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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 is living it up when you retire by taxing

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

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Speaker 1: Financial Show with Robert and Chris Maggie of Maggie Tax

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Speaker 1: and Wealth Advisors. With over four decades 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 next day from Uncle Stam. Call them at

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Speaker 1: eight three three Maggie Tax or online at Maggie Tax

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Speaker 1: dot com. And now your host for the Maggie Tax

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Speaker 1: and Financial Show, Robert and Chris Maggie.

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Speaker 2: Welcome everyone, I'm Chris Maggie. Thank you so much for

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Speaker 2: tuning into our show. I'm here with my dad and

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Speaker 2: cost of the show, Robert Maggie, and today we welcome

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Speaker 2: you and we want you to visit our website, Maggie

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Speaker 2: Tax dot com. There's so much information right there at

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Speaker 2: your fingertips. There's seminars, there's learning about your tax build.

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Speaker 2: There's so much to discover right there about your personal

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Speaker 2: fund finances. So pick up the phone, schedule time to

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Speaker 2: meet with us A three to three Maggie Tax. That's

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Speaker 2: eight three to three Maggie Tax. Just visit our website,

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Speaker 2: Maggie Tax dot com. So today we're going to talk

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Speaker 2: about five personal finance misunderstanding things that you should not

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Speaker 2: fall victim too. So welcome Dad, and let's jump right

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Speaker 2: into the show.

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Speaker 3: So many people make mistakes, as we see every day

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Speaker 3: when we meet with clients, but handling your personal finances

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Speaker 3: it's essential to comfortable living, but it can be much

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Speaker 3: easier said than done when you don't really understand what's

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Speaker 3: going on. Knowledge is power, and like we always say,

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Speaker 3: you don't know what you don't know. So meeting with

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Speaker 3: a financial advisor like Maggie Tax, we can help you out.

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Speaker 3: And with so many misunderstandings that's floating in the air,

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Speaker 3: getting a full grasp on the subject, some people think

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Speaker 3: it's impossible because some people think I can't learn it,

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Speaker 3: but you can, and Maggie Tax is here to clear

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Speaker 3: up some of these misunderstandings so that you don't fall

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Speaker 3: victim to them. So let's talk about number one. Number one,

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Speaker 3: No investment account type is safer or risk than another.

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Speaker 3: Let me repeat that no investment account type is safer

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Speaker 3: or riskier than another. And some people may opt out

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Speaker 3: of their four to one K in favor of an

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Speaker 3: IRA or roth IRA or vice versa because they believe

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Speaker 3: that one account type is safer than the other. And

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Speaker 3: I think, Chris, what we have found out on that

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Speaker 3: is they don't understand what that account is the definition

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Speaker 3: of a qualified account or a four to one K,

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Speaker 3: And what makes an investment risky has to do with

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Speaker 3: the stock that's being invested in. That's invested in, not

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Speaker 3: the account that you're using to invest with, So kind

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Speaker 3: of separate that what an IRA four one K is

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Speaker 3: and you know what's in that account.

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Speaker 4: Well, that's just it.

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Speaker 2: You know an IRA and a four one K, there's

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Speaker 2: both qualified accounts, And basically what that means is that

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Speaker 2: you have restrictions on those. You can put a certain

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Speaker 2: amount in h if you put the money in, you

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Speaker 2: have to wait a certain amount of time until you

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Speaker 2: start taking the money out. And when you have an

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Speaker 2: IRA four on one K, most of those are pre

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Speaker 2: tax dollars, so you get a tax deduction going in,

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Speaker 2: but in the future it's all taxaball. They also have

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Speaker 2: qualified accounts and also WROTH four to one ks, where

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Speaker 2: it's vice versa, where it goes ahead and you put

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Speaker 2: the money in. Today it's after tax going in, but

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Speaker 2: in the future it's all tax free. So these things

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Speaker 2: that you have to talk about. But when you talk

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Speaker 2: about the risk, technically you can invest in the exact

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Speaker 2: same stocks in an IRA as you can in a

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Speaker 2: four one K. So the misunderstanding is that, well, I'm

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Speaker 2: just going to take my money out of a four

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Speaker 2: um one K to be safer in an IRA. You can,

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Speaker 2: but you have to make sure that you understand the

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Speaker 2: vehicle that you're investing your money in.

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Speaker 3: I agree with that, and one of the main differences, Chris,

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Speaker 3: between these accounts involves the rules that you must follow

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Speaker 3: in order to use them.

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Speaker 5: You mentioned a few minutes ago.

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Speaker 3: Some may have a funding limit, while others may have

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Speaker 3: penalties for pulling out early. That's a big problem when

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Speaker 3: people don't realize, underage fifty nine and a half, in

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Speaker 3: a qualified account, you take money out of a four

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Speaker 3: to one K or an IRA, you're going to wind

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Speaker 3: up with a penalty ten percent penalty for early withdrawal

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Speaker 3: and a tax and many times when we see a

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Speaker 3: tax return, I know people are sometimes you know, they

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Speaker 3: need money and they take it out without the direction

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Speaker 3: of wait, we can take it out of another account

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Speaker 3: that is not going to get a penalty or a tax.

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Speaker 3: And Chris, we see that so many times.

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Speaker 4: That's it.

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Speaker 2: So if you have a distribution that you need to make,

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Speaker 2: make sure you take it from the right account. So

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Speaker 2: pick up the phone, schedule time to meet with us.

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Speaker 2: Let's go over that for you. There's different types of

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Speaker 2: qualified plans and it's very essential that you pull out

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Speaker 2: the funds from the right spot to avoid the penalty

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Speaker 2: and also the tax.

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Speaker 3: You know, and again that's one of reason why we're

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Speaker 3: doing the seminars. Go to our website Maggie tax dot com,

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Speaker 3: look for seminars. Register for our state planning, tax planning

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Speaker 3: and social security planning. We discussed this and this is

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Speaker 3: what you need to do to learn. To get educated.

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Speaker 3: You have to go back to school, start from the

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Speaker 3: ground up and understand what you have because if you

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Speaker 3: sit there and do nothing, that's not the plan and

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Speaker 3: that's not going to solve your problem. So get educated

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Speaker 3: and visit our website Maggie tax dot com. So number two,

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Speaker 3: diversifying funds does not dilute your ability to make a profit.

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Speaker 3: So if someone tells you that there's no point in

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Speaker 3: making a multitude of small investments because you won't make

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Speaker 3: as much of a return, then they don't understand the

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Speaker 3: first rule of safe investing. So you should never put

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Speaker 3: all your eggs in one basket. Well, you agree with that,

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Speaker 3: and that's especially true in receiving stocks. If you put

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Speaker 3: your entire savings into a single stock and listen and

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Speaker 3: it doesn't turn out in your favor, then there's not

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Speaker 3: much that you can do. But by having a diverse

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Speaker 3: investment portfolio with a wide range of various stocks, it's

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Speaker 3: easier to control your overall profit. And Chris, that's what

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Speaker 3: we do when we talk about manage money. There's more

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Speaker 3: choices than people. And you come across this every day.

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Speaker 3: In a four to one K or a IRA, they

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Speaker 3: have limited choices. But in a managed account and talk

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Speaker 3: about that there are more portfolios to choose from to

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Speaker 3: do what they want for risk or safe money.

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Speaker 4: Well, that's just it.

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Speaker 2: You know, many people just really don't know what they

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Speaker 2: don't know, and that's okay because they're just not educated.

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Speaker 2: Fully and where you can invest your money. But in

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Speaker 2: a fall one K you are limited to different types

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Speaker 2: of mutual funds. Most of the time you maybe have

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Speaker 2: ten or fifteen, or maybe even twenty different funds to

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Speaker 2: choose from, and you might have three large growth funds

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Speaker 2: or two small cap funds, maybe one international fund. But

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Speaker 2: again you might not have a variety of options to

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Speaker 2: choose from. But rolling your money over into an IRA

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Speaker 2: individual retirement account, you have that ability to invest in

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Speaker 2: multiple investments that you just don't have in the formal case.

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Speaker 2: So you're talking about diversification and should you have one stock,

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Speaker 2: should you have multiple amounts of stock. So that's why

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Speaker 2: the managed portfolios is so important. If you're looking for

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Speaker 2: an investment plan, we can help pick up the phone,

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Speaker 2: schedule time to meet with us because our investment side

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Speaker 2: of this, we have investment portfolios that have a specific purpose.

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Speaker 2: Whether it's dividend producing portfolios, whether it's a buffered index portfolio,

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Speaker 2: whether it's an inflation protection portfolio, whether it's an absolute

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Speaker 2: yield portfolio, or or maybe an aggressive portfolio with the

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Speaker 2: best large cap small cap stock. So we have to

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Speaker 2: look at this based on your risk. But when you

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Speaker 2: come in to meet with us. We can first analyze

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Speaker 2: what you currently have and see if there's something thing

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Speaker 2: that might be better for you where you can take

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Speaker 2: less risk, get more return. These things that we could

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Speaker 2: talk about when you come in and meet with us.

