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Speaker 1: All these years you've saved up planning for a secure retirement,

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Speaker 1: but if you're not careful, it will be the irs

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Speaker 1: that's living it up when you retire by taxing your

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Speaker 1: hard earned money. Welcome to the Maggie Tax and Financial

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Speaker 1: Hour with Robert and Chris Maggie of Maggie Tax Advisory

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Speaker 1: and Financial Group. With over thirty years of combined experience

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Speaker 1: and tax savings, income planning and investment opportunities, Robert and

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Speaker 1: Chris share advice and tax planning strategies designed to protect

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Speaker 1: your retirement nest egg from Uncle Sam. Your questions and

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Speaker 1: comments are welcome during today's program by calling eight one

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Speaker 1: three three two two twenty five twenty. That's eight one

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Speaker 1: three three two two twenty five twenty or visit Maggie

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Speaker 1: Tax dot com. That's Maggi tax dot com and now

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Speaker 1: your host for the Maggie Tax Financial Hour on nine

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Speaker 1: seventy WFLA. Robert and Chris Maggie.

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Speaker 2: Hello and welcome everyone to the Maggie Tax in Financial Show.

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Speaker 2: My name is Robert Maggie and I'm here with Chris Maggie.

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Speaker 2: And don't forget visit our website, Maggie Tax dot Com.

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Speaker 2: Click on seminars and register for our free three in

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Speaker 2: one seminar on estate planning, tax planning, and social security planning. Folks,

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Speaker 2: this is educational, it's free and you might learn a

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Speaker 2: lot because a lot of people have a lot of questions.

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Speaker 2: So tune in also every Sunday on ABC TV at

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Speaker 2: ten thirty to The Maggie Tax and Financial Show. So, Chris,

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Speaker 2: we have a lot to discuss because we see a

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Speaker 2: lot of people all the time. I think the biggest

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Speaker 2: question that they get how do I do this? What

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Speaker 2: do I do? Where do I go? And it's you know,

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Speaker 2: a bunch of questions. So let's talk today about how

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Speaker 2: they create a financial plan more importantly with their partner.

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Speaker 3: Well, I just said, so welcome everyone. I am Chris Maggie,

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Speaker 3: and thank you so much for tuning in today and

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Speaker 3: each and every week. We enjoy doing what we do.

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Speaker 3: We have a passion for helping people and you know

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Speaker 3: it shows because there's so much there to help you.

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Speaker 3: We do complete planning. It's income planning, tax planning, investment planning,

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Speaker 3: a state planning, social security maximization planning, and real quick

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Speaker 3: before we get going in today's show, at a client

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Speaker 3: that came in last week. They were paying unnecessary taxes.

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Speaker 3: They paid three thousand dollars a year in federal taxes

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Speaker 3: that they did not have to pay. Why because the

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Speaker 3: advisor that they're working with does not do complete planning.

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Speaker 3: They showed the current client how to take money out

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Speaker 3: of their IRA, a wrong distribution and it caused them

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Speaker 3: three thousand dollars in taxes for the past three years.

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Speaker 3: If they would have done proper sold security maximization planning

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Speaker 3: and investment planning, guess what, they would have avoided the

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Speaker 3: three thousand dollars a year federal tax for the past

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Speaker 3: three years. We got to save them nine thousand dollars

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Speaker 3: in taxes. So when they came in and met with us,

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Speaker 3: we did the sold Security Maximization report. We showed them

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Speaker 3: how to take solid security and guess what now they

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Speaker 3: get the same income on a most tax efficient way.

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Speaker 3: That is complete planning and that's what people need out there.

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Speaker 3: So pick up the phone, schedule time to meet with us,

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Speaker 3: eate three to three Maggi Tax. Visit our website at

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Speaker 3: Maggi tax dot com and register for one of our seminars.

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Speaker 3: Education is so important, or just pick up the phone

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Speaker 3: schedule time to meet with us any one of our

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Speaker 3: three locations eight three to three Maggie Tax.

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Speaker 2: And the cool thing about this, the gentleman came to

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Speaker 2: our seminar, the three and one seminar, and when we

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Speaker 2: came to the seminari said, I had no idea you

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Speaker 2: guys do all this. So when he came in and

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Speaker 2: we showed him what Chris just mentioned, he was blown

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Speaker 2: away because he said, this is ridiculous. You know, I'm

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Speaker 2: not getting the proper training or the proper information from

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Speaker 2: my advisor. So we made a change and we made

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Speaker 2: it better for him. So today we're going to discuss

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Speaker 2: how do I create a financial plan with my partner

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Speaker 2: Because a lot of you out there are married. Maybe

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Speaker 2: the husband knows more than the wife, or the wife

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Speaker 2: does more than the husband. Either way, there's got to

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Speaker 2: be a time when you come together when you have

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Speaker 2: to put a plan together. So how do you find

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Speaker 2: a financial advisor to execute the plan. That's what we do.

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Speaker 2: So we're offering everyone that advice to come to the seminar,

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Speaker 2: get educated, have the questions answered, and then come in

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Speaker 2: and put a plan together. And visit our website at

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Speaker 2: Maggie Tax dot com. We have so many videos on there,

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Speaker 2: all topics that concern many of you, and be shure

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Speaker 2: register for the free three and one seminar. We have

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Speaker 2: it every week, so take a look at it on

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Speaker 2: a state and enhanced planning, social security and taxes. And

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Speaker 2: if your advisor is not talking to you about this,

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Speaker 2: shame on them. So all of these topics play an

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Speaker 2: important part in putting a plan together. So Chris, let's

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Speaker 2: get started. Because there's so many questions. We'll address all

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Speaker 2: of them and let's see how we can help the

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Speaker 2: folks out there put a plan together.

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Speaker 3: That's right, so visit Maggi Tax dot com. Our number

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Speaker 3: is eight three to three. Magi Tax and money is

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Speaker 3: often the center point of many arguments. You know, even

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Speaker 3: amongst long term partners, it's only human nature to be

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Speaker 3: protective over our hard earned property. But rather than letting

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Speaker 3: financial choices be the main problem of your relationship, it's

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Speaker 3: so important to come together to meet both of your goals.

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Speaker 3: Communication is extremely important and a Magi Tax Advisory, we

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Speaker 3: will show you the best way to create a financial

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Speaker 3: plan with your partner so you both can reap the

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Speaker 3: rewards of success. You work hard, you put money away.

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Speaker 3: You know you have an investment plan. Now is time

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Speaker 3: for the distribution plan. How do you go about doing

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Speaker 3: that in the most tax efficient way?

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Speaker 2: You know, Chris. And the biggest thing, I bet a

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Speaker 2: lot of people out there are listening to what you

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Speaker 2: just said. The time comes when someone passes away, when

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Speaker 2: it all comes to the top and it's confusion and

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Speaker 2: it's just terror. It's terrible because they don't know what

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Speaker 2: to do. So this is important to put a plan

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Speaker 2: together before things happen. And that's what we talk about.

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Speaker 2: When do the estate planning and the tax planning and

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Speaker 2: the SOLI security planning.

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Speaker 3: Absolutely, and the Maggi plan applies to all of you

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Speaker 3: because it's a tax plan, it's an income plan, it's

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Speaker 3: an investment plan, and for everyone listening today, it's in

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Speaker 3: a state an enhanced plan. So if you're arguing or disagreeing,

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Speaker 3: now is a time to get a plan that you

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Speaker 3: both can agree on. Attend one of our three in

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Speaker 3: one free seminars on a state planning and enhance planning,

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Speaker 3: SOLI security planning, and tax planning, also investment planning. My gosh,

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Speaker 3: there's so much information valuable right there are your fingertips

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Speaker 3: that you just don't get. You don't get at the workplace,

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Speaker 3: you don't get at home. You know, you don't go

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Speaker 3: out with your friends to get this information. You need

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Speaker 3: this information, So pick up the phone, schedule time to

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Speaker 3: come to visit us at a three to three Magi

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Speaker 3: tacks or visit Maggi tax dot com.

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Speaker 2: And one thing we always say, simple and easy to understand.

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Speaker 2: And you know, we encourage open and honest communication. So

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Speaker 2: when you come in, if we meet with you, there's

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Speaker 2: a question and answer time that we want to give

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Speaker 2: you so we can answer your questions and you can

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Speaker 2: answer ours honestly, because if you don't tell the truth,

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Speaker 2: then it's going to disrupt the plan. The most important

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Speaker 2: part about discussing financial plans with your partner is for

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Speaker 2: both sides to be completely honest and transparent about personal

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Speaker 2: financial goals and concerns. And Chris, many times when we

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Speaker 2: see people they say, well, you know, I want risk

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Speaker 2: and my husband want I want safety. My husband wants risk.

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Speaker 2: That's a tough road to cross because we got to

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Speaker 2: get in the middle. But the way I look at it,

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Speaker 2: you've seen this, they just don't understand what they're saying.

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Speaker 2: That's it.

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Speaker 3: But the main concern that we see amongst a lot

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Speaker 3: of people is the common theme is they need income.

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Speaker 3: They want income. They don't want to run out of money.

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Speaker 3: They need income sources. So it doesn't matter if you

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Speaker 3: have two hundred thousand or or fifty million, it doesn't matter.

