Allworth Financial’s Money Matters

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

November 11, 2017

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 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.