The cost of fear and greed, a question about Roth conversions, and an estate plan dilemma.

Allworth Financial‘s Money Matters

Allworth Financial

Investing, Business:investing, Business

4.9 • 782 Ratings

🗓️ 25 February 2023

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this week’s Money Matters, Scott and Pat explain the importance of making the right financial moves when markets are down, but also when they are up. A husband and wife ask when they should do Roth conversions, but Scott and Pat never answer their question. Huh? You’ll hear why. Finally, a caller from Montana wants to know whether it’s best to have a family member be the executor of her estate, rather than a third party. 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 [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?
0:20.0	Whether it's about retirement, investments, taxes, or 401ks, Scott Hansen and Pat McLean would
0:26.0	like to help you by answering your call to join Allworth's Money Matters.
0:30.0	Call now at 83399 Worth.
0:33.1	That's 83399 W-O-R-T-H.
0:42.7	Welcome to All Worth's Money Matters. I'm Scott Hanson. I'm Pat McLean. Thanks for joining us.
0:45.6	That's right. If we're coming to you the weekend, last weekend in February.
0:50.6	Myself and my co-host here, we're both financial advisors, certified financial planner, chartered financial consultant, spend our weekdays helping people like yourself plan their financial
0:54.8	future, have some financial independence in their lives, and we broadcast our program on the
1:00.1	weekends, hopefully to be your financial advisors on the air. And appreciate the opportunity to be
1:06.3	of service to you. And it appears that the market volatility is returned. Yes. Well, I don't think it really
1:12.6	ever... Okay, maybe not. I mean, January, the first couple of weeks of January were so strong that...
1:16.9	I was thinking to myself this morning, this is the time that money is made. And it's hard to see that.
1:26.0	It's hard to see that. Because you look at your account and you're like,
1:31.1	what's this Pat McLean talking about? There's no money being made. There will be money being made.
1:37.3	And it will be made over time. But it will only be made if you make the right moves in the most painful times.
1:45.6	And if companies make the right moves.
1:47.4	I mean, what's really interesting, Pat, is that these market cycles are healthy and necessary in a free market economy.
1:55.7	Because in the robust times, when things are going well, when money's cheap or almost free, like it was when interest rates were zero, it's easy for companies to get kind of fat and happy.
2:09.7	They're hitting their top line numbers.
2:12.6	Their profits are up.
2:15.0	They don't think twice about how they're spending their money, a lot of excesses,
	...

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