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Speaker 3: The fact of the matter is most people out there

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Speaker 3: they want the same thing. They don't want to run

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Speaker 3: out of money. So that's why it's important to meet

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Speaker 3: with us because let's put together those types of plans

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Speaker 3: for you.

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Speaker 2: So any thoughts that.

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Speaker 3: You might have are withheld could come back to serve

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Speaker 3: as a point of contention later on. So that's why

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Speaker 3: we talk about clarity and openness. It's best to get

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Speaker 3: everything out on the open while you both have high

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Speaker 3: hopes for a brighter future. So take a moment to

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Speaker 3: evaluate your current financial situation and we can help you

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Speaker 3: make it easy to understand. So after discussing your main goals,

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Speaker 3: you need to compare them to your current financial situation.

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Speaker 3: And when you come in to meet with us, you

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Speaker 3: can't get a second opinion from your current advisor. So

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Speaker 3: that's why it's so important to meet with us. We

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Speaker 3: will give you that second opinion. So when you meet

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Speaker 3: with us, we will compare your current plan and show

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Speaker 3: you options to improve what you have, and then you

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Speaker 3: can make a decision on what you want to do.

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Speaker 3: If it's better, then make it. If it's not, then

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Speaker 3: you don't have to. But the end of the day,

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Speaker 3: you need to embrace what you have and also have

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Speaker 3: the goals be accomplished at some point so you can

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Speaker 3: move on with clarity and confidence in your retirement.

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Speaker 2: Well, one thing you mentioned before, We had a client

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Speaker 2: that basically said they were intimidated by their advisor. And

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Speaker 2: my question is what we asked her? How long of

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Speaker 2: you had the advisor? Well, we've had him twenty years

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Speaker 2: and I just can't break the relationship. Guys, Well, the

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Speaker 2: question is, look what he's done for you. He hasn't

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Speaker 2: done anything for you. So when we did the comparison,

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Speaker 2: Chris is talking about our plan was more, was better

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Speaker 2: than their plan? And she said it, she said, guys,

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Speaker 2: this is the plan that I want. What do I do?

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Speaker 2: But she was afraid to be talking to her advisor

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Speaker 2: and many of you are because she was intimidated. That's ridiculous.

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Speaker 3: Career, you don't have to be, you know, in the

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Speaker 3: new plan. She had an income plan. She had a

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Speaker 3: tax plan. She was getting income on the most tax

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Speaker 3: efficient way. Now, she had an investment plan. When she

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Speaker 3: had bucket planning, she knew where all her investments were

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Speaker 3: and what they're doing and the risk she was taking

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Speaker 3: with it. She had an inflation bucket plan to that

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Speaker 3: she sprinkled on her plan to go ahead and have

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Speaker 3: the adjustments for inflation in the future. This is what

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Speaker 3: we're talking about. And to make it all come to fruition.

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Speaker 3: She had an estate plan. So God forbid, something happens

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Speaker 3: to her. Guess what, It stays in her family that

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Speaker 3: she didn't even have for twenty years. So her advisor

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Speaker 3: wasn't doing the good job for her. But guess what

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Speaker 3: she didn't. She thought that was the case for so

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Speaker 3: many years, but it wasn't because the advisor did not

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Speaker 3: do complete planning. So pick up the phone, schedule time

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Speaker 3: to meet with us. Let's get together. Let's talk about

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Speaker 3: your situation and see if we can help you.

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Speaker 2: And one other thing, we talk about estate planning without

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Speaker 2: a will, probate court and the estate decide what happens

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Speaker 2: to your assets after you're gone. What Chris just mentioned,

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Speaker 2: many of you that we meet with. Do not have

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Speaker 2: a state planning folks, It's very simple. It's very simple.

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Speaker 2: It costs you less today than more later on, and

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Speaker 2: that's what a lot of people want to avoid probate.

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Speaker 2: What about your tax bill and retirement? Is it too big?

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Speaker 2: Do you even know what it is? Go to my

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Speaker 2: website Maggie tax dot com, click on the retirement calculator

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Speaker 2: on the top right, put in your information if you

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Speaker 2: have a four to one K or an ira, and

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Speaker 2: in thirty seconds, no one has this out there. In

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Speaker 2: thirty seconds, we can tell you what your tax bill

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Speaker 2: is going to be. Why is that important? Because now

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Speaker 2: we're giving you a reason to come in and sit down.

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Speaker 2: Like we mentioned before about the gentleman who was paying

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Speaker 2: more in taxes that he needed to, why would you

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Speaker 2: do that? And one thing we'll get into a little bit,

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Speaker 2: the Secure Act change the required minimum distributions from many

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Speaker 2: people out there, Many people don't even know what that is.

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Speaker 2: So it's very important to understand why Chris and I

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Speaker 2: do these educational seminars. And it's fun, you know. We

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Speaker 2: give out books, we give out a Social Security brochure,

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Speaker 2: we give out tax information, we give out you know,

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Speaker 2: stop funding off of Sam's retirement. Give us a call

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Speaker 2: eight three to three, Maggie Tax. Be sure to visit

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Speaker 2: Maggie tax dot com today, register for one of the

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Speaker 2: seminars and give us a call eight three three Maggie Tax.

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Speaker 2: You're listening to the Maggie Tax and Financial Show. Eight

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Speaker 2: three to three Maggie Tax.

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Speaker 1: Stop planning for Uncle Sam's retirement and start planning for

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Speaker 1: your retirement. As we return to the Maggie Tax and

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Speaker 1: Financial Hour with your host, father and son Robert and

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Speaker 1: Chris Maggie. For additional information on how you can create

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Speaker 1: a tax free retirement, visit Maggie Tax dot com. That's

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Speaker 1: ma Ggi tax dot com or call eight one three

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Speaker 1: three two two twenty five twenty. That's eight one three

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Speaker 1: three two two twenty five twenty now your host for

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Speaker 1: the Maggie Tax and Financial Hour. Father and son from

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Speaker 1: Maggie Tax Advisory in Financial Group, Robert and Chris Maggie.

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Speaker 2: Hello and welcome back to the Maggie Tax and Financial Show.

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Speaker 2: My name is Robert Maggie and I'm here with my

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Speaker 2: son Chris Maggie. A couple things real important for all

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Speaker 2: of you. If you're just tuning in. Go to our website,

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Speaker 2: Maggie tax dot com. On the top right there's the

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Speaker 2: retirement calculator. Click on it and fill in the information.

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Speaker 2: Let's see what your tax bill is going to be,

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Speaker 2: and in thirty seconds we could show you what it is.

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Speaker 2: Number two, there's a chat box on this so if

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Speaker 2: you're driving or you have questions, go to the chatbox,

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Speaker 2: fill in the question. We will respond to you. And

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Speaker 2: more importantly, to educate everybody out there and help them,

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Speaker 2: we're doing seminars every month, so go to the Maggi

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Speaker 2: tax dot com look for upcoming seminars. The dates are there.

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Speaker 2: Register and let's get a chance to meet with you.

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Speaker 2: Because isn't it imperative that all of you reason out

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Speaker 2: for yourself that you can have a strategy under any circumstances.

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Speaker 2: And again, Chris, most people come in and they go, gee, guys,

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Speaker 2: I don't have a lot of money. That's not the

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Speaker 2: question we're asking you. The question we're asking you is

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Speaker 2: how can we help you? So my guess is many

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Speaker 2: of you do not know this information, and it's because

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Speaker 2: you're not asking your advisor why. Because it's the language

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Speaker 2: we talk about the language and many of you do

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Speaker 2: not understand, so we can help. We call it the

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Speaker 2: Maggie Plan, simple and easy to understand. And for many

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Speaker 2: of you that have met with us, you understand what

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Speaker 2: I'm saying because we made it simple and understand. Chris

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Speaker 2: talked about some clients that came in before we talk

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Speaker 2: about this every week. They came in and they were shocked, Wow,

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Speaker 2: I really could do that. So many people in our

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Speaker 2: country believe that the government's going to take care of them. Look,

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Speaker 2: in fact, isn't it the majority of people many of

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Speaker 2: you listening, Sure it is. So how do we get

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Speaker 2: you to understand that it has now become mathematically impossible

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Speaker 2: that the government's going to take care of you? Christen,

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Speaker 2: what's happening is they're doing the opposite. They're making it

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Speaker 2: worse for us. Well, that's just saying, and you can't

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Speaker 2: control that.

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Speaker 3: Right where in Ayoyo economy, you're on your own and

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Speaker 3: many people work hard, you know, they go to have

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Speaker 3: a job, they put money away, they don't know what

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Speaker 3: to do with it. That's where we come in. You know,

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Speaker 3: how do you structure all this where you can have

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Speaker 3: income in the most tax efficient way. How do you

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Speaker 3: structure this where you can have a tax plan where

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Speaker 3: you pay the least amount of taxes possible, but do

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Speaker 3: it legally. How do you put together an investment plan

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Speaker 3: where you have different buckets doing different things to combat inflation?

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Speaker 3: How do you make sure that everything you put together

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Speaker 3: stays in your family and doesn't have to go through

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Speaker 3: the probate process or has to go through taxes or

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Speaker 3: just heartache with other beneficiaries. It doesn't have to happen.

