Money Matters by Allworth Financial

For 30 years, Money Matters hosts Scott Hanson and Pat McClain have answered thousands of questions from callers just like you. This is the perfect podcast for you if you have questions like, should I do Roth conversions? Are there tax strategies I should be using? Do I have the proper estate plan? Is my portfolio allocation diverse enough? Will I retire on time? Listen at your convenience to one of the longest running financial radio shows on www.moneymatters.com, through iTunes, or you can have podcasts delivered right to your email. Subscribe today. Money Matters: Entertainment that educates. Join the conversation, ask Scott and Pat your financial questions, by sending an email to questions@moneymatters.com.

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Episodes 300

Early Retirement: Mega Backdoor Roths, Direct Indexing & Private Equity
yesterday · 57:14
Can you retire early with private equity, direct indexing, and a mega backdoor Roth? In this episode of Money Matters, Scott and Pat help one investor weigh big decisions—from helping adult children buy homes to managing portfolio risk—before an aggressive retirement. Then, they follow up with a high-income saver who put their "mega backdoor" advice into action and is now looking at direct indexing for better tax efficiency. From choosing the right advisor to making smarter investment moves, early retirement planning means getting the details right. Because a secure retirement isn’t just about
Protecting Wealth: Taxes, Concentrated Stock and Risk
8d ago · 42:13
How do you protect a lifetime of savings when tax laws and changing life goals shift your priorities? In this episode of Money Matters, Scott and Pat explore wealth preservation, from managing concentrated stock positions and real estate decisions to sophisticated tax planning. In this episode: The $5.6M Property Test: Scott and Pat analyze a caller’s plan to carry three homes in retirement. They discuss “carry risk” and why even a $5.6 million net worth doesn’t automatically justify expanding a real estate portfolio. Savings Trade-Offs at 52: A caller asks how to balance college costs for two
$3M+ Retirement: Long-Term Care, Early Inheritances & The "3 C's" Strategy
15d ago · 44:10
Are you prepared for the complexities of a high-value retirement? In this episode of Allworth’s Money Matters, Scott and Pat break down real-world case studies for a $3M+ retirement, specifically focusing on the math behind long-term care, the tax implications of early inheritances, and a powerful framework for tax efficiency known as the "3 C's." In this episode, Scott and Pat discuss: The Long-Term Care Dilemma: They analyze a $3.7M case study where the caller is retiring abroad. Does she actually need long-term care insurance, or can she "self-insure"? Scott and Pat explain the "elimination
AI Investing Insights & Strategies for RSUs and Roth Conversions
22d ago · 57:55
In an economy where AI is reshaping the landscape, how should a sophisticated investor respond? In this episode of Money Matters, Scott and Pat are joined by Dr. Apollo Lupescu from Dimensional Fund Advisors to discuss the "AI Ownership Machine" and how to manage portfolio concentration. Plus, Scott and Pat answer a caller’s questions on maximizing RSUs and utilizing advanced tax-saving vehicles. What You’ll Learn: The "Ownership Machine" vs. Gambling: Learn why shifting your mindset from "betting" on stocks to becoming a part-owner of a business is the key to long-term rational decision-makin
Case Studies: Protecting Your Legacy from IRA and Insurance Traps
29d ago · 42:39
In this episode of Allworth’s Money Matters, Scott and Pat take a deep dive into two real-world case studies that highlight the critical difference between being sold a product and receiving fiduciary advice. First, they talk with a caller managing a $4.5 million estate who has been pitched a complex whole-life insurance strategy. Then, they address a $1.4 million retirement dilemma involving inherited assets and the "liquidity gap." What you’ll learn in this episode: The Whole Life Red Flag: Why insurance "leverage" strategies often benefit the advisor more than the client. Inherited IRA Mast
Multi-Million Dollar Retirement: Roth Conversions & Estate Planning
1mo ago · 55:11
What does it take to manage a multi-million dollar portfolio once you’ve stopped adding to it? In this episode of Money Matters, Scott and Pat dive into the complexities of high-net-worth retirement, focusing on the critical shift from "saving" to "strategic spending." Through real-world case studies, they explore why "tax location" is often more important than "tax allocation," particularly when it comes to bonds and individual stocks. They also tackle the psychological side of wealth—learning how to upgrade your standard of living and find joy in charitable giving through "warm hand" estate
$2.1M Gifting & Business Exits: Estate Planning Case Studies
1mo ago · 49:23
How do you turn a "jackpot moment" into a lasting family legacy? In this episode of Allworth’s Money Matters, Scott is joined by partner advisor Richard Del Monte (while Pat is on vacation) to tackle the complexities of wealth transitions and family gifting. Through a $2.1 million case study, the team discusses how to support adult children through "giving while living" without creating family conflict. Then, Simone Devenny, Allworth’s Head of Private Wealth Strategies, joins to share a masterclass in succession planning for business owners. Using a multi-million dollar business exit as a guid
$450k Salaries & $1.1M Portfolios: Two Retirement Case Studies
1mo ago · 37:51
While Pat is on vacation, Scott and partner advisor Richard Del Monte break down two high-stakes financial scenarios that highlight the difference between "good on paper" and "good in practice." Through two detailed caller case studies, they explore: Case Study 1: The $450k New Doctor. After 15 years of medical training, a 32-year-old is finally hitting a massive salary. But with multiple retirement options like 403(b)s and non-governmental 457 plans, her father is worried about "tying her hands" too early. Scott and Richard explain why some retirement plans are actually "traps" for young high
