Money Matters by Allworth Financial

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 thro...

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 aging parents and a special-needs child. S...

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 Allworth advisor Laurie Ingwersen, who explains how investors with...

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...

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 past financia...

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 expenses ahead, faces key invest...

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 an...

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 red...

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 sophisticated estate planning tools.

What You’...

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 redu...

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 inste...

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:

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 conversion strategy fits into a...

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:

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 location, ET...

In this episode of Money Matters, Scott and Pat unpack why tax diversification is one of the most overlooked strategies in retirement planning. From a 70-year-old investor with $3.6 million mostly in traditional IRAs to a 55-year-old looking to retire early and start Roth conversions, they explore how tax diversification can help reduce lifetime taxes and create flexibility in retirement income.

You’ll hear discussions about:

-When Roth conversions make sense — and which tax bracket to target

-How much cash and bond exposure you really need before retiring

-The realities of the 4% rule...

In this episode of Money Matters, Scott and Pat walk through smart decisions around Roth vs. pre-tax savings, pension lump sums, and when it actually makes sense to use your HSA. They help a high-earning family think through life insurance gaps and special needs planning, guide a soon-to-be retiree through a $1 million pension decision, and revisit a multi-million-dollar couple debating whether to spend or preserve a large HSA. From tax diversification to retirement income strategy to how certain accounts are treated at death, this episode shows the difference between surface-level investing and true financial planning for $2M+ portfolios.

Taxes can quietly shape some of the biggest financial decisions you’ll ever make — from choosing how to take a pension to deciding how to leave money to your heirs. On this week’s Money Matters, Scott and Pat take calls from listeners working through those exact issues. One caller is weighing a pension lump sum against monthly payments, and the tax consequences of that decision become central to the conversation. The guys also discuss how asset location affects tax efficiency, why different accounts are taxed differently, and how thoughtful planning can help reduce unnecessary taxes over time. They even e...

In this episode of Money Matters, Scott and Pat take calls from high-net-worth listeners who uncover the same wealthy tax mistake, despite very different financial situations. From retirees with most of their money in IRAs to investors weighing Roth conversions and income strategies, the conversations show how easy it is to pay more in taxes than expected. They explain how this wealthy tax mistake often comes from tax-deferred concentration, why paying taxes from retirement accounts can shrink cash flow, and how poor timing can quietly turn into a long-term wealthy tax mistake. If you’ve built significant assets and wa...

In this episode of Money Matters, Scott and Pat answer listener questions and explain when Roth conversions make sense, when they don’t, and how taxes, IRMAA Medicare surcharges, and market volatility can change retirement outcomes. They discuss strategic gifting to adult children, helping fund Roth IRAs, 401(k)s, and HSAs without killing motivation, and walk through a real call from a retired teacher debating whether converting his accounts is worth it. Along the way, Scott and Pat break down the math behind Roth conversions, explain how pensions and Social Security affect the results, and why paying conversion taxes fr...

In this episode of Money Matters, Scott and Pat break down a big shift for higher earners: the new 401(k) Roth rule that changes how catch-up contributions work. If you’re over 50 and earning a solid income, this could seriously affect your retirement plan.

They also cover smarter tax strategies and take listener calls. A recent retiree wonders if buying a rental property makes sense. Then, Scott and Pat help a man from Virginia with a textbook example of how to balance pensions, Roth IRAs, and tax diversification as retirement nears.

Whether you're saving, converting, or...

In this episode of Money Matters, Scott and Pat talk to two millionaires at different financial stages — one caller with $8 million asking about Roth conversions and tax strategy, and another navigating retirement planning with a $1.4 million portfolio. Scott and Pat break down how Roth conversions can optimize long-term savings, where annuities fit into today’s market, and how both investors are managing wealth amid rising volatility. If you're exploring Roth conversions or simply looking to protect and grow your nest egg, this episode is packed with actionable advice.

Join Money Matters:  Get your most pressing financial questions answe...

In this episode of Money Matters, Scott and Pat talk with listeners about decisions around Roth conversions, tax brackets, gifting to kids, and when to start taking money from retirement accounts. One caller is trying to figure out how to simplify things after working with five different advisors. Another wants to use savings to travel without getting pushed into a higher tax bracket. Plus, Allworth’s Head of Wealth Planning, Victoria Bogner, joins the show to share a case where someone had 35 investment accounts—and how the team helped clean it up. It’s a good reminder that sometimes the be...