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Speaker 3: It's called succession planning. And how do you put this together?

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Speaker 3: So that's what we're discussing here, And if you have questions,

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Speaker 3: now's the time to stop for a minute, take a

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Speaker 3: deep breath, you know, pick up the phone and schedule

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Speaker 3: a time to meet with us. You know, a goal

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Speaker 3: without a plan is really not going to be achievable.

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Speaker 3: So what do you do. You have to have to

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Speaker 3: schedule time to meet with us. You have to come

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Speaker 3: in and let's let's have a conversation why. Because you

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Speaker 3: deserve it, you put away money. Now is the time

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Speaker 3: to put together a plan.

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Speaker 2: You just brought something up that just hit me. You

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Speaker 2: call it succession planning. Many people call it enhanced planning

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Speaker 2: or estate planning. But talk about succession planning for a minute,

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Speaker 2: because it applies to everything that we're talking about, Chris,

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Speaker 2: about income planning, about tax planning, about four oh one

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Speaker 2: K rollovers. It's about succession planning. How do you get

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Speaker 2: to the next level because people do not understand the language,

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Speaker 2: and if you do not take action, you're simply just

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Speaker 2: going to lose. And if you do take action, you

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Speaker 2: can win. It's that easy. And what I'm saying, it's

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Speaker 2: that easy. Once you learn the and you learn the rules,

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Speaker 2: you can make something happen. And we can help all

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Speaker 2: of you arrive at this important determination because you're probably

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Speaker 2: worrying too much. Why are we sharing this with you?

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Speaker 2: We do this every week, we do our TV show.

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Speaker 2: You know. I've been speaking in person, you know, and

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Speaker 2: on the radio and on TV for years, and I

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Speaker 2: have been stunned to discover how few people understand this

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Speaker 2: vital information because they don't take the time, Chris, to

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Speaker 2: stop for a second and let me put this. It's

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Speaker 2: an hour an hour and a half of your time

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Speaker 2: instead of going to the beach or going bowling or

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Speaker 2: going whatever, or drinking. Am I right around?

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Speaker 3: I mean because if you don't understand this information. It's

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Speaker 3: possible that you will not realize the damage that you're

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Speaker 3: doing to your financial and retirement success.

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Speaker 2: And that's pretty simple.

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Speaker 3: I mean, if you take the time to just carve

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Speaker 3: out a little bit of time to do what you

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Speaker 3: need to do to put yourself in good order, then

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Speaker 3: you can have fun from there.

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Speaker 2: You know.

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Speaker 3: We talked about a client of mine that we had

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Speaker 3: last last segment. We discussed how they had no idea

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Speaker 3: how to generate the income, and they came to us

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Speaker 3: and they said, I got this lum sum pension. What

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Speaker 3: do I do with it? How do I get income

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Speaker 3: in the most tax efficient way? Well, we created bucket planning.

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Speaker 3: They'll never outlive that money. Ever, they will have guaranteed

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Speaker 3: income coming in eight thousand dollars a month for the

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Speaker 3: rest of their life, you know what. And how settling

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Speaker 3: is that? How comforting is that? So when I say

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Speaker 3: the question is what are you doing about it? Or

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Speaker 3: if you don't understand this information that we're talking about,

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Speaker 3: is possible that you will not realize that the damage

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Speaker 3: that you're doing to your financial your future of financial

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Speaker 3: and retirement success.

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Speaker 2: You know, And again, it doesn't matter if it's intentional

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Speaker 2: or unintentional. And one of the things that you know

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Speaker 2: what you brought up about education, about language, about teaching

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Speaker 2: our young folks and our kids how to save for

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Speaker 2: retirement because nobody's doing that. Why because they're not making

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Speaker 2: enough money to even save. But there is a way

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Speaker 2: to save a portion of your money if you understand

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Speaker 2: the way it works. And here's the worst part. Many

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Speaker 2: of you are unaware of the poor choice that you're

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Speaker 2: making because you are being informed in ways that are

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Speaker 2: beneficial to the sellers of these non beneficial products. You

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Speaker 2: don't understand what you have with mutual funds and stocks

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Speaker 2: and what the fees are and what the risk is.

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Speaker 2: And Chris talk about the comparison when we do that

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Speaker 2: with many clients because when we ask them, are you

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Speaker 2: married to that stock or do you know what you have?

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Speaker 2: The answer always is, uh, I don't know. Well, let's

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Speaker 2: just say it. How many people follow the crowd.

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Speaker 3: How many people just try to keep up with the

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Speaker 3: Joneses right their neighbors, and they just don't know what

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Speaker 3: they don't know, And that is the biggest thing. So

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Speaker 3: we have clients that come in and they say, just

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Speaker 3: like my dad mentioned, the well I don't have a

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Speaker 3: lot of money, but meanwhile they do. They have enough

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Speaker 3: money so they can retire. They have enough money where

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Speaker 3: you can create a guaranteed income plan and they stay

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Speaker 3: within their income and their budget, and they're great. They

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Speaker 3: can do that. They don't have to have millions of dollars.

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Speaker 3: You don't have to get to a certain number like

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Speaker 3: the TV tells us or these advertisements tell us to do.

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Speaker 3: You don't have to. You don't know what you don't know.

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Speaker 3: And that's the thing, and that's why when you come

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Speaker 3: to meet with us, we'll tell you. You know, as

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Speaker 3: a fiduciary, we got to tell you the best thing.

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Speaker 3: We got to do the best thing for you. This

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Speaker 3: is your money, not ours. But we can help because

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Speaker 3: a lot of things we do as a complete planner,

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Speaker 3: we can help. So pick up the phone, schedule time

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Speaker 3: to meet with us. Every Sunday, we have a TV

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Speaker 3: show on ABCTV at ten thirty. It's called The Maggie

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Speaker 3: Tax and Financial Show. And why do we do it

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Speaker 3: Because we enjoy teaching. We enjoy educating you. Why because

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Speaker 3: you need this information. When's the last class you had

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Speaker 3: on income planning, tax planning, investment, planning, estate planning, social

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Speaker 3: security planning, medicare planning. When's the last time you had

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Speaker 3: a class on that. You don't even have a class

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Speaker 3: on how to buy and sell a house. That's how

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Speaker 3: the educational system we have is not complete. That's why

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Speaker 3: we need to meet with you. So pick up the

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Speaker 3: phone schedule time to meet with us. We look forward

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Speaker 3: to meeting with you. Visit our website Maggie Tax dot com.

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Speaker 3: That's Maggie Tax.

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Speaker 1: Stop planning for Uncle Sam's retirement and start planning for

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Speaker 1: your retirement. As we return to the Maggie Tax and

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Speaker 1: Financial Hour with your host, father and son Robert and

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Speaker 1: Chris Maggie. For additional information on how you can create

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Speaker 1: a tax free retirement, visit Maggie Tax dot com. That's

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Speaker 1: Maggi tax dot com. Or call eight one three three

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Speaker 1: two two twenty five twenty. That's eight one three three

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Speaker 1: two two twenty five twenty. Now your host for the

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Speaker 1: Maggie Tax and Financial Hour, Father and son from Maggie

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Speaker 1: Tax Advisory in Financial Group, Robert and Chris Maggie.

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Speaker 2: Welcome back and you're listening to the Maggie Tax and

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Speaker 2: Financial Show. My name is Robert Maggie and I'm here

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Speaker 2: with Chris Maggie today. We're talking about taxes and some

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Speaker 2: strategies and concepts that you could use. The biggest thing

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Speaker 2: is make an appointment. Sit down with us. Give us

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Speaker 2: a call eight three to three, Maggie. Tax Let's discuss

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Speaker 2: your situation, answer the questions you have, because I know

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Speaker 2: a lot of people are con so I want to

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Speaker 2: go back to a couple of things we talked about.

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Speaker 2: But here's an example of what we're trying to help

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Speaker 2: you with. And let's just say that you're sixty three

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Speaker 2: years old, you have a two hundred thousand dollars IRA,

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Speaker 2: and you may want to convert it. So let's also

434
00:20:13,320 --> 00:20:16,120
Speaker 2: say that you have a twenty five percent tax liability

435
00:20:16,400 --> 00:20:19,320
Speaker 2: and your account grows at five percent per year. And

436
00:20:19,359 --> 00:20:20,919
Speaker 2: you can really put any numbers in here, but I

437
00:20:20,960 --> 00:20:23,159
Speaker 2: just want to use this for illustration. So here's the

438
00:20:23,200 --> 00:20:26,680
Speaker 2: total amount of taxes that you could potentially pay from

439
00:20:26,720 --> 00:20:30,040
Speaker 2: that two hundred thousand dollars from today through age ninety.

