Annuities, Income Withdrawal Strategies, and Paying Down the Mortgage

Money Matters by Allworth Financial

Allworth Financial

Business, Investing, Business:investing

4.7 • 839 Ratings

🗓️ 27 January 2018

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this week’s Hanson McClain’s Money Matters, Scott and Pat take several calls including one from the son of a widowed mother who is trying to help his mom with her financial situation now that dad is gone, and a gentlemen who wants to know if he should change his withdrawal strategy from his IRA’s based upon the new tax law. Scott and Pat take a call from a women who lives in Minnesota and wants to know if there are options for older workers who do not want to leave the workforce. A caller recently retired and wants to know if she should pay off her mortgage with her money market account. A caller is calling on behalf of his widowed mother and wants to know if they should invest the money from her annuity in the stock market. A man who has a large retirement savings wants to know if given the new tax laws he should adjust his retirement income withdrawal strategy. A caller’s wife is a nurse but doesn’t currently have a retirement plan provided by her employer and wants to know where she should save to lower their combined taxable income. Lastly, a women who owns an annuity but doesn’t need the money wants to know if she should annuitize her variable annuity now. 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.

Transcript

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0:00.0	The following program is brought to you by Hansen-McLean Advisors, and the views expressed may not necessarily reflect the views of this station.
0:09.3	Hi, this is Scott. This is Matt. I tell you, on our program today, we've got a son trying to help his widowed mother figure out the financial aspects now that dad's gone.
0:18.9	Kind of a common thing, but it's an interesting call.
0:21.4	We also have a gentleman that wants to know whether he should change his withdrawal
0:24.7	strategies from his IRAs based upon the new tax law.
0:29.0	Interesting, interesting question.
0:30.4	And we have a call of the age old, do I pay off my mortgage or not?
0:33.1	So stick around for Hansen McLean's Money Matters.
0:35.3	Providing guidance as you plan and transition into retirement for over two decades,
0:39.8	here is Hanson's Money Matters, featuring Scott Hanson and Pat McLean.
0:45.6	Welcome to Hanson's Money Matters. I'm Scott Hanson.
0:48.9	I'm Pat McLean. Thanks for joining us.
0:50.2	That's right, both myself and my co-host here,
0:53.0	both financial advisors, certified financial
0:54.9	planner, chartered financial consultant. We spend our weekdays meeting with people like yourself
0:59.7	come here on the weekends to be your financial advisors on the air. Before you turn the channel and say,
1:04.3	well, financial show, not another one. Stick with us for a bit. We've been doing this program for over
1:09.8	20 years and it's not quite like a lot of the other financial programs out there. We hope not. We take a lot of calls to talk with people. It's real life. It's not the theoretical. Where's the Dow? Where's the S&P? What do you think about Bitcoin? We do a little bit of that.
1:27.9	A little bit, but it's not all that.
1:30.2	We don't tell you you do these three things.
1:32.1	You're going to be wealthy overnight.
1:33.6	No.
	...

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