Navigating Financial Turbulence: Election Impacts and Investment Strategies

Allworth Financial‘s Money Matters

Allworth Financial

Investing, Business:investing, Business

4.9 • 782 Ratings

🗓️ 28 September 2024

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this week's Money Matters, Scott and Pat delve into the complexities of financial decision-making amidst the unpredictable political landscape. They discuss how market reactions to political events can be misleading and why it's crucial to focus on long-term investment strategies rather than short-term market fluctuations. They tackle the myths surrounding unrealized capital gains and their potential impact on your 401(k), shedding light on the misinformation perpetuated by the media. They emphasize the importance of understanding real rates of return and how inflation affects your investment portfolio. Scott and Pat provide insights into maintaining a balanced investment approach, considering factors such as timeline, risk tolerance, and life changes. They also share personal anecdotes to illustrate the importance of thoughtful financial planning. Finally, they answer listener questions on various topics, from setting up irrevocable trusts to making charitable contributions through IRAs. 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?
0:05.0	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.
0:15.0	Call now at 83399 Worth. That's 83399 W-O-R-T-H. Welcome to Allworth Money Matters, Scott Hanson.
0:24.7	Matt McLean, thanks for joining us. Yeah, glad you are here with us as we talk about financial matters.
0:32.5	And in this presidential election cycle where the madness just continues.
0:39.4	And you look at the press and it says, well, the market did this because of this.
0:44.2	And then the next day, it will give you another reason and then another reason.
0:49.0	Isn't that the truth, right?
0:51.4	And the, the, the, look, I'm not not i'll be apolitical on this this um i'll try to i'll try to be
1:02.6	apolitical how about no politics at all what are we talking about some of the some of the
1:06.9	we will talk about finances some of each one of the candidates have put up positions on certain things.
1:13.6	They both have crazy ideas, I think.
1:15.4	But the press seems to take it to an extreme about how bad.
1:19.5	I keep seeing this over and over and over again.
1:22.2	Unrealized capital gains will actually sink your 401k.
1:27.1	I'm like, where did, where did that?
1:29.2	Unrealized capital gains.
1:30.4	That was Mark Cuban's line.
1:32.3	Yeah, but, but where, where was that that, that unrealized, that your 401k now will
1:39.7	be subject to unrealized capital gains tax?
1:43.6	If you're now worth this over $100 million.
1:47.6	I don't think Mark Cuban's 401C constitutes. No, where they said that it's going to affect
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