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Money Matters by Allworth Financial

Making sense of today’s stock market

Money Matters by Allworth Financial

Allworth Financial

Business, Investing, Business:investing

4.7839 Ratings

🗓️ 22 August 2020

⏱️ 53 minutes

🧾️ Download transcript

Summary

On this week’s Money Matters, Scott and Pat interview Andy Stout, CFA and Chief Investment Officer of Allworth Financial, about the stock market breaking record-highs during a pandemic, and the importance of creating a disciplined investment strategy. Scott and Pat advise a California caller, with $540,000 saved, who is considering a Roth conversion. A public school teacher also asks if he should purchase service credit in his pension for $63,000.  Ask a question by clicking here, or email Scott and Pat at questions@moneymatters.com. Download and rate our podcast here.

Transcript

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0:00.0

Answering your tough financial questions for the past 26 years, it's Allworth's Money Matters, with co-hosts Scott Hanson and Pat McLean.

0:18.3

Would you like an opinion on a financial matter you're dealing with?

0:21.6

Whether it's about retirement, investments, taxes, or 401ks, Scott Hanson and Pat McLean would like to help you by answering your call.

0:29.5

To join Allworth's Money Matters, call now at 83399 Worth. That's 83399 W-O-R-T-H. Welcome to All Worth's Money Matters. I'm Scott Hanson. I'm Pat McLean. Glad you are here with us this weekend. We've got a great program lined up. Of course, both myself and my co-host here. We're financial advisors. Practicing advisors. We've been at this for a long time and come here on the weekends

0:56.9

to be your financial advisors on the air and help you make wise choices with your finances.

1:01.9

And we did a, we embarked on a study a few years ago on really part of it was what's it

1:09.7

take to have a happy retirement.

1:13.9

Yeah, we call it the future framework.

1:15.8

Yeah, but in part of this, when we did this, we, in doing some of our research,

1:22.7

we found that that confidence, one's confidence with their finances is not so much correlated to the amount

1:29.9

of money they have, but whether or not they have a plan in place. That they're confident with

1:37.2

the money they have. Yeah. So a spending plan, a financial plan, an investment plan, those that have

1:43.0

the right kind of plan in place

1:44.8

have confidence with their finances. So part of our objective in reason we've been doing this

1:51.3

program for years to help our listeners have confidence with their finances. And it is a

1:57.2

bizarre time right now. It is a strange, strange, strange world.

2:05.4

Because the economy is most certainly down.

2:14.0

But the stock market is hit. If someone would have said what's here's what's going to

2:22.1

happen to the stock market do you think the market would hit new high you know but scott so i

2:26.8

i think a lot about this in fact i had this conversation with my neighbor who actually owns

2:34.0

a software company that

2:35.5

services small businesses. And 35% of the businesses that they served last year are either closed

...

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