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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 nest day from Uncle Sam. 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 to another powerful episode of The Maggie Tax and

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Speaker 2: Wealth Adviser Show, and thanks for joining us today. My

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

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Speaker 2: Chris Maggie where we don't just talk about retirement. We

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Speaker 2: build it, we protect it, and we help you make

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Speaker 2: the most of the years that you've worked so hard for.

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Speaker 3: And today's show is packed.

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Speaker 2: We're diving into four pillars of a successful retirement that

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Speaker 2: most people never get right. Oh they take it, they

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Speaker 2: wait too long, and the right consequence of missing even

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Speaker 2: one of these can be devastating. So Chris, let's get started,

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Speaker 2: because here's what we're going.

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Speaker 3: To cover today.

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Speaker 2: Go over what we're going to cover today, because, by

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Speaker 2: the way, a lot of people have questions. Give us

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Speaker 2: a call at eight three to three Maggie Tax. Be

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Speaker 2: sure to visit our website Maggie Tax dot com. And

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Speaker 2: every Sunday on ABC at ten thirty, tune into the

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Speaker 2: Maggie Tax and Financial Show.

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Speaker 4: Yeah, I'm Chris, Maggie. Thank you so much for tuning

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Speaker 4: in and each and every week we're so glad to

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Speaker 4: be here because there's so much to talk about. Education

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Speaker 4: is so important and so valuable and if you're educated

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Speaker 4: on what you can do, then you can make the

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Speaker 4: right decisions for your retirement. So what are we going

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Speaker 4: to cover today? Well, first, income planning during retirement, how

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Speaker 4: to build a paycheck that lasts as long as you do.

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Speaker 4: We're also going to talk about wealth planning. You know

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Speaker 4: how to coordinate your investments, your taxes, income, and also

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Speaker 4: legacies so everything works together. And also third, in a

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Speaker 4: third segment today, we're going to talk about paycheck and

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Speaker 4: play checks. Yeah, I set it, paychecks and playchecks.

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Speaker 2: What's that?

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Speaker 4: Well, a system that helps retirees enjoy their money without

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Speaker 4: the fear of running it out and spending on whatever

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Speaker 4: they want. And also, finally, rothology. This is really really

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Speaker 4: a special, special word that we love to talk about

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Speaker 4: because it's a proven strategy for turning taxable money into

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Speaker 4: tax free income forever and diffusing the IRS time bomb

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Speaker 4: that's hidden inside your IRA.

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Speaker 2: And one thing that you need to understand and don't

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Speaker 2: be afraid to ask, ask about a raw conversion because

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Speaker 2: right now people are concerned about tax free money and

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Speaker 2: how to do it. Yes, you have to pay taxes,

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Speaker 2: but let us show you how what Chris mentioned rothology works.

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Speaker 2: We do this all the time, but it's important. So

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Speaker 2: if you have any questions, pick up the phone call

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Speaker 2: eight three to three Maggie Tax and throughout today's show,

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Speaker 2: we're going to be talking about a lot of that.

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Speaker 2: So again, unless you ask, and unless you find out

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Speaker 2: the right answer, you're probably going to do it wrong.

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Speaker 2: So this is the kind of information that most people

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Speaker 2: never hear until it's too late. But you don't have

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Speaker 2: to be one of them. That's why we do the show.

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Speaker 3: So if you're.

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Speaker 2: Listening right now and you've been meaning to get your

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Speaker 2: retirement planned reviewed, now's your opportunity. Or you're wondering if

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Speaker 2: you're doing the right thing. Maybe you need a review,

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Speaker 2: that's what we can help you with. Or you just

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Speaker 2: want clarity and confidence. This is your moment to act.

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Speaker 2: Eight three to three Maggie Tax. Visit our website Maggie

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Speaker 2: tex dot com, and again be sure to visit our

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Speaker 2: and watch our show tomorrow on ABC TV at ten thirty.

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Speaker 4: So set your appointment to come in and meet with us,

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Speaker 4: because when you come in, we're going to sit down

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Speaker 4: and we're going to analyze a lot of different areas

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Speaker 4: from your taxes, from your investments, and also we're going

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Speaker 4: to talk about during this segment the income planning during retirement.

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Speaker 4: And this is where we're starting today and what I

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Speaker 4: believe is the most simple and also single most important

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Speaker 4: question in retirement. How do you replace the paycheck? How

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Speaker 4: do you replace the paycheck? Many people are sitting home

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Speaker 4: today thinking how do I do that? Can I retire?

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Speaker 4: You know what does that look like? Well, we retire

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Speaker 4: every day. You know, many people just retire once, but

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Speaker 4: we retire each and every day because think about it,

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Speaker 4: for thirty, forty, maybe even fifty years of your life

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Speaker 4: has been built around a steady check. Each and every

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Speaker 4: two weeks. You planned around it, you lived on with it,

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Speaker 4: you depended on it, and then suddenly, one day, guess what,

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Speaker 4: it just stops. So what do you do? You try

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Speaker 4: to plan for it. Well, the builds don't stop, inflation

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Speaker 4: doesn't stop, taxes don't stop, your lifestyle doesn't want to stop,

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Speaker 4: but the paycheck does. And that's why income planning is

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Speaker 4: not optional. It's survival, it's confidence, it's freedom. So without

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Speaker 4: a written income strategy, retirement becomes a guessing game, and

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Speaker 4: guesswork is where fear lives. So when we're talking about

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Speaker 4: income planning, Dad, so many people come in and they say,

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Speaker 4: I want to retire, but they got no plan. And

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Speaker 4: that's why they come to us because we can show

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Speaker 4: them what their income plan looks like so they don't

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Speaker 4: have to worry about the paycheck.

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Speaker 2: Well, what are the things when you mentioned we see

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Speaker 2: it every day, is that people come in with piles

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Speaker 2: of money. What they have is piles of money, but

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Speaker 2: don't have income buckets or you know buckets that's going

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Speaker 2: to give them the guaranteed income that they need for

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Speaker 2: the rest.

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Speaker 3: Of their life.

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Speaker 2: And the truth is, you know, Chris, people don't sit

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Speaker 2: down with an advisor. And one of the things that

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Speaker 2: we do as well, we do tax planning. And right

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Speaker 2: now we're in tax season, so remember we do tax preparation.

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Speaker 2: Give us a call it eight three to three, Maggie tax.

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Speaker 2: We take drop offs in our office in Saint Pete,

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Speaker 2: our new office in Oldsmar, and our office in Loots, Florida.

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Speaker 2: So one of the things that you should be doing

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Speaker 2: and you can be doing when you get your taxes done,

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Speaker 2: is have the preparer or your CPA do an income

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Speaker 2: plan for you and a tax plan because what Chris

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Speaker 2: mentioned before about you know, paychecks and play checks because

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Speaker 2: one other thing. If you spend too much money, then

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Speaker 2: you're not going to have enough to live on. So

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Speaker 2: these are things that are critical. These are the things

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Speaker 2: that we do and we focus on. But you must

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Speaker 2: have multiple income streams working together. And if no one

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Speaker 2: has sat down with you and explained that to you,

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Speaker 2: we're giving you an opportunity. Give us a call eight

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Speaker 2: three to three. Maggie tax because a proper retirement income

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Speaker 2: plan it blends with social Security, with your pension portfolio, withdrawals,

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Speaker 2: wroth income dividends, and guaranteed income sources into one coordinated strategy.

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Speaker 2: So the goal is simple, stable income every month, regardless

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Speaker 2: of what the market is doing.

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Speaker 4: So let's just it. You know, when you start thinking

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Speaker 4: about paychecks and playchecks and retirement income planning and income

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Speaker 4: planning during retirement, you must have multiple income streams working together.

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Speaker 4: And there's no rule that says you can't have a

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Speaker 4: number of paychecks coming in each and every month. And

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Speaker 4: think of it this way. You have your Social Security, possibly,

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Speaker 4: you have your pension, but what if you can create

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Speaker 4: your own family pension or pensions where you never outlive

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Speaker 4: your money and there's just more income coming in the

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Speaker 4: front door each and every month. So that's what we're

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Speaker 4: talking about today. But also inflation. What about inflation? Taxes

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Speaker 4: and longevity require income that grows over time, So your

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Speaker 4: expenses will rise, taxes may rise, healthcare will rise, the

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Speaker 4: cost of living will rise. And that's why a retirement

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Speaker 4: income plaint cannot be flat. It must be built to adjust,

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Speaker 4: to adapt, and to grow. So your lifestyle never shrinks,

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Speaker 4: So pick up the phone and schedule a time to

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Speaker 4: meet with us. Eight three three Maggie Tax. You know

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Speaker 4: when you visit our website, Maggi tax dot com, there's

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Speaker 4: so much information right there. But what would you advise

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Speaker 4: people thinking out there today at home, driving whatever it is.