Roth Conversions & The $5M Case Study: Is Your Portfolio Too Concentrated?
1mo ago · 39:59
In this episode of Money Matters, Scott and Pat dive into a $5M client case study on the hidden dangers of stock concentration and explain why a $1.5M Roth conversion might be your smartest tax move. They also tackle direct indexing and welcome Allworth partner advisor Victoria Bogner to share the story of "Jim and Karen." You’ll hear how this retired couple unknowingly had 35% of their $5 million portfolio tied up in just eight stocks—and how a shift in "asset location" saved them six figures in projected taxes. Key Topics Included: -Roth Conversion Strategies: Managing large pre-tax balances
$10M Retirement: The Tax Mistake High Earners Make
2mo ago · 41:02
Can you support your adult children without derailing your retirement? In this episode of Money Matters, Scott and Pat dive into the financial realities of a caller with a nearly $10M net worth who is spending $75,000 a year to support his adult daughter. They break down the math on his retirement timeline and uncover a common "tax efficiency" mistake that could be costing him significant returns. Also in this episode: The "Shell Game" of State Budgets: How budget constraints in states like California could impact your long-term security. Roth Conversions & Moving States: Why a move from Calif
Managing AI Risk, Roth Strategies, and the Annuity Trap
2mo ago · 40:32
Is the current AI boom a repeat of 1999? In this episode of Money Matters, Scott and Pat dive into the "irrational exuberance" surrounding tech IPOs and the hidden dangers of concentration risk in a high-net-worth portfolio. Plus, they break down real-world case studies on tax efficiency and retirement income. What You’ll Learn: The AI "Froth" Factor: Why 97x revenue valuations for new IPOs are a warning sign for diversified investors and how to manage concentration risk in big tech. The Roth Conversion Reality Check: A $1.1M case study on why "pre-paying" taxes through a Roth conversion isn't
Roth Conversion Strategies: Should You Convert or Keep Your IRA?
2mo ago · 51:04
When does a Roth Conversion make sense—and when could it be a costly mistake? In this episode of Money Matters, Scott and Pat tackle one of the most common retirement planning questions: whether a Roth Conversion is the right move for your financial future. They break down a real-life caller’s situation involving IRAs, pensions, charitable giving, required minimum distributions (RMDs), and the tax implications of converting retirement assets. The show also features an emotional conversation with Laura, a member of the “sandwich generation” who is balancing retirement planning while supporting
Tax Efficient Strategies for Million-Dollar Portfolios: Roth Conversions, AI Investing & Stock Risk Management
2mo ago · 50:39
How do you make smart financial decisions after you've already built significant wealth? In this week's episode of Allworth's Money Matters, Scott and Pat help a retired couple with an $11 million portfolio evaluate Roth conversions, estate planning, charitable giving, and strategies to improve tax efficiency. Then they speak with a 52-year-old listener navigating uncertainty in the alcohol industry while balancing retirement savings, college expenses, and cash reserves. Should he use taxable assets to maximize his 401(k) contributions? Scott and Pat weigh in. The episode also features Allwort
Roth Conversions, Retirement Tax Planning & How Much House Retirees Can Afford
3mo ago · 42:39
After decades of saving and investing, how do you know when it’s okay to truly enjoy your money? In this episode of Money Matters, Scott and Pat help a couple with nearly $8 million determine how much home they can comfortably afford after relocating to Florida, while another listener with more than $12 million asks whether Roth conversions still make sense given today’s tax rules and retirement tax planning environment. They discuss retirement tax planning strategies, the dangers of chasing “popular” AI stocks, and how AI-powered scams are targeting investors and older Americans. What You’ll
The Psychology of Investing & Retirement: Why Smart Investors Still Fear Spending Money
3mo ago · 41:30
Why do so many successful investors struggle to actually enjoy the wealth they’ve built? In this Memorial Day weekend episode of Allworth’s Money Matters, Scott and Pat talk with UCLA professor and behavioral expert Hal Hershfield and explore the emotional side of money, retirement, and investing. From fear of running out of money to recency bias and loss aversion, this episode dives deep into the hidden psychological forces that shape financial decisions — even for millionaires. If you’ve ever wondered why investors panic during market drops, hesitate to spend in retirement, or obsess over pa
Real-Life Investing Decisions: How to Simplify Retirement, Taxes, and Financial Planning
3mo ago · 47:59
When it comes to investing, the most important decisions aren’t made in theory—they happen in real life. In this episode of Allworth’s Money Matters, Scott and Pat answer real listener calls and break down how smart investing decisions actually play out. Martha, a 79-year-old retiree with $4–5 million, considers a complex investing strategy involving direct indexing to generate tax losses and improve tax efficient investing strategies. But does this level of complexity actually benefit her portfolio—or just add unnecessary risk? Then Dennis, age 51, with nearly $2.3 million saved and major exp
How Much Money Do You Need to Retire? Real Calls on Inheritance and Spending
3mo ago · 35:15
