Why a portfolio fails, a lesson on tax efficiency, when direct indexing makes sense, and should you sell stock to boost your emergency fund?

Allworth Financial‘s Money Matters

Allworth Financial

Investing, Business:investing, Business

4.9 • 782 Ratings

🗓️ 29 June 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this week’s Money Matters, Scott and Pat discuss who is to blame when a financial plan goes south. A woman who just retired asks how she can make her portfolio more tax efficient. A New York man wants to know whether he should sell $8,000 worth of individual stocks to boost his emergency fund. Scott and Pat explain the concept of direct indexing and who would benefit from it. Finally, a California caller asks when she should withdraw money from her 457. 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 Hanson and Pat McLean would like to help you by answering your call to join Allworth's Money Matters.
0:19.0	Call now at 83399 Worth. That's 83399 W-O-R-T-H.
0:26.2	Welcome to All-Worth's Money Matters. I'm Scott Hanson. I'm Pat McLean. Thanks for joining us today with myself and my co-host. We are financial advisors,
0:34.7	a certified financial planner, charter financial consultant, spend our weekdays
0:39.3	helping people like yourself, and come here on the broadcast on the weekends to be your
0:44.1	financial advisors on the air.
0:45.4	That's our attempt to help people.
0:48.3	Yes.
0:49.1	After many, many years, seen lots and lots of different things.
0:54.0	I was talking to a person the other day.
0:59.0	Where was I? They asked, they said, so what makes your portfolios go wrong? What, you know,
1:07.4	we manage quite a bit of money? What makes our portfolios go wrong? Yeah, like when you build a portfolio, what do you worry about?
1:14.3	And they asked the question, like, what do you worry about that in when you build a portfolio
1:17.9	what will go wrong?
1:19.5	And I said, well, our portfolios are broadly diversified, so they're not concentrated
1:24.8	at any one thing.
1:26.3	I said, what makes our investment portfolios go wrong
1:31.0	are clients' reactions to those portfolios? The behavioral finance side of it.
1:37.7	The behavioral finance side of it, which is, and the follow-up question was, well, what does that
1:43.3	mean? I said, well, look, there's,
1:46.0	there's a risk premium that goes into equity or stock investing. And in fact,
	...

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