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Speaker 2: So pick up the phone, schedule time to meet with us.

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Speaker 2: Eight three three Maggie Tacks. Get a second opinion on

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Speaker 2: your investments because your current advisor cannot do that for you.

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Speaker 2: Eight three to three Magi Tacks.

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Speaker 3: So thing about what we're just talking about. Is it

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Speaker 3: easy for one person to do all that? No, If

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Speaker 3: you get some financial advice from a complete planner like

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Speaker 3: Maggie Tax, then you get all the questions answered and

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Speaker 3: then you can make And the keyword is choice, your

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Speaker 3: choice of what you should do. So if you want safety,

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Speaker 3: we can give it to you. If you want risk,

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Speaker 3: we can give it to you. And many times, Chris,

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Speaker 3: we meet with husband and wife and the husband is

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Speaker 3: wants more risk, the wife doesn't.

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Speaker 5: We've seen that so many times.

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Speaker 3: And in the end what happens is when you satisfy

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Speaker 3: the wife or the husband what they want, it's a

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Speaker 3: lot easier to present the plan and they get it.

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Speaker 3: They finally understand I didn't know that in my advisor

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Speaker 3: many times doesn't tell them that.

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Speaker 2: Well, let's just say, you know, let people really just

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Speaker 2: don't know what they can and can't do, and they

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Speaker 2: just think, well, one thing four one K or one

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Speaker 2: thing stocks. Well that's just not the case. There's a

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Speaker 2: lot of different options that you could invest your money

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Speaker 2: into that you have a purpose with. There're safe accounts

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Speaker 2: where there are no fees, there are risky accounts where

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Speaker 2: there are fees. There's loads in some positions out there

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Speaker 2: which you don't want to have to get into if

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Speaker 2: you don't have to, So meet with the right advisor.

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Speaker 2: Make sure that you're asking questions. But when you come

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Speaker 2: meet with us MAGI Tax Maggi Investments, we'll sit down

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Speaker 2: and we'll educate you on what you can and can't do,

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Speaker 2: and then we'll align that with the risk that you

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Speaker 2: want to take and also the goals and your income.

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Speaker 2: And that's why we do. Complete planning is tax planning,

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Speaker 2: investment planning, estate planning, social security maximization planning.

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Speaker 4: That's what we do. Pick up the phone eight three

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Speaker 4: to three Magi Tex.

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Speaker 3: And also it's called bucket planning. What Chris just mentioned

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Speaker 3: you know income planning, you know a safe money and

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Speaker 3: later money. Many people think they have a pile of

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Speaker 3: money and there's got to be the whole pile that

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Speaker 3: they start taking money out of.

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Speaker 5: But that's not correct.

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Speaker 3: If you do proper planning income today that you need

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Speaker 3: income maybe in five years or ten years, and then

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Speaker 3: you put all this together with social security and maybe

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Speaker 3: a pension. Now you have a plan. Now you have

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Speaker 3: a retirement plan that you can know that you're going

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Speaker 3: to get guaranteed income. So when we talk about our seminars,

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Speaker 3: when we talk about a state planning and tax planning

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Speaker 3: and social security planning, I encourage all of you to

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Speaker 3: go to our website, Maggie tax dot com and register

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Speaker 3: for the three and one seminar. Because without a will,

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Speaker 3: probate court and the estate decide what happens to your

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Speaker 3: assets after you've gone, and that's going to impact many

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Speaker 3: for a state taxes, so enhanced planning could help you

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Speaker 3: reduce your estate's exposure to taxes. Many of you listening

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Speaker 3: know that you've gone, We parents have gone through probate.

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Speaker 3: What are you going to do about it? What about

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Speaker 3: your tax bill and retirement? Could it be too big?

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Speaker 3: In thirty seconds, we'll show you what your tax bill

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Speaker 3: is going to be. If you have an IRA or

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Speaker 3: a four to one K, or even a TSP or

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Speaker 3: any tax deferred retirement account, you will want to know

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Speaker 3: what your tax bill is going to be. And then

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Speaker 3: last Security, Social Security can be confusing, so for many

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Speaker 3: of you that are getting to be on Social Security,

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Speaker 3: we're trying to figure out when you should take it

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Speaker 3: sixty two, sixty six, or how it's taxed. That's why

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Speaker 3: you need to register for the three and one seminar.

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Speaker 3: Go to Maggie Tax dot com look for seminars. We

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Speaker 3: have seminars every week and they're very educational. It's a

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Speaker 3: lot of fun, but you're going to walk away with information.

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Speaker 3: Maggie Tax dot Com. Pick up the phone, give us

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Speaker 3: a call eight three to three Maggie Tax. Set a

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Speaker 3: time today and let's get together. And just another reminder,

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Speaker 3: every Sunday at ten thirty, tune into the Maggie Tax

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Speaker 3: and Financial Show on ABCTV.

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Speaker 5: That's ten thirty on ABCTV to.

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Speaker 3: The Maggie Tax and Financial Show eight three to three

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Speaker 3: Maggie Tax.

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

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Speaker 1: own successful retirement. As we return to the Maggie Tax

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Speaker 1: Financial Show with your host Robert and Chris Maggie with

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Speaker 1: Maggie Tax and Wealth Advisors. For information on how you

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Speaker 1: can create a tax for retirement, call eight three three

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Speaker 1: Maggie Tax or visit Maggie Tax dot com. Now you're

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Speaker 1: host with Maggie Tax and Wealth Advisors. Robert and Chris Maggie.

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Speaker 2: Welcome back to the Maggie Tax and Financial Show, and

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Speaker 2: we welcome everyone today and thank you so much for listening.

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Speaker 2: Do you have an action plan to remove the IRS

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Speaker 2: from your retirement picture? That's a great question. We have

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Speaker 2: that plan and you should too if you just work

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Speaker 2: with the right advisor. And I tell you why, because

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Speaker 2: taxes will increase your retirement is about taxes. Taxes are

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Speaker 2: our biggest expense. We have proven strategies to dampen Uncle

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Speaker 2: Sam's impact on your retirement. If you want to take

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Speaker 2: the IRS wildcard out of the deck, then we can

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Speaker 2: help pick up the phone and schedule time to meet

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Speaker 2: with us. Eight three to three Maggie Tax.

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Speaker 3: And we have many proven strategies that have proven indispensable

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Speaker 3: in getting our clients to a zero tax bracket. But

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Speaker 3: it becomes understanding the language and it's well worth the

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Speaker 3: time to meet with us. We want to make it

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Speaker 3: simple and easy for you to understand, and the principles

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Speaker 3: and tax strategies that we use have empowered meet to

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Speaker 3: sound in the alarm and rescue many of our clients'

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Speaker 3: financial future and security from the looming threat of higher taxes.

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Speaker 3: We talk about this all the time. The retirement tax calculator.

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Speaker 3: Why because you're going to pay a lot in taxes,

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Speaker 3: so we can help you. Give us a call eight

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Speaker 3: three to three Maggie Tax and we could put the

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Speaker 3: Maggie plant together for you, Chris. And you know that's

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Speaker 3: what people are looking for.

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Speaker 2: Help absolutely, and that's it, you know, help why because

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Speaker 2: we don't know what you don't know. And that's okay.

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Speaker 2: You know we do this every day. We retire every

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Speaker 2: day you retire once. Think about that for a minute.

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Speaker 2: You know we do this every day. You need some

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Speaker 2: help and we can help you, So pick up the phone,

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Speaker 2: schedule time to meet with us. Eight three to three

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Speaker 2: Magi Tax. And our passion is for designing solutions for

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Speaker 2: our clients. It's unparalleled in the industry and that's why

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Speaker 2: we're different. You know, we have a niche where we

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Speaker 2: help people have taxes free retirement accounts and tax free income.

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Speaker 2: We provide specific strategies and IRIS approved solutions and why

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Speaker 2: it is so important to reduce your income taxes and

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Speaker 2: look forward to a future of a zero tax bracket.

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Speaker 2: You know, we have clients that are receiving one hundred

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Speaker 2: thousand dollars a year in income and are a pan

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Speaker 2: of diamond tax Why because they develop these plans. We

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Speaker 2: put together these plans for them, and guess what, they're

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Speaker 2: reaping the awards right now because now they don't have

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Speaker 2: to worry. They eliminated Uncle Sam forever.

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Speaker 5: You know.

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Speaker 3: And the thing here that we're trying to make you

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Speaker 3: understand is that we understand taxes. We understand the tax codes.

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Speaker 3: They are there and they have been there for years,

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Speaker 3: but maybe your tax prepairer is not using it. You know,

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Speaker 3: US taxes are poised to rise dramatically. Think about it.

