Money Strategy, Roth Questions, Tax Brackets, and Solving a 35 Investment Account Mess

Allworth Financial‘s Money Matters

Allworth Financial

Business, Business:investing, Investing

4.9 • 782 Ratings

🗓️ 17 January 2026

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode of Money Matters, Scott and Pat talk with listeners about decisions around Roth conversions, tax brackets, gifting to kids, and when to start taking money from retirement accounts. One caller is trying to figure out how to simplify things after working with five different advisors. Another wants to use savings to travel without getting pushed into a higher tax bracket. Plus, Allworth’s Head of Wealth Planning, Victoria Bogner, joins the show to share a case where someone had 35 investment accounts—and how the team helped clean it up. It’s a good reminder that sometimes the best financial move is just getting organized. 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. That's 83399 W-O-R-T-H.
0:26.6	Welcome to All-Worth's Money Matters, Scott Hanson.
0:29.6	Pat McLean, thanks for joining us. Yeah, we are glad to be with you talking about financial matters as...
0:34.6	Yeah. And... You know what I did this week this week shot i took some of my own advice and i
0:41.4	adjusted i did my roth rollovers my non qualified this week for both 25 and 26 and then you did
0:48.8	or your wife did it for you i did it oh i sent an email uh to my client service representative at Allworth Financial and said, hey, can you do this?
1:00.0	This is the concept of if you don't have any other IRAs other than Roth IRAs.
1:10.4	If you don't have other, you make a non, and you can't qualify for making a Roth contribution,
1:16.0	you contribute to a non-deductible IRA, and then you immediately convert that to a Roth IRA.
1:24.0	That's correct.
1:24.6	And because you didn't take the tax deduction, the money that you put into
1:28.5	the IRA has already been taxed. And so therefore, when you convert it to a Roth that doesn't
1:33.4	trigger any additional tax bill. Up to your 100% of your earned income, not to exceed the maximum.
1:39.2	I point that out because my daughter had been doing it for years. And then when she went to law school,
1:44.4	I think under my advice, maybe,
1:47.1	I had forgotten she didn't have income
1:48.8	and then she did it and we had to back it out.
1:50.9	Oh, in one particular year.
1:53.3	But I do it and I think you...
1:56.1	I've done it, but it's why my...
	...

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