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Speaker 4: Retirement's on their mind. So what's the easiest way for

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Speaker 4: them to get a clear picture on what that retirement

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Speaker 4: income can look like during retirement.

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Speaker 2: Well, there's a lot of things that are basically included.

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Speaker 2: But what plan that you need to help understand? And

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Speaker 2: I'll tell you what we're asking. Do you have an

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Speaker 2: income plan? Do you have a tax plan? Do you

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Speaker 2: have an insurance plan? We talk about ensuring your IRA

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Speaker 2: so that you don't have to pay a large tax

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Speaker 2: when you take the money out. What about investment planning?

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Speaker 2: How many of you are looking at it from an

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Speaker 2: investment side where you redoce the risk so you have

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Speaker 2: more for yourself. And this is the big one, the

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Speaker 2: roth IRA planning. Today you can convert to a WROTH

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Speaker 2: have tax free money. And the question I ask all

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Speaker 2: of you is what bucket do you have that's tax free?

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Speaker 3: What about estate planning?

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Speaker 2: People are short on wills and trust and you know

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Speaker 2: and understanding the retirement and that the estate planning when

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Speaker 2: something happens to you. What about social security planning? This

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Speaker 2: is a big one. People will confused Chris out there

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Speaker 2: that you know, when do I take social security?

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Speaker 3: Do I take it too soon?

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Speaker 2: You know, we talk about this on every show and

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Speaker 2: it's a concern because what we talked about before, in

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Speaker 2: income planning, social security, pension, everything is included. So this

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Speaker 2: is what they need to be thinking about, Chris. It's

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Speaker 2: not just one size fits all.

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Speaker 3: That's it.

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Speaker 4: So build a paycheck that lasts as long as you do.

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Speaker 4: And how do you do that? It's simply you think

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Speaker 4: up the phone, schedule time to meet with us. Eight

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Speaker 4: three three, Maggie Tax, Come and visit us. We have

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Speaker 4: obvis on both sides of the bay. We have an

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Speaker 4: office in Oldsmar, a brand new office right there Loots

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Speaker 4: and also in Saint Pete. So pick up the phone,

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Speaker 4: schedule and appointment now eight three three, Maggie Tax. And

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Speaker 4: when you come in and meet with us, we're going

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Speaker 4: to sit down and have a conversation with you and

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Speaker 4: we're going to talk about budget planning. We're going to

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Speaker 4: talk about income planning. We're going to talk about you know,

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Speaker 4: what do you need each and every month to cover

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Speaker 4: your expenses. Then we'll also adjust for inflation, and we

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Speaker 4: talked about the different rising costs in the future. What

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Speaker 4: do those look like. Well, when you put together retirement

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Speaker 4: plan and you create your own buckets with investments, you

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Speaker 4: can have income streams coming to you forever and ever

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Speaker 4: and ever. And that's why we're talking about paychecks as well.

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Speaker 4: Which want to get to you later on in the show,

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Speaker 4: but pick up the phone schedule time to meet with us.

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Speaker 4: On our website Maggie tax dot com. There's a button

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Speaker 4: right there called the Retirement Tax Bill and this is

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Speaker 4: one of the things that you can do to discover

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Speaker 4: how much tax you're going to pay in retirement, which

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Speaker 4: is going to affect your what income income during retirement.

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Speaker 4: So get a plan now. We call it the Maggie

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Speaker 4: pl it's income planning, tax planning, investment planning, social security planning,

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Speaker 4: Medicare planning. That's what we do to help you.

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Speaker 2: You also talked about the most important thing education. We

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Speaker 2: are part of a five oh one C three speakers bureau.

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Speaker 2: We do four seminars a month in different locations around

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Speaker 2: Penelos and Hillsboro. Why, because we want to educate you

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Speaker 2: and we do these libraries. You can see it on

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Speaker 2: our website. You can register for those. They're about forty

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Speaker 2: five minutes to an hour. But we talk about taxes,

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Speaker 2: we talk about retirement planning, we talk about a state planning.

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Speaker 2: We get so many questions out there about do I

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Speaker 2: need a will, do I need a power of attorney?

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Speaker 2: Do I need a trust? This is all part of retirement, Chris,

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Speaker 2: and this is where many people that come in and

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Speaker 2: see us then missing these pieces of the puzzle. And

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Speaker 2: when we sit down with you and we ask you

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Speaker 2: these questions, the question we get, well, yeah, I've been

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Speaker 2: thinking about it, but I just haven't done it. Look,

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Speaker 2: procrastination is not a retirement plan.

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Speaker 3: Would you agree with that? Absolutely?

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Speaker 4: So people have excuses all day and the end of

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Speaker 4: the day, this is your money, your future. Don't have

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Speaker 4: the excuse. If you don't have a written income plan,

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Speaker 4: then you do not have a retirement plan. It's period.

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Speaker 4: That's it. It's simple as that. And the worst time

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Speaker 4: to discover that is after you retire. That's when you

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Speaker 4: get crushed and people just fall victim to running out

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Speaker 4: of money. So right now, before life throws you curveballs,

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Speaker 4: before the market shifts again, before another year passes without

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Speaker 4: a plan. This is the moment, This is the moment,

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Speaker 4: right now to take action. Pick up the phone, schedule

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Speaker 4: time to meet with us. Call mag Attacks and Wealth

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Speaker 4: Advisors right now. Let's schedule your complimentary retirement income blueprint.

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Speaker 4: This blueprint today will show you exactly how long your

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Speaker 4: money will last, where your income will come from, and

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Speaker 4: how to make sure that you never run out of

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Speaker 4: your paychecks and also have playchecks. So don't guess, don't worry,

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Speaker 4: don't hope. Pick up the phone now, call us and

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Speaker 4: get the confidence that you deserve.

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Speaker 2: Eight three to three Magi Tax.

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Speaker 4: That's eight three three Magie 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 free retirement, call eight three three

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Speaker 1: Maggie Tax or visit Maggie Tax dot com. Now your

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

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Speaker 1: Welcome back.

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Speaker 4: To the Maggie Tax and Financial Show. I'm Chris Maggan.

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Speaker 4: I'm here with my dad and coast of the show,

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Speaker 4: Robert Maggie. And in this segment, we're stepping beyond investments,

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Speaker 4: beyond taxes, beyond the number that's on the page. We're

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Speaker 4: talking about wealth planning. That's the coordination of everything that

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Speaker 4: matters in your financial life. And let me tell you

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Speaker 4: something most people have never heard or they never hear,

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Speaker 4: is that you can have great investments and still have

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Speaker 4: a terrible plan. You can have a strong nest egg

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Speaker 4: and still have a massive blind spot that's there for you.

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Speaker 4: You can be smart with money and still make mistakes

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Speaker 4: that cost your family tens or hundreds of thousands of dollars.

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Speaker 4: So that's why wealth planning is not about how much

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Speaker 4: money you have. It's about whether everything you have is

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Speaker 4: working together in harmony not friction. And how important is

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Speaker 4: that statement It is?

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Speaker 3: It's very important.

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Speaker 2: And when you mention those things that you could be smarter,

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Speaker 2: you could be strong, and you can have great investments,

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Speaker 2: but sometimes something happens that doesn't make it so good anymore.

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Speaker 2: So wealth must be coordinated, not scattered, and I think

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Speaker 2: what we see every day when people come in Chris

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Speaker 2: is they have piles of investments and don't know what

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Speaker 2: to do with it until we sit down and put

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Speaker 2: a plan together. So most people have their financial life

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Speaker 2: spread out across different places, different investments at one firm,

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Speaker 2: a tax preparer somewhere else, a state, documents in a drawer,

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Speaker 2: beneficiaries they haven't even checked in with years, They've never

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Speaker 2: seen them or heard from them. So when nothing talks

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Speaker 2: to each other, you get costly mistakes. That's what we're

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Speaker 2: talking about. So wealth planning is about bringing everything together

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Speaker 2: into one unified strategy so your money works efficiently and powerfully.

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Speaker 2: We call it the Maggie Plan. Simple and easy to understand.