440
00:20:30,560 --> 00:20:34,080
Speaker 2: So if you keep the qualified account, the total taxes

441
00:20:34,119 --> 00:20:36,679
Speaker 2: that you're going to pay on the RMDS is going

442
00:20:36,720 --> 00:20:39,240
Speaker 2: to be about seventy three thousand, nine hundred and forty

443
00:20:39,240 --> 00:20:41,600
Speaker 2: three dollars, and then you've got to pay tax on

444
00:20:41,640 --> 00:20:44,320
Speaker 2: the reinvested rmds, which a lot of people don't think

445
00:20:44,400 --> 00:20:47,679
Speaker 2: about about thirty thousand, and the tax is paid on

446
00:20:47,720 --> 00:20:50,760
Speaker 2: the remaining account when you pass away of forty seven

447
00:20:50,840 --> 00:20:53,760
Speaker 2: thousand dollars. So the total taxes paid is one hundred

448
00:20:53,760 --> 00:20:57,200
Speaker 2: and fifty two thousand on that two hundred thousand dollars IRA.

449
00:20:57,880 --> 00:20:59,840
Speaker 2: Why are we breaking this down because this is what

450
00:20:59,880 --> 00:21:02,440
Speaker 2: you don't see when you start taking money out of

451
00:21:02,520 --> 00:21:05,280
Speaker 2: your RA. Now, if you converted that irate to a

452
00:21:05,320 --> 00:21:08,520
Speaker 2: tax re option, you would pay taxes on the conversion

453
00:21:08,560 --> 00:21:11,680
Speaker 2: of fifty thousand, and that's it. You don't pay any

454
00:21:11,720 --> 00:21:14,080
Speaker 2: more taxes. Is that shocking because a lot of people

455
00:21:14,160 --> 00:21:16,920
Speaker 2: see Chris and they go, wow, how can that be?

456
00:21:16,920 --> 00:21:19,240
Speaker 2: Because you're taking off one thing? You say, you're ripping

457
00:21:19,320 --> 00:21:20,439
Speaker 2: off the band aid? That's it.

458
00:21:20,520 --> 00:21:22,520
Speaker 3: So can you rip off the band aid? Should you

459
00:21:22,600 --> 00:21:24,560
Speaker 3: rip off the band Aid? The answer is yes and

460
00:21:25,240 --> 00:21:26,320
Speaker 3: depends on your situation.

461
00:21:26,520 --> 00:21:28,240
Speaker 2: Right. So that's why it's so important to meet with us.

462
00:21:28,280 --> 00:21:31,520
Speaker 3: Because what this client did was they went ahead and

463
00:21:31,600 --> 00:21:33,359
Speaker 3: said I don't want to be in an area or

464
00:21:33,400 --> 00:21:36,280
Speaker 3: an environment that's infected with taxes. I want to be

465
00:21:36,359 --> 00:21:39,600
Speaker 3: in an environment that's totally income tax free, where he

466
00:21:39,640 --> 00:21:43,040
Speaker 3: can breed the clean, fresh air of tax free income.

467
00:21:43,080 --> 00:21:45,520
Speaker 3: And that's what he was looking for. So what are

468
00:21:45,560 --> 00:21:47,800
Speaker 3: you looking for? That's the question that we are going

469
00:21:47,840 --> 00:21:49,960
Speaker 3: to ask you. So when you come to meet with us,

470
00:21:50,040 --> 00:21:52,280
Speaker 3: we're going to ask these questions. We're going to show

471
00:21:52,320 --> 00:21:54,919
Speaker 3: you what the tax liability is going to be, and

472
00:21:55,000 --> 00:21:57,560
Speaker 3: we can do some strategies. We could do a lump sum,

473
00:21:57,560 --> 00:21:59,919
Speaker 3: we could do a strategic rollout, we can do it

474
00:22:00,040 --> 00:22:01,679
Speaker 3: over time. Whatever we got to do to see if

475
00:22:01,720 --> 00:22:04,200
Speaker 3: we can help you benefit you. And so you now

476
00:22:04,320 --> 00:22:07,320
Speaker 3: you have tax free money. That's what it's about. So

477
00:22:07,400 --> 00:22:10,800
Speaker 3: when taxes increase, guess what. If you have tax free money,

478
00:22:11,359 --> 00:22:14,000
Speaker 3: you don't have to worry about it. So why not

479
00:22:14,080 --> 00:22:16,840
Speaker 3: put yourself there if you can, and we can show

480
00:22:16,880 --> 00:22:19,560
Speaker 3: you how. Eight three to three, Magi Tax. Pick up

481
00:22:19,600 --> 00:22:21,280
Speaker 3: the phone, schedule time to meet with us. We have

482
00:22:21,320 --> 00:22:23,040
Speaker 3: office on both sides of the day to help you.

483
00:22:23,440 --> 00:22:25,119
Speaker 3: Eight three three Maggie Tax.

484
00:22:25,359 --> 00:22:27,240
Speaker 2: Now, when you come in, we can show you this illustration.

485
00:22:27,280 --> 00:22:29,159
Speaker 2: Because I know it's hard to see on the radio,

486
00:22:29,520 --> 00:22:32,160
Speaker 2: but keeping your IRA in that situation's going to cost

487
00:22:32,200 --> 00:22:34,400
Speaker 2: you an extra one hundred and two thousand and taxes.

488
00:22:34,760 --> 00:22:36,679
Speaker 2: And if you spent the R and ds rather than

489
00:22:36,720 --> 00:22:39,399
Speaker 2: reinvesting them, it's still going to cost you an extra

490
00:22:39,440 --> 00:22:42,720
Speaker 2: seventy two thousand to keep the IRA. That's just the

491
00:22:42,720 --> 00:22:44,439
Speaker 2: way it is. I mean, there's nothing we can tell

492
00:22:44,480 --> 00:22:46,160
Speaker 2: you that's going to be different. It's real. So when

493
00:22:46,160 --> 00:22:48,600
Speaker 2: you run it from a tax standpoint, this is what

494
00:22:48,640 --> 00:22:50,840
Speaker 2: you folks need to see. And by the way, we

495
00:22:50,880 --> 00:22:53,480
Speaker 2: can run this tax analysis for all of you when

496
00:22:53,520 --> 00:22:55,479
Speaker 2: you come in, and it's part of what we do

497
00:22:55,520 --> 00:22:58,200
Speaker 2: every day at Maggie Tax. And here's a better option.

498
00:22:58,640 --> 00:23:00,880
Speaker 2: Now that you know the truth about tax deferral, let

499
00:23:00,880 --> 00:23:03,200
Speaker 2: me give you a better option. And hear at Maggie

500
00:23:03,200 --> 00:23:06,399
Speaker 2: Tax we believe the most powerful tax free option. This

501
00:23:06,480 --> 00:23:08,400
Speaker 2: is another one that a lot of people don't discuss.

502
00:23:08,800 --> 00:23:10,359
Speaker 2: It may be good for some, it may not be

503
00:23:10,440 --> 00:23:13,560
Speaker 2: good as Index Universal Life, and some of you might

504
00:23:13,760 --> 00:23:16,399
Speaker 2: qualify and some may not. And that's why we have

505
00:23:16,480 --> 00:23:18,719
Speaker 2: to meet and see if this is an option. So

506
00:23:18,760 --> 00:23:22,040
Speaker 2: by converting some of your tax deferred assets into tax

507
00:23:22,080 --> 00:23:25,720
Speaker 2: free Index Universal Life, you could save hundreds of thousands

508
00:23:25,760 --> 00:23:28,199
Speaker 2: of dollars in taxes. We've helped a lot of people

509
00:23:28,240 --> 00:23:31,840
Speaker 2: do that. You can increase your income in retirement tax free,

510
00:23:32,240 --> 00:23:34,760
Speaker 2: and you can reduce the risk and volatility in your

511
00:23:34,760 --> 00:23:38,040
Speaker 2: retirement portfolio. So if you want to learn more about that,

512
00:23:38,160 --> 00:23:41,000
Speaker 2: call my office right now eight three to three Maggie

513
00:23:41,000 --> 00:23:43,919
Speaker 2: Tax or visit Maggie tax dot com and set an

514
00:23:43,960 --> 00:23:46,639
Speaker 2: appointment today and let's schedule the time to talk about this,

515
00:23:46,800 --> 00:23:50,639
Speaker 2: and let's talk about tax risk and legislative risk and

516
00:23:50,680 --> 00:23:53,400
Speaker 2: what the heck is the difference. As things stay hot

517
00:23:53,440 --> 00:23:56,440
Speaker 2: in Washington, I'm getting asked this question more and more.

518
00:23:56,920 --> 00:24:00,560
Speaker 2: Both are risk that can dramatically impact all of you,

519
00:24:01,040 --> 00:24:04,240
Speaker 2: and both are risks chris that most savers are underprepared

520
00:24:04,280 --> 00:24:07,560
Speaker 2: to address. And that's confusing because they're not educated on this.

521
00:24:07,760 --> 00:24:10,080
Speaker 2: It's the language that they don't understand. Well that's just said.

522
00:24:10,080 --> 00:24:12,199
Speaker 3: I mean, everyone thinks they have to go through those risks.

523
00:24:12,320 --> 00:24:13,960
Speaker 3: You know, if the mark goes down, they think, well,

524
00:24:14,040 --> 00:24:16,200
Speaker 3: everyone's going to lose money. Well, no, it doesn't happen

525
00:24:16,200 --> 00:24:19,399
Speaker 3: that way. They think, well, everyone's going to pay taxes.