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Speaker 3: In twenty twenty six. It's going to the Trump tax

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Speaker 3: cuts are going to expire, and the math is very

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Speaker 3: clear and very simple. We have the most up to

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Speaker 3: date strategies for anyone listening to our show wanting to

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Speaker 3: retire because that's the biggest question we get, Chris, can

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Speaker 3: I retire?

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Speaker 5: And when we sit.

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Speaker 3: Down and show you you can, you're probably in a

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Speaker 3: better situation that you can retire, only because you don't know.

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Speaker 3: Like Chris said, what you don't know and that happens

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Speaker 3: a lot.

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Speaker 2: Chris, right, absolutely, And that's why it's so important to

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Speaker 2: sit down and have a conversation. Why because you don't

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Speaker 2: know what you don't know? And if we can educate

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Speaker 2: you and we can show you that this is what

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Speaker 2: you're doing now and this is what you can do,

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Speaker 2: would you want to know? And the answer is absolutely so.

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Speaker 2: All you gotta do is pick up the phone, schedule

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Speaker 2: time to meet with us. We have obvioics on both

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Speaker 2: sides of the bay, and when you come in to

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Speaker 2: meet with us, we're gonna have a conversation. You know,

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Speaker 2: We're wanna learn more about You're gonna look at your situation,

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Speaker 2: your taxes, your accounts, figure out what your strategy is.

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Speaker 2: Do you have an income plan, do you have a

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Speaker 2: tax plan? Do you have an investment plan? Do you

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Speaker 2: have an estate plan? Do you have a Social Security

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Speaker 2: maximization plan? What about a Medicare plan? These are questions

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Speaker 2: that many retirees are answering in each and every day,

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Speaker 2: and they just don't get the answer because they don't

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Speaker 2: know where to go. Well, it's very simple eight three

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Speaker 2: to three, Maggie tax So.

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Speaker 5: Think about it.

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Speaker 3: Without these techniques that we're offering, you are at the

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Speaker 3: mercy of circumstances beyond your control. What do I mean

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Speaker 3: by that called legislative risk. Legislative risk means the Congress

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Speaker 3: can change the rules anytime it's written in pencil, and

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Speaker 3: every year we see this. So things are changing right now.

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Speaker 3: So like it or not, taxes are likely to rise,

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Speaker 3: and now is the time to reposition your assets now

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Speaker 3: to avoid higher taxes in the future. Now is the time, Chris,

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Speaker 3: How hard do we have to say that to people?

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Speaker 3: Because it's getting closer and closer to the Trump tax

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Speaker 3: cuts expiring and people that are listening to the show

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Speaker 3: may not even be aware of it.

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Speaker 5: But things are going to change.

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Speaker 2: Well, as I said, and you know, visit our website

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Speaker 2: at Maggietax dot com. There's so much information right there

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Speaker 2: at your fingertips to help you. And that's why we're here.

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Speaker 2: If you're serious about maximizing your income and retirement. We

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Speaker 2: use strategies to help our clients become as tax efficient

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Speaker 2: as possible. It's not just about what accounts do you have,

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Speaker 2: and you know we can do this and that, and

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Speaker 2: we can increase it and we can have this strategy.

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Speaker 2: It's not about that. It's about taxes. It's about the

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Speaker 2: whole picture. It's about complete planning. Yeah, you have a

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Speaker 2: CD at three or four or five percent whatever, but

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Speaker 2: what are you doing with that? How are you maximizing

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Speaker 2: on the tax side of it. That's what we're talking

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Speaker 2: about here. We can guide you through the coming tax

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Speaker 2: crisis by helping you take advantage of the power of

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Speaker 2: a zero percent tax bracket. Who wants to get there?

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Speaker 2: We can show you how to do it by using

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Speaker 2: the strategies that we develop a three to three Maggie tax.

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Speaker 3: And again we do advanced tax planning. We understand taxes.

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Speaker 3: When you come in, we'll sit down with you, we'll

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Speaker 3: go over your tax return line by line. Because if

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Speaker 3: you're looking for a roadmap to shield your hard earned

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Speaker 3: assets from the impact of taxes, we can help. I

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Speaker 3: say that every week by talking to you about the

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Speaker 3: strategies that we use. Have transformed retirement and protected them

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Speaker 3: from tax train wreck that is just around the corner.

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Speaker 3: Think about it, a tax train rock. That's what's coming, Chris.

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Speaker 2: And it doesn't have to be for you, and you

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Speaker 2: can get out of the way of that. And that's

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Speaker 2: why there are clients that are going to pay a

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Speaker 2: lot in taxes and then those clients who eliminated Uncle

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Speaker 2: Sam forever and ever now so don't have to worry

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Speaker 2: about that in the future. Many of our clients are

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Speaker 2: well prepared for retirement. You know, with just a little

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Speaker 2: bit of proactive planning, you can insulate yourself from the

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Speaker 2: threat of higher taxes by creating a total tax free

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Speaker 2: retirement plan. And how do you go about doing that, Well,

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Speaker 2: the first step is schedule time to meet with us.

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Speaker 2: We have office on both sides of the Bay and

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Speaker 2: every Sunday we have our TV show Maggie Tax Financial Group.

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Speaker 2: And guess what we know to talk about taxes and

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Speaker 2: tax planning and social security planning and income planning and

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Speaker 2: tax planning and investment planning. That's called the Maggie Plan.

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Speaker 2: That's the holistic approach that we take. But we take

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Speaker 2: it from a tax angle. Why because that's your biggest

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Speaker 2: expense and it will always be unless you eliminate Uncle Sam.

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Speaker 2: So how do you go about doing that? We can

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Speaker 2: help pick up the phone and schedule time to meet

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Speaker 2: with us. Eight three three, Maggie Tax.

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Speaker 3: It's called the Maggie Plan, simple and easy to understand.

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

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Speaker 3: investment plan. It's legacy planning, and many of you don't

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Speaker 3: have that, so give us a call eight three to three,

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Speaker 3: Maggie Tax. Be sure to visit our website, Maggie Tax

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Speaker 3: dot com. We have a lot of information on that site,

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Speaker 3: and be sure to click on the retirement calculator and

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Speaker 3: in thirty seconds we could show you what your retirement

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Speaker 3: bill will be. We have offices in Loots, we have

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Speaker 3: an office in Palm Harbor, and we have an office

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Speaker 3: in Saint Pete. Very easy for all of you to

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Speaker 3: get to visit our website, Maggie Tax dot com and

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Speaker 3: give us a call eight.

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Speaker 5: Three to three, Maggie Tax. That's eight three three, Maggie Tex.

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

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Speaker 1: own successful retirement. As we return to the Maggie Tax

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Speaker 1: Financial Show with your host Robert and Chris Maggie with

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Speaker 1: Maggie Tax and Wealth Advisors. For information on how you

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Speaker 1: can create a tax free retirement. Call eight three three

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Speaker 1: Maggie Tax or visit Maggie tax dot com. Now you're

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Speaker 1: host with Maggie Tax and Wealth Advisors, Robert and Chris Maggie.

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Speaker 2: Welcome back to the Megatax and Financial Show, and thank

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Speaker 2: you so much for tuning in and visit our website

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Speaker 2: at Maggie tax dot com. In thirty seconds, you can

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Speaker 2: find out what your tax bill would be in retirement.

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Speaker 2: If you have an IRA Form one K, you need

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Speaker 2: to understand what this number is why because it can't

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Speaker 2: affect your retirement future income.

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Speaker 4: Maggie Tax dot Com.

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Speaker 2: Up a right hand corner tax bill in retirement, Click

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Speaker 2: on it and you can discover what that will be.

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Speaker 2: But more importantly, schedule time to meet with us. There's

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Speaker 2: so much information to talk about. If you have questions

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Speaker 2: about how do I design an income plan for my

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Speaker 2: retirement where it has inflation built in and multiple income

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Speaker 2: sources and guaranteed income, how do I go about doing that?

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Speaker 4: We can help.

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Speaker 2: What if you're looking for an investment plan a lot

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Speaker 2: of volatility going on in the market, does it really

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Speaker 2: keep you up at night? Are you losing sleep? Do

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Speaker 2: you have questions? Do you really not know what's going on?

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Speaker 2: And you're afraid to open up your statements. Well, let's

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Speaker 2: get together and have a conversation about it, because there

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Speaker 2: might be some bucket planning that we could put together

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Speaker 2: to design for safety and growth and inflation and a

438
00:20:16,160 --> 00:20:18,840
Speaker 2: lot of other opportunities that are in the market today.

439
00:20:19,200 --> 00:20:21,920
Speaker 2: What about social security planning? Do you have questions about

440
00:20:21,920 --> 00:20:23,840
Speaker 2: how do I maximize it for me and my spouse?

