The myth of “unleashing” home equity

Money Matters by Allworth Financial

Allworth Financial

Business, Investing, Business:investing

4.7 • 839 Ratings

🗓️ 3 July 2021

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this week’s Money Matters, Scott and Pat answer why using your home’s equity for other investments can come back to bite you. Scott and Pat advise a 64-year-old caller with $3.3 million in savings who wants to know if he should do a Roth conversion to save on his future tax bill. A re-married man who is selling his house asks how he should invest the $100,000 expected from the sale. A retired man wants to know if he should use dividend stocks to make payments on a $330,000 mortgage. Finally, a woman who recently moved to San Diego wonders how she should pay for a home worth $800,000. 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	Would you like an opinion on a financial matter you're dealing with?
0:17.6	Whether it's about retirement, investments, taxes, or 401ks,
0:22.1	Scott Hansen and Pat McLean would like to help you by answering your call to join Allworth's Money
0:27.1	Matters. Call now at 83399 Worth. That's 83399 W-O-R-T-H.
0:35.8	Welcome to All-Worth's Money Matters. I'm Scott Hanson. I'm Pat McLean. Thanks for joining us as we talk
0:41.3	about financial matters on this Fourth of July weekend, Independence Weekend. Yes. And can we still
0:47.7	say independence? I love I love Fourth of July. Anyway, this is the financial program. We're talking about financial matters and help you make wise choices with your finances.
0:58.0	And we're both practicing financial advisors.
1:01.3	Spend our weekdays helping people like yourself and we broadcast on the weekends being your financial advisors on the air.
1:06.5	So glad that you are with us as you're listening to this program.
1:09.6	And our objective for this particular show is that you are with us as you're listening to this program. And our objective for this
1:12.0	particular show is that you will leave knowing more than when you came. About mostly around
1:19.1	retirement planning. Money in general. Yeah, money stuff. Yes. But it is the Fourth of July weekend.
1:26.4	Yes. And for, uh, I think 18 years in a row, we watched fireworks from a boat in Lake Tahoe.
1:34.4	Okay.
1:35.4	Family tradition.
1:36.4	Then last year, COVID, and I guess that was canceled because you couldn't have fireworks.
1:41.6	Yes.
1:42.2	And then it's canceled again this year.
1:43.6	Why this year?
1:45.7	Apparently, they needed to make the decision on whether they should order a few months ago when it was still looking.
1:51.5	Oh.
	...

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