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Speaker 2: And I know that sounds kind of like rough a

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Speaker 2: little bit. But if you sit down and what we

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Speaker 2: just talked about, put the pieces together one by one,

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Speaker 2: things start to make sense. Christ And you could see

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Speaker 2: it from the top down and say, well, you know what,

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Speaker 2: I guess my state planning isn't that good. Maybe my

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Speaker 2: income plan is not that good what I thought it was.

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Speaker 2: You know, I'm taking money out of accounts that I

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Speaker 2: shouldn't be taking it out of So when you sit

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Speaker 2: down and take the time and like we do with

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Speaker 2: our clients and everyone out there, when you make an appointment,

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Speaker 2: then you start to see it and that's when you

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Speaker 2: create your plan.

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Speaker 4: Well I just said, and you know we hear time

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Speaker 4: and time again we hear people talk in you know,

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Speaker 4: friends you might have and they say, well, we have

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Speaker 4: great investments. But again they don't have they can have

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Speaker 4: a terrible plan. So coordination is so important and that's

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Speaker 4: why being scattered is not a plan. So you want

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Speaker 4: to meet with us, schedule time. Let's put everything together

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Speaker 4: for you. Let's make it simple, and that's one of

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Speaker 4: the things we do. We put together a balance sheet

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Speaker 4: shows your qualified accounts, your non qualified accounts, your tax rebuckets,

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Speaker 4: your taxable buckets, your income all on one page, so

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Speaker 4: you see what you have. And that's called wealth planning.

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Speaker 4: So you know, one of the things with wealth planning

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Speaker 4: comes the hidden blind spots that what hurt families the most,

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Speaker 4: and they just really don't plan for it. It's not

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Speaker 4: the big market swings that usually cause the most financial damage.

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Speaker 4: It's the small overlook details such as what wrong beneficiaries,

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Speaker 4: outdated estate documents, inefficient account titles tax decisions that I

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Speaker 4: made without considering investments at a client, new client that

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Speaker 4: came in the other day and he was telling me

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Speaker 4: how before the end of the year he just converted

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Speaker 4: some money and I was like, how much did you convert?

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Speaker 4: He said, two hundred and thirty thousand. I said that

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Speaker 4: you look at the tax serification before you converted, and

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Speaker 4: he said, I had no idea what they're going to be.

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Speaker 4: I'm guess I'm surprised. Well, I said, did you plan

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Speaker 4: I'm putting money away? And he said I just didn't know.

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Speaker 4: And that's why he was he meant with us, because

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Speaker 4: he had no plan. He said, I hear you guys

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Speaker 4: all the time. You know, you guys talk about tax planning,

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Speaker 4: investment planning, insurance planning. I need a plan. I want

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Speaker 4: the big picture. And he said he messed up last

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Speaker 4: year and he doesn't want to make that mistake again.

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Speaker 4: And that's what we're discussing here, because these are the

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Speaker 4: blind spots that hurt families the most. So true wealth

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Speaker 4: planning eliminates those blind spots and protects the families from

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Speaker 4: preventable mistakes. And that's why I can't stress enough. It's

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Speaker 4: so important to me with us. You know, schedule time

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Speaker 4: to come on in a three three Maggie Tax, Get

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Speaker 4: the Maggie Plan. It's income planning, tax planning, investment planning,

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Speaker 4: and stay planning. These are things we talk about each

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Speaker 4: and every day.

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Speaker 2: And here's what you all can do. If you go

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Speaker 2: to our website, Maggie Tax dot com. Well, Chris is

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Speaker 2: talking about when you have an IRA or four owin

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Speaker 2: K and you think you convert, it will take money

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Speaker 2: out and you need to know what your tax bill is.

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Speaker 3: I remember you pay IRS first.

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Speaker 2: So if you go to maggietax dot com and on

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Speaker 2: the top you'll see the tax retirement bill.

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Speaker 3: Put in your amount.

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Speaker 2: I have clients come in there and they put, you know,

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Speaker 2: fictitious amounts because they just want to see if it's real.

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Speaker 3: And it is.

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Speaker 2: So if you put in three hundred thousand or a

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Speaker 2: million dollars, it's going to show you what your tax

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Speaker 2: bill is going to be at what age.

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Speaker 3: And Chris, here's the big, big catch.

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Speaker 2: A lot of people don't realize they have to take

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Speaker 2: the R and D out at what.

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Speaker 4: Age, Well, seventy three and then some people at seventy five,

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Speaker 4: and they don't know, yeah, it used.

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Speaker 2: To be seventy and a half. So when you look

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Speaker 2: at this retirement tax bill, it's going to show you

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Speaker 2: that when you start taking money out, what it's going

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Speaker 2: to cost you in taxes. And here's the next part.

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Speaker 2: It's going to create an urma tax on your Social

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Speaker 2: Security and your part B. People don't know what that is.

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Speaker 2: So when we do tax planning and we sit down

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Speaker 2: and sit there with you on this tax retirement bill,

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Speaker 2: all of a sudden, Chris, the light's go on. And

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Speaker 2: you've seen it many times. We see this every day

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Speaker 2: and the question comes out now is what do I do?

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Speaker 2: How do I fix the problem? Well, that's what we're

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Speaker 2: talking about. Don't make these mistakes. You don't have to.

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Speaker 4: That's exactly right. So you got these blind spots. And

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Speaker 4: then wealth planning is about more than money. It's about

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Speaker 4: direction and purpose. You know, anyone can own investments. Wealth

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Speaker 4: planning gives those investments intent, It aligns with taxes, income, risk, growth,

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Speaker 4: and also legacy into one plan that is proactive instead

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Speaker 4: of reactive. And that's why we call it the Maggi Plan.

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Speaker 4: Every account on the investment side you have has has

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Speaker 4: a direction, has a purpose. So your wealth isn't just preserved,

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Speaker 4: but optimized for your life and also for your family's futures.

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Speaker 4: So pick up the phone, schedule time to meet with us.

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Speaker 4: If you have investments, you want a second opinion, we

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Speaker 4: can help you know. Right now is the time to

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Speaker 4: do it. If your financial life feels scattered, if your

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Speaker 4: accounts live everywhere, if you have piles of money, if

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Speaker 4: you're working with a tax person here, an investment person there,

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Speaker 4: and an insurance person somewhere else, you do not have

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Speaker 4: a coordinated wealth plan. You have puzzle pieces in different drawers.

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Speaker 4: That's what we're talking about here. If that is you

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Speaker 4: call Maggie Tax and Wealth Advisor right now A three

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Speaker 4: three Maggie Tax. Get your complete wealth coordination review today.

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Speaker 4: We will show you exactly where the gaps are and

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Speaker 4: how to fix them before they become real problems. Your

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Speaker 4: wealth deserves clarity, protection and purpose. So pick up the

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Speaker 4: phone now A three three Maggie Tax, Magi Tax dot Com,

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Speaker 4: visit our website eight three three 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 free retirement, call eight three three

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Speaker 1: Maggie Tax or visit Maggie Tax dot com. Now your

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

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Speaker 4: Welcome back to The Maggie Tax and Financial Show, and

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Speaker 4: as always, we are glad to be here and we

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Speaker 4: think thank you so much for tuning in. And for

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Speaker 4: the beginning of the show, we've been talking about income

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Speaker 4: planning during retirement. How important is to build a paycheck

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Speaker 4: that lasts as long as you live. We also talked

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Speaker 4: about wealth planning and it's so important to coordinate your investments,

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Speaker 4: your taxes, your income and legacy so everything works together.

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Speaker 4: So welcome back to the Maggie Tax and Financial Show.

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Speaker 4: And as always I'm here with my dad and coast

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Speaker 4: of the show, Robert Maggian. Each and every day we're

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Speaker 4: talking about tax planning, incomplanning, legacy planning, investment planning, a

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Speaker 4: state planning, and we do complete planning. So this segment

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Speaker 4: we're going to talk about paychecks and play checks. Yeah,

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Speaker 4: set of the playcheck, what's a playcheck. Well, I'm going

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Speaker 4: to dive into that because it's so great to have

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Speaker 4: paychecks come in. But also those play checks are so

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Speaker 4: much fun to have, especially in retirement. So all right,

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00:20:47,680 --> 00:20:50,760
Speaker 4: let's dive into the most important and frankly most understood

434
00:20:50,880 --> 00:20:54,119
Speaker 4: concepts in retirement. Got dive in here, right here, dad,

435
00:20:54,600 --> 00:20:56,000
Speaker 4: playchecks and paycheck? Sure?

436
00:20:56,119 --> 00:20:56,439
Speaker 3: Why not.