441
00:20:24,119 --> 00:20:25,920
Speaker 2: What about a state planning? I want to leave all

442
00:20:25,960 --> 00:20:28,240
Speaker 2: this stuff to my heirs. I just don't know how

443
00:20:28,240 --> 00:20:30,040
Speaker 2: to do it. Is everything set up the right way? Well,

444
00:20:30,080 --> 00:20:32,240
Speaker 2: we can help these things that we do each and

445
00:20:32,280 --> 00:20:34,600
Speaker 2: every day to help you. So pick up the phone

446
00:20:34,640 --> 00:20:36,800
Speaker 2: a schedule time to meet with us. We look forward

447
00:20:36,800 --> 00:20:39,320
Speaker 2: to get in together with you. Eight three to three,

448
00:20:39,440 --> 00:20:40,159
Speaker 2: Maggie tax.

449
00:20:40,359 --> 00:20:42,159
Speaker 3: So the question I would ask is how many of

450
00:20:42,200 --> 00:20:46,239
Speaker 3: you have a complete plan or an incomplete plan? And

451
00:20:46,240 --> 00:20:48,320
Speaker 3: what Chris just mentioned on some of the things that

452
00:20:48,720 --> 00:20:51,800
Speaker 3: we see that people have an incomplete plan? So what

453
00:20:51,880 --> 00:20:54,159
Speaker 3: are you doing about it? You know what keeps you

454
00:20:54,280 --> 00:20:56,800
Speaker 3: up at night? What's that elephant in the room. Is

455
00:20:56,840 --> 00:21:00,880
Speaker 3: it about income? Is it about taxes? Is about your investments?

456
00:21:00,880 --> 00:21:03,560
Speaker 3: We know the volatility of the market is there, but

457
00:21:03,640 --> 00:21:06,200
Speaker 3: how are you prepared to take less risk and keep

458
00:21:06,240 --> 00:21:09,560
Speaker 3: more for yourself? And has anyone ever done a beneficiary

459
00:21:09,640 --> 00:21:12,879
Speaker 3: review for you? Quick example, We've had a client, a

460
00:21:12,920 --> 00:21:16,600
Speaker 3: couple clients this past year. They passed away and they

461
00:21:16,680 --> 00:21:20,560
Speaker 3: had beneficiary designations on there. They had POD and TOD

462
00:21:20,720 --> 00:21:23,440
Speaker 3: on their accounts and Chris, the money passed to their

463
00:21:23,440 --> 00:21:27,440
Speaker 3: beneficiaries probate free and it didn't have to go through

464
00:21:27,440 --> 00:21:32,280
Speaker 3: that process. And people make mistakes about estate planning, let's

465
00:21:32,320 --> 00:21:35,639
Speaker 3: call it enhanced planning. Do you have the list of

466
00:21:35,680 --> 00:21:39,760
Speaker 3: who you want your assets to go to and when

467
00:21:39,960 --> 00:21:42,280
Speaker 3: it should go to them and how much it should

468
00:21:42,359 --> 00:21:44,879
Speaker 3: go to them? Are you set up that way so

469
00:21:45,119 --> 00:21:47,639
Speaker 3: you know if you have an incomplete plan? Think about

470
00:21:47,640 --> 00:21:50,320
Speaker 3: what Chris and I are talking about. If it's about income,

471
00:21:50,359 --> 00:21:53,520
Speaker 3: it's about taxes. You confuse about your investments, you don't

472
00:21:53,600 --> 00:21:56,480
Speaker 3: understand them. We see this every day. We ask a

473
00:21:56,520 --> 00:21:58,959
Speaker 3: client bring in your statement, We ask them do they

474
00:21:59,040 --> 00:22:01,480
Speaker 3: understand their investments? And Chris, the answer that we get

475
00:22:01,520 --> 00:22:04,959
Speaker 3: all the time is well not really, that is just

476
00:22:04,960 --> 00:22:07,440
Speaker 3: not a good answer, and it's not because you worked hard.

477
00:22:07,480 --> 00:22:09,719
Speaker 3: You worked hard for the money you have, the assets

478
00:22:09,840 --> 00:22:11,639
Speaker 3: you have, and the worst thing you want to do

479
00:22:11,720 --> 00:22:13,800
Speaker 3: is either I have to go back to work or

480
00:22:13,840 --> 00:22:16,280
Speaker 3: be outlive your money. And most people that come in

481
00:22:16,600 --> 00:22:18,560
Speaker 3: and meet with us, we ask them, you know what

482
00:22:18,640 --> 00:22:20,879
Speaker 3: brought you in and the main question and the answer

483
00:22:20,920 --> 00:22:23,480
Speaker 3: is I want to make sure I don't outlive my

484
00:22:23,560 --> 00:22:26,679
Speaker 3: money and is that going to happen? And we have

485
00:22:26,760 --> 00:22:28,760
Speaker 3: to do the analysis to figure it out, and sometimes

486
00:22:28,800 --> 00:22:32,000
Speaker 3: we have to tell people yes, at this place and

487
00:22:32,800 --> 00:22:36,159
Speaker 3: with the assets that you have, you will outlive your money.

488
00:22:36,240 --> 00:22:39,480
Speaker 3: And that's where it's very, very scary. So can you retire?

489
00:22:39,920 --> 00:22:42,000
Speaker 3: We can show you we can. We can show you

490
00:22:42,359 --> 00:22:44,479
Speaker 3: the projections, we can show you what the guarantees are

491
00:22:44,480 --> 00:22:46,280
Speaker 3: going to be. We can show you that if you

492
00:22:46,359 --> 00:22:48,960
Speaker 3: have a concrete plan or a complete plan, then you'll

493
00:22:49,040 --> 00:22:52,639
Speaker 3: enjoy retirement. You'll have the inflation buckets coming in for

494
00:22:52,680 --> 00:22:55,119
Speaker 3: income in the future, you'll have the estate plan so

495
00:22:55,160 --> 00:22:57,120
Speaker 3: if anything happens to you a stay in your family.

496
00:22:57,520 --> 00:22:59,720
Speaker 3: That's what we call developing a plan, because if you

497
00:22:59,760 --> 00:23:02,600
Speaker 3: don't have a plan, guess what, you know what someone

498
00:23:02,720 --> 00:23:05,800
Speaker 3: who you don't know will make that plan for you

499
00:23:06,359 --> 00:23:08,200
Speaker 3: in the future because you didn't set it up the

500
00:23:08,280 --> 00:23:10,720
Speaker 3: right way. So check the boxes off. Do you have

501
00:23:10,760 --> 00:23:13,280
Speaker 3: a tax plan yes or no? Do you have an

502
00:23:13,320 --> 00:23:16,359
Speaker 3: income plan yes or no? Do you have an investment

503
00:23:16,400 --> 00:23:18,880
Speaker 3: plan or just laying that money right in the market.

504
00:23:19,160 --> 00:23:21,240
Speaker 3: Do you have an estate plan or an enhanced plan?

505
00:23:21,680 --> 00:23:24,639
Speaker 3: What about college planning for the children? Are you aware

506
00:23:24,680 --> 00:23:27,400
Speaker 3: if you have a mutual fund you're paying fees? How

507
00:23:27,400 --> 00:23:29,879
Speaker 3: many fees are you paying? The question is do you

508
00:23:29,920 --> 00:23:32,359
Speaker 3: know what your fees are paying? Because if you're paying fees,

509
00:23:32,400 --> 00:23:35,439
Speaker 3: it's eating aweight your retirement. So without a plan, like

510
00:23:35,560 --> 00:23:39,840
Speaker 3: Chris says, you have nothing. So everything we do, we

511
00:23:39,880 --> 00:23:42,160
Speaker 3: have to have a plan. What are you looking for

512
00:23:42,280 --> 00:23:45,360
Speaker 3: in an advisor that you would be willing to work with.

513
00:23:45,880 --> 00:23:48,120
Speaker 3: We just mentioned a bunch of topics that we would

514
00:23:48,119 --> 00:23:50,760
Speaker 3: talk to you about because we see this all the time. Well,

515
00:23:50,800 --> 00:23:54,320
Speaker 3: my advisor doesn't talk about tax planning. Chris or Bobby,

516
00:23:54,680 --> 00:23:56,800
Speaker 3: you know this is and when we ask them what

517
00:23:56,800 --> 00:23:58,720
Speaker 3: were you hoping for when you came in?

518
00:23:58,760 --> 00:24:00,680
Speaker 5: And he answer we get all the time as well,

519
00:24:01,160 --> 00:24:01,600
Speaker 5: not this.

520
00:24:02,040 --> 00:24:03,480
Speaker 2: Well, you know the thing about it is when you

521
00:24:03,520 --> 00:24:06,840
Speaker 2: talk about we asked that question, is your current avisor

522
00:24:06,840 --> 00:24:08,800
Speaker 2: you're talking about tax planning? And most of the time,

523
00:24:08,840 --> 00:24:11,720
Speaker 2: probably ninety five percent of the time, it's no. And

524
00:24:11,720 --> 00:24:13,840
Speaker 2: the question that I have is why. I mean, that's

525
00:24:13,840 --> 00:24:17,840
Speaker 2: your biggest expense. Taxes are our biggest expense, and it's

526
00:24:17,880 --> 00:24:20,159
Speaker 2: going to get worse. So think about this, your cruising

527
00:24:20,160 --> 00:24:24,120
Speaker 2: in retirement. Everything's going well, and guess what legislative risk happens?

