1
00:00:00,480 --> 00:00:03,600
Speaker 1: All these years you've saved up planning for a secure retirement,

2
00:00:03,640 --> 00:00:05,800
Speaker 1: but if you're not careful, it will be the irs

3
00:00:05,800 --> 00:00:08,200
Speaker 1: that is living it up when you retire by taxing

4
00:00:08,240 --> 00:00:11,400
Speaker 1: your hard earned money. Welcome to the Maggie Tax and

5
00:00:11,440 --> 00:00:14,640
Speaker 1: Financial Show with Robert and Chris Maggie of Maggie Tax

6
00:00:14,640 --> 00:00:18,239
Speaker 1: and Wealth Advisors. With over four decades of combined experience

7
00:00:18,520 --> 00:00:22,640
Speaker 1: and tax savings, income planning, and investment opportunities, Robert and

8
00:00:22,720 --> 00:00:26,360
Speaker 1: Chris share advice and tax planning strategies designed to protect

9
00:00:26,520 --> 00:00:29,800
Speaker 1: your retirement next day from Uncle Sam. Call them at

10
00:00:29,840 --> 00:00:33,880
Speaker 1: eight three three Maggie Tax or online at Maggie Tax

11
00:00:33,960 --> 00:00:36,800
Speaker 1: dot com. And now your host for the Maggie Tax

12
00:00:36,840 --> 00:00:39,760
Speaker 1: and Financial Show, Robert and Chris Maggie.

13
00:00:40,040 --> 00:00:42,560
Speaker 2: Welcome Tampa Bay to the Maggie Tax and Financial Show,

14
00:00:42,560 --> 00:00:45,280
Speaker 2: and thanks for joining us today. This is one show

15
00:00:45,280 --> 00:00:47,720
Speaker 2: you don't want to miss because we're talking about a

16
00:00:47,760 --> 00:00:51,120
Speaker 2: financial storm that's forming right now and one that could

17
00:00:51,159 --> 00:00:54,960
Speaker 2: impact every retiree and every dollar that you saved. So

18
00:00:55,040 --> 00:00:58,040
Speaker 2: I'm talking about rising taxes. I'm talking about what they

19
00:00:58,120 --> 00:01:00,240
Speaker 2: mean for your retirement. A lot of people don't think

20
00:01:00,240 --> 00:01:03,000
Speaker 2: about that, and what you can do today to get

21
00:01:03,040 --> 00:01:04,720
Speaker 2: ahead of it. And one thing I recommend go to

22
00:01:04,760 --> 00:01:08,080
Speaker 2: our website, Maggie tax dot com and on the top

23
00:01:08,200 --> 00:01:11,280
Speaker 2: right click on retirement calculator. Folks, this is something that

24
00:01:11,319 --> 00:01:13,480
Speaker 2: will make you understand what we're talking about when it

25
00:01:13,480 --> 00:01:17,160
Speaker 2: comes to taxes. Click on retirement calculator, filling the information

26
00:01:17,680 --> 00:01:20,600
Speaker 2: and in thirty seconds, thirty seconds, you're going to get

27
00:01:20,600 --> 00:01:22,480
Speaker 2: a report back to tell you what your tax is

28
00:01:22,520 --> 00:01:24,720
Speaker 2: going to be when you start taking out the required

29
00:01:25,040 --> 00:01:26,000
Speaker 2: minimum distribution.

30
00:01:26,360 --> 00:01:27,800
Speaker 3: So, Chris, we have a lot to talk about.

31
00:01:27,959 --> 00:01:30,360
Speaker 2: Let's get started, and again, welcome every morning, and thank

32
00:01:30,400 --> 00:01:31,200
Speaker 2: you for joining us.

33
00:01:31,280 --> 00:01:33,160
Speaker 4: That's just it, you know, Welcome everyone. I am Chris

34
00:01:33,160 --> 00:01:35,479
Speaker 4: Maggie and as always, great to be here. I love

35
00:01:35,560 --> 00:01:37,959
Speaker 4: doing the show. I love educating a lot of people.

