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Money Matters by Allworth Financial

You cannot time the market

Money Matters by Allworth Financial

Allworth Financial

Investing, Business, Business:investing

4.7 • 839 Ratings

🗓️ 9 January 2021

⏱️ 53 minutes

🧾️ Download transcript

Summary

On this week's Money Matters, Scott and Pat discuss the stock market’s perplexing surge, how bubbles have historically formed, and how disciplined investors can respond in the meantime. Scott and Pat advise a law enforcement officer, with a yearly family income of $138,000, about when he can retire. A public school counselor is starting an e-commerce business and asks how she should form her company. Finally, a caller who was recently diagnosed with cancer asks how she can plan for her financial future. 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

Answering your tough financial questions for the past 26 years, it's Allworth's Money Matters, with co-hosts Scott Hanson and Pat McLean.

0:18.3

Would you like an opinion on a financial matter you're dealing with?

0:21.6

Whether it's about retirement, investments, taxes, or 401ks, Scott Hansen and Pat McLean would like to help you by answering your call.

0:29.6

To join Allworth's Money Matters, call now at 83399 Worth.

0:34.6

That's 83399 W-O-R-T-H.

0:41.4

Welcome to All Worth's Money Matters. I'm Scott Hanson. I'm Pat McLean.

0:45.6

Glad you were with us. Our first, well, it's not the first of the year, but we did a best of the first Saturday of January, 2021, and this is not a best of

0:56.0

and we're glad to be with you. Because it, both myself and my co-host here were both financial

1:00.4

advisors. We've been financial advisors for 30 years. And this has got to be it. Pat, the financial

1:07.8

markets have the most perplexing time that I have ever experienced.

1:12.6

Scott, I will never again ever say I've seen everything because what I saw this week,

1:21.1

um, I couldn't, I just couldn't understand it. I just I, so you're watching what's happening on Wednesday,

1:29.3

right? Yeah. Storming to the Capitol. And then I'm going back and forth watching that,

1:34.8

you know, during the workday, and then watching the markets to see how they're reacting.

1:39.1

And it's like nothing. It was like, it was. And then, and then later on that day, you know, and finally the House confirms and the senators from Georgia.

1:53.9

And you would think, right, because there was all this talk about a Democratic administration,

2:00.2

Democrat controlled Congress and presidency and how it's bad for the stock market.

2:05.7

And the next day, Thursday,

2:09.2

everything's fine.

2:12.3

Well, Pat, I think, my statement, this is your statement, the most perplexing time.

2:17.1

You would have stated that before this

2:19.2

week because if you look at what has what transpired last year 2020 particularly the fourth quarter

...

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