Bridging the gap between having wealth and feeling free, where to invest an inheritance, and questions about Social Security and Roth conversions.

Money Matters by Allworth Financial

Allworth Financial

Business, Investing, Business:investing

4.7 • 839 Ratings

🗓️ 23 December 2023

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this week’s Money Matters, Scott and Pat explain why having all the money in the world may not lessen your worry about it. A Pennsylvania teacher who just retired wants to know where she should invest inherited money. An Arizona caller asks whether she can claim her late ex-husband’s Social Security. Finally, a woman who called in the day after retiring finds out when she should do Roth conversions. 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 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?
0:05.0	Whether it's about retirement, investments, taxes, or 401ks,
0:09.0	Scott Hansen and Pat McLean would like to help you by answering your call
0:13.0	to join Allworth's Money Matters. Call now at 83399 Worth.
0:18.0	That's 83399 W-O-R-T-H.
0:23.3	Hey, everyone, Scott Hanson here with Allworth's Money Matters. I hope we're having a great
0:27.6	Christmas and holiday season. Hey, Pat and I do the holidays are taking this week off.
0:34.4	We're having a best of. Hope you enjoy it, but we want to offer our best wishes for everybody for the season and for the end of the year. I appreciate you being listeners to our podcast. Thanks so much. By the way, if you enjoy our podcast, share it with a friend. Merry Christmas, everybody. Welcome to All Worth's Money Matters. I'm Scott Hanson. I'm Pat McLean. Thanks for joining us. Yeah, glad you are here. Taking some time to be part of our lives, both myself and my co-host,
0:59.5	both practicing financial advisors. We spend weekdays helping people like yourself and spend
1:04.8	broadcast anywhere in the weekends, helping, hopefully helping you. And love taking your calls,
1:10.1	answering questions, talking about what's going on in the current world, the financial markets, hopefully helping you. And love taking your calls, answering questions,
1:12.7	talking about what's going on in the current world,
1:14.2	the financial markets.
1:17.7	Hopefully, by being part of the program,
1:20.7	you could have a little more confidence in your own finances.
1:23.5	This week we had a number of our advisors together.
1:29.6	And over a couple days, had a dinner and just chatting. And I was talking with one of our advisors he was just we were talking about how interesting it is that we have no wealthy clients
1:37.2	what I mean by that is very few people consider themselves wealthy so the person with with $2 million, says, well, I'm clearly I'm not wealthy. I mean, if I had $5 million, I'd be wealthy. And the person with $5 million says, well, I'm not well. I mean, if I had $20 million, then it'd be wealthy. But then the guy with $20 million. Well, I don't know. You know, expensive is to do this and that.
2:01.4	I've got this.
2:01.9	I got this.
2:02.1	If I had 100 million, then I'd be wealthy.
2:07.0	And like there's very little correlation between how much you have in net worth and savings
	...

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