437
00:20:56,560 --> 00:20:59,480
Speaker 2: By the way, don't forget visit our website, Maggie tax

438
00:20:59,520 --> 00:21:02,640
Speaker 2: dot com. And every Sunday at ten thirty tune into

439
00:21:02,680 --> 00:21:05,480
Speaker 2: the Maggie Tax and Financial Show on ABC TV. And

440
00:21:05,560 --> 00:21:07,960
Speaker 2: right after at eleven o'clock, we have our show on

441
00:21:08,000 --> 00:21:10,680
Speaker 2: the radio on WFLA. So a lot of good information

442
00:21:10,760 --> 00:21:13,120
Speaker 2: that we have going out here and today, of course,

443
00:21:13,160 --> 00:21:17,200
Speaker 2: is what Chris is talking about paychecks and playchecks, because

444
00:21:17,240 --> 00:21:21,320
Speaker 2: here's the truth. Retirement is not just about paying bills

445
00:21:21,560 --> 00:21:25,399
Speaker 2: many people think it is. Retirement is about living and

446
00:21:25,440 --> 00:21:27,760
Speaker 2: living your life the way you should, where you're happy

447
00:21:27,760 --> 00:21:29,639
Speaker 2: and you're having fun, and then of course you have

448
00:21:29,720 --> 00:21:31,720
Speaker 2: to work. But then that's when you start worrying about

449
00:21:31,720 --> 00:21:35,600
Speaker 2: paying the bills. And yet so many retirees are just terrified,

450
00:21:35,960 --> 00:21:39,520
Speaker 2: I mean terrified to spend money. They worry about markets

451
00:21:39,680 --> 00:21:43,640
Speaker 2: they worry about taxes, inflation, outliving their savings, so they

452
00:21:43,640 --> 00:21:47,000
Speaker 2: live smaller than they need to because they're afraid.

453
00:21:47,440 --> 00:21:48,800
Speaker 3: But when you separate your.

454
00:21:48,640 --> 00:21:53,520
Speaker 2: Retirement into two buckets, the paycheck bucket for essential expenses

455
00:21:53,880 --> 00:21:57,439
Speaker 2: and the playcheck bucket for fun, for travel, for family,

456
00:21:57,480 --> 00:22:00,840
Speaker 2: for hobbies, everything else changes so retirement it stops being

457
00:22:00,920 --> 00:22:04,760
Speaker 2: stressful and becomes more enjoyable again. And Chris, I don't

458
00:22:04,760 --> 00:22:08,040
Speaker 2: know how many advisors not talking about paychecks and playchecks.

459
00:22:08,080 --> 00:22:09,080
Speaker 3: Why what's wrong?

460
00:22:09,119 --> 00:22:11,680
Speaker 4: I'll tell you pretty simple. Not every advisor is the same.

461
00:22:11,920 --> 00:22:14,480
Speaker 4: There's many advisors out there that call themselves advisors, but

462
00:22:14,880 --> 00:22:18,000
Speaker 4: pretty much they could be just typically a transactional advisor,

463
00:22:18,040 --> 00:22:20,080
Speaker 4: which means they just sell a product or a thing

464
00:22:20,160 --> 00:22:23,320
Speaker 4: or whatever they do one thing, but a magiitax advisor

465
00:22:23,359 --> 00:22:26,639
Speaker 4: and wealth advisors. What we're focusing on is complete planning.

466
00:22:27,040 --> 00:22:29,840
Speaker 4: And the paycheck bucket is so important because that's just

467
00:22:29,960 --> 00:22:32,760
Speaker 4: one of the ability things that we can do to

468
00:22:32,840 --> 00:22:36,920
Speaker 4: help you so well. The paycheck bucket covers essential expenses

469
00:22:37,000 --> 00:22:41,600
Speaker 4: with absolute certainty, so your paycheck and is the income

470
00:22:41,640 --> 00:22:44,840
Speaker 4: that must hit your bank account every month to cover

471
00:22:45,000 --> 00:22:50,280
Speaker 4: the non negotiable such as what housing, food, utilities, healthcare, insurance. Right,

472
00:22:50,680 --> 00:22:55,400
Speaker 4: this bucket must be reliable, predictable, and insulated from market volatility.

473
00:22:55,800 --> 00:22:59,720
Speaker 4: So when your essential expenses are guaranteed, guess what. Fear

474
00:23:00,040 --> 00:23:04,040
Speaker 4: disappears and then confidence begins. And that's when we put

475
00:23:04,040 --> 00:23:07,600
Speaker 4: together retirement plans called income plans for our clients. That's

476
00:23:07,600 --> 00:23:11,159
Speaker 4: what we're talking about. Fear disappears and confidence begins, and.

477
00:23:11,160 --> 00:23:12,000
Speaker 3: That's what we're talking about.

478
00:23:12,040 --> 00:23:15,840
Speaker 2: The Maggie Plan simple and easy to understand from complete planning.

479
00:23:16,160 --> 00:23:18,199
Speaker 2: And this is part of the complete planning that we

480
00:23:18,280 --> 00:23:20,840
Speaker 2: all need to talk about. So the playcheck bucket that

481
00:23:20,920 --> 00:23:24,000
Speaker 2: Chris is talking about, it's the money that makes retirement

482
00:23:24,119 --> 00:23:28,800
Speaker 2: fun fun, I mean laughing and playing fun. So your

483
00:23:28,840 --> 00:23:33,880
Speaker 2: playcheck is everything above the essentials, travel, hobbies, dinners, dinner's out,

484
00:23:33,960 --> 00:23:36,840
Speaker 2: spoiling grandkids. I have to and spoil the heck out

485
00:23:36,880 --> 00:23:40,320
Speaker 2: of them. Upgrades, bucket fist, bucket list experiences.

486
00:23:40,320 --> 00:23:41,000
Speaker 3: What does that mean?

487
00:23:41,480 --> 00:23:43,080
Speaker 2: You have to have a bucket list of what you

488
00:23:43,119 --> 00:23:44,800
Speaker 2: want to do, what do you want to accomplish, and

489
00:23:44,800 --> 00:23:46,640
Speaker 2: where you want to go. A lot of people don't

490
00:23:46,680 --> 00:23:48,560
Speaker 2: have that and that's something that you should put together.

491
00:23:48,880 --> 00:23:51,480
Speaker 2: And this is the money that creates memories and joy.

492
00:23:51,880 --> 00:23:56,480
Speaker 2: When this bucket is planned separately, retirees feel permission to

493
00:23:56,720 --> 00:24:00,680
Speaker 2: enjoy their money without guilt or anxiety. And Chris, that's

494
00:24:00,680 --> 00:24:03,080
Speaker 2: the problem today, the anxiety and the stress that most

495
00:24:03,080 --> 00:24:05,719
Speaker 2: people have because this is something that they don't have.

496
00:24:05,760 --> 00:24:07,560
Speaker 2: And when we talk to our clients, when they come

497
00:24:07,600 --> 00:24:09,800
Speaker 2: in and we bring that up, all of a sudden,

498
00:24:09,840 --> 00:24:12,159
Speaker 2: the mood changes and it kind of relaxes and they go,

499
00:24:12,560 --> 00:24:14,240
Speaker 2: gee whiz, I never thought about it that way.

500
00:24:14,320 --> 00:24:15,280
Speaker 3: So let's continue.

501
00:24:15,520 --> 00:24:18,199
Speaker 4: Well, let's just say, you know, there's accumulation phase and

502
00:24:18,200 --> 00:24:21,359
Speaker 4: there's the distribution phase. So let me ask you, do

503
00:24:21,400 --> 00:24:24,040
Speaker 4: you have an income plan? Do you have an income plan?

504
00:24:24,119 --> 00:24:26,160
Speaker 4: Do you really know what that means? Well, if you don't,

505
00:24:26,200 --> 00:24:28,119
Speaker 4: then you don't have one because I'll tell you what.

506
00:24:28,240 --> 00:24:31,199
Speaker 4: When you start thinking about buckets with a purpose, and

507
00:24:31,280 --> 00:24:34,919
Speaker 4: you can put together a paycheck bucket to cover all

508
00:24:34,920 --> 00:24:37,840
Speaker 4: the essentials, and then you can put together a play

509
00:24:38,000 --> 00:24:40,760
Speaker 4: check bucket which covers the fun as my dad mentioned,

510
00:24:40,960 --> 00:24:42,600
Speaker 4: the fun time. When you just spend the heck out

511
00:24:42,640 --> 00:24:43,879
Speaker 4: of it each and every month and do it all

512
00:24:43,920 --> 00:24:45,480
Speaker 4: over again for the rest of your life. It comes

513
00:24:45,520 --> 00:24:48,399
Speaker 4: really really a great opportunity. So the power of separation

514
00:24:49,000 --> 00:24:52,160
Speaker 4: is when you split the two, the retirement becomes so peaceful.