36
00:01:38,080 --> 00:01:40,240
Speaker 4: Why because you need to know when's the last class

37
00:01:40,280 --> 00:01:43,360
Speaker 4: you had on all this information? You know, think about it?

38
00:01:43,720 --> 00:01:45,520
Speaker 4: You haven't, you know, when you go to school, they

39
00:01:45,520 --> 00:01:50,120
Speaker 4: don't teach this. It's amazing when you get into the

40
00:01:50,160 --> 00:01:52,440
Speaker 4: workforce and then you get into retirement and no one's

41
00:01:52,440 --> 00:01:56,000
Speaker 4: talking about the accumulation phase and the distribution phase and

42
00:01:56,480 --> 00:01:58,920
Speaker 4: how to buy a house and what to do with

43
00:01:59,000 --> 00:02:01,840
Speaker 4: taxes and money away. So invest so you have it

44
00:02:01,880 --> 00:02:04,160
Speaker 4: for income in the most tax efficient way. And then

45
00:02:04,400 --> 00:02:07,720
Speaker 4: you start thinking about when you accumulate all these investments

46
00:02:07,800 --> 00:02:11,040
Speaker 4: and you start saving, and then then what do you

47
00:02:11,080 --> 00:02:13,040
Speaker 4: do if something happens to you? Is it going to

48
00:02:13,040 --> 00:02:15,639
Speaker 4: stay in your in your family? Is are going to

49
00:02:15,720 --> 00:02:17,440
Speaker 4: go through probate? Is it where's it going to go?

50
00:02:17,960 --> 00:02:20,040
Speaker 4: So there's so many things to think about and things

51
00:02:20,080 --> 00:02:23,080
Speaker 4: that you have to do to monitor it throughout. So

52
00:02:23,560 --> 00:02:26,480
Speaker 4: you mentioned at a financial storm that's forming right now.

53
00:02:26,600 --> 00:02:30,280
Speaker 4: My gosh, it is. And we're talking about rising taxes

54
00:02:30,360 --> 00:02:32,320
Speaker 4: and we see it each and every day. We have

55
00:02:32,400 --> 00:02:35,800
Speaker 4: sales tax right, we have property taxes, but what about

56
00:02:35,880 --> 00:02:39,000
Speaker 4: your federal taxes? And many people are saving right now

57
00:02:39,000 --> 00:02:41,239
Speaker 4: in form one case, these accounts have gotten bigger and

58
00:02:41,280 --> 00:02:44,440
Speaker 4: bigger and bigger and bigger, and these iras and but

59
00:02:44,520 --> 00:02:47,200
Speaker 4: guess what, it's a big tax time bomb. So why

60
00:02:47,280 --> 00:02:51,079
Speaker 4: are taxes expected to rise? And this is something that

61
00:02:51,480 --> 00:02:54,200
Speaker 4: you've got to understand where we're coming from here, because

62
00:02:54,280 --> 00:02:57,800
Speaker 4: most advisors are transactional. Most CPAs we talked about this

63
00:02:57,840 --> 00:03:00,240
Speaker 4: in the last show, they talk about the prior, in

64
00:03:00,280 --> 00:03:02,680
Speaker 4: the past. Well, we're talking about the future. We're talking

65
00:03:02,680 --> 00:03:06,120
Speaker 4: about the planning stage. If you spend your life working,

66
00:03:06,280 --> 00:03:09,600
Speaker 4: saving and doing everything right, then you deserve to keep

67
00:03:09,600 --> 00:03:12,919
Speaker 4: the retirement that you built, not watch it disappear because

68
00:03:13,000 --> 00:03:16,200
Speaker 4: tax rates suddenly change. And today we're pulling back the

69
00:03:16,240 --> 00:03:19,519
Speaker 4: curtain on rising tax storm that could impact every retiree

70
00:03:19,520 --> 00:03:21,880
Speaker 4: in America. And that's why it's so important to listen

71
00:03:21,960 --> 00:03:24,440
Speaker 4: up if you want to protect your savings. This is

72
00:03:24,480 --> 00:03:27,799
Speaker 4: the segment of the show that you cannot afford to mess.