528
00:24:24,119 --> 00:24:28,880
Speaker 2: And the tax code changes, and guess what less to you?

529
00:24:28,960 --> 00:24:30,960
Speaker 2: Because now you have to pay more to Uncle Sam,

530
00:24:31,080 --> 00:24:34,439
Speaker 2: So that income check every month goes down? And what

531
00:24:34,520 --> 00:24:37,840
Speaker 2: about inflation that's happening right now on top of it.

532
00:24:38,200 --> 00:24:40,400
Speaker 2: So you're in a situation where you have to change

533
00:24:40,440 --> 00:24:43,399
Speaker 2: your lifestyle in retirement. Is that what you want? The

534
00:24:43,440 --> 00:24:46,640
Speaker 2: answer is no. But could it happen to you?

535
00:24:46,760 --> 00:24:47,040
Speaker 4: Yes?

536
00:24:47,680 --> 00:24:49,679
Speaker 2: And if you don't have the right plan in place,

537
00:24:49,800 --> 00:24:53,520
Speaker 2: like an income plan, a tax plan, investment plan, then yes,

538
00:24:53,720 --> 00:24:56,199
Speaker 2: it could happen. And that's what you don't want. So

539
00:24:56,359 --> 00:24:59,280
Speaker 2: right now is a time, more than ever before, to

540
00:24:59,320 --> 00:25:01,960
Speaker 2: pick up the phone. Schedule a time, get a second opinion.

541
00:25:02,520 --> 00:25:04,920
Speaker 2: Do you have enough confidence in your current advisor? Get

542
00:25:04,960 --> 00:25:08,560
Speaker 2: a second opinion? Because it's about you it's about your money.

543
00:25:08,680 --> 00:25:12,240
Speaker 2: It's not about me or or your CPA or your

544
00:25:12,240 --> 00:25:15,240
Speaker 2: current advisor. It's not about that. It's about what you

545
00:25:15,359 --> 00:25:18,000
Speaker 2: want your money to do for you. Do you want

546
00:25:18,040 --> 00:25:20,240
Speaker 2: safe money, we can help. Do you want money in

547
00:25:20,280 --> 00:25:23,040
Speaker 2: the market where it's risky. We can design buckets like

548
00:25:23,080 --> 00:25:25,199
Speaker 2: that as well. But guess what. You have to have

549
00:25:25,240 --> 00:25:28,879
Speaker 2: a purpose with everything you do. Why because that's a plan.

550
00:25:28,960 --> 00:25:29,440
Speaker 4: We all hear.

551
00:25:29,520 --> 00:25:30,879
Speaker 2: Yeah, you need to have a plan in life. We

552
00:25:30,920 --> 00:25:32,720
Speaker 2: all get that. But the end of the day is

553
00:25:32,720 --> 00:25:35,360
Speaker 2: do you have a plan with your retirement? Take take

554
00:25:35,440 --> 00:25:37,760
Speaker 2: control of this and we can help eight three three

555
00:25:37,800 --> 00:25:38,560
Speaker 2: Maggie Tax.

556
00:25:38,680 --> 00:25:40,800
Speaker 3: So the biggest question for all of you listening today,

557
00:25:41,080 --> 00:25:43,679
Speaker 3: how can we at Maggie Tax and Financial help you.

558
00:25:44,200 --> 00:25:46,480
Speaker 3: That's the question. So when you come in, I want

559
00:25:46,520 --> 00:25:48,560
Speaker 3: to know the answer. How can we help you? You

560
00:25:48,560 --> 00:25:51,479
Speaker 3: know what upsets you every night when you put your

561
00:25:51,520 --> 00:25:54,280
Speaker 3: head on that pillow and your minds thoughts racing about

562
00:25:54,440 --> 00:25:57,560
Speaker 3: what you're worried about because you can't control it. You know,

563
00:25:57,920 --> 00:25:59,760
Speaker 3: what are you looking to change? And this is the

564
00:25:59,760 --> 00:26:04,240
Speaker 3: big question, Chris. Change has to happen in many cases

565
00:26:04,240 --> 00:26:07,399
Speaker 3: with people out there because they don't understand their investments.

566
00:26:07,600 --> 00:26:10,679
Speaker 3: They don't understand income planning. Their advice is not sitting

567
00:26:10,680 --> 00:26:13,560
Speaker 3: down and talking to them. So what would you change?

568
00:26:13,800 --> 00:26:17,160
Speaker 3: Think about that? What would you change if you were

569
00:26:17,280 --> 00:26:20,040
Speaker 3: educated on what you have that Maybe it's not the

570
00:26:20,119 --> 00:26:23,040
Speaker 3: right investment for you, maybe it's not the right plan

571
00:26:23,160 --> 00:26:26,359
Speaker 3: for you. When would you change it? And like I said,

572
00:26:26,480 --> 00:26:27,879
Speaker 3: what's the elephant in the room?

573
00:26:27,960 --> 00:26:28,560
Speaker 4: And that's just it.

574
00:26:28,640 --> 00:26:31,040
Speaker 2: You know, is your plan, your present plan, going to

575
00:26:31,119 --> 00:26:34,840
Speaker 2: get you where you want to go? Do you know unequivocally?

576
00:26:35,240 --> 00:26:37,800
Speaker 2: If that the answer is yes, If you are thinking

577
00:26:37,800 --> 00:26:41,080
Speaker 2: about it, well I'm really sure or I don't really know,

578
00:26:41,600 --> 00:26:44,159
Speaker 2: then you have to get a second opinion. You have

579
00:26:44,240 --> 00:26:46,320
Speaker 2: to look at this. You have to have someone look

580
00:26:46,359 --> 00:26:48,960
Speaker 2: at this for you so you can have that Yeah, absolutely,

581
00:26:49,040 --> 00:26:51,320
Speaker 2: I know absolutely my plan is going to give me

582
00:26:51,359 --> 00:26:53,399
Speaker 2: what I want in retirement and is doing it right now.

583
00:26:53,840 --> 00:26:57,000
Speaker 2: That's what you want, the confidence, the clarity, the control,

584
00:26:57,080 --> 00:26:59,000
Speaker 2: and that's what we can help you with. So pick

585
00:26:59,040 --> 00:27:00,639
Speaker 2: up the phone, schedule time to meet with us. We

586
00:27:00,680 --> 00:27:02,720
Speaker 2: look forward to meeting with you. We have office on

587
00:27:02,800 --> 00:27:05,360
Speaker 2: both sides of the bay to help you. A three

588
00:27:05,359 --> 00:27:08,200
Speaker 2: to three Maggie tax that's eight three to three Maggie Tax.

589
00:27:08,280 --> 00:27:11,000
Speaker 3: And here's the big question. Do you all do this

590
00:27:11,080 --> 00:27:14,200
Speaker 3: planning on your own? Think about this. The left brain

591
00:27:14,359 --> 00:27:17,479
Speaker 3: in you is the more to think about it. The

592
00:27:17,600 --> 00:27:20,639
Speaker 3: right brain is the solution side of your brain. We

593
00:27:20,720 --> 00:27:23,639
Speaker 3: have both sides working for us, Chris, the left and

594
00:27:23,680 --> 00:27:26,119
Speaker 3: the right. Because you're confused, you have to draw a

595
00:27:26,119 --> 00:27:28,959
Speaker 3: line in the sand. I can't understand planning, you know.

596
00:27:29,160 --> 00:27:31,240
Speaker 3: I think I'm okay, but I'm not. And most people

597
00:27:31,520 --> 00:27:35,400
Speaker 3: by what they want, not what they need. And that's

598
00:27:35,440 --> 00:27:38,200
Speaker 3: the issue that we try to talk about. What do

599
00:27:38,280 --> 00:27:38,840
Speaker 3: you want?

600
00:27:39,280 --> 00:27:41,119
Speaker 5: You know? What are your needs? How much income do

601
00:27:41,160 --> 00:27:42,040
Speaker 5: you want? You know?

602
00:27:42,119 --> 00:27:46,000
Speaker 3: Does your advisor have a process, Maggie tax advisor, We

603
00:27:46,080 --> 00:27:48,280
Speaker 3: have a process. We come in and you come in

604
00:27:48,280 --> 00:27:50,760
Speaker 3: and meet with us. We ask you questions, you ask

605
00:27:50,880 --> 00:27:53,399
Speaker 3: us questions. We do a balance sheet, so we know

606
00:27:53,440 --> 00:27:56,359
Speaker 3: where your assets are. We know what the qualified money

607
00:27:56,400 --> 00:27:59,080
Speaker 3: is non qualified money. We know where your bank accounts

608
00:27:59,080 --> 00:28:02,000
Speaker 3: are if they're titled right. Does your advisor do all this?