515
00:24:52,440 --> 00:24:53,720
Speaker 4: And that's why it's so important to pick up the

516
00:24:53,720 --> 00:24:55,320
Speaker 4: phone and schedule time to meet with us, because we

517
00:24:55,320 --> 00:24:58,359
Speaker 4: can put together your income plan. It's a three to

518
00:24:58,359 --> 00:25:01,160
Speaker 4: three Maggie Tax. Visit our website Maggie tax dot com.

519
00:25:01,160 --> 00:25:03,760
Speaker 4: There's so much information right there at your fingertips. But

520
00:25:04,200 --> 00:25:07,240
Speaker 4: when we talk about income planning, we want it to

521
00:25:07,240 --> 00:25:10,639
Speaker 4: be peaceful. So most retirees pull from one big pile

522
00:25:10,680 --> 00:25:14,000
Speaker 4: of money, which creates uncertainty and fear. Give an example

523
00:25:14,000 --> 00:25:16,040
Speaker 4: at a client that came in last week that's five

524
00:25:16,080 --> 00:25:19,399
Speaker 4: hundred thousand dollars in the retirement assets and they say, well,

525
00:25:19,400 --> 00:25:21,920
Speaker 4: I'm just going to pull about one thousand dollars a month,

526
00:25:22,520 --> 00:25:24,840
Speaker 4: and that's what they did. And I asked them, well,

527
00:25:24,880 --> 00:25:27,480
Speaker 4: what's your plan and there was silence and they don't

528
00:25:27,480 --> 00:25:29,479
Speaker 4: have one. And I said, well, how much risk you're

529
00:25:29,480 --> 00:25:32,800
Speaker 4: taking with your money? Well, I think it's balanced. Wasn't sure.

530
00:25:33,200 --> 00:25:35,080
Speaker 4: So then I said, what if the market does go

531
00:25:35,119 --> 00:25:37,600
Speaker 4: down thirty forty percent, what do you do? How does

532
00:25:37,600 --> 00:25:40,440
Speaker 4: that affect your income? And they said, well, my advisor

533
00:25:40,520 --> 00:25:42,840
Speaker 4: says that I'm never going to outlive my money. But

534
00:25:43,280 --> 00:25:46,439
Speaker 4: what happens if the account does go down by thirty percent?

535
00:25:46,520 --> 00:25:49,879
Speaker 4: Thirty percent on five hundred thousand, it's about one hundred

536
00:25:49,880 --> 00:25:52,080
Speaker 4: and fifty thousand dollars, So now you're taking income off

537
00:25:52,080 --> 00:25:55,679
Speaker 4: of three point fifty as opposed to five hundred. So

538
00:25:55,720 --> 00:25:58,640
Speaker 4: what happens. Many people just freeze and they stop. That's

539
00:25:58,680 --> 00:26:00,760
Speaker 4: why they don't have an income plan. So you know,

540
00:26:00,960 --> 00:26:04,600
Speaker 4: as most retirees pull from one big pile of money,

541
00:26:04,720 --> 00:26:06,679
Speaker 4: it creates uncertainty in fear. But you don't have to.

542
00:26:07,119 --> 00:26:11,360
Speaker 4: But when you deliberately separate essential income from discretionary income,

543
00:26:12,040 --> 00:26:15,359
Speaker 4: everything changes. You know, the bills are covered, you know

544
00:26:15,480 --> 00:26:18,400
Speaker 4: the fun money is safe. You know exactly how much

545
00:26:18,440 --> 00:26:22,840
Speaker 4: you can spend without ever risking your lifestyle. How cool

546
00:26:22,920 --> 00:26:24,840
Speaker 4: is it to wake up every morning on the first

547
00:26:24,840 --> 00:26:28,280
Speaker 4: of the month and know exactly what your lifestyle can

548
00:26:28,320 --> 00:26:30,960
Speaker 4: be and do whatever you want without no restrictions. The

549
00:26:31,000 --> 00:26:36,120
Speaker 4: simple division transforms retirement from stressful to strategic and from

550
00:26:36,160 --> 00:26:38,919
Speaker 4: cautious to confident. And that's what we do here at

551
00:26:38,920 --> 00:26:42,119
Speaker 4: MAGI Tax Advisory and Wealth Advisors. We put together the

552
00:26:42,160 --> 00:26:44,720
Speaker 4: clarity the confidence so you can have an income plan

553
00:26:45,080 --> 00:26:47,399
Speaker 4: for your retirement. We put together the clarity and the

554
00:26:47,400 --> 00:26:49,200
Speaker 4: confidence so you can have a complete plan. So pick

555
00:26:49,240 --> 00:26:51,440
Speaker 4: up the phone, schedule time to meet with us. Eight

556
00:26:51,520 --> 00:26:53,800
Speaker 4: three to three magi tax. That's eight three to three

557
00:26:53,960 --> 00:26:54,600
Speaker 4: magi tax.

558
00:26:54,800 --> 00:26:56,720
Speaker 2: And one thing I'll say. We say this every week.

559
00:26:56,760 --> 00:26:59,520
Speaker 2: It's about education. We're part of a five oh one

560
00:26:59,560 --> 00:27:02,320
Speaker 2: C three speakers bureau. Why do I tell you that?

561
00:27:02,640 --> 00:27:05,600
Speaker 2: Because we do seminars, four seminars a month. We do

562
00:27:05,680 --> 00:27:08,040
Speaker 2: them at libraries, and yesterday we had a seminar. We

563
00:27:08,080 --> 00:27:10,680
Speaker 2: had about sixty people there. We talked about a state

564
00:27:10,720 --> 00:27:12,720
Speaker 2: planning and then we talked about you know what we

565
00:27:12,760 --> 00:27:16,200
Speaker 2: do our plan, what the Maggie Plan is about income planning.

566
00:27:16,240 --> 00:27:18,840
Speaker 2: That Chris and I are talking about about tax planning.

567
00:27:18,840 --> 00:27:21,760
Speaker 2: And when I mentioned about tax planning Chris, it was

568
00:27:21,800 --> 00:27:25,000
Speaker 2: like a wow. Everybody was stunned. Like no one that

569
00:27:25,080 --> 00:27:26,920
Speaker 2: we go to talks about taxes.

570
00:27:27,160 --> 00:27:27,800
Speaker 3: Well we do.

571
00:27:28,000 --> 00:27:29,720
Speaker 2: You know one of the things that we're talking about,

572
00:27:29,880 --> 00:27:31,960
Speaker 2: and we have to talk about every client that walks

573
00:27:31,960 --> 00:27:34,600
Speaker 2: in and I'll let you finish this about taxes because

574
00:27:35,200 --> 00:27:36,720
Speaker 2: people aren't talking about taxes.

575
00:27:36,720 --> 00:27:39,400
Speaker 3: Your advisors talking about growth. Well that's good.

576
00:27:39,480 --> 00:27:42,360
Speaker 2: Like Chris mentioned before, they had five hundred thousand, big deal.

577
00:27:42,400 --> 00:27:44,920
Speaker 2: But what if the money runs out? Are you prepared

578
00:27:45,000 --> 00:27:47,280
Speaker 2: to have you know that change, because it's going to

579
00:27:47,320 --> 00:27:49,760
Speaker 2: be drastical when it changes. And the other thing, if

580
00:27:49,800 --> 00:27:53,720
Speaker 2: you have the retirement set up the right way, you're

581
00:27:53,720 --> 00:27:55,000
Speaker 2: not gonna have to worry about that if you have

582
00:27:55,040 --> 00:27:55,879
Speaker 2: guaranteed income.

583
00:27:56,080 --> 00:27:58,480
Speaker 4: I mentioned the word before. It's called strategic And how

584
00:27:58,480 --> 00:28:02,120
Speaker 4: many plans do we put together? That strategic And when

585
00:28:02,160 --> 00:28:05,160
Speaker 4: people come in, they say, you know exactly what you're

586
00:28:05,160 --> 00:28:07,800
Speaker 4: talking about now, I wish I had that plan years ago.

587
00:28:08,240 --> 00:28:10,560
Speaker 4: So that's the point. If you're about to retire retired,

588
00:28:11,160 --> 00:28:13,000
Speaker 4: now's the time. Pick up the phone, schedule time to

589
00:28:13,040 --> 00:28:16,200
Speaker 4: meet with us, because we can put together your income plan.

