Hanson McClain’s Money Matters

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The Impact of Life Expectancy on Pensions and Social Security

On this week’s Hanson McClain’s Money Matters, Scott and Pat talk about the impact that living longer has on your money, including pensions and Social Security.

Scott and Pat take a call from a man who is self-employed and has a Solo 401(k), and wants to know how he should select a broker to help him manage his retirement assets. A caller and his wife have about $1,600 worth of discretionary income each month, and they want to know if they should pay down their mortgage to prepare for retirement. A man inherited $10,000 from his parents, and he wants to know what he should do with the money to help it grow over time.

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

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Passing along values as well as money to your kids and grandkids

On this week’s Hanson McClain’s Money Matters, Scott and Pat talk about how important it is to prepare your children to inherit money.

Scott and Pat take a call from a man who makes too much money to contribute to a Roth IRA and wants to know if there is a way around the limits. A caller is curious about a fixed income option she can invest in other than bonds. A man is planning to donate stock to a local charity but wants to know if he can avoid capital gains by donating the stock directly. Lastly, Scott and Pat welcome Hanson McClain advisor Pat Henry, who discusses a situation with a client who wanted to determine what would be the most tax efficient way for his children to inherit money from an IRA valued at $700,000.

Ask a question by emailing Scott and Pat at questions@moneymatters.com.

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Saving for Retirement & Investing Profits

On this week’s Hanson McClain’s Money Matters, Scott and Pat take several calls addressing everything from saving for retirement to investing the profits from the sale of a property or business.

Scott and Pat take a call from a man who recently met with a financial advisor who is trying to sell him a life insurance policy and he wants to know if it’s a good investment. A caller is planning to sell his engineering business and would like to understand the best way to invest the proceeds of the sale. A man with a college-age daughter would like to “gift” his daughter $10,000 for education but wants to know if that gift is tax deductible. A 67-year old man purchased land when he was in college and is now planning to sell the land and wants to know what he should do with the profits to generate retirement income. A caller owns property in a neighborhood she would like to leave and wants to know if it makes sense to do a 1031 exchange to a new property. A woman in her 40’s works for an employer who recently dropped her 401(k) plan and she wants to know what’s the best way to continue to save for retirement.

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How to Afford Retirement & Your Child’s College Education

On this week’s Hanson McClain’s Money Matters radio show, Scott and Pat take several calls and talk about how to afford retirement and paying for a child’s college costs.

Scott and Pat take a call from a man who is retired but working on contract, must take his required minimum distributions and doesn’t need the money but wants to know what he should do with the money. A caller recently met with a financial advisor who told him to refinance his mortgage and increase his contributions to his retirement accounts instead of paying off his mortgage, and he wants to know if that is good advice. A man who is looking for a financial advisor wants to what he should be researching when trying to find a well-qualified financial advisor. A caller’s wife was let go after 30 years with her company, and the husband wants to know if she can afford not to go back to work and retire.

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Rising Interest Rates and Retirement

On this week’s Hanson McClain’s Money Matters radio showScott and Pat take several calls and talk about rising interest rates.

Scott and Pat take a call from a man who has a discretionary retirement account and wants to know what withdrawal rate he should use. A caller who has Parkinson’s disease wants to know how he should manage his real estate portfolio given that he is unsure of how long he can work. A woman wants to know how much money she needs to retire comfortably. A caller plans to retire soon and wants to know if her husband can afford to retire with her. A woman with Whole Life insurance wants to know if she should stop paying into the policy.

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The Interesting Thing About Crypto Currency and Initial Coin Offerings

On this week’s Hanson McClain’s Money Matters radio showScott and Pat take several calls and talk about cryptocurrency and initial coin offerings.

Scott and Pat take a call from a man who was recently laid off from his job of 30 years and wants to know what he should do with his 401(k). A man with a considerable amount of assets wants to know how he can avoid taxes when he takes distributions from his 457 since he doesn’t need the money. A caller wants to know if he should be concerned about the lack of returns on his 457 and if he should change his allocation to increase returns. A man just started saving at age 49, and he wants to know if he will ever be able to retire. Lastly, Scott and Pat welcome Hanson McClain’s Justin Wilson, who discusses a client with a unique business ownership dilemma that involves numerous employees and both a C and an S corporation.

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The Problem with Life Insurance as an Investment

On this week’s Hanson McClain’s Money Matters radio showScott and Pat take several calls and talk about the increase in the sale of life insurance as a retirement investment.

Scott and Pat take a call from a woman who is heavily invested in real estate and wants to know if she should purchase more. A retired teacher with a pension wants to know if his Social Security will be affected by his salary from a part-time job. A caller wants to know the ABCs of preferred stocks, and how much of his portfolio should be reserved for them. Lastly, Scott and Pat welcome Hanson McClain President Steve Burnett, who discusses a client who hoped to retire but wasn’t sure she could afford it.

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Best of Show: Retirement Planning and Underfunded Pensions

This week’s Hanson McClain’s Money Matters is a “best of” show featuring our top retirement focused calls. Scott and Pat also talk about underfunded pensions and what it might mean for retirees.

Scott and Pat take a call from a man who’s due to inherit $80,000 and wants to know how to use the money to prepare for retirement. A couple who used to contribute to non-deductible IRAs back when their income was higher, wants to know what type of retirement account(s) they should roll the funds into. A caller with $1.6 million in retirement savings, and who is due to receive a monthly pension of $2,800, wants to know if he’ll be able to afford a mortgage of $2,200 once he stops working. A Bay Area woman with two rentals asks if she should cash out her 401(k) to pay off the loans. A man who owns a home in Reno, has a $4,000 a month pension, and $35,000 in an IRA, wants to know if he has enough income to retire.

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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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