Tax-Efficient Investing, Retirement Choices, and Market Shifts

Allworth Financial‘s Money Matters

Allworth Financial

Investing, Business:investing, Business

4.9 • 782 Ratings

🗓️ 20 September 2025

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this week’s Money Matters, Scott and Pat dive into market shifts—tariffs, AI-driven productivity, and surprising earnings—and explain why chasing predictions fails while fundamentals like tax-efficient investing deliver results. Next, a caller shares his career-change dilemma: should he leave a higher-paying job for a teaching role with a pension? Scott and Pat weigh in on how retirement savings, insurance coverage, and college funding fit into the bigger picture. Later, another caller with a $9 million stock portfolio reveals his struggle with taxes from heavy dividend income. This leads to a deep dive into tax-efficient investing, where Scott, Pat, and Allworth’s Head of Wealth Planning, Victoria Bogner, break down strategies like gifting stock, using net unrealized appreciation (NUA), and leveraging direct indexing for smarter portfolio management. The episode closes with actionable insights to help you apply tax-efficient investing in your own financial plan—so you can keep more of what you’ve worked hard to build. Join Money Matters: Get your most pressing financial questions answered by Allworth's co-founders 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]. 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?
0:08.4	Whether it's about retirement, investments, taxes, or 401ks, Scott Hansen and Pat McLean would like
0:14.7	to help you by answering your call to join Allworth's Money Matters.
0:18.7	Call now at 83399 Worth. That's 83399 W-O-R-T-H. Welcome to All-Worth's Money Matters, Scott Hanson. Pat McLean, thanks for joining us. You know it's funny, Pat. We've been doing this show a long time. And as I'm driving into the studio today, I'm thinking, oh, man, I've been in this long time. And I started thinking about all of the shows that eventually ended. And I thought, but now that I'm here, I'm having a great time. Isn't that so much about life? Not just radio show. Work in general, some relationships, Christmas with the family. I'm not talking to my daughter. was debating now she was going to go to some events. It was like, it was a church youth group thing. I don't know if I want to go tonight. Should I go to? Should I not go? I don't know if I want to go. And I said, when was the last time that you decided that you went, you had, we're going through this and you went and you regretted going? And she said, I can't think of any. So then maybe you should go. Perfect. You'll see all your friends. It's a good, wholesome ad, you know, all that stuff. It's got the same way I work. Jim, what's the life? So, Scott. Anyway, we're financial advisors. That's what we're going to talk about. Not our daughters or our gym life.
1:30.2	Yes.
1:31.2	So I did want to talk about the markets.
1:37.8	Just reflecting on the year.
1:42.1	The effective tariff rates, tariff rates on import,
1:45.9	highest they've been since the 1930s.
1:49.6	Right?
1:49.8	That's the effective terror.
1:51.5	No one.
1:52.6	That's amazing, isn't it?
1:53.7	It is starting to come,
1:55.6	it is working its way through.
1:57.1	Oh, it will work its way through.
1:58.3	Yeah, for sure.
1:58.7	But it could change in minutes, truly, in minutes.
2:04.7	No, Trump is so predictable. What do you mean?
2:09.9	It just, the biggest companies out there, their S&P 500, largest companies in the S&P 5, they feel like they're
2:20.1	a little bit insulated from.
2:21.7	You look at the earnings growth, Pat.
	...

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