In this episode of Money Matters, Scott and Pat dive into real-world financial decisions faced by high-net-worth families. One caller seeks guidance on managing his 87-year-old mother’s $1 million nest egg, while another—with $8 million saved—is questioning whether a QLAC is necessary.

The $8 million decision opens the door to meaningful conversations around trust planning, emotional risk tolerance, and why simplicity often beats complexity—especially when family is involved. You’ll also hear insights on gifting strategies, changes to Social Security rules, and what to consider when planning for longevity.

Whether you're managing $1 million or $8 million, t...

In this episode of Money Matters, Scott and Pat tackle real-world financial planning questions from callers at very different life stages. One listener, with over a million dollars in assets, asks whether he should prioritize his 401(k) or a Roth IRA. The conversation dives into smart strategies for high-net-worth investors, addressing how to balance tax efficiency, retirement goals, and current lifestyle needs.

Scott and Pat also explain how financial planning helps clarify trade-offs between spending now and securing your future. Whether you're looking for smarter retirement contributions or long-term portfolio strategy, this episode delivers actionable advice with...

In this episode of Money Matters, Scott and Pat tackle real-world financial planning questions that could save you thousands. They cover key tax-savvy income strategies, help a caller decide whether to cash out a $350K whole life insurance policy, and clarify the confusing tax rules on after-tax IRA contributions.

You’ll also hear how one investor turned a concentrated stock position into $90K in annual income—without selling a single share. This smart use of covered calls shows how modern income strategies are evolving beyond traditional methods.

And yes, they weigh in on the latest hype...

What would you do with over $6 million? In this episode of Allworth’s Money Matters, Scott and Pat take a call from a couple in their early 60s with a net worth exceeding $6 million. The big question: should they use funds from their Roth IRA or brokerage account to cover a major expense? The conversation explores smart strategies for managing cash flow, deciding which accounts to draw from (Roth IRA vs. taxable), and why proactive tax planning is critical.

Plus, the guys break down the concept of defined contribution plans and when they make sense—especially for high...

In this episode of Money Matters, Scott and Pat explore three of the most underappreciated but powerful financial planning tools: Roth conversions, donor-advised funds, and bond funds. They break down when and how to use each of them—especially before year-end—to reduce taxes, improve portfolio efficiency, and boost long-term flexibility.

You’ll hear real stories from listeners making million-dollar decisions, like whether to hire a financial advisor, how to prepare your spouse to take over financial responsibilities, and how to structure your retirement income when you’re asset-rich but cash-flow light.

From strategic charitable giving t...

On this week’s Money Matters, Scott and Pat help a caller streamline her financial life by consolidating accounts — discussing key differences between IRAs and 401(k)s, asset protection considerations, and how annuities can fit into a broader financial planning strategy for long-term freedom.

Next, they talk with a caller navigating what to do with a $1 million 401(k) after a career transition. Scott and Pat break down the pros and cons of rolling funds into an IRA versus keeping them in an employer plan, with an eye on long-term tax flexibility, investment control, and strategic financial planning.

In this packed episode of Money Matters, Scott and Pat talk with Simone Devenny, Allworth’s Head of Private Wealth Strategies, about smart planning before selling a business—covering tax-saving strategies, timing, emotional readiness, and more. Then, a caller shares how he sold his startup for $1.2 million, while another longtime educator seeks guidance on managing a $317,000 lump sum. Whether you're prepping for a sale or figuring out your next big financial step, this episode is full of practical advice to help you sharpen your business exit strategy, minimize taxes, and take control of your financial future.

Join Mone...

In this value-packed episode of Allworth’s Money Matters, Scott and Pat unpack key financial strategies for high-net-worth investors navigating today’s markets. From the overlooked need for regular portfolio rebalancing to smart planning for concentrated executive stock, they break down real-world scenarios with millions at stake.

You'll hear a listener case involving $7M in assets, HSA withdrawal tactics, and 529 planning for seven grandkids—all through the lens of tax-smart wealth transfer. Plus, expert insights from Allworth’s Head of Wealth Planning, Victoria Bogner, on avoiding massive tax traps with RSUs, ISOs, and stock options.

Join Mon...

