The number one objective of financial planning, high-yield savings accounts vs. CDs, how to stay in a lower tax bracket, and a strategy to generate income.

Allworth Financial‘s Money Matters

Allworth Financial

Investing, Business:investing, Business

4.9 • 782 Ratings

🗓️ 1 June 2024

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this week’s Money Matters, Scott and Pat explain why financial planning must go beyond discussions about money. A Florida man wants to know the best way to take advantage of higher interest rates. A Maryland caller with millions in savings asks how he can consistently keep his income down. Finally, a man seeks guidance on how to generate income once the yearly payments he receives from the sale of a business run out. 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?
0:09.6	Whether it's about retirement, investments, taxes, or 401ks, Scott Hanson and Pat McLean would like to help you by answering your call to join Allworth's Money Matters.
0:19.9	Call now at 83399 Worth. That's 83399 W-O-R-T-H.
0:26.8	Welcome to All-Worth's Money Matters. Scott Hanson here. Pat McLean, thanks for joining us.
0:31.7	That's right, both myself and my co-host. We're both financial advisors, and we have been practicing advisors for three decades and come to you in the weekends being your financial advisors on the air.
0:43.5	Yes.
0:44.7	It's always good being in the studio here talking about stuff in financial matters.
0:48.8	Yeah, little things, big things.
0:53.3	I was actually on the phone this morning with a client in, oh my gosh, 25 years.
1:00.2	And the things that clients, some super mundane and some are really like life.
1:09.9	I'll share it with you, Scott. 85 year old couple, maybe 20, 25 years clients.
1:18.4	Own a couple condos. They're like, well, we want to give them to our kids. I'm like,
1:23.1	that's a bad idea. Cost basis, you know, moves with it.
1:29.4	Yeah, I mean, the difference is they make a gift now.
1:32.0	They're low cost basis, presumably low cost basis,
1:35.0	is going to carry over to their kids.
1:36.5	If they wait and the first one passes,
1:38.2	then the step-up basis that time they can make it.
1:40.6	So I explain that.
1:41.6	And then the second question is,
1:43.4	why do you want to sell
1:44.5	these condos? You've owned it forever. And then like, well, we're tired of it. I said, how
	...

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