Bridging the gap between having wealth and feeling free, where to invest an inheritance, and questions about Social Security and Roth conversions.

Allworth Financial‘s Money Matters

Allworth Financial

Investing, Business:investing, Business

4.9 • 782 Ratings

🗓️ 29 April 2023

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this week’s Money Matters, Scott and Pat explain why having all the money in the world may not lessen your worry about it. A Pennsylvania teacher who just retired wants to know where she should invest inherited money. An Arizona caller asks whether she can claim her late ex-husband’s Social Security. Finally, a woman who called in the day after retiring finds out when she should do Roth conversions. 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?
0:13.4	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
0:22.4	Money Matters. Call now at 83399 Worth. That's 83399 W-O-R-T-H.
0:32.5	Welcome to All-Worth's Money Matters. I'm Scott Hanson. I'm Pat McLean. Thanks for joining us.
0:37.1	Yeah, glad you are here. Taking some time to be part of our lives, both myself and my co-host,
0:42.7	both practicing financial advisors. We spend weekdays helping people like yourself and spend
0:48.1	broadcast anywhere in the weekends, hopefully helping you. And love taking your calls,
0:53.3	answering questions, talking about what's going on in the current world, the financial markets.
0:57.6	Hopefully, by being part of the program, you could have a little more confidence in your own finances.
1:05.0	It's a little peace of mind sometimes.
1:07.5	It was funny.
1:08.0	We were, this week we had a number of our advisors together and over a couple days, had
1:14.3	a dinner and just chatting and I was talking with one of our advisors.
1:17.4	He was just, we were talking about how interesting it is that we have no wealthy clients.
1:26.7	What I mean by that is very few people consider themselves wealthy.
1:31.5	So the person with $2 million, says, well, I'm, clearly I'm not wealthy.
1:36.1	I mean, if I had $5 million, I'd be wealthy.
1:38.3	And the person with $5 million says, well, I'm not well.
1:41.0	I mean, if I had $20 million, then it'd be wealthy.
1:45.9	But then the clients with $20 million, like, well well I don't know I get you know expensive is do this now I've got this I got this I got
1:49.6	if I had 100 million then I'd be wealthy and like there's very little correlation between
1:59.0	how much you have in net worth and savings
	...

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