On this week’s Money Matters, Scott and Pat take a call from a listener sitting on a $9 million nest egg—$4.5 million in a taxable account, $3 million in Roth, and $1.6 million in a traditional IRA. He doesn’t need more growth, he’s not worried about his own retirement, and now he’s asking: Should we start helping the kids financially now, or wait? The twist? His kids don’t want the money—and he doesn’t want to mess up their independence. It’s a real-world conversation about smart gifting, capital gains strategy, and how to share your wealth without reg...

On this week’s Money Matters, Scott and Pat open the show with a look at the Magnificent Seven stocks. Is this tech dominance a warning sign or just the new market normal? They unpack what this concentration means for index investors and why historical perspective matters.

Next, they take a call from a 56-year-old tech professional navigating a surprise layoff and considering early retirement. With over $2M in assets and plans to relocate, they walk through whether he can afford to stop working—or if some part-time income is essential. It’s a timely breakdown of early...

On this week’s Money Matters, Scott and Pat tackle three critical financial planning decisions for high-net-worth investors. First, they break down whether it’s better to self-insure for long-term care or rely on costly, often restrictive hybrid policies. Next, they explain how to rebalance an inherited portfolio, especially when legacy holdings no longer align with your goals or risk tolerance. Then, they dive into how to finance a vacation home wisely—weighing the risks of portfolio loans, capital gains exposure, and over-leveraging in retirement.

You’ll also hear a sharp analysis of gold’s recent surge—and why emot...

On this week’s Money Matters, Scott and Pat ask the trillion-dollar question: Is AI investing the next dot-com bubble or a real economic shift? They revisit the 1999 tech mania to help make sense of today’s AI investing hype—and how to avoid repeating history.

They also tackle real-world questions around estate planning, including managing finances for a 97-year-old parent, family trust tensions, and how to avoid costly mistakes. Plus, the truth behind those “safe” 6% return promises—and what they really mean for your money.

Whether you're curious about AI investing, revisiting your estate plan, or jus...

On this week’s Money Matters, Scott and Pat answer real listener questions about how to make the most of your 401(k) — from handling tithes and required minimum distributions to maximizing Roth conversions and managing multimillion-dollar retirement portfolios.

You’ll hear stories from callers navigating retirement income, tax-efficient giving, and long-term wealth transfer — including a follow-up from a listener managing $5 million across IRAs and 401(k) accounts while planning for inheritance and charitable impact.

With candid insights and practical advice, Scott and Pat explain how smart 401(k) and IRA strategies can help you reduce taxes, simplify withdraw...

Markets look strong—but are they too perfect? On this week’s Money Matters, Scott and Pat explore how to stress test your financial plan so it can hold up in the real world. They take a call from a 63-year-old retiree with a $6 million portfolio who’s rethinking his Roth conversions and Social Security timing, then talk with a 47-year-old state employee balancing burnout, real estate, and early retirement goals. Finally, Allworth’s Head of Wealth Planning, Victoria Bogner, joins to explain how taxes, Medicare, and market strategy all connect inside a resilient financial plan. If you’ve ever wonde...

On this week’s Money Matters, Scott and Pat break down just how complex the tax system has become—and why staying ahead of the changes matters more than ever. You’ll hear from one caller trying to track down the value of old savings certificates from the 1980s, another wrestling with how to allocate investments for better tax efficiency, and a listener who made major changes after Scott and Pat helped him realize the true cost of a Variable Universal Life (VUL) insurance plan. If you’ve ever wondered whether your tax strategy is working for you—or against yo...

Is the AI boom driving markets too far, too fast? On this week’s Money Matters, Scott and Pat debate whether stock prices can keep up with earnings—or if investors should brace for a correction. Then, they tackle the 4% retirement withdrawal rule, explaining its history, its flaws, and how real retirees actually spend. Listener calls bring the conversation to life, with questions on 401(k) rollovers, 403(b) vs. 457 plans, and the latest Social Security changes. Finally, Scott and Pat share candid insights on why so many savers struggle to spend in retirement—and how to strike a healthy balance. Whether...

Roth conversions can save you thousands in taxes — but only if you know when and how to use them. On this BONUS EPISODE of Money Matters, Scott and Pat take listener calls that reveal the importance of strategy, trust, and risk management in retirement planning.

They begin with a caller asking about complicated yield notes, sparking a discussion on portfolio risk management and why trusting the right financial advisor matters more than chasing products.

Next, another listener wants to understand Roth conversions and Social Security timing — and Scott and Pat explain when Roth conversions make the...