609
00:28:02,440 --> 00:28:04,840
Speaker 3: We call it red money, green money, and on my

610
00:28:04,880 --> 00:28:06,440
Speaker 3: website you can take a look at it.

611
00:28:06,560 --> 00:28:07,920
Speaker 5: But look, if you're taking.

612
00:28:07,760 --> 00:28:10,199
Speaker 3: Too much risk and you don't know it, folks, you

613
00:28:10,200 --> 00:28:12,280
Speaker 3: know Chris does this all the time. When are you

614
00:28:12,320 --> 00:28:14,280
Speaker 3: going to realize that you don't have to take all

615
00:28:14,320 --> 00:28:17,080
Speaker 3: that risk, you don't have to pay all those fees,

616
00:28:17,480 --> 00:28:19,359
Speaker 3: and you don't have to see your account go down

617
00:28:19,520 --> 00:28:22,560
Speaker 3: because your advisor says, well, everybody else is losing.

618
00:28:22,800 --> 00:28:24,840
Speaker 5: No, it's not true, Chris, that's not true.

619
00:28:24,920 --> 00:28:25,560
Speaker 4: Well that's just it.

620
00:28:25,720 --> 00:28:27,520
Speaker 2: You know, why follow the crowd and you don't have

621
00:28:27,600 --> 00:28:30,879
Speaker 2: to just because your advisor says everyone else has lost money?

622
00:28:30,880 --> 00:28:33,080
Speaker 2: But where is it written that you have to lose

623
00:28:33,080 --> 00:28:35,439
Speaker 2: thirty forty percent? Where is it written that you have

624
00:28:35,520 --> 00:28:39,680
Speaker 2: to go down that route. I'm frustrated because you don't

625
00:28:39,720 --> 00:28:42,480
Speaker 2: have to. I have clients that come in and they're like, well,

626
00:28:42,520 --> 00:28:44,160
Speaker 2: you know, this is what it is. We lost three

627
00:28:44,200 --> 00:28:47,880
Speaker 2: hundred thousand dollars with our old advisor. Why doesn't have

628
00:28:47,920 --> 00:28:48,600
Speaker 2: to be that way?

629
00:28:49,000 --> 00:28:49,760
Speaker 4: You know, maybe.

630
00:28:49,560 --> 00:28:52,520
Speaker 2: You're younger and you got time on your side and

631
00:28:52,520 --> 00:28:55,200
Speaker 2: you can absorb some of these losses. But guess what,

632
00:28:55,280 --> 00:28:58,000
Speaker 2: you're in retirement. Why go down two, three, four, five

633
00:28:58,080 --> 00:28:59,000
Speaker 2: hundred thousand dollars?

634
00:28:59,080 --> 00:29:01,640
Speaker 4: Why? You know that's up to you, but you don't

635
00:29:01,680 --> 00:29:02,040
Speaker 4: have to.

636
00:29:02,520 --> 00:29:04,360
Speaker 2: You know, where is it written that you have to

637
00:29:04,400 --> 00:29:08,280
Speaker 2: lose twenty thirty forty percent like everybody else, it's not there.

638
00:29:08,320 --> 00:29:10,120
Speaker 2: You don't have to go down that route if you

639
00:29:10,160 --> 00:29:12,400
Speaker 2: don't want to, So pick up the phone, schedule a

640
00:29:12,440 --> 00:29:14,920
Speaker 2: time to meet with us. Let's show you bucket planning.

641
00:29:14,960 --> 00:29:17,720
Speaker 2: Let's put together a plan for you. Buckets. What are

642
00:29:17,800 --> 00:29:21,200
Speaker 2: buckets Buckets with a purpose. You have buckets for safety.

643
00:29:21,240 --> 00:29:23,560
Speaker 2: You have buckets for inflation. You have buckets for future

644
00:29:23,600 --> 00:29:27,160
Speaker 2: guaranteed income. You have buckets for the volatility control. You

645
00:29:27,200 --> 00:29:29,760
Speaker 2: have buckets to take advantage of the opportunity in the

646
00:29:29,800 --> 00:29:32,160
Speaker 2: markets down. You have buckets to take advantage when the

647
00:29:32,200 --> 00:29:35,840
Speaker 2: market goes down. You have buckets out there to provide

648
00:29:35,920 --> 00:29:39,080
Speaker 2: buffer and strategies to protection against no loss in the market.

649
00:29:39,080 --> 00:29:41,440
Speaker 2: How do you go about doing these things? Because every

650
00:29:41,480 --> 00:29:43,720
Speaker 2: account needs to have a purpose based on what you

651
00:29:43,800 --> 00:29:44,760
Speaker 2: are looking for?

652
00:29:45,160 --> 00:29:46,440
Speaker 4: What is it that you want?

653
00:29:47,040 --> 00:29:48,640
Speaker 2: That's the question. When you come in, We're going to

654
00:29:48,640 --> 00:29:50,200
Speaker 2: ask you that question. We're going to listen to you,

655
00:29:50,560 --> 00:29:52,880
Speaker 2: we're going to hear you. We're going to make this

656
00:29:53,080 --> 00:29:55,720
Speaker 2: very very real for you to try to accomplish what

657
00:29:55,760 --> 00:29:58,120
Speaker 2: you are looking for. We're going to educate you. We

658
00:29:58,160 --> 00:30:00,520
Speaker 2: going to take our time. We're going to build a confidence,

659
00:30:00,800 --> 00:30:03,080
Speaker 2: build the clarity, and you're going to have the control

660
00:30:03,120 --> 00:30:05,360
Speaker 2: in retirement. If that's what you want, you can pick

661
00:30:05,400 --> 00:30:07,760
Speaker 2: up the phone in schedule time to meet with us.

662
00:30:07,800 --> 00:30:10,240
Speaker 2: We look forward a meeting with you. Why because this

663
00:30:10,400 --> 00:30:13,080
Speaker 2: is real. Things are changing and you need to be

664
00:30:13,120 --> 00:30:15,720
Speaker 2: on the other side to take advantage of these opportunities

665
00:30:15,960 --> 00:30:18,200
Speaker 2: as opposed to falling victim to them.

666
00:30:18,400 --> 00:30:20,240
Speaker 4: So pick up the phone. We look photo meeting with you.

667
00:30:20,360 --> 00:30:23,800
Speaker 2: Eight three three Maggie Tax and don't forget every Sunday

668
00:30:24,080 --> 00:30:26,880
Speaker 2: for the Magi Tax and Financial Show on tv ABC

669
00:30:27,080 --> 00:30:30,800
Speaker 2: TV at ten thirty am. Visit our website Maggie Tax

670
00:30:30,880 --> 00:30:33,680
Speaker 2: dot com. Schedule time to meet with us. Eight three

671
00:30:33,840 --> 00:30:35,200
Speaker 2: three Magi Tax.

672
00:30:36,360 --> 00:30:39,960
Speaker 1: Stop funding Uncle Sam's retirement and start planning for your

673
00:30:39,960 --> 00:30:43,440
Speaker 1: own successful retirement. As we return to the Maggie Tax

674
00:30:43,480 --> 00:30:46,880
Speaker 1: Financial Show with your host Robert and Chris Maggie with

675
00:30:47,000 --> 00:30:50,160
Speaker 1: Maggie Tax and Wealth Advisors. For information on how you

676
00:30:50,200 --> 00:30:53,760
Speaker 1: can create a tax free retirement. Call eight three three

677
00:30:54,200 --> 00:30:58,440
Speaker 1: Maggie Tax, or visit Maggie Tax dot com. Now your

678
00:30:58,520 --> 00:31:01,360
Speaker 1: host with Maggie Tax and Wealth with Advisors Robert and

679
00:31:01,440 --> 00:31:02,440
Speaker 1: Chris Maggie.

680
00:31:02,920 --> 00:31:03,440
Speaker 5: Welcome back.

681
00:31:03,480 --> 00:31:05,080
Speaker 3: My name is Robert Maggie and you're listening to the

682
00:31:05,080 --> 00:31:07,320
Speaker 3: Maggie Tax and Financial Show, and I'm here with my son,

683
00:31:07,400 --> 00:31:09,760
Speaker 3: Chris Maggie. So let's go back to a couple of things.

684
00:31:09,800 --> 00:31:12,760
Speaker 3: We talked about about the hidden tax. So what would

685
00:31:12,800 --> 00:31:15,000
Speaker 3: you do if you were presented with a retirement plan

686
00:31:15,080 --> 00:31:18,880
Speaker 3: that lost seven point five percent every year? So if

687
00:31:18,880 --> 00:31:21,480
Speaker 3: you're not diversified when it comes to the tax status

688
00:31:21,480 --> 00:31:24,800
Speaker 3: of your retirement accounts, that could be exactly what you're doing.

