Money Matters: Navigating market uncertainties, Roth conversions, and the importance of estate planning.

Allworth Financial‘s Money Matters

Allworth Financial

Investing, Business:investing, Business

4.9 • 782 Ratings

🗓️ 5 October 2024

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this week's Money Matters, Scott and Pat address the current state of the market amidst global uncertainties, providing a reminder of the unpredictable nature of short-term market movements and the importance of staying focused on long-term financial goals. In an enlightening call-in segment, Scott and Pat assist Jeff from Ohio with a query about Roth conversions, offering tailored advice to help him make informed decisions about his retirement savings. This episode also highlights the importance of having a will or trust, even for those who are single, to ensure that assets are distributed according to one's wishes, rather than leaving it to state laws. Scott and Pat share anecdotes and insights on navigating financial planning, emphasizing the importance of empathy in advising clients. They discuss the critical role of a financial advisor in guiding clients away from irreversible mistakes, underscoring the value of clear communication and understanding in financial decision-making. With discussions ranging from the pitfalls of certain financial products to the significance of having a solid estate plan, this episode is packed with valuable insights for anyone interested in securing their financial future. 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?
0:08.7	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.
0:18.5	Call now at 83399 Worth.
0:21.5	That's 83399 W-O-R-T-H.
0:26.1	Welcome to Money Matters.
0:27.8	I'm Scott Hanson.
0:28.6	I'm Pat McLean.
0:29.6	Glad you are with us today as we talked about financial matters.
0:32.0	Myself and my co-host, we've both been financial advisors for decades and have helped thousands of people navigate
0:40.4	their own personal finances and come here on the air to be your financial advice.
0:44.7	We have tried.
0:45.9	We've tried to help thousands of people.
0:49.0	My favorite line ever from a client, oh, he'd been with me for, I don't know, 25 years. He came in the office and he said to
0:57.2	me, Pat, I got to tell you, this is some of the best advice in the last 25 years, some of the best
1:01.5	advice that you could ever ask for for financial planning. He said, unfortunately, I didn't take
1:06.5	most of that. Is that right?
1:13.0	You've got a big motor home.
1:19.3	Well, it's interesting. I mean, a part of being a good financial advisor is helping people do what's best for them. You're telling them what they need to hear, not necessarily what they want to
1:23.5	hear. I mean, look, like we've all had, talk about the medical field, we've all had a variety of physicians over the years. Some are really good at communicating. They're all experts. That's right. Some are really good at communicating. Some, one, I thought I was on candid camera. I swear. The guy was brilliant on his specialty and what I need, But his lack of ability to communicate with me was,
1:47.0	I literally thought there must be a hidden camera.
1:49.0	No one could be this bad.
1:49.9	So I read a book a number of years ago,
	...

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