73
00:03:27,800 --> 00:03:30,280
Speaker 2: So the way we've been taught all our life is

74
00:03:30,280 --> 00:03:33,399
Speaker 2: to save on a tax deferred basis, meaning put money

75
00:03:33,400 --> 00:03:35,720
Speaker 2: into an IRA A four oh one K, four h

76
00:03:35,800 --> 00:03:37,720
Speaker 2: three B or TSP and many of you have that,

77
00:03:37,840 --> 00:03:39,960
Speaker 2: So listen up because this is important.

78
00:03:40,320 --> 00:03:41,000
Speaker 3: Think about this.

79
00:03:41,400 --> 00:03:44,360
Speaker 2: What if we taught our kids to save on a

80
00:03:44,400 --> 00:03:48,520
Speaker 2: tax free basis, a tax free basis, not a taxable basis.

81
00:03:48,560 --> 00:03:51,440
Speaker 2: Off you're probably listening going, what's he talking about? What

82
00:03:51,480 --> 00:03:54,680
Speaker 2: I'm talking about is a rough IRA where it's tax free.

83
00:03:54,960 --> 00:03:57,000
Speaker 2: And there's something else that the government has given. It's

84
00:03:57,000 --> 00:03:59,840
Speaker 2: called Index Universal Life, and we can't go into it

85
00:03:59,880 --> 00:04:01,560
Speaker 2: on the show right now, but I would encourage all

86
00:04:01,600 --> 00:04:03,640
Speaker 2: of you to make an appointment and come and meet

87
00:04:03,640 --> 00:04:06,040
Speaker 2: with Chris and I. Because when you see these two

88
00:04:06,040 --> 00:04:08,720
Speaker 2: options you have, then you're going to start thinking differently.

89
00:04:09,120 --> 00:04:11,520
Speaker 2: Why the heck am I saving Chris on a tax

90
00:04:11,520 --> 00:04:14,040
Speaker 2: deferred basis when I can have tax free money.

91
00:04:14,160 --> 00:04:16,320
Speaker 4: Let's leave it this way. We all drive on a highway, right,

92
00:04:16,600 --> 00:04:19,359
Speaker 4: So what if you're cruising down the highway and starting

93
00:04:19,480 --> 00:04:23,039
Speaker 4: a little crowded, and then guess what, there's there's there's

94
00:04:23,120 --> 00:04:26,200
Speaker 4: starting to rain, and it's starting to get muggy, and

95
00:04:26,200 --> 00:04:29,720
Speaker 4: it's starting to see the different weather and the storm

96
00:04:29,800 --> 00:04:32,279
Speaker 4: and happening, and guess what, that's the road you don't

97
00:04:32,279 --> 00:04:34,920
Speaker 4: want to be on because that's where you have these

98
00:04:34,960 --> 00:04:38,400
Speaker 4: iras and form one case, eventually you're gonna run into

99
00:04:38,440 --> 00:04:40,640
Speaker 4: a financial storm, and those are the taxes that you

100
00:04:40,720 --> 00:04:43,160
Speaker 4: have to pay. But what if you're on the same freeway,

101
00:04:43,400 --> 00:04:46,719
Speaker 4: there's no traffic and you're cruising, You got cruise control on,

102
00:04:47,320 --> 00:04:50,200
Speaker 4: it's a nice sunny day, put down the windows, you

103
00:04:50,240 --> 00:04:53,120
Speaker 4: can breathe the fresh air, and that's your tax free

104
00:04:53,160 --> 00:04:56,520
Speaker 4: retirement highway. That's what we're talking about here. And why

105
00:04:56,560 --> 00:04:59,920
Speaker 4: are taxes expected to rise? Why because the US now

106
00:05:00,320 --> 00:05:04,120
Speaker 4: debt is skyrocking beyond thirty four trillion dollars. So when

107
00:05:04,279 --> 00:05:08,279
Speaker 4: debt grows, taxes almost always follow. And it's not just

108
00:05:08,279 --> 00:05:10,720
Speaker 4: about now, it's not just about the next two or