526
00:24:19,480 --> 00:24:22,320
Speaker 3: No not, everyone's going to pay taxes. And if you

527
00:24:22,359 --> 00:24:26,359
Speaker 3: do the right strategies, you can control your retirement. You

528
00:24:26,400 --> 00:24:28,760
Speaker 3: can control the amount that you earn, you can control

529
00:24:28,840 --> 00:24:31,040
Speaker 3: the volatility, you can control the tax side of this.

530
00:24:31,480 --> 00:24:34,199
Speaker 3: You can even control how it transfers to who you

531
00:24:34,240 --> 00:24:36,239
Speaker 3: want it to go to. These are things that we

532
00:24:36,280 --> 00:24:38,720
Speaker 3: do each and every day. Do you have these plans?

533
00:24:39,000 --> 00:24:41,199
Speaker 3: If not, why not? That's what we can help you with.

534
00:24:41,240 --> 00:24:42,640
Speaker 3: So we have offices on both sides of the bay

535
00:24:42,680 --> 00:24:44,680
Speaker 3: to help you. But my dad is talking about a

536
00:24:44,680 --> 00:24:46,399
Speaker 3: lot of different things here. When it comes down to

537
00:24:46,520 --> 00:24:50,600
Speaker 3: your retirement and income. Your retirement assets are going to

538
00:24:50,640 --> 00:24:54,479
Speaker 3: be affected by the taxes. Your current income and your

539
00:24:54,520 --> 00:24:57,360
Speaker 3: future income are going to be affected by the taxes

540
00:24:57,400 --> 00:25:00,280
Speaker 3: because as they raise the tax brackets get that's what

541
00:25:00,400 --> 00:25:03,119
Speaker 3: less income to you, and then you and then you

542
00:25:03,160 --> 00:25:05,919
Speaker 3: put inflation on top of this, then it gets even worse.

543
00:25:06,320 --> 00:25:08,040
Speaker 3: So what are you doing about it? And that's why

544
00:25:08,040 --> 00:25:09,800
Speaker 3: it's so important to get a review. Pick up the phone,

545
00:25:09,840 --> 00:25:12,240
Speaker 3: schedule time to meet with us. Let's get together. Let's

546
00:25:12,280 --> 00:25:14,440
Speaker 3: have a conversation. When you come in, we're going to

547
00:25:14,480 --> 00:25:16,280
Speaker 3: look at your tax return, we look at your investments,

548
00:25:16,320 --> 00:25:18,240
Speaker 3: and we look at your income plan. And if you

549
00:25:18,240 --> 00:25:20,080
Speaker 3: don't have an income plan, we'll show you how to

550
00:25:20,080 --> 00:25:22,199
Speaker 3: get one, We'll do it for you. Eight three to

551
00:25:22,200 --> 00:25:23,080
Speaker 3: three MAGI tax.

552
00:25:23,359 --> 00:25:26,400
Speaker 2: So tax risk is the risk that a person's taxes

553
00:25:27,040 --> 00:25:29,919
Speaker 2: they're going to be higher in retirement than what you

554
00:25:30,000 --> 00:25:32,159
Speaker 2: plan for. And this means more of a retires income

555
00:25:32,320 --> 00:25:34,880
Speaker 2: is going to be we'll go to the I R s.

556
00:25:34,800 --> 00:25:37,639
Speaker 3: As taxes, which means less income to you. So you

557
00:25:37,720 --> 00:25:38,719
Speaker 3: have to do something about this.

558
00:25:38,920 --> 00:25:41,199
Speaker 2: And that's that's a great point there, and Chris, they

559
00:25:41,200 --> 00:25:43,240
Speaker 2: don't see this more to I RS and less to

560
00:25:43,320 --> 00:25:45,760
Speaker 2: you because if you a big question when we ask

561
00:25:45,800 --> 00:25:48,080
Speaker 2: everybody when they come in, how much income do you

562
00:25:48,160 --> 00:25:50,679
Speaker 2: need every month to come in the front door to

563
00:25:50,720 --> 00:25:52,840
Speaker 2: pay your bills, to live and do what you want

564
00:25:52,880 --> 00:25:55,520
Speaker 2: without worrying? And that's a you know, that's a question, Chris,

565
00:25:55,560 --> 00:25:58,280
Speaker 2: the people can't answer. They don't know the answer to

566
00:25:58,320 --> 00:26:01,040
Speaker 2: when it's confusing because that's the groundwork that you and

567
00:26:01,119 --> 00:26:03,520
Speaker 2: I start with, so we could see what's going to

568
00:26:03,560 --> 00:26:04,400
Speaker 2: happen when it comes.

569
00:26:04,200 --> 00:26:06,439
Speaker 3: To taxes exactly we're talking about net You know, we

570
00:26:06,480 --> 00:26:08,800
Speaker 3: can we can gross up the rest or if we

571
00:26:08,840 --> 00:26:11,840
Speaker 3: have strategies. We don't have the takeout taxes because we

572
00:26:11,880 --> 00:26:14,040
Speaker 3: don't have to pay them. So That's why it's so

573
00:26:14,040 --> 00:26:16,720
Speaker 3: important to make sure that you know how much you

574
00:26:16,760 --> 00:26:19,760
Speaker 3: need per month, especially approaching retirement. What is the amount

575
00:26:19,920 --> 00:26:22,720
Speaker 3: you need for the next thirty days to spend. I'm

576
00:26:22,720 --> 00:26:25,240
Speaker 3: not talking about put it going on a vacation or

577
00:26:25,280 --> 00:26:27,480
Speaker 3: I'm not talking about going on a cruise or to

578
00:26:27,480 --> 00:26:29,960
Speaker 3: go on a trip. Those things we can plan for.

579
00:26:30,160 --> 00:26:32,080
Speaker 3: I'm talking about day to day or month to month

580
00:26:32,119 --> 00:26:34,560
Speaker 3: activities that you need to cover to make sure that

581
00:26:34,720 --> 00:26:37,240
Speaker 3: you have income coming in. So these are things we

582
00:26:37,240 --> 00:26:39,880
Speaker 3: can help you with. It's called budget planning. Schedule time

583
00:26:39,920 --> 00:26:41,639
Speaker 3: to meet with us. We can help you a three

584
00:26:41,720 --> 00:26:42,720
Speaker 3: to three Maggie tax.

585
00:26:42,760 --> 00:26:45,240
Speaker 2: There's another word to use, budget planning. A lot of

586
00:26:45,240 --> 00:26:47,800
Speaker 2: people out there listening today don't even know about a budget,

587
00:26:47,840 --> 00:26:50,480
Speaker 2: don't have a budget. Well, folks, it's real important when

588
00:26:50,480 --> 00:26:52,040
Speaker 2: you sit down and look at what you're spending and

589
00:26:52,080 --> 00:26:54,960
Speaker 2: what you owe. You know what's coming in the front door,

590
00:26:54,960 --> 00:26:57,440
Speaker 2: how does that balance out. So from a standpoint that

591
00:26:57,520 --> 00:26:59,480
Speaker 2: Chris and I do, we do a balance sheet on

592
00:26:59,520 --> 00:27:02,440
Speaker 2: every clock to see where your assets are, which ones

593
00:27:02,480 --> 00:27:05,680
Speaker 2: you're using for income, which one you're using for taxes,

594
00:27:06,040 --> 00:27:08,800
Speaker 2: because that's part of the plan. It's a tax planet.

595
00:27:08,800 --> 00:27:11,240
Speaker 2: It's an income planet, it's an investment plan, and it's

596
00:27:11,280 --> 00:27:14,800
Speaker 2: a legacy plan. So folks, if you're missing that, you know,

597
00:27:15,359 --> 00:27:17,399
Speaker 2: I encourage you to call right now eight three to

598
00:27:17,440 --> 00:27:20,080
Speaker 2: three Maggie Tax. Pick up the phone, make an appointment.

599
00:27:20,160 --> 00:27:22,080
Speaker 2: Let's see we can help you out. Because in short,

600
00:27:22,600 --> 00:27:25,760
Speaker 2: tax risk measures the level of taxation that you're going

601
00:27:25,800 --> 00:27:28,560
Speaker 2: to experience in retirement. Now, I know you're saying, well,

602
00:27:28,600 --> 00:27:30,680
Speaker 2: I'm not retiring yet, but that's okay because you want

603
00:27:30,680 --> 00:27:32,920
Speaker 2: to plan for it, So don't put that off until

604
00:27:32,960 --> 00:27:35,800
Speaker 2: the year before you retire. How many people Chris call

605
00:27:35,880 --> 00:27:39,119
Speaker 2: us and say can I retire? And we ask him

606
00:27:39,160 --> 00:27:41,159
Speaker 2: when do you want to retire? And in many cases

607
00:27:41,160 --> 00:27:42,840
Speaker 2: they can retire but don't even know they can.