689
00:31:24,880 --> 00:31:28,160
Speaker 3: And many of you are financial advisors are accustomed to

690
00:31:28,200 --> 00:31:31,680
Speaker 3: building plans to protect against market losses, and I challenge

691
00:31:31,720 --> 00:31:34,240
Speaker 3: that too, because we've seen many clients come in that

692
00:31:34,440 --> 00:31:36,719
Speaker 3: they are losing money and nothing's been done about it.

693
00:31:37,000 --> 00:31:39,480
Speaker 3: Sometimes I wonder if they actually do that on purpose.

694
00:31:39,960 --> 00:31:42,520
Speaker 3: But a loss from tax policy change can be just

695
00:31:42,560 --> 00:31:45,479
Speaker 3: as impactful. A loss is a loss regardless of what

696
00:31:45,520 --> 00:31:48,120
Speaker 3: it caused. So it's time to add tax risk to

697
00:31:48,160 --> 00:31:50,600
Speaker 3: the checklist that you need to look at. We talked

698
00:31:50,600 --> 00:31:53,400
Speaker 3: about market risk, we talked about income risk, and we're

699
00:31:53,400 --> 00:31:56,560
Speaker 3: now talking about tax risk. And Folks, if your plan

700
00:31:56,680 --> 00:32:00,400
Speaker 3: is just built on growth, and you know having money

701
00:32:00,440 --> 00:32:02,160
Speaker 3: in the account, a big pile of money, then what's

702
00:32:02,160 --> 00:32:04,680
Speaker 3: the rest of the story, Chris. They don't have anything

703
00:32:04,800 --> 00:32:06,800
Speaker 3: in case the market goes down. We talked about that,

704
00:32:07,120 --> 00:32:09,000
Speaker 3: they don't have an income plan in case. Then when

705
00:32:09,000 --> 00:32:11,560
Speaker 3: they retire, what they do. And the big thing now,

706
00:32:11,600 --> 00:32:13,640
Speaker 3: when the Trump tax cuts expired, they don't have a

707
00:32:13,680 --> 00:32:14,160
Speaker 3: tax plan.

708
00:32:14,240 --> 00:32:15,200
Speaker 5: What the hell is going on?

709
00:32:15,280 --> 00:32:16,640
Speaker 2: Well, that's just it. And you know, think about this

710
00:32:16,720 --> 00:32:19,040
Speaker 2: the analogy. I'll put it together for everyone listening today.

711
00:32:19,080 --> 00:32:21,120
Speaker 2: I mean, think about a football game, right, you know,

712
00:32:21,160 --> 00:32:24,280
Speaker 2: you're all excited, your favorite team. They're up at halftime,

713
00:32:24,360 --> 00:32:27,520
Speaker 2: it's twenty to three, and my gosh, the game's over, right,

714
00:32:27,960 --> 00:32:30,600
Speaker 2: but guess what. You know, you're accumulating, you're building up

715
00:32:30,880 --> 00:32:33,640
Speaker 2: the score. But guess what happens the second half of

716
00:32:33,640 --> 00:32:36,440
Speaker 2: the game. Well, Uncle Sam comes and guess what you

717
00:32:36,560 --> 00:32:39,160
Speaker 2: lose by a field goal. It's twenty three to twenty

718
00:32:39,600 --> 00:32:42,800
Speaker 2: because Uncle Sam comes back with the taxes. And that's

719
00:32:42,840 --> 00:32:46,160
Speaker 2: what we're talking about here. Yeah, market risk is real.

720
00:32:46,600 --> 00:32:50,720
Speaker 2: We might mitigate it through asset allocation. Yes, every advisor

721
00:32:50,760 --> 00:32:53,240
Speaker 2: can do that. You can do it yourself, it's pretty simple.

722
00:32:53,600 --> 00:32:56,480
Speaker 2: What about income risk, Well, that's really real because we

723
00:32:56,560 --> 00:32:59,040
Speaker 2: might mitigate it through the use of different types of

724
00:32:59,040 --> 00:33:03,440
Speaker 2: products that have guarantees, like annuities or safe annuities, whatever

725
00:33:03,480 --> 00:33:06,200
Speaker 2: it is to have guaranteed streams of income, create your

726
00:33:06,200 --> 00:33:10,400
Speaker 2: own family pension. But the tax risk that is really real.

727
00:33:10,720 --> 00:33:13,080
Speaker 2: You know, we must mitigate this risk to the use

728
00:33:13,120 --> 00:33:16,720
Speaker 2: of tax free strategies. And how are you going about

729
00:33:16,760 --> 00:33:20,000
Speaker 2: doing that with your plan with your investments? Where is

730
00:33:20,040 --> 00:33:23,120
Speaker 2: your tax free money? Because it's if you don't have

731
00:33:23,200 --> 00:33:25,880
Speaker 2: tax free money, it's going to cause less income in

732
00:33:25,920 --> 00:33:28,240
Speaker 2: the future. And when you showed you through the examples

733
00:33:28,240 --> 00:33:31,040
Speaker 2: we talked about today, that hidden tax risk number one.

734
00:33:31,560 --> 00:33:35,040
Speaker 2: Inflation could be number two, and just those two alone

735
00:33:35,120 --> 00:33:38,040
Speaker 2: could be over a ten percent decline in your accounts

736
00:33:38,080 --> 00:33:40,280
Speaker 2: every year. Because you have to account for this, it

737
00:33:40,280 --> 00:33:43,760
Speaker 2: means less income for you when you need it most.

738
00:33:43,840 --> 00:33:45,440
Speaker 2: So that's why it's so important to pick up the phone,

739
00:33:45,520 --> 00:33:48,160
Speaker 2: schedule time to meet with us eight three to three

740
00:33:48,200 --> 00:33:50,760
Speaker 2: MAGI tax eight three to three MAGI tax.

741
00:33:50,920 --> 00:33:53,040
Speaker 5: Now, one other thing we do seminars every month.

742
00:33:53,080 --> 00:33:55,120
Speaker 3: We do it on tax planning, we do it on

743
00:33:55,160 --> 00:33:57,680
Speaker 3: social security, and the big one we do on wills

744
00:33:57,720 --> 00:33:59,720
Speaker 3: and trusts. Because many of you a couple things we're

745
00:33:59,720 --> 00:34:02,040
Speaker 3: talking about today don't have a will and don't have

746
00:34:02,120 --> 00:34:04,800
Speaker 3: a trust, and you don't have your beneficiary set up

747
00:34:04,800 --> 00:34:08,200
Speaker 3: correctly in the accounts, and that's the most important part.

748
00:34:08,239 --> 00:34:09,680
Speaker 3: So when you come, we're going to ask you the

749
00:34:09,760 --> 00:34:11,839
Speaker 3: question do you have a will? And if you're listening

750
00:34:11,960 --> 00:34:13,919
Speaker 3: right now and you don't, give my office a call,

751
00:34:14,239 --> 00:34:16,080
Speaker 3: sit down with us will show you exactly what you

752
00:34:16,120 --> 00:34:16,400
Speaker 3: can do.

753
00:34:16,440 --> 00:34:17,160
Speaker 5: It's very simple.

754
00:34:17,200 --> 00:34:19,719
Speaker 3: We work with a national group of attorneys so that

755
00:34:19,760 --> 00:34:21,959
Speaker 3: we can get the will or the trust package done.

756
00:34:21,960 --> 00:34:24,880
Speaker 3: And another thing, a big important thing is most people

757
00:34:24,920 --> 00:34:27,759
Speaker 3: concerned about their home and what happens when you die.

758
00:34:27,800 --> 00:34:29,160
Speaker 3: Who's it going to go to? Well, do you have

759
00:34:29,200 --> 00:34:32,040
Speaker 3: a quit claim deed or a lady bird deed? And

760
00:34:32,120 --> 00:34:33,800
Speaker 3: many of you listening today are looking at me or

761
00:34:33,880 --> 00:34:36,560
Speaker 3: listening to me and going like no, Well, that's why

762
00:34:36,600 --> 00:34:38,279
Speaker 3: you need to meet with us. Eight three to three

763
00:34:38,360 --> 00:34:41,840
Speaker 3: Maggie Tax. Visit my website Maggie Tax dot com. On

764
00:34:41,920 --> 00:34:44,960
Speaker 3: the top where it says seminars, it'll show you the seminars.

765
00:34:44,480 --> 00:34:46,480
Speaker 5: That we're doing. They're held at a library.

766
00:34:46,600 --> 00:34:49,160
Speaker 3: There's no cost, there's no lunch, there's nothing that you

767
00:34:49,200 --> 00:34:50,879
Speaker 3: have to do but show up and watch the three

768
00:34:50,960 --> 00:34:51,720
Speaker 3: and one seminar.

769
00:34:51,800 --> 00:34:52,200
Speaker 5: That we do.

