A deep dive into the 401(k), and we said pay off your mortgage. Did he take the advice?

Allworth Financial‘s Money Matters

Allworth Financial

Investing, Business:investing, Business

4.9 • 782 Ratings

🗓️ 9 April 2022

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this week’s Money Matters, Scott and Pat discuss the creative ways people are paying off student debt after they’ve taken vows of poverty. You’ll hear advice for a woman thinking of selling gold and silver coins she’s had for 50 years. Plus they help a pilot decide whether to contribute to his regular 401(k), or Roth version. Finally, Scott and Pat check in on a man who called the show eight months ago with a million dollars in savings. Did he take the suggestion to pay off his mortgage? Join Money Matters: Get your most pressing financial questions answered by Allworth's CEOs Scott Hanson and Pat McClain live on-air! Call 833-99-WORTH. Or ask a question by clicking here. You can also be on the air by emailing Scott and Pat at [email protected].

Transcript

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0:00.0	Would you like an opinion on a financial matter you're dealing with?
0:17.6	Whether it's about retirement, investments, taxes, or 401ks,
0:22.1	Scott Hansen and Pat McLean would like to help you by answering your call to join Allworth's Money
0:27.1	Matters. Call now at 83399 Worth. That's 83399 WORTH. Welcome to Allworth's Money Matters, Scott Hanson, Pat McLean.
0:39.0	Glad you are joining us today as we talk about financial matters.
0:43.1	Myself and my co-host here, we're both practicing advisors.
0:45.9	Our objective with people is to help them get to a point where they have some financial
0:50.1	independence, meaning that work is an option and not an obligation.
0:55.3	Retirement's a possibility,
1:01.7	if that's something they want, making sure things are structured in such a manner to maximize what's important to them in their lives. And money's a funny thing because, I mean, you go to the kind of, there's some people that think money's kind of a bad thing
1:16.0	money is the root of all evils right there's people that like well money's bad and the
1:20.7	accumulation of money therefore must be bad right there's some that take a vow of poverty yes
1:24.9	and religious and then there's some that that are so, the money to them is about
1:32.2	power and control and ego. But if you kind of in the middle, there's that it's a, it's a necessary
1:39.9	tool. Yes. Right? Because without money,
1:45.6	you can't eat,
1:46.6	you can't have a roof over your head.
1:48.3	It's what you use to exchange
1:50.2	for goods and services.
1:53.2	It's what it is.
1:54.6	I was like to say it is a form
1:56.4	of a store of labor for most people.
	...

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