A complex pension question, confusing life insurance products, estate planning insights, and wealth strategies.

Allworth Financial‘s Money Matters

Allworth Financial

Investing, Business:investing, Business

4.9 • 782 Ratings

🗓️ 7 December 2024

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this week’s Money Matters, Scott and Pat help callers with crucial financial decisions. They dive deep into the complicated choice between taking a pension as a lump sum or as monthly income. They provide valuable tips on managing vacant property in disrepair and whether to sell or renovate. They discuss the intricacies of Indexed Universal Life Insurance and why it may not be the best choice for tax savings. Plus, they cover estate planning and step-up in basis, offering listeners comprehensive strategies for efficient wealth management. With insightful discussions on retirement strategies, annuities, and pension plans, Scott and Pat offer practical advice to navigate these significant financial crossroads. Don't miss this informative session as they debunk myths, provide clarity, and guide you towards financially sound decisions. 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?
0:07.6	Whether it's about retirement, investments, taxes, or 401Ks, Scott Hansen and Pat McLean would like to help you by answering your call to join Allworth's Money Matters.
0:17.7	Call now at 83399 Worth. That's 8-99 W-O-R-T-H.
0:24.7	Welcome to All-Worth Money Matters, Scott Hanson.
0:27.4	Pat McLean.
0:28.1	Glad you are here with us and hope everybody had a...
0:32.0	I think we passed up last week as Thanksgiving.
0:35.2	Here we are back in the saddle working.
0:37.6	With myself and my partner here, we're both financial advisors.
0:41.1	And we've got some calls already on hold, so we're going to get right to the calls today.
0:45.3	If you want to join us, you can send us an email, Questions at Money Matters.com.
0:51.0	And that's probably the simplest way, at money matters.com or call us at
0:54.9	83399 worth we're starting off with bill bill you're with all worth money matters
1:01.2	i'm a 70 year old divorce mail that will be retiring so with a 1.2 million dollar pension
1:08.7	and i was made aware that i when I'm going to take the lump sum, that I never wanted a check
1:16.7	written in my name because I have to pay taxes on her right away.
1:20.4	So what I like to know is what IRA account is the best one to roll it into and how to do that.
1:28.1	Okay, so let's step back a couple of steps.
1:34.0	You're 72.
1:35.8	70.
1:36.4	70.
1:37.1	70.
	...

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