590
00:28:16,560 --> 00:28:19,359
Speaker 4: Do you want paychecks, Well, that's fine, just pays the bills.

591
00:28:19,640 --> 00:28:21,840
Speaker 4: But do you want play checks where you can live

592
00:28:21,880 --> 00:28:24,600
Speaker 4: the lifestyle that you want to live or have both.

593
00:28:24,960 --> 00:28:26,760
Speaker 4: That's what we're talking about here. So pick up the phone,

594
00:28:26,800 --> 00:28:28,640
Speaker 4: schedule time to meet with us. Eight three to three

595
00:28:28,680 --> 00:28:32,760
Speaker 4: maggie tax. That's eight three three magi tax. So income

596
00:28:32,800 --> 00:28:36,159
Speaker 4: planning during retirement, how to build a paycheck that lasts

597
00:28:36,160 --> 00:28:40,960
Speaker 4: as long as you do wealth planning, coordinate your investments, taxes, income,

598
00:28:41,120 --> 00:28:45,160
Speaker 4: so you have and know that everything was working for

599
00:28:45,280 --> 00:28:48,160
Speaker 4: you and they all work together. And also paychecks and

600
00:28:48,160 --> 00:28:51,360
Speaker 4: play checks the system that helps retirees enjoy their money

601
00:28:51,680 --> 00:28:54,040
Speaker 4: without the fear of running it out. So pick up

602
00:28:54,040 --> 00:28:56,200
Speaker 4: the phone, schedule time to meet with us eight three

603
00:28:56,240 --> 00:28:57,520
Speaker 4: to three Maggie Tax.

604
00:28:57,600 --> 00:29:00,000
Speaker 2: And remember something we have the seminars. Go to world

605
00:29:00,000 --> 00:29:03,040
Speaker 2: website Maggie tax dot com. You can register any one

606
00:29:03,040 --> 00:29:05,160
Speaker 2: of those seminars and it would be educational and would

607
00:29:05,160 --> 00:29:07,720
Speaker 2: be helpful for you to do that. So we're offering help.

608
00:29:07,920 --> 00:29:10,640
Speaker 2: We're offering education. It's free. And then you can sit

609
00:29:10,680 --> 00:29:12,479
Speaker 2: down and make a decision. And I say this at

610
00:29:12,480 --> 00:29:15,800
Speaker 2: every seminar. You're an adult. I'm an adult. So adult

611
00:29:15,880 --> 00:29:19,040
Speaker 2: to adult, if you sit down and speak to someone

612
00:29:19,120 --> 00:29:21,280
Speaker 2: like we do and you get it, you're going to

613
00:29:21,320 --> 00:29:23,840
Speaker 2: make the right decision. Why would you not. It's just

614
00:29:23,880 --> 00:29:26,120
Speaker 2: because no one's ever told you about that. So a

615
00:29:26,280 --> 00:29:29,240
Speaker 2: three to three Maggie Tax. Visit our website Maggie tax

616
00:29:29,320 --> 00:29:32,200
Speaker 2: dot com. And if you don't know which dollars are

617
00:29:32,240 --> 00:29:36,440
Speaker 2: your paycheck dollars and which dollars are your playcheck dollars,

618
00:29:36,800 --> 00:29:40,080
Speaker 2: you're always going to feel uncertain And that's what I think.

619
00:29:40,120 --> 00:29:43,720
Speaker 2: People are confused and uncertain. So let's fix that today.

620
00:29:44,080 --> 00:29:46,640
Speaker 2: Give us a call, Maggie, Tax and Wealth Advisors, because

621
00:29:46,680 --> 00:29:50,320
Speaker 2: that's what we do. Request your paycheck and playcheck retirement

622
00:29:50,360 --> 00:29:54,520
Speaker 2: design and this simple framework can completely transform how you

623
00:29:54,600 --> 00:29:58,600
Speaker 2: feel about retirement. It brings clarity, which Chris talked about before.

624
00:29:58,640 --> 00:30:01,600
Speaker 2: It brings freedom, which many of you need and have

625
00:30:01,880 --> 00:30:04,680
Speaker 2: will want, And it brings joy back into spending your

626
00:30:04,720 --> 00:30:07,800
Speaker 2: own money. Remember something you worked all your life for it,

627
00:30:08,120 --> 00:30:10,400
Speaker 2: you worked hard to save. And here's the problem we

628
00:30:10,440 --> 00:30:13,200
Speaker 2: ask people this. You know, when do you want to retire? Well,

629
00:30:13,240 --> 00:30:15,280
Speaker 2: I want to retire. I want to have enough money.

630
00:30:15,480 --> 00:30:17,200
Speaker 2: Well maybe you have enough money, but you don't know

631
00:30:17,240 --> 00:30:20,000
Speaker 2: how to position your money into what we're talking about,

632
00:30:20,000 --> 00:30:23,920
Speaker 2: tax planning, income planning, and then the two buckets we're

633
00:30:23,920 --> 00:30:26,640
Speaker 2: talking about, you know, the paycheck and playcheck. And Chris,

634
00:30:26,640 --> 00:30:28,920
Speaker 2: that's the problem with a lot of people that we meet.

635
00:30:29,000 --> 00:30:32,200
Speaker 2: They just don't sit down and have that conversation.

636
00:30:31,840 --> 00:30:33,640
Speaker 4: Because they don't have a plan. And you know, the

637
00:30:33,720 --> 00:30:37,160
Speaker 4: plan used is so just so a word that is

638
00:30:37,200 --> 00:30:39,760
Speaker 4: easy to use, right, and many advisors say, well, don't

639
00:30:39,760 --> 00:30:41,280
Speaker 4: have a plan, Well, they're not giving you a plan,

640
00:30:41,320 --> 00:30:43,400
Speaker 4: They're just giving you a transaction. That's not what you want,

641
00:30:43,440 --> 00:30:45,480
Speaker 4: that's not what you deserve. You know, you're in the

642
00:30:45,520 --> 00:30:47,720
Speaker 4: distribution phase of your life, and that doesn't mean just

643
00:30:48,000 --> 00:30:50,680
Speaker 4: sit under a rock and not earn anything. Now, there's

644
00:30:50,720 --> 00:30:53,720
Speaker 4: different buckets of money that have growth potential, but why

645
00:30:53,760 --> 00:30:57,320
Speaker 4: not have the accumulation and also have the income and

646
00:30:57,360 --> 00:31:00,240
Speaker 4: the guarantees and the paychecks and the playchecks. So that's

647
00:31:00,240 --> 00:31:04,480
Speaker 4: why that simple framework can completely transform how you feel

648
00:31:04,720 --> 00:31:07,840
Speaker 4: about your retirement. It brings the clarity, it brings the freedom,

649
00:31:07,880 --> 00:31:10,320
Speaker 4: and it brings the joy back into spending your own

650
00:31:10,480 --> 00:31:13,040
Speaker 4: money you worked hard for it. Don't wait, don't guess,

651
00:31:13,160 --> 00:31:16,080
Speaker 4: call now and build a retirement that you can actually

652
00:31:16,160 --> 00:31:18,560
Speaker 4: enjoy a three to three Maggie tax. That's a three

653
00:31:18,600 --> 00:31:19,760
Speaker 4: to three Maggie tax.

654
00:31:23,360 --> 00:31:26,920
Speaker 1: Stop funding Uncle Sam's retirement and start planning for your

655
00:31:26,960 --> 00:31:30,440
Speaker 1: own successful retirement. As we return to The Maggie Tax

656
00:31:30,480 --> 00:31:33,840
Speaker 1: Financial Show with your host Robert and Chris Maggie with

657
00:31:34,000 --> 00:31:37,120
Speaker 1: Maggie Tax and Wealth Advisors. For information on how you

658
00:31:37,160 --> 00:31:40,760
Speaker 1: can create a tax free retirement, Call eight three three

659
00:31:41,160 --> 00:31:45,440
Speaker 1: Maggie Tax or visit Maggie Tax Dot com now your

660
00:31:45,480 --> 00:31:48,720
Speaker 1: host with Maggie Tax and Wealth Advisors, Robert and Chris.

661
00:31:48,760 --> 00:31:52,200
Speaker 4: Maggie, Welcome back to the Maggie Tax and Wealth Advisors Show.

662
00:31:52,240 --> 00:31:55,040
Speaker 4: I'm here my dad and coast of the show, Robert Maggie.