A good financial plan isn’t just about retirement—it’s about how all the pieces of your financial life fit together. In this episode of Money Matters, Scott and Pat talk with a caller who already has about $2 million and expects a much larger inheritance—but still struggles to spend any of it. They walk through why that happens and how a financial plan can help ease into actually using the money. They also take a call from a high-income couple earning around $600,000 a year. Even with strong savings, there are still areas being overlooked, so Scott and Pat explain what a complete financial pla
How to Reduce Taxes in Retirement & Protect Your Kids’ Inheritance
4mo ago · 44:21
If you’ve built significant wealth, knowing how to reduce taxes in retirement can have a major impact on what you keep—and what your kids ultimately receive. In this episode, Scott and Pat walk through two real-life situations: one caller facing large tax exposure from millions in pre-tax accounts, and another trying to make sure their children don’t quickly spend an inheritance. Along the way, they also touch on how areas like private credit and private equity are evolving—and what that means for investors thinking about risk, transparency, and long-term planning. If your goal is to reduce ta
Beyond Index Funds: Advanced Tax Strategies, Direct Indexing & Smart Trust Planning
4mo ago · 41:03
This episode of Money Matters explores advanced tax strategies that go beyond traditional investing to help high earners and retirees maximize efficiency, reduce taxes, and create smarter, more tax-efficient income streams. With Pat out this week, Scott and Allworth advisor Mark Shone break down how strategies like direct indexing, long/short investing, and tax-loss harvesting can unlock new opportunities—especially for those with larger, more complex portfolios. Plus, Scott and Allworth’s Head of Private Wealth Strategies, Simone Devenny, dive into trusts, from simple living trusts to more so
Concentrated Stock Positions: How to Avoid Big Taxes
4mo ago · 37:19
How do you manage a concentrated stock position without getting crushed by taxes? In this episode of Money Matters, Scott is joined by Allworth advisor Mark Shone, who steps in while Pat is away to break down smart, tax-efficient strategies for handling highly appreciated stock positions. They use a real-life case of a recent retiree with nearly $2 million in Apple stock to explore how to reduce risk, diversify, and balance income and legacy goals. Plus, they touch on private credit and real estate trends shaping today’s investment landscape. What You’ll Learn: -How to reduce risk in a concent
Can I Retire With $5 Million? Planning the Next Chapter
4mo ago · 47:37
For many investors, the big question is whether $5 million is enough to retire—and this real-life case study shows how to answer it. With Pat out this week, Scott is joined by Allworth advisor Mark Shone to walk through a $5–6 million household navigating retirement while raising kids, funding college, and managing a second marriage. Scott and Mark break down what really matters when asking if you can retire with $5 million—and how to make that decision with confidence. Plus, a physician with $6M+ asks if being all-in on the S&P 500 is a mistake—and what to do instead. What You’ll Learn: How t
Tax Strategies for Larger Portfolios: Direct Indexing, Estate Planning & What to Avoid
4mo ago · 51:48
In this episode of Money Matters, Scott and Pat react to a listener being pitched a complex direct indexing strategy using margin, while another wrestles with whether setting up trusts for their grandchildren is worth the hassle—breaking down what actually adds value and what doesn’t. They expand into tax strategies for larger portfolios, including when more sophisticated approaches create more cost and complexity than benefit. You’ll also hear practical guidance on estate planning, gifting, RMDs, and charitable giving through QCDs. What You’ll Learn: When a direct indexing strategy using marg
Roth Conversion Strategy, Tax Planning and Wealth Transfer for High Net Worth Investors
5mo ago · 53:07
In this episode of Money Matters, Scott and Pat take calls from high-income listeners facing real financial crossroads—from deciding whether to return to work to navigating major portfolio and tax decisions. Along the way, they break down when a Roth conversion strategy makes sense, how taxes impact big financial decisions, and why timing and sequencing can have a long-term effect on wealth. The conversation also covers portfolio risk, income needs, and how to approach leaving money to the next generation without overcomplicating the process. Scott and Pat explain how a well-thought-out Roth c
Smart Tax Strategies for High Net Worth Investors
5mo ago · 45:22
In this episode of Money Matters, Scott and Pat break down real-world tax strategies for high net worth investors dealing with multi-million dollar IRAs, brokerage accounts, and rising future tax liabilities. They walk through detailed listener cases—including a couple with over $18 million in assets trying to minimize RMD taxes, IRMAA surcharges, and legacy tax burdens—while sharing actionable tax strategies for high net worth investors. Here’s what you’ll learn: How to handle upcoming RMDs on multi-million dollar retirement accounts Why Roth conversions may have limited impact at higher inco
Roth Conversion & Direct Indexing Strategies
5mo ago · 42:52
In this episode of Money Matters, Scott and Pat break down smart Roth conversion strategies for retirees who want to reduce lifetime taxes, manage future RMDs, and avoid costly bracket mistakes. A caller with $4+ million asks how much to convert each year — and whether moving IRA withdrawals into a brokerage account makes sense as part of a long-term Roth conversion plan. They also discuss direct indexing, including how it works, whether low-cost providers are safe, and when direct indexing makes sense compared to backdoor Roth contributions. Plus, a real client case study highlights asset loc

