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On this week’s Hanson McClain’s Money Matters, Scott and Pat talk about the mismanagement of retirement savings, and how the fear of missing out drives people to take on more risk than they should. They also take several calls on everything from Social Security to 401(K) management.

Scott and Pat take a call from a woman who previously worked in the private sector and is now interested in working for the federal government and wants to know if she would lose her Social Security benefits. A woman is calling on behalf of her husband and wants to know what to do about the limited options in his 401(k). A man has $60,000 in cash that he needs to keep semi-liquid and doesn’t want to take on much risk but wants to know where he should invest the money. A man who has several rental properties and wants to know if he should stop contributing to his 401(k) and only invest in real estate. A 60-year-old man who has a pension that nets about $1,000 a week after taxes and health care, wants to know if he should take Social Security at 62 or wait until his full retirement age.