Hanson McClain’s Money Matters

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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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The Top 5 Retirement Income Decisions Facing Older Workers

On this week’s Hanson McClain’s Money Matters, Scott and Pat talk about a new study on retirement income decisions from Stanford’s Center on Longevity.

Scott and Pat take a call from a man who wants to know if he should purchase a retirement home in Nevada now and rent it for two years until he is ready to retire. A woman who has a whole life insurance policy wants to know if she should cash out the policy or hold on to it. A recent widow is calling to determine at what age she can start collecting on her husband’s Social Security benefit. Lastly, a caller wants to know how he can avoid capital gains taxes when selling company stock he inherited.

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The Value of Good Financial Advice

On this week’s Hanson McClain’s Money Matters, Scott and Pat take several calls and talk about the importance of getting the proper retirement advice.

Scott and Pat take a call from a man who pre-paid his property taxes for 2017 and wants to know if that was the right choice and if there have been any changes to the new tax law that would keep him from claiming those property taxes. A caller wants to know if he should take the joint and survivor annuity pension option that his company is offering. A woman who inherited an IRA from her mother wants to know what she should do with the IRA and how soon she needs to make a decision. A caller who recently made a Roth conversion before the age of 59½ wants to know if there is anything he can do to mitigate the tax consequences and how he should go about paying the taxes in the future. Lastly, a couple disagrees on when to take distributions from their IRA, and want Scott and Pat’s opinion to be the deciding factor.

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Esoteric Financial Products and Planning for Retirement

On this week’s Hanson McClain’s Money Matters, Scott and Pat talk about esoteric financial products and take several calls.

Scott and Pat take a call from a caller who has Parkinson’s and wants to know how he should handle his investments given the disease. A caller wants to know how his RMD’s should be distributed. A woman who is self-employed managed to save several million dollars over the course of several years and wants to know how she should invest that money. A caller who doesn’t want to be a landlord but is looking for another to invest is curious about REIT’s and wants to know if they are a good investment option. Lastly, Scott and Pat welcome Hanson McClain president Steve Burnett, who discusses a situation with a client who was concerned about retiring.

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Estate Planning with the New Tax Laws and the Stock Market

On this week’s Hanson McClain’s Money Matters, Scott and Pat talk about estate planning with the new tax laws and the current state of the stock market.

Scott and Pat take a call from a caller who received a large windfall from his employer's pension plans and wants to know how to mitigate the increase in his Medicare premiums. A caller wants to know what he and his wife should do with the money she inherited. A woman inherited money from her father and wants to know if the money will be taxed. A man calls on behalf of someone else and wants to know what the maximum Wind Fall Elimination program reduction would be for a teacher who wants to retire at 62. Lastly, Scott and Pat welcome Andrew Kroll, Estate Planning & Asset Protection Attorney at Kroll Law Offices, P.C.

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Tax Law Changes and Cryptocurrency

On this week’s Hanson McClain’s Money Matters, Scott and Pat interview a CPA from Denver to talk about the new tax law changes and they talk about the state of Cryptocurrency.

Scott and Pat take a call from a caller who has several rental properties want to know how much money he should have in an emergency fund. A man who has an indexed based annuity wants to know what he should do with the rider. A caller wants to know if he should contribute his $16,000 bank of accruals disbursement into his Roth or 457. A man calls on behalf of a friend who is going through a divorce and needs help making a community property decision regarding a CalPERS pension account. A retired military vet wants to know if he and his wife have enough to retire comfortably. Lastly, Scott and Pat welcome Bill Holben, Managing Partner of Holben Hay Lake Balzer CPAs in Denver, Colorado, to talk about the new tax law.

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A New Spin on Non-Traded REIT’s, and the State of the Stock Market

On this week’s Hanson McClain’s Money Matters, Scott and Pat talk about a new spin on brokers selling non-traded real-estate investments, and the state of the stock market.

Scott and Pat take a call from a caller who has a variable annuity and wants to know what he should do with that annuity should he need the money. A women who is retired and needs to do $20,000 worth of home improvements and wants to know where she should pull the money from. A women is calling on behalf of her daughter and wants to know if her and her husband should use their savings to pay down the mortgage or continue to save. Next Pat and Scott talk about the current state of the stock market.  A caller wants to know if he and his wife should pay off their primary residence and retirement home they purchase in the California, Foothills. Lastly, Scott and Pat welcome Hanson McClain advisor Eric Henry, who discusses a situation with a client who wants to invest in non-traded real-estate investment trusts for the purpose of long-term care planning.

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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