Episodes

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Money Matters by Allworth Financial

Episodes 300

Early Retirement: Mega Backdoor Roths, Direct Indexing & Private Equity

Protecting Wealth: Taxes, Concentrated Stock and Risk

$3M+ Retirement: Long-Term Care, Early Inheritances & The "3 C's" Strategy

AI Investing Insights & Strategies for RSUs and Roth Conversions

Case Studies: Protecting Your Legacy from IRA and Insurance Traps

Multi-Million Dollar Retirement: Roth Conversions & Estate Planning

$2.1M Gifting & Business Exits: Estate Planning Case Studies

$450k Salaries & $1.1M Portfolios: Two Retirement Case Studies

Roth Conversions & The $5M Case Study: Is Your Portfolio Too Concentrated?

$10M Retirement: The Tax Mistake High Earners Make

Managing AI Risk, Roth Strategies, and the Annuity Trap

Roth Conversion Strategies: Should You Convert or Keep Your IRA?

Tax Efficient Strategies for Million-Dollar Portfolios: Roth Conversions, AI Investing & Stock Risk Management

Roth Conversions, Retirement Tax Planning & How Much House Retirees Can Afford

The Psychology of Investing & Retirement: Why Smart Investors Still Fear Spending Money

Real-Life Investing Decisions: How to Simplify Retirement, Taxes, and Financial Planning

How Much Money Do You Need to Retire? Real Calls on Inheritance and Spending

How to Reduce Taxes in Retirement & Protect Your Kids’ Inheritance

Beyond Index Funds: Advanced Tax Strategies, Direct Indexing & Smart Trust Planning

Concentrated Stock Positions: How to Avoid Big Taxes

Can I Retire With $5 Million? Planning the Next Chapter

Tax Strategies for Larger Portfolios: Direct Indexing, Estate Planning & What to Avoid

Roth Conversion Strategy, Tax Planning and Wealth Transfer for High Net Worth Investors

Smart Tax Strategies for High Net Worth Investors

Roth Conversion & Direct Indexing Strategies

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