608
00:27:43,000 --> 00:27:44,800
Speaker 3: Well, let's just say it. So it's a great feeling

609
00:27:44,800 --> 00:27:46,960
Speaker 3: when you can tell someone yes, you could retire and

610
00:27:47,000 --> 00:27:48,320
Speaker 3: they look at you like, well, where am I going

611
00:27:48,359 --> 00:27:50,640
Speaker 3: to get the income from? And we can show them

612
00:27:50,680 --> 00:27:52,960
Speaker 3: because we can put together buckets of money where it

613
00:27:53,000 --> 00:27:57,400
Speaker 3: has income producing account growing for long term to combat

614
00:27:57,440 --> 00:27:59,760
Speaker 3: the inflation as well, and all. The best thing is

615
00:27:59,760 --> 00:28:02,520
Speaker 3: that avoids probat and stage within the family, so you

616
00:28:02,560 --> 00:28:05,920
Speaker 3: can leverage your money. You can maximize your soil security benefits,

617
00:28:05,960 --> 00:28:08,359
Speaker 3: you can have spousal benefits. These are things that we

618
00:28:08,400 --> 00:28:11,399
Speaker 3: talk about each and every week because you need to know.

619
00:28:11,920 --> 00:28:13,440
Speaker 3: You know, we got a client that came in last

620
00:28:13,440 --> 00:28:15,560
Speaker 3: week and we put together a plan and they sat

621
00:28:15,640 --> 00:28:18,320
Speaker 3: back and they said, my gosh, I am sixty four

622
00:28:18,400 --> 00:28:21,480
Speaker 3: years old and no one's ever ever told me how

623
00:28:21,480 --> 00:28:24,720
Speaker 3: to go about doing this. And she was disappointed with

624
00:28:24,800 --> 00:28:26,919
Speaker 3: her past. And she said, I wish I would have

625
00:28:26,920 --> 00:28:28,840
Speaker 3: found you ten years ago because I would have been

626
00:28:28,880 --> 00:28:34,160
Speaker 3: even in better shape. Because now she has clarity, she's educated,

627
00:28:34,200 --> 00:28:36,720
Speaker 3: she knows exactly what she can do and what each

628
00:28:36,720 --> 00:28:39,000
Speaker 3: account's going to do. And she said, oh, my gosh,

629
00:28:39,080 --> 00:28:41,120
Speaker 3: I'm retiring on Monday. I can't wait to come in

630
00:28:41,520 --> 00:28:43,240
Speaker 3: and see you again the next couple of weeks and

631
00:28:43,240 --> 00:28:45,160
Speaker 3: then we can put together and implement the plan to

632
00:28:45,240 --> 00:28:48,520
Speaker 3: make sure it happens. And that's what we're talking about today.

633
00:28:48,840 --> 00:28:51,760
Speaker 3: If you don't have a plan, why not we call

634
00:28:51,800 --> 00:28:55,040
Speaker 3: it the Maggie plan. What's the Maggie plant's tax planning,

635
00:28:55,120 --> 00:28:59,880
Speaker 3: income planning, investment planning, sol security maximization planning, what about

636
00:29:00,160 --> 00:29:01,880
Speaker 3: state planning? If you don't have a will or a

637
00:29:01,880 --> 00:29:04,719
Speaker 3: power of attorney or maybe a living trust is right

638
00:29:04,760 --> 00:29:07,600
Speaker 3: for you, maybe it's not, but these documents are important,

639
00:29:07,640 --> 00:29:10,560
Speaker 3: They're crucial. Do you have beneficiary forms? Do you have

640
00:29:10,680 --> 00:29:13,840
Speaker 3: your account set up? If not, why not pick up

641
00:29:13,880 --> 00:29:15,840
Speaker 3: the phone schedule a time that maybe less we can

642
00:29:15,960 --> 00:29:18,800
Speaker 3: help you. Eight three three Maggie tax. That's eight three

643
00:29:18,840 --> 00:29:19,760
Speaker 3: to three Magi tax.

644
00:29:20,000 --> 00:29:22,360
Speaker 2: And we're about to see tax risk and action because

645
00:29:22,400 --> 00:29:26,040
Speaker 2: in twenty twenty five, several provisions from the twenty seventeen

646
00:29:26,080 --> 00:29:29,600
Speaker 2: Trump tax cuts expire, and this includes the reduction and

647
00:29:29,720 --> 00:29:33,440
Speaker 2: individual income tax bracket rates. So in twenty twenty six,

648
00:29:33,560 --> 00:29:35,760
Speaker 2: many savers are going to find their tax bracket rates

649
00:29:35,840 --> 00:29:38,800
Speaker 2: higher than they are today, causing many of you to

650
00:29:38,880 --> 00:29:42,000
Speaker 2: pay more in taxes even while maintaining the same amount

651
00:29:42,040 --> 00:29:44,960
Speaker 2: of income. Is that what you really want? So get prepared,

652
00:29:45,000 --> 00:29:47,160
Speaker 2: you know, have a plan, sit down and you know,

653
00:29:47,200 --> 00:29:49,240
Speaker 2: for the younger people out there, one thing Chris mentioned,

654
00:29:49,560 --> 00:29:51,600
Speaker 2: don't I don't want you to wait you sixty four

655
00:29:51,800 --> 00:29:53,840
Speaker 2: to figure out if you can retire, You could do

656
00:29:53,880 --> 00:29:56,080
Speaker 2: it younger, and that's when you start putting a plan together.

657
00:29:56,160 --> 00:29:58,880
Speaker 2: For even younger people. Chris, you know you're young, You've

658
00:29:58,880 --> 00:30:01,440
Speaker 2: got a plan, but these the people listening to this show.

659
00:30:01,480 --> 00:30:04,440
Speaker 2: It's not just for retired people. And if you have

660
00:30:04,560 --> 00:30:08,000
Speaker 2: children that are, you know, trying to figure out this

661
00:30:08,160 --> 00:30:11,080
Speaker 2: out on their own, it's not gonna be easy. It's

662
00:30:11,120 --> 00:30:13,360
Speaker 2: a big puzzle. So have them give us a call

663
00:30:13,400 --> 00:30:16,200
Speaker 2: eight three to three Maggie Tax and again visit our

664
00:30:16,240 --> 00:30:19,680
Speaker 2: website Maggie tax dot com. Ten one of our seminars.

665
00:30:19,720 --> 00:30:22,200
Speaker 2: We talk about social security, we talk about Willson Trust

666
00:30:22,200 --> 00:30:25,040
Speaker 2: that Chris mentioned, we talk about taxes, you know, and

667
00:30:25,080 --> 00:30:26,640
Speaker 2: this is what a lot of people are missing. So

668
00:30:26,760 --> 00:30:29,960
Speaker 2: please don't sit back and do nothing. Procrastination is not

669
00:30:30,000 --> 00:30:32,760
Speaker 2: a retirement plan, absolutely, and let's just leave it at this.

670
00:30:32,920 --> 00:30:35,280
Speaker 2: If you do not have a tax plan in your

671
00:30:35,600 --> 00:30:39,160
Speaker 2: retirement plan, then you are in trouble because it's going

672
00:30:39,200 --> 00:30:42,360
Speaker 2: to eat away at the investments that you have, it's

673
00:30:42,400 --> 00:30:44,920
Speaker 2: going to eat away at the future income that you have.

674
00:30:45,520 --> 00:30:49,120
Speaker 2: It's the biggest problem that most American people don't know

675
00:30:49,160 --> 00:30:51,520
Speaker 2: how to retire or can't retire because they have not

676
00:30:52,120 --> 00:30:53,520
Speaker 2: thought about the tax planning.

677
00:30:53,520 --> 00:30:55,240
Speaker 3: So pack up the phone, schedule time to meet with us.

678
00:30:55,440 --> 00:30:58,520
Speaker 3: Tax planning, investment planning, income planning. We could do it

679
00:30:58,600 --> 00:31:01,320
Speaker 3: all to help you complete planning Maggie Tax dot Com

680
00:31:01,320 --> 00:31:02,520
Speaker 3: eight three three mag A Tax.

681
00:31:02,560 --> 00:31:04,360
Speaker 2: That's eight three to three Maggie Tax.

682
00:31:07,000 --> 00:31:10,280
Speaker 1: Stop planning for Uncle Sam's retirement and start planning for

683
00:31:10,360 --> 00:31:13,160
Speaker 1: your retirement. As we return to the Maggie Tax and

684
00:31:13,200 --> 00:31:16,680
Speaker 1: Financial Hour with your host, father and son, Robert and

685
00:31:16,800 --> 00:31:19,760
Speaker 1: Chris Maggie. For additional information on how you can create

686
00:31:19,800 --> 00:31:23,520
Speaker 1: a tax free retirement, visit Maggie tax dot com. That's

687
00:31:23,760 --> 00:31:28,480
Speaker 1: m a gg I tax dot com or call eight

688
00:31:28,480 --> 00:31:32,200
Speaker 1: one three three two two twenty five twenty. That's eight

689
00:31:32,280 --> 00:31:36,840
Speaker 1: one three three two two twenty five twenty. Now your

690
00:31:36,880 --> 00:31:39,640
Speaker 1: host for the Maggie Tax and Financial Hour, Father and

691
00:31:39,760 --> 00:31:43,600
Speaker 1: son from Maggie Tax Advisory and Financial Group, Robert and

692
00:31:43,720 --> 00:31:44,479
Speaker 1: Chris Maggie.

