When insurance is crucial, the beauty of the backdoor Roth, and separating retirement fact from fiction.

Allworth Financial‘s Money Matters

Allworth Financial

Investing, Business:investing, Business

4.9 • 782 Ratings

🗓️ 9 July 2022

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this week’s Money Matters, Scott and Pat spell out what you absolutely need insurance for. Then, they walk a caller through the process of doing a backdoor Roth IRA conversion. You’ll hear the honest advice Scott and Pat give a retiree who wants to take money from her IRA to pay down her car. Finally, Scott and Pat play a little retirement fact or fiction. 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].

Transcript

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0:00.0	Can't get enough of Allworth's Money Matters, visit allworthfinancial.com slash radio to listen to the Money Matters podcast.
0:25.6	Welcome to Allworth's Money Matters, Scott Hanson and Pat McLean.
0:29.0	Glad to have you here as we are talking about financial matters and the world of the markets and retirement
0:38.1	planning having some sort of financial independence
0:41.5	being in a place where you're not freaked out about the markets
0:44.4	because unfortunately too many people seem to do that
0:46.4	um tax planning
0:48.8	investments oh
0:51.8	insurance what about insurance i repraise investments. Oh.
0:55.7	Insurance.
0:57.8	What about insurance? I repraced my insurance this year.
0:59.7	Can I talk about this on this year?
1:00.9	I don't know.
1:02.1	I went out and repraced.
1:05.6	So traditionally I have used a broker and brokers.
1:10.3	And brokers don't have the whole menu of insurance.
1:18.4	They sound like it, but they might have two or three main carriers, right?
1:21.3	They may.
1:22.2	Or there are certain firms that are what they call them, I don't know what they call them now, but they used to
1:28.2	call them captive agents where if there's... Like a state farm, farmers, all state, that sort of thing.
1:33.1	I priced it both with the broker and with the captives. Captive came down. Half the price. With
1:42.9	umbrella policy as well?
	...

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