109
00:05:10,760 --> 00:05:14,000
Speaker 4: three years. We might get through that where nothing changes,

110
00:05:14,040 --> 00:05:17,040
Speaker 4: but after that, when you're in retirement seven years and

111
00:05:17,080 --> 00:05:19,919
Speaker 4: you haven't worked twelve years and you haven't worked, and

112
00:05:19,960 --> 00:05:23,960
Speaker 4: then these start, these financial storms start to happen. You

113
00:05:23,960 --> 00:05:26,400
Speaker 4: can avoid it if you do start planning now. And

114
00:05:26,400 --> 00:05:27,880
Speaker 4: that's why it's so important to pick up the phone,

115
00:05:27,920 --> 00:05:30,040
Speaker 4: schedule time to meet with us. Eight three to three

116
00:05:30,080 --> 00:05:33,000
Speaker 4: maggie tax. That's eight three to three maggie tax.

117
00:05:33,120 --> 00:05:35,680
Speaker 2: And we all know this current rates their schedule to

118
00:05:35,760 --> 00:05:40,280
Speaker 2: expire soon. So if Congress does nothing, tax brackets automatically

119
00:05:40,360 --> 00:05:42,760
Speaker 2: jump back to the higher levels. So in two years

120
00:05:42,760 --> 00:05:46,000
Speaker 2: when the election comes back. This is not guaranteed, it's

121
00:05:46,440 --> 00:05:49,360
Speaker 2: it's not permanent. It's what I'm looking for. It's temporary.

122
00:05:49,880 --> 00:05:52,480
Speaker 2: So you have to do something about it, because retirees

123
00:05:52,480 --> 00:05:55,320
Speaker 2: are the number one holders of tax deferred money, and

124
00:05:55,320 --> 00:05:58,760
Speaker 2: that's where the IRS looks when it needs revenue, because

125
00:05:58,800 --> 00:06:01,240
Speaker 2: you're going to take the requirement of distribution out when

126
00:06:01,279 --> 00:06:04,159
Speaker 2: you turn seventy three. And again, Chris, we can show

127
00:06:04,200 --> 00:06:06,480
Speaker 2: them the report that how much it's going to come

128
00:06:06,480 --> 00:06:08,760
Speaker 2: out at seventy three, and it could be more than

129
00:06:08,800 --> 00:06:10,640
Speaker 2: what you'd take account.

130
00:06:10,400 --> 00:06:11,039
Speaker 3: Than you're working.

131
00:06:11,120 --> 00:06:12,560
Speaker 4: That's it. So when you come in to meet with us,

132
00:06:12,640 --> 00:06:14,880
Speaker 4: if you have an IRA, poom okay, we'll show you

133
00:06:14,960 --> 00:06:17,120
Speaker 4: what the amount that has to come out. It's called

134
00:06:17,279 --> 00:06:20,000
Speaker 4: the requirement and distribution for some at seventy three. For

135
00:06:20,120 --> 00:06:23,080
Speaker 4: others it's if you're born after nineteen sixty, it's aged

136
00:06:23,080 --> 00:06:26,000
Speaker 4: seventy five. So you need to know this. We had

137
00:06:26,000 --> 00:06:28,320
Speaker 4: a client that came in last week, new client and

138
00:06:28,360 --> 00:06:31,400
Speaker 4: they have an IRA and it's a large sum of IRA.

139
00:06:31,920 --> 00:06:34,159
Speaker 4: They had no idea. They're seventy two years old, they

140
00:06:34,200 --> 00:06:36,120
Speaker 4: have to take a distribution next year. They had no

141
00:06:36,279 --> 00:06:39,520
Speaker 4: idea what the requirement in distribution has to has to be.