693
00:31:44,520 --> 00:31:47,280
Speaker 3: Welcome back to the Magi Tax and Financial Hour. We

694
00:31:47,520 --> 00:31:50,160
Speaker 3: thank you so much for tuning in. Don't forget every

695
00:31:50,200 --> 00:31:52,760
Speaker 3: Sunday on ABC TV at ten thirty am for the

696
00:31:52,760 --> 00:31:56,080
Speaker 3: Magi Tax and Financial Show. It's our TV show on

697
00:31:56,680 --> 00:32:00,320
Speaker 3: Sunday ABC. There's so much information right there, you get

698
00:32:00,320 --> 00:32:03,640
Speaker 3: to meet us, you'll see us. We talk a lot

699
00:32:03,680 --> 00:32:07,280
Speaker 3: about education on many different topics, and that's what it's

700
00:32:07,320 --> 00:32:09,760
Speaker 3: all about. To educate you and make sure that you

701
00:32:10,400 --> 00:32:12,880
Speaker 3: are knowing what your options are during retirement.

702
00:32:12,960 --> 00:32:15,120
Speaker 2: So let's take this step by step because it's a

703
00:32:15,160 --> 00:32:18,560
Speaker 2: basic understanding of income taxes where it all starts. And

704
00:32:18,640 --> 00:32:21,360
Speaker 2: literally all of you have little or no understanding of

705
00:32:21,400 --> 00:32:23,880
Speaker 2: how income taxes work because you only do it once

706
00:32:23,920 --> 00:32:26,560
Speaker 2: a year. You basically put all your stuff together, bring

707
00:32:26,560 --> 00:32:28,680
Speaker 2: it to a tax REPAA, and then see what you

708
00:32:28,760 --> 00:32:30,760
Speaker 2: have to pay. And how do I know this because

709
00:32:30,800 --> 00:32:33,320
Speaker 2: think about this for a minute. Sixty one percent of

710
00:32:33,320 --> 00:32:37,760
Speaker 2: American pay no federal income tax, and yet they contribute

711
00:32:37,800 --> 00:32:40,920
Speaker 2: to tax deductible four to one k's iras, four or

712
00:32:40,960 --> 00:32:44,200
Speaker 2: three b's and four fifty seven plants. So here's what happens.

713
00:32:44,200 --> 00:32:46,560
Speaker 2: They get a deduction on the front side, and they

714
00:32:46,560 --> 00:32:48,640
Speaker 2: build a pile of money that could be taxed at

715
00:32:48,880 --> 00:32:52,200
Speaker 2: twenty thirty forty percent on the backside. Chris, is that

716
00:32:52,240 --> 00:32:55,840
Speaker 2: a good thing? Is Is that a good plan where

717
00:32:56,360 --> 00:32:59,160
Speaker 2: you're able to, you know, put money away. You get

718
00:32:59,160 --> 00:33:01,200
Speaker 2: a tax deduction, But then later on they bang you

719
00:33:01,240 --> 00:33:02,760
Speaker 2: with a big tax and they don't tell you.

720
00:33:02,880 --> 00:33:06,120
Speaker 3: Well, it's good on upfront, but there's the rest of

721
00:33:06,160 --> 00:33:07,320
Speaker 3: the story.

722
00:33:07,440 --> 00:33:09,640
Speaker 2: But here's the thing. Upfront might be good because you

723
00:33:09,640 --> 00:33:12,280
Speaker 2: get a tax deduction. But we're talking about retirement here.

724
00:33:12,320 --> 00:33:14,320
Speaker 2: We're talking about putting money away so that you can

725
00:33:14,360 --> 00:33:17,120
Speaker 2: have a great retirement. It used to be stop working

726
00:33:17,160 --> 00:33:20,040
Speaker 2: at sixty five, you get medicare, you get solid security,

727
00:33:20,040 --> 00:33:21,800
Speaker 2: and you're on your way. My dad did that, my

728
00:33:21,880 --> 00:33:24,520
Speaker 2: mom did that. That was the basic thing. Get your

729
00:33:24,560 --> 00:33:27,360
Speaker 2: pension because they worked for a company that gave him

730
00:33:27,360 --> 00:33:30,080
Speaker 2: a pension. Not many people have that. You talked about

731
00:33:30,080 --> 00:33:33,040
Speaker 2: that before design a pension plan, folks, that's what we're

732
00:33:33,040 --> 00:33:35,360
Speaker 2: talking about the language. So ask yourself, if you were

733
00:33:35,360 --> 00:33:38,000
Speaker 2: a farmer, would you like to pay tax on the

734
00:33:38,040 --> 00:33:40,480
Speaker 2: seed or the harvest? And that is not a good

735
00:33:40,560 --> 00:33:43,480
Speaker 2: understanding of tax law. And again that's why we have

736
00:33:43,600 --> 00:33:47,000
Speaker 2: the Maggie Plan. It's a tax plan, it's an income plan,

737
00:33:47,160 --> 00:33:50,360
Speaker 2: it's an insurance plan, it's an investment plan, and we

738
00:33:50,480 --> 00:33:54,040
Speaker 2: call it a complete plan. Ask yourself this question, do

739
00:33:54,120 --> 00:33:56,480
Speaker 2: you have a complete plan? I sit in front of

740
00:33:56,480 --> 00:33:58,480
Speaker 2: people every day, so does Chris, and we ask them

741
00:33:58,720 --> 00:34:00,760
Speaker 2: do you have a complete plan? And they go, well,

742
00:34:01,680 --> 00:34:03,960
Speaker 2: I don't know, I think so. So when we start

743
00:34:04,000 --> 00:34:07,320
Speaker 2: talking to them and pulling everything apart, guess what. They

744
00:34:07,320 --> 00:34:10,120
Speaker 2: don't have a complete plan. They have an incomplete plan.

745
00:34:10,560 --> 00:34:12,719
Speaker 2: So we call it the Maggie Plan, and get a

746
00:34:12,719 --> 00:34:16,520
Speaker 2: complete plan today, simple and easy to understand. Visit Maggie

747
00:34:16,600 --> 00:34:19,560
Speaker 2: tax dot com. Click on the retirement calculate. We've been

748
00:34:19,560 --> 00:34:22,400
Speaker 2: talking about this all through the show. In thirty seconds,

749
00:34:22,480 --> 00:34:24,560
Speaker 2: I can show you what your retirement tax bill will

750
00:34:24,560 --> 00:34:26,719
Speaker 2: look like. We can help and we call it the

751
00:34:26,760 --> 00:34:30,240
Speaker 2: Maggie Plan. And I promise you this simple and easy

752
00:34:30,280 --> 00:34:32,640
Speaker 2: to understand, and don't be afraid to come in and

753
00:34:32,680 --> 00:34:35,160
Speaker 2: talk about it, because I think, Chris, what happens to

754
00:34:35,200 --> 00:34:37,840
Speaker 2: a lot of people out there. They walk into a

755
00:34:37,880 --> 00:34:40,280
Speaker 2: broker maybe and they're told about this mutualphone and stock

756
00:34:40,520 --> 00:34:43,200
Speaker 2: and that's it, and there's nothing else that they give

757
00:34:43,239 --> 00:34:45,520
Speaker 2: them as an option. So eight three to three Magi

758
00:34:45,640 --> 00:34:48,280
Speaker 2: Tax operators are standing by right now as we speak,

759
00:34:48,440 --> 00:34:50,879
Speaker 2: and be sure to visit Maggie Tax dot com. Yeah,

760
00:34:50,920 --> 00:34:51,400
Speaker 2: that's just it.

761
00:34:51,600 --> 00:34:54,399
Speaker 3: You know, when you talk about do you really want

762
00:34:54,400 --> 00:34:58,040
Speaker 3: a plan? Do you want an individual to just give

763
00:34:58,080 --> 00:35:01,279
Speaker 3: you a recommendation on what to buy or do you

764
00:35:01,360 --> 00:35:04,080
Speaker 3: want a complete, ongoing plan? And that's your call, you know,

765
00:35:04,200 --> 00:35:06,560
Speaker 3: So listening today, you know you have a choice. We

766
00:35:06,600 --> 00:35:09,319
Speaker 3: all have choices. We have choices. To buy things. We

767
00:35:09,360 --> 00:35:13,239
Speaker 3: have choices to to be uh, to be active or

768
00:35:13,320 --> 00:35:15,120
Speaker 3: not active. We have choices on what we can eat,

769
00:35:15,160 --> 00:35:16,760
Speaker 3: what we don't want to eat, or what we should

770
00:35:16,719 --> 00:35:19,160
Speaker 3: have should not eat. Right, So we all have choices

771
00:35:19,200 --> 00:35:21,319
Speaker 3: in life. We all know the basics. But what kind

772
00:35:21,320 --> 00:35:23,479
Speaker 3: of goals do you have? You know, because a goal

773
00:35:23,880 --> 00:35:26,640
Speaker 3: without execution is just a dream. And when you start

774
00:35:26,680 --> 00:35:29,439
Speaker 3: thinking about this, you have these concerns on your mind.

775
00:35:29,440 --> 00:35:32,000
Speaker 3: You're listening to this show, you're watching our show. You

776
00:35:32,080 --> 00:35:34,400
Speaker 3: understand that there is there is things that you have

777
00:35:34,480 --> 00:35:36,480
Speaker 3: to address. You have to have an income plan, you

778
00:35:36,560 --> 00:35:38,880
Speaker 3: have to have a tax plan, you have to have

779
00:35:38,920 --> 00:35:41,600
Speaker 3: an investment plan. This is money you're putting away. What

780
00:35:41,680 --> 00:35:43,680
Speaker 3: is it doing for you? Are you losing money?