770
00:34:52,719 --> 00:34:54,759
Speaker 3: And I'll say it this way, because your advisor is

771
00:34:54,800 --> 00:34:58,520
Speaker 3: not talking about social Security. He's not discussing tax planning

772
00:34:58,520 --> 00:35:00,960
Speaker 3: with you or income planning like Chris and I are

773
00:35:01,000 --> 00:35:03,399
Speaker 3: discussing today. And you have to come in and take

774
00:35:03,400 --> 00:35:05,479
Speaker 3: a look at it from a different lens because things

775
00:35:05,520 --> 00:35:08,719
Speaker 3: are changing and legislative risk is right here, meaning that

776
00:35:09,400 --> 00:35:12,120
Speaker 3: congres can change the rules Chris, any single time they want,

777
00:35:12,200 --> 00:35:13,880
Speaker 3: and they're going to change it in two years. And

778
00:35:13,920 --> 00:35:16,399
Speaker 3: you know what, people are listening, but they're not doing

779
00:35:16,400 --> 00:35:18,200
Speaker 3: anything about it. And in a year from now, people

780
00:35:18,239 --> 00:35:20,200
Speaker 3: are going to go, oh my god, what am I

781
00:35:20,239 --> 00:35:22,399
Speaker 3: going to do? Well, that may be too late. So

782
00:35:22,440 --> 00:35:24,680
Speaker 3: that's why we're challenging you. Pick up the phone eight

783
00:35:24,760 --> 00:35:27,160
Speaker 3: three to three, Maggie Tax. I visit my website Maggie

784
00:35:27,160 --> 00:35:29,800
Speaker 3: tax dot com. On the top right, you'll see retirement

785
00:35:29,840 --> 00:35:33,279
Speaker 3: tax bill. Click it, put the information in, and in

786
00:35:33,360 --> 00:35:35,759
Speaker 3: thirty seconds, I can tell you what your retirement tax

787
00:35:35,800 --> 00:35:38,240
Speaker 3: bill will be. And my goodness, Chris, if that doesn't

788
00:35:38,239 --> 00:35:39,240
Speaker 3: wake them up, I don't.

789
00:35:39,080 --> 00:35:39,560
Speaker 5: Know what will.

790
00:35:39,719 --> 00:35:42,480
Speaker 2: Well, that's it, you know, the tax, the hidden tax impact.

791
00:35:42,520 --> 00:35:46,280
Speaker 2: That's what we're talking about today, And you're right, most

792
00:35:46,320 --> 00:35:49,520
Speaker 2: people aren't thinking about this, but there are clients that

793
00:35:49,600 --> 00:35:50,839
Speaker 2: are doing something about it.

794
00:35:50,880 --> 00:35:52,520
Speaker 4: But there needs to be more.

795
00:35:52,960 --> 00:35:55,760
Speaker 2: More people need to be aware of what's going to happen,

796
00:35:55,760 --> 00:35:57,160
Speaker 2: and most advisors don't care.

797
00:35:57,600 --> 00:35:58,480
Speaker 4: It's pretty simple.

798
00:35:58,520 --> 00:36:02,399
Speaker 2: Most advisors have no no care for you paying high

799
00:36:02,440 --> 00:36:04,920
Speaker 2: in taxes because that's not how their firm is built.

800
00:36:04,920 --> 00:36:07,200
Speaker 2: But at our firm it is. We want you to

801
00:36:07,239 --> 00:36:09,560
Speaker 2: go ahead and pay least amount taxes possible, have more

802
00:36:09,560 --> 00:36:11,759
Speaker 2: income in a most tax efficient way, and have your

803
00:36:11,800 --> 00:36:14,839
Speaker 2: investments grow and accumulate based on the risk that you want.

804
00:36:14,920 --> 00:36:16,759
Speaker 2: That's what we do. And we wrap it up why

805
00:36:16,800 --> 00:36:18,800
Speaker 2: doing a state planning and we have all your accounts,

806
00:36:18,840 --> 00:36:21,080
Speaker 2: make sure that they stay in your family and not

807
00:36:21,160 --> 00:36:24,000
Speaker 2: go through probate and uncle Sam. So when you sit

808
00:36:24,040 --> 00:36:26,399
Speaker 2: down and you start thinking about what you want in

809
00:36:26,440 --> 00:36:29,560
Speaker 2: your retirement plan, pick up the phone, schedule time to

810
00:36:29,600 --> 00:36:29,880
Speaker 2: meet with this.

811
00:36:30,000 --> 00:36:31,759
Speaker 4: Let's just have a conversation. You know.

812
00:36:31,880 --> 00:36:34,400
Speaker 2: Visit our website at maggietax dot com. My dad mentioned

813
00:36:34,400 --> 00:36:37,000
Speaker 2: this click on the top right hand corner of the

814
00:36:37,040 --> 00:36:40,400
Speaker 2: retirement time bomb. My gosh, the tax bill is huge.

815
00:36:40,440 --> 00:36:43,399
Speaker 2: If you put your IRA amount in there, or your

816
00:36:43,440 --> 00:36:46,440
Speaker 2: TSP or your qualified account you'll see what the tax

817
00:36:46,920 --> 00:36:50,319
Speaker 2: impact is going to be and you might get very

818
00:36:50,360 --> 00:36:52,960
Speaker 2: sick by seeing that. And that's that today is low rates.

819
00:36:53,040 --> 00:36:55,560
Speaker 2: What about when they rise? And that's what we're talking

820
00:36:55,560 --> 00:37:00,239
Speaker 2: about today. Tax risk, legislative risk, income risk, market risk,

821
00:37:00,360 --> 00:37:04,080
Speaker 2: social security, maximization risk. Pick up the phone, schedule time

822
00:37:04,120 --> 00:37:06,200
Speaker 2: to meet with us A three three Maggie Tax, and

823
00:37:06,200 --> 00:37:06,720
Speaker 2: don't forget.

824
00:37:06,760 --> 00:37:09,759
Speaker 3: Every Sunday at ten thirty on ABC TV, tune into

825
00:37:09,800 --> 00:37:12,000
Speaker 3: the Maggie Tax and Financial Show. And then right after

826
00:37:12,040 --> 00:37:15,480
Speaker 3: that we're back on the radio on nine to seventy WFLA.

827
00:37:15,560 --> 00:37:16,879
Speaker 5: So we're giving you a lot of help.

828
00:37:17,160 --> 00:37:19,160
Speaker 3: We're trying to make you see it from a different

829
00:37:19,239 --> 00:37:21,879
Speaker 3: lens because there's so much going to be changing right now.

830
00:37:21,960 --> 00:37:24,560
Speaker 3: Chris mentioned the word legislative risk, and that's going to

831
00:37:24,600 --> 00:37:27,719
Speaker 3: be affecting everybody. I don't care if you're young, old,

832
00:37:27,800 --> 00:37:30,160
Speaker 3: or whatever in between. So give us a call eight

833
00:37:30,239 --> 00:37:33,160
Speaker 3: three to three Maggie Tax. It's time to sit down

834
00:37:33,280 --> 00:37:38,759
Speaker 3: and put a plan together, holistic plan that includes taxes, income, investments,

835
00:37:38,960 --> 00:37:41,560
Speaker 3: and more important wills and trust. If you don't have that,

836
00:37:41,840 --> 00:37:44,240
Speaker 3: give us a call eight three to three Magi Tax.

837
00:37:44,480 --> 00:37:46,880
Speaker 3: Be sure to visit our website Maggie Tax dot com.

838
00:37:47,080 --> 00:37:49,920
Speaker 3: Tune in every Sunday ten thirty on ABC TV to

839
00:37:50,000 --> 00:37:52,560
Speaker 3: the Maggie Tax and Financial Show. So pick up the phone,

840
00:37:52,560 --> 00:37:54,600
Speaker 3: call us an eight three three Magi Tax and be

841
00:37:54,600 --> 00:37:55,440
Speaker 3: sure to visit.

842
00:37:55,280 --> 00:37:58,520
Speaker 5: Maggie Tax dot com. That's eight three to three Maggie Tax.

843
00:37:58,840 --> 00:38:01,640
Speaker 1: Thank you for listening to Maggie Tax and Financial Show

844
00:38:01,680 --> 00:38:05,440
Speaker 1: with Robert and Chris. Maggie of Maggie Tax Wealth Advisors.

845
00:38:05,560 --> 00:38:08,879
Speaker 1: Listen here five to six pm every Saturday and from

846
00:38:08,880 --> 00:38:11,880
Speaker 1: eleven am till noon every Sunday, or any time on

847
00:38:11,960 --> 00:38:15,160
Speaker 1: the free iHeartRadio app. And remember you can pay less

848
00:38:15,239 --> 00:38:19,360
Speaker 1: tax with Maggie Tax Program. Content provided by Maggie Tax

849
00:38:19,360 --> 00:38:22,680
Speaker 1: Wealth and Advisors. Call them at eight three three Maggie

850
00:38:22,680 --> 00:38:28,760
Speaker 1: Tax or visit them online at Maggietax dot com