-888-242-6766), or you can submit a question at questions@moneymatters.com at any time to be featured on a future show.  

Scott Hanson and Pat McClain have been hosting Hanson McClain’s Money Matters radio show for over 20 years, and have answered questions from thousands of callers on a variety of financial topics.

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The Importance of Financial Education and How to Contribute Up to $20,000 a Year to a Roth IRA Legally

On this week’s Hanson McClain’s Money Matters, Scott and Pat discuss the importance of financial education, how to contribute up to $20,000 a year in a Roth IRA legally, how to know if you need to update your trust, and what planning you need to do if you want to retire out of state.

Scott and Pat take a call from a woman who wants to know how to plan for her and husbands retirement out of state. A caller wants to know if she needs to redo her 16-year-old trust. A couple with no children wants to know if they should purchase life insurance or rely on their $1 million in retirement savings. Lastly, Scott and Pat welcome Hanson McClain Chief Investment Officer, David Schauer, who discusses how to contribute up to $20,000 a year in a Roth IRA legally.

If you have a question for Scott or Pat, you can call 1-888-2-HANSON (1-888-242-6766), or you can submit a question at questions@moneymatters.com at any time to be featured on a future show.  

Scott Hanson and Pat McClain have been hosting Hanson McClain’s Money Matters radio show for over 20 years, and have answered questions from thousands of callers on a variety of financial topics

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California Wildfires, Real Estate, and Investment Scams

On this week’s Hanson McClain’s Money Matters, Scott and Pat discuss how the California wildfires might impact your portfolio, the role that real estate should play in your retirement planning, and how the lowering of the accredited financial standard has provided an opportunity for investment scams on social media.

Scott and Pat take a call from a savvy investor who wants to know if he should take a lump sum from his retirement plan or chose the annuity. An 85 year-old who is stilling working and has $140,000 to invest from the sale of a home wants to know if he should invest in gold. A couple in their mid-50s are wondering how much real-estate they should have in their retirement portfolio. And a caller who wants to know if he should start contributing to a Roth IRA instead of a 401(k).

If you have a question for Scott or Pat, you can call 1-888-2-HANSON (1-888-242-6766), or you can submit a question at questions@moneymatters.com at any time to be featured on a future show.  

Scott Hanson and Pat McClain have been hosting Hanson McClain’s Money Matters radio show for over 20 years, and have answered questions from thousands of callers on a variety of financial topics.

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Scott and Pat discuss lump sum pension payouts, large amounts of money flooding into the marijuana industry, and stock market risk exposure.

Scott and Pat take a call from a teacher who sold a home and wants to know what she should do with an extra $40,000. A self-employed individual found he had $10,000 in an old IRA and wants to invest it in the marijuana industry. A 57-year old lost his retirement in a contentious divorce and is worried about the future. A call about debt management is followed by a visit from Hanson McClain’s Steve Burnett, president of the firm and a 20-year team member, who shares a complex client story about a pensioner with a difficult healthcare problem.

If you have a question for Scott or Pat, you can call 1-888-2-HANSON (1-888-242-6766), or you can submit a question at questions@moneymatters.com at any time to be featured on a future show.  

Scott Hanson and Pat McClain have been hosting Hanson McClain’s Money Matters radio show for over 20 years, and have answered questions from thousands of callers on a variety of financial topics.

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Scott and Pat welcome Hall of Fame running back, Terrell Davis.

On this week’s Hanson McClain’s Money Matters: Scott and Pat welcome Hall of Fame running back, Terrell Davis, who discusses his career arc, from football superstar to retirement success story.

Scott and Pat take a call from a son whose elderly mother has a complex Social Security problem. A caller with limited resources desperately wants to start saving for a new home. Next, a savvy investor wants information on limiting taxes on the sale of a valuable residence. Lastly, Scott and Pat welcome special guest, Hall of Fame running back Terrell Davis, who discusses his career-ending knee injury and the long process of adapting to life after football.

If you have a question for Scott or Pat, you can call 1-888-2-HANSON (1-888-242-6766), or you can submit a question at questions@moneymatters.com at any time to be featured on a future show.  

Scott Hanson and Pat McClain have been hosting Hanson McClain’s Money Matters radio show for over 20 years, and have answered questions from thousands of callers on a variety of financial topics.

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