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Allworth Financial‘s Money Matters

A deep dive into banking industry turmoil, a caller worried about market volatility, and why some should take Social Security ASAP.

Allworth Financial‘s Money Matters

Allworth Financial

Investing, Business:investing, Business

4.9782 Ratings

🗓️ 25 March 2023

⏱️ 53 minutes

🧾️ Download transcript

Summary

On this week’s Money Matters, Scott and Pat have an in-depth discussion of turmoil in the banking industry with the president and CEO of a regional bank. Then they help a caller who wonders whether he should take his money and run from market volatility. Finally, they explain to an Ohio man why it will be dangerous for him to wait until 70 to take Social Security.   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

Click on a timestamp to play from that location

0:00.0

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

0:08.0

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

0:16.0

To join Allworth's Money Matters, call now at 83399 Worth. That's 83399 W-O-R-T-H. Welcome to Allworth's Money Matters. I'm Scott Hanson.

0:28.9

I'm Pat McLean. Thanks for joining us. That's right. There's really nothing going on in the financial world.

0:33.5

Oh, my. We think we'll skip the show today. Oh, my, oh my. But it seems to, Scott, it does seem that, you know, with the banking, who knows turmoil? Who knows where we are? Well, the government is pushing in hard to try to stabilize. I think so. You don't think so? Well, for sure. I mean,

0:55.7

Yellen pretty much said, we're going to do what we need to do.

0:58.9

Yeah.

1:01.5

Again, I feel bad for the small regional banks, though.

1:06.3

Well, I think that's the story that's not being told much.

1:09.9

And in a moment, we'll have a guest on who's the president of a community bank.

1:14.3

And the importance of the small regional banks that play in local economies with small and medium-sized businesses.

1:24.3

You look at business loans, Pat, of under a million bucks, let's say.

1:28.0

The vast majority of those are done through the community banks.

1:31.2

That's right.

1:31.5

The local bank.

1:32.3

That's right.

1:32.9

The bank of whatever, right?

1:34.1

The local bank that you, not the national bank, it's the local bank.

1:37.2

The national bank's not going to lend $300,000 to someone starting a new business.

1:41.5

I don't even know these people. And the regional bank's like, well, that's Jimmy, Jimmy's dad.

1:48.6

Our kids play lacrosse together, all that stuff.

1:51.7

That matters.

...

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