781
00:35:43,960 --> 00:35:44,120
Speaker 2: You know?

782
00:35:44,160 --> 00:35:46,840
Speaker 3: What kind of strategy do you have? That's what we

783
00:35:46,880 --> 00:35:48,560
Speaker 3: need to discuss here because you need to come in

784
00:35:48,560 --> 00:35:51,640
Speaker 3: to meet with us. Every situation is different. You might

785
00:35:51,719 --> 00:35:54,360
Speaker 3: have all the money you need right now to retire

786
00:35:54,360 --> 00:35:56,280
Speaker 3: and you just don't know it. You know, many federal

787
00:35:56,320 --> 00:35:59,040
Speaker 3: employees out there, they have no idea what that their benefits.

788
00:35:59,040 --> 00:36:00,799
Speaker 3: So if you're a federal employer out there, we can

789
00:36:00,840 --> 00:36:03,920
Speaker 3: show you about your first pension, about your life insurance,

790
00:36:03,920 --> 00:36:07,160
Speaker 3: your fagely, your survivor benefit, your TSP options. These are

791
00:36:07,160 --> 00:36:08,680
Speaker 3: things that we do each and every day. So pick

792
00:36:08,719 --> 00:36:10,719
Speaker 3: up the phone, schedule time to meet with Let's let's

793
00:36:10,719 --> 00:36:13,680
Speaker 3: get together, you know, let's let's begin the year. Let's

794
00:36:13,680 --> 00:36:17,600
Speaker 3: have a good jump on the direction where you want

795
00:36:17,600 --> 00:36:20,160
Speaker 3: to go. And that's confidence and clarity. So pick up

796
00:36:20,160 --> 00:36:21,880
Speaker 3: the phone, schedule time to meet with us A three

797
00:36:22,000 --> 00:36:23,000
Speaker 3: three Maggie Tax.

798
00:36:23,080 --> 00:36:25,080
Speaker 2: And again I'm gonna repeat this because if you're just

799
00:36:25,120 --> 00:36:27,680
Speaker 2: tuning in, this is very important. Visit our website, Maggie

800
00:36:27,719 --> 00:36:30,160
Speaker 2: tax dot com. Why because we have a lot of

801
00:36:30,239 --> 00:36:32,840
Speaker 2: information there to teach you. So in the privacy of

802
00:36:32,880 --> 00:36:35,040
Speaker 2: your own home, take a look at it. Visit the

803
00:36:35,320 --> 00:36:37,640
Speaker 2: retirement calculator on the top ride. If you have an

804
00:36:37,719 --> 00:36:40,399
Speaker 2: IRA four oh one K four oh three B, let's

805
00:36:40,400 --> 00:36:42,239
Speaker 2: find out what your tax bill is going to look like.

806
00:36:42,520 --> 00:36:44,399
Speaker 2: And then let's come in and do some planning. Because

807
00:36:44,440 --> 00:36:47,000
Speaker 2: once you see that calculator, once you see that illustration

808
00:36:47,280 --> 00:36:49,719
Speaker 2: that's gonna come directly to you in an email, you're

809
00:36:49,719 --> 00:36:51,480
Speaker 2: gonna stop and say, wait a minute, what do I

810
00:36:51,560 --> 00:36:53,520
Speaker 2: do about this? I'm gonna pay a lot of taxes.

811
00:36:53,800 --> 00:36:56,160
Speaker 2: So again, we say this every time people commit say well,

812
00:36:56,160 --> 00:36:58,360
Speaker 2: I don't have a lot of money. Of course you do.

813
00:36:58,400 --> 00:37:00,000
Speaker 2: You have a lot of money because it's your money,

814
00:37:00,000 --> 00:37:02,040
Speaker 2: that's what you saved. And then go to the other

815
00:37:02,160 --> 00:37:04,960
Speaker 2: side where it says seminars. Take the time and come

816
00:37:05,000 --> 00:37:08,400
Speaker 2: to our seminar. We're doing one a month. There's different locations,

817
00:37:08,440 --> 00:37:10,080
Speaker 2: but take an hour and ten minutes, hour and a

818
00:37:10,080 --> 00:37:12,120
Speaker 2: half to visit with us. And let's tell you and

819
00:37:12,120 --> 00:37:14,440
Speaker 2: show you what we do. And again, I know you

820
00:37:14,520 --> 00:37:16,600
Speaker 2: have a lot of questions. We talk about a lot

821
00:37:16,680 --> 00:37:19,080
Speaker 2: Chris and I. So go to the Maggie tax dot

822
00:37:19,120 --> 00:37:21,480
Speaker 2: com and look at the chat box on the bottom right,

823
00:37:21,920 --> 00:37:23,880
Speaker 2: hit it and put a question in. I don't care

824
00:37:23,920 --> 00:37:25,839
Speaker 2: how silly it sounds. We're going to respond to you.

825
00:37:26,120 --> 00:37:27,719
Speaker 2: And Chris, I think that's the problem that a lot

826
00:37:27,760 --> 00:37:29,880
Speaker 2: of people have with their advisors or they're brokers or

827
00:37:29,880 --> 00:37:32,160
Speaker 2: their tax person. They're afraid to ask questions.

828
00:37:32,160 --> 00:37:35,800
Speaker 3: Why that's just it, because they feel like they should

829
00:37:35,920 --> 00:37:40,360
Speaker 3: have an input on their plan.

830
00:37:40,480 --> 00:37:41,400
Speaker 2: Aren't they supposed to know?

831
00:37:41,640 --> 00:37:44,000
Speaker 3: This is their money, though, this is your money, not ours.

832
00:37:44,080 --> 00:37:46,400
Speaker 3: Let's guide you, let's educate you, let's show you what

833
00:37:46,440 --> 00:37:47,920
Speaker 3: your options are and you can say, oh my gosh,

834
00:37:47,960 --> 00:37:50,400
Speaker 3: that's what I want, that's what I don't want, and

835
00:37:50,480 --> 00:37:52,759
Speaker 3: I want to gravitate towards what you want, and that's

836
00:37:52,760 --> 00:37:54,360
Speaker 3: what we can do to help you. We are not

837
00:37:54,520 --> 00:37:57,959
Speaker 3: transactional advisors. We're complete advisors and that's a big deal.

838
00:37:58,080 --> 00:38:00,280
Speaker 3: So when you're coming to me with us, we'll show

839
00:38:00,320 --> 00:38:02,880
Speaker 3: you what we do here at Maggie Tax Advisory and

840
00:38:02,960 --> 00:38:05,040
Speaker 3: Financial Group. So pick up the phone schedule of time

841
00:38:05,080 --> 00:38:08,319
Speaker 3: to meet with us. An interesting statistic here from the

842
00:38:08,320 --> 00:38:12,080
Speaker 3: wage statistics information provided by Social Security. Every year, ninety

843
00:38:12,080 --> 00:38:14,320
Speaker 3: two percent of Americans make less than one hundred and

844
00:38:14,360 --> 00:38:17,080
Speaker 3: twenty thousand dollars. Think about that for a minute. Ninety

845
00:38:17,120 --> 00:38:19,440
Speaker 3: two percent of that. If you're over one hundred and

846
00:38:19,440 --> 00:38:22,600
Speaker 3: twenty thousand, then you need a plan. If you don't

847
00:38:22,640 --> 00:38:25,040
Speaker 3: have a plan, you need to have one. So pick

848
00:38:25,120 --> 00:38:27,520
Speaker 3: up the phone schedule time to meet with us A

849
00:38:27,680 --> 00:38:30,319
Speaker 3: three to three Maggie Tax. We thank you so much

850
00:38:30,480 --> 00:38:33,640
Speaker 3: for listening to today's show. Visit our website at Maggi

851
00:38:33,719 --> 00:38:35,680
Speaker 3: Tax dot com. Pick up the phone schedule time to

852
00:38:35,680 --> 00:38:37,920
Speaker 3: meet with us a three to three Maggie Tax.

853
00:38:42,840 --> 00:38:45,279
Speaker 1: You've been listening to the Maggie Tax on Financial Hour

854
00:38:45,360 --> 00:38:48,880
Speaker 1: discussing tax planning investment strategy is presented by Robert and

855
00:38:48,960 --> 00:38:52,759
Speaker 1: Chris Maggie from Maggie Tax Advisory and Financial Services with

856
00:38:52,920 --> 00:38:57,000
Speaker 1: offices in Hillsboro and Panelas County. Visit Maggie Tax dot

857
00:38:57,040 --> 00:39:00,000
Speaker 1: com or call eight one three three two to two

858
00:39:00,400 --> 00:39:04,280
Speaker 1: twenty five twenty. That's eight one three three two two

859
00:39:04,320 --> 00:39:07,920
Speaker 1: twenty five twenty and tune in next Saturday at five

860
00:39:08,200 --> 00:39:10,439
Speaker 1: for the Maggie Tax and Financial Hour