A big change in consumer behavior, when $5 million is enough, the crypto collapse, and properly timing Social Security

Allworth Financial‘s Money Matters

Allworth Financial

Investing, Business:investing, Business

4.9 • 782 Ratings

🗓️ 11 March 2023

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this week’s Money Matters, Scott and Pat begin the show by discussing the impact of a huge change in consumer behavior. A caller with $5 million in savings is worried she hasn’t saved enough. A 68-year-old Coloradan wants to know if he should take Social Security. And, finally, a call from a veteran who has saved well and wants to change careers gives way to a crypto conversation.

Transcript

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0:00.0	Would you like an opinion on a financial matter you're dealing with?
0:09.2	Whether it's about retirement, investments, taxes, or 401ks, Scott Hanson and Pat McLean would like
0:15.5	to help you by answering your call to join Allworth's Money Matters.
0:19.6	Call now at 83399 Worth. That's 83399 W-O-R-T-H.
0:28.6	Welcome to All-Worth's Money Matters, Scott Hanson.
0:31.3	Pat McLean, thanks for joining us. That's right. Glad you are with us on this mid-March
0:36.1	weekend.
0:39.5	That's when we're recording our program.
0:40.9	Yes, and the volatility.
0:43.9	Wow, the markets continue.
0:53.1	It's, that comes out and says, look, we're just going to keep at it until it's fixed, until the inflation is fixed.
0:55.5	The markets have not liked that comment.
1:03.0	And it is, it's a strange, you read more layoffs and layoffs and layoffs, and then you look at the job numbers and you're like, we're spending.
1:06.7	Yeah.
1:07.2	Go to a restaurant.
1:08.2	It's hard to get a reservation, right?
1:10.5	It's, there's a complete disconnect. And you wonder is it still cashed as flushing around
1:17.1	from the COVID eras? And it is, quite frankly, for the middle and upper income.
1:22.2	Well, what's interesting, Pat, is their consumer behavior has changed.
1:28.4	We as consumers have changed.
1:31.4	And I think,
1:32.3	I actually think some of that lockdown,
	...

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