663
00:31:55,040 --> 00:31:57,360
Speaker 4: In Throughout today's show, we've been talking about income planning

664
00:31:57,440 --> 00:32:00,320
Speaker 4: during retirement, how to build a paycheck that last as

665
00:32:00,360 --> 00:32:03,360
Speaker 4: long as you live. We've also talked about wealth planning,

666
00:32:03,440 --> 00:32:06,240
Speaker 4: how to coordinate your investments, your taxes, your income, and

667
00:32:06,240 --> 00:32:10,120
Speaker 4: your legacy so everything works together. And also we talked

668
00:32:10,120 --> 00:32:13,080
Speaker 4: about in our third segment today paychecks and play checks,

669
00:32:13,640 --> 00:32:16,560
Speaker 4: the system that helps retirees enjoy their money without the

670
00:32:16,760 --> 00:32:19,600
Speaker 4: fear of running it out. That's the biggest thing most

671
00:32:19,600 --> 00:32:22,000
Speaker 4: retirees we work with. The biggest fear is am I

672
00:32:22,040 --> 00:32:23,960
Speaker 4: going to run out of my money? Well you don't

673
00:32:23,960 --> 00:32:26,160
Speaker 4: have to if you put together the right plan with

674
00:32:26,200 --> 00:32:28,440
Speaker 4: a strategic approach, and we could do that for you.

675
00:32:28,840 --> 00:32:31,720
Speaker 4: So right now, and finally we're going to talk about rothology.

676
00:32:31,840 --> 00:32:34,920
Speaker 4: What is Wrothology. Well, it's the process we've been we

677
00:32:35,080 --> 00:32:40,520
Speaker 4: perfected for converting taxable retirement money into tax free money

678
00:32:40,520 --> 00:32:43,280
Speaker 4: for life. So before my dad jumps into this visit,

679
00:32:43,320 --> 00:32:45,680
Speaker 4: our website at Maggie tax dot com. Click on the

680
00:32:45,760 --> 00:32:49,640
Speaker 4: right hand corner you'll see retirement tax bomb. Click on it.

681
00:32:49,640 --> 00:32:52,360
Speaker 4: It'll show you in thirty seconds what your retirement tax

682
00:32:52,400 --> 00:32:55,440
Speaker 4: bill will be. And leading into this segment that pick

683
00:32:55,480 --> 00:32:57,160
Speaker 4: up the phone, schedule time to meet with us eight

684
00:32:57,200 --> 00:32:59,920
Speaker 4: three to three Maggie Tax. But let's talk about rothology.

685
00:33:00,120 --> 00:33:02,400
Speaker 2: Sure a lot of people are asking us, how do

686
00:33:02,480 --> 00:33:04,560
Speaker 2: I convert to a wroth and is it the right time?

687
00:33:04,880 --> 00:33:05,600
Speaker 3: How much money?

688
00:33:05,640 --> 00:33:08,480
Speaker 2: So this is not a theory, This is not hype.

689
00:33:09,000 --> 00:33:11,680
Speaker 2: This is not something for the wealthy, and that's what

690
00:33:11,720 --> 00:33:14,240
Speaker 2: people think it is, and it's not. This is one

691
00:33:14,240 --> 00:33:18,800
Speaker 2: of the most powerful financial strategies available today and most

692
00:33:18,840 --> 00:33:21,760
Speaker 2: people will never take advantage of it. And when years

693
00:33:21,760 --> 00:33:24,200
Speaker 2: ago people came out and talked about the roth account,

694
00:33:24,480 --> 00:33:27,480
Speaker 2: no one listened. But here's the question I have for you.

695
00:33:28,440 --> 00:33:31,280
Speaker 2: Would you rather have taxable money or tax free money?

696
00:33:32,000 --> 00:33:32,840
Speaker 3: Why?

697
00:33:33,040 --> 00:33:35,680
Speaker 2: Because a lot of people they don't understand the tax

698
00:33:35,760 --> 00:33:39,320
Speaker 2: time bomb inside their IRA four one K four oh

699
00:33:39,360 --> 00:33:42,719
Speaker 2: three B, even if you're a federal employeed TSP. Because

700
00:33:42,760 --> 00:33:45,680
Speaker 2: no one explained how much the irs will take in

701
00:33:45,720 --> 00:33:49,080
Speaker 2: their seventies and eighties. Because they never had a real

702
00:33:49,120 --> 00:33:50,320
Speaker 2: wroth conversion plan.

703
00:33:50,680 --> 00:33:51,280
Speaker 3: We do that.

704
00:33:51,280 --> 00:33:53,959
Speaker 2: It's called rothology. So I challenge all of you. If

705
00:33:53,960 --> 00:33:56,600
Speaker 2: you have an IRA four one k, like Chris said,

706
00:33:56,600 --> 00:33:59,800
Speaker 2: go to the website maggietax dot com top right corner

707
00:34:00,240 --> 00:34:04,360
Speaker 2: on retirement tax bill. Put your numbers in thirty seconds.

708
00:34:04,400 --> 00:34:06,080
Speaker 2: It's going to show you and then you need to

709
00:34:06,080 --> 00:34:08,680
Speaker 2: sit down and talk to us. Rothology is how you

710
00:34:08,719 --> 00:34:13,279
Speaker 2: take control. It's how you shrink lifetime taxes. It's how

711
00:34:13,280 --> 00:34:16,480
Speaker 2: you pass on wealth tax free. It's how you stop

712
00:34:16,520 --> 00:34:19,719
Speaker 2: giving the irs more than they required. And this is

713
00:34:19,760 --> 00:34:23,919
Speaker 2: the difference between being tax reactive and tax strategic.

714
00:34:24,239 --> 00:34:27,160
Speaker 4: And that's what we talked about last segment, strategic income planning.

715
00:34:27,280 --> 00:34:31,360
Speaker 4: What about strategic tax planning? So your IRA is a

716
00:34:31,440 --> 00:34:34,279
Speaker 4: tax time bomb waiting to go off. Let me say

717
00:34:34,280 --> 00:34:36,960
Speaker 4: that again. You have an IRA four one k TSP

718
00:34:37,120 --> 00:34:40,880
Speaker 4: through savings plan. That account is infected with taxes and

719
00:34:41,000 --> 00:34:43,760
Speaker 4: is a tax time bomb waiting to go off. Most

720
00:34:43,800 --> 00:34:46,400
Speaker 4: retirees don't realize that their iras and their Form one

721
00:34:46,480 --> 00:34:50,719
Speaker 4: ks are not fully theirs. They're a joint account with

722
00:34:50,760 --> 00:34:54,360
Speaker 4: the IRS, and every dollar you would draw is taxable

723
00:34:54,760 --> 00:34:57,359
Speaker 4: and future tax rates may be higher and that's the thing.

724
00:34:57,840 --> 00:34:59,680
Speaker 4: We are in a lot of debt as a country.

725
00:35:00,040 --> 00:35:02,279
Speaker 4: Tax rates at some point, maybe not next year, maybe

726
00:35:02,280 --> 00:35:03,880
Speaker 4: not in four years from now, and maybe not in

727
00:35:03,920 --> 00:35:07,880
Speaker 4: seven years, but what about years eight, nine, ten, eleven, twelve, thirteen, fourteen.

728
00:35:07,920 --> 00:35:11,440
Speaker 4: Guess what Uncle Sam's coming and taxes are going to

729
00:35:11,480 --> 00:35:13,799
Speaker 4: be forced to be higher. And the worst case is

730
00:35:13,880 --> 00:35:17,000
Speaker 4: what about those requirement of distributions in your seventies. It

731
00:35:17,080 --> 00:35:19,920
Speaker 4: forces you to withdraw money whether you need to or not,

732
00:35:20,320 --> 00:35:23,040
Speaker 4: which often pushes yourself into higher brackets. What are you

733
00:35:23,160 --> 00:35:26,640
Speaker 4: doing about it? What is your income plan? What's your

734
00:35:26,680 --> 00:35:30,200
Speaker 4: tax plan? So the longer you wait, the bigger the

735
00:35:30,239 --> 00:35:34,399
Speaker 4: tax explosion. So my question to you listening today, when

736
00:35:34,520 --> 00:35:36,760
Speaker 4: are you going to pay the tax on that account

737
00:35:36,800 --> 00:35:38,240
Speaker 4: that's infected with taxes?

738
00:35:38,840 --> 00:35:39,040
Speaker 1: You know?

739
00:35:39,120 --> 00:35:40,719
Speaker 2: And the other thing is when you start taking R

740
00:35:40,719 --> 00:35:42,359
Speaker 2: and ds and people don't look at it this way,

741
00:35:42,400 --> 00:35:43,000
Speaker 2: think about this.

