A Common Tax Mistake Wealthy Investors Overlook

Money Matters by Allworth Financial

Allworth Financial

Business, Investing, Business:investing

4.7 • 839 Ratings

🗓️ 14 February 2026

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of Money Matters, Scott and Pat take calls from high-net-worth listeners who uncover the same wealthy tax mistake, despite very different financial situations. From retirees with most of their money in IRAs to investors weighing Roth conversions and income strategies, the conversations show how easy it is to pay more in taxes than expected. They explain how this wealthy tax mistake often comes from tax-deferred concentration, why paying taxes from retirement accounts can shrink cash flow, and how poor timing can quietly turn into a long-term wealthy tax mistake. If you’ve built significant assets and want to protect your income and flexibility, this episode offers clear, practical insight. Join Money Matters: Get your most pressing financial questions answered by Allworth's co-founders Scott Hanson and Pat McClain. Call 833-99-WORTH. Or ask a question by clicking here. You can also be on the air by emailing Scott and Pat at questions@moneymatters.com. Download and rate our podcast here.

Transcript

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0:00.0	Would you like an opinion on a financial matter you're dealing with?
0:08.7	Whether it's about retirement, investments, taxes, or 401Ks, Scott Hansen and Pat McLean would like to help you by answering your call to join Allworth's Money Matters.
0:19.0	Call now at 83399 Worth.
0:21.6	That's 83399 W-O-R-T-H.
0:25.9	Welcome to All-Worth's Money Matters, Scott Hanson.
0:27.9	Pat McLean, thanks for joining us.
0:29.7	Yeah, go ahead.
0:32.7	We're talking about financial stuff.
0:34.2	Yes.
0:34.5	Help people make good choices with their finances.
0:36.8	Yes.
0:37.5	Yes, we're trying to leave politics out of it. What? financial stuff. Yes. Help people make good choices with their finances. Yes. Yes.
0:37.8	Trying to leave politics out of it.
0:41.4	Is there anything going on in the world politically?
0:43.3	I don't know, Pat.
0:44.6	Everything seems so calm and normal.
0:46.5	But again, since this administration, again, I'm amazed on how sometimes the market reacts, which means people,
0:58.3	voting with their dollars about buying and selling, react negatively on some news.
1:04.5	And then on very similar news, react positively, which it just, it reminds me.
1:12.9	It, am I, Mike, I just, you're getting frustrated.
1:17.5	I just don't understand.
1:19.4	Well, it doesn't necessarily move one way or the other.
	...

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