742
00:35:43,640 --> 00:35:45,520
Speaker 3: We were all taught years ago.

743
00:35:45,840 --> 00:35:47,600
Speaker 2: To open up an IRA or A four oh one

744
00:35:47,680 --> 00:35:50,080
Speaker 2: K or four A through B and get a tax

745
00:35:50,120 --> 00:35:52,919
Speaker 2: deduction on the front end. Wow, that was great. Every

746
00:35:53,000 --> 00:35:54,920
Speaker 2: year you do your taxes, I've been doing taxes for

747
00:35:54,960 --> 00:35:56,880
Speaker 2: a long time, and people say, well, how do I

748
00:35:56,920 --> 00:35:59,319
Speaker 2: reduce my taxes. Well, you can reduce your taxes by

749
00:35:59,320 --> 00:36:01,320
Speaker 2: putting money in an get a tax deduction.

750
00:36:01,680 --> 00:36:04,320
Speaker 3: That's just great. But no one told.

751
00:36:04,160 --> 00:36:07,360
Speaker 2: You when you're twenty thirty, forty to fifty, at seventy,

752
00:36:07,400 --> 00:36:09,480
Speaker 2: you still have to take in this money out. And

753
00:36:09,520 --> 00:36:12,279
Speaker 2: if you go to the retirement tax calculator, which I'm

754
00:36:12,320 --> 00:36:14,160
Speaker 2: asking all of you to do, you can put in

755
00:36:14,200 --> 00:36:16,520
Speaker 2: your money. If it's a million dollars, you'll see what

756
00:36:16,560 --> 00:36:18,279
Speaker 2: you're going to have to take out at certain age.

757
00:36:18,320 --> 00:36:22,560
Speaker 2: Seventy three, folks, it's all taxable, Chris, and people would

758
00:36:22,560 --> 00:36:25,000
Speaker 2: never told that they'd be paying the highest tax in

759
00:36:25,040 --> 00:36:27,560
Speaker 2: the land. And you mentioned it before. What's the tax

760
00:36:27,600 --> 00:36:29,680
Speaker 2: rate going to be when you start taking it out?

761
00:36:29,840 --> 00:36:32,839
Speaker 2: So when Chris says it's a tax time bomb, man,

762
00:36:32,880 --> 00:36:36,520
Speaker 2: I think that's that's a low words. It's explosion, right souly.

763
00:36:36,560 --> 00:36:38,160
Speaker 2: And you know, think about this way is a question

764
00:36:38,280 --> 00:36:40,359
Speaker 2: mark tax rate. So why would you want to live

765
00:36:40,400 --> 00:36:44,560
Speaker 2: in retirement in a question mark tax rate when you

766
00:36:44,640 --> 00:36:47,400
Speaker 2: want to be secure and strategic about that? Well, we

767
00:36:47,400 --> 00:36:48,600
Speaker 2: can show you how to do that. All you do

768
00:36:48,640 --> 00:36:50,400
Speaker 2: is pick of the phone, schedule time to meet with us.

769
00:36:50,400 --> 00:36:52,960
Speaker 2: Schedule time to meet with us because there's so much

770
00:36:52,960 --> 00:36:55,840
Speaker 2: power in them. What we're talking about today, roth conversions

771
00:36:55,880 --> 00:36:59,880
Speaker 2: are the strategy that diffuses the bomb. A roth conversion

772
00:36:59,920 --> 00:37:03,359
Speaker 2: isn't just moving money, it's timing the move to minimize

773
00:37:03,400 --> 00:37:06,960
Speaker 2: taxes for life. And if it's done correctly, wroth conversions

774
00:37:06,960 --> 00:37:10,759
Speaker 2: can reduce future requirement of distributions called rmds. They could

775
00:37:10,760 --> 00:37:13,200
Speaker 2: also stabilize your tax brackets. It can put you an

776
00:37:13,200 --> 00:37:15,320
Speaker 2: old zero tax bracket in the future if you need income.

777
00:37:15,320 --> 00:37:17,600
Speaker 2: If you do it right, they can protect against income

778
00:37:17,600 --> 00:37:20,759
Speaker 2: from social screity taxation. Who's frustrated that they have to

779
00:37:20,800 --> 00:37:23,400
Speaker 2: pay tax on up to eighty five percent of solid security?

780
00:37:23,400 --> 00:37:25,120
Speaker 4: A lot of people are, how do you get rid

781
00:37:25,120 --> 00:37:27,840
Speaker 4: of this? Well, we can show you what about wroth conversions,

782
00:37:27,840 --> 00:37:29,920
Speaker 4: how they can preserve more money for you and your family.

783
00:37:30,560 --> 00:37:33,480
Speaker 4: This is not just guesswork. It must be done strategically

784
00:37:33,640 --> 00:37:36,400
Speaker 4: in the right tax years, in the right amounts. And

785
00:37:36,400 --> 00:37:38,880
Speaker 4: that's why we take a tax approach. We understand taxes,

786
00:37:38,880 --> 00:37:41,279
Speaker 4: we understand what it looks like. We understand we can

787
00:37:41,320 --> 00:37:43,719
Speaker 4: put all together with your investments and your income and

788
00:37:43,800 --> 00:37:47,320
Speaker 4: your taxes, because that's what is about strategic planning.

789
00:37:47,480 --> 00:37:50,240
Speaker 2: And once money is in the roth ira, it grows

790
00:37:50,280 --> 00:37:53,239
Speaker 2: tax free, it comes out tax free, and passes to

791
00:37:53,320 --> 00:37:56,120
Speaker 2: your heirs tax free. So ask yourself this question, what

792
00:37:56,120 --> 00:37:58,879
Speaker 2: accounts do you have that are tax free? There are

793
00:37:58,920 --> 00:38:02,040
Speaker 2: no rm ds, no surprises, and no forced withdrawals during

794
00:38:02,400 --> 00:38:05,400
Speaker 2: market downturns. We can help you show you how to

795
00:38:05,480 --> 00:38:09,040
Speaker 2: convert money into a roth here. So here's the bottom line.

796
00:38:09,080 --> 00:38:11,840
Speaker 2: If you don't have a written roth conversion strategy, you

797
00:38:11,880 --> 00:38:14,319
Speaker 2: will likely pay more in taxes than you need to.

798
00:38:14,480 --> 00:38:17,680
Speaker 2: And once the window closes, it's gone forever. This is

799
00:38:17,719 --> 00:38:20,200
Speaker 2: your window, This is your moment. Call Maggie Tax and

800
00:38:20,239 --> 00:38:23,000
Speaker 2: Wealth Advisors right now. Eight three to three Maggie Tax.

801
00:38:23,320 --> 00:38:26,680
Speaker 2: Request you a Rothology tax free income plan, and believe me,

802
00:38:26,920 --> 00:38:29,640
Speaker 2: we'll show you exactly how much you can convert, when

803
00:38:29,680 --> 00:38:32,360
Speaker 2: to convert it, how to avoid penalties, and how to

804
00:38:32,400 --> 00:38:34,600
Speaker 2: create tax free income for the rest of your life

805
00:38:34,640 --> 00:38:37,440
Speaker 2: and your family's life. Eight three to three Maggie Tax.

806
00:38:37,719 --> 00:38:41,240
Speaker 2: Visit Maggie Tax dot com. Tax free forever isn't magic,

807
00:38:41,320 --> 00:38:43,920
Speaker 2: it's planning. Call now your future self.

808
00:38:44,080 --> 00:38:47,120
Speaker 1: Well, thank you, thank you for listening to Maggie Tax

809
00:38:47,120 --> 00:38:50,360
Speaker 1: and Financial Show with Robert and Chris Maggie of Maggie

810
00:38:50,360 --> 00:38:54,880
Speaker 1: Tax Wealth Advisors. Listen here five to six pm every Saturday,

811
00:38:54,920 --> 00:38:57,680
Speaker 1: and from eleven am till noon every Sunday, or any

812
00:38:57,800 --> 00:39:01,120
Speaker 1: time on the free iHeartRadio app. Remember you can pay

813
00:39:01,239 --> 00:39:05,400
Speaker 1: less tax with Maggie Tax Program. Content provided by Maggie

814
00:39:05,400 --> 00:39:08,080
Speaker 1: Tax Wealth and Advisors. Call them at eight three three

815
00:39:08,560 --> 00:39:15,120
Speaker 1: Maggie Tax, or visit them online at Maggietax dot com