142
00:06:40,040 --> 00:06:41,640
Speaker 4: And they said, well, I've been working with my advisor

143
00:06:41,680 --> 00:06:43,560
Speaker 4: for ten years. And I said why are you here

144
00:06:43,600 --> 00:06:45,680
Speaker 4: and they said, well, because these are things we want

145
00:06:45,680 --> 00:06:47,839
Speaker 4: to be aware of and we want a plan. We

146
00:06:47,920 --> 00:06:50,800
Speaker 4: just have a transactional advisor that just invests our money,

147
00:06:50,839 --> 00:06:52,640
Speaker 4: but we want a complete plan. And that's why they

148
00:06:52,680 --> 00:06:54,960
Speaker 4: came to meet with us, and we showed them the

149
00:06:55,040 --> 00:06:56,640
Speaker 4: R and D and they said, well, what do I

150
00:06:56,640 --> 00:06:59,440
Speaker 4: have to pay tax on that? And we show them, yes,

151
00:06:59,480 --> 00:07:01,520
Speaker 4: you do, and then what's the strategy to get that

152
00:07:01,640 --> 00:07:04,280
Speaker 4: money out to get on the highway of tax free?

153
00:07:04,520 --> 00:07:08,240
Speaker 4: Because taxes are expected to rise and inflation is driven

154
00:07:08,560 --> 00:07:12,480
Speaker 4: government costs up, that directly fuels the need for higher taxes.

155
00:07:12,800 --> 00:07:16,360
Speaker 4: And most retires are planning for retirement using today's tax rates,

156
00:07:16,440 --> 00:07:19,600
Speaker 4: not tomorrow's, which are expected to be higher. Are you

157
00:07:19,720 --> 00:07:24,440
Speaker 4: planning for expected tax rates to be higher? And if

158
00:07:24,480 --> 00:07:27,280
Speaker 4: you are, then that's a great thing. But if you're not,

159
00:07:27,440 --> 00:07:29,120
Speaker 4: haven't even thought about it? It's so more than to

160
00:07:29,120 --> 00:07:31,240
Speaker 4: pick up the phone, schedule time to meet with us.

161
00:07:31,280 --> 00:07:32,960
Speaker 4: Eight three to three Maggie Tax.

162
00:07:33,080 --> 00:07:35,760
Speaker 3: Okay, so what are we talking about here? What's the solution?

163
00:07:35,960 --> 00:07:39,080
Speaker 2: Because at Maggie Tax and Wealth Advisors we use something

164
00:07:39,120 --> 00:07:42,760
Speaker 2: called the Rothologist method. This is a step by step

165
00:07:42,840 --> 00:07:46,760
Speaker 2: approach to roth conversions and tax smart planning that can

166
00:07:46,800 --> 00:07:48,560
Speaker 2: save families thousands over time.

167
00:07:48,960 --> 00:07:49,880
Speaker 3: So listen carefully.

168
00:07:49,880 --> 00:07:53,200
Speaker 2: If you're between fifty five and seventy five, this is

169
00:07:53,280 --> 00:07:56,440
Speaker 2: your window of opportunity. This is your solution. So don't

170
00:07:56,440 --> 00:07:59,200
Speaker 2: wait for tax laws to change in the future. Sit

171
00:07:59,280 --> 00:08:02,400
Speaker 2: down with us and see if a ROTH conversion strategy.

172
00:08:01,880 --> 00:08:02,960
Speaker 3: Makes sense for you.

173
00:08:03,120 --> 00:08:05,360
Speaker 2: Call us at eight three to three Maggi Tax and

174
00:08:05,440 --> 00:08:08,480
Speaker 2: visit Maggie tax dot com and Chris. So many people

175
00:08:08,480 --> 00:08:10,760
Speaker 2: I think that when we see them there like afraid

176
00:08:10,800 --> 00:08:11,720
Speaker 2: to talk about a WROTH.

177
00:08:12,000 --> 00:08:13,680
Speaker 3: Is that a good thing or a bad thing?

178
00:08:13,720 --> 00:08:16,520
Speaker 2: My tax bracket's gonna go up, I gotta pay more taxes.

179
00:08:16,760 --> 00:08:19,360
Speaker 2: I don't think that's the that's wrong because they don't

180
00:08:19,440 --> 00:08:21,800
Speaker 2: understand how the rothology report works.

181
00:08:21,920 --> 00:08:23,720
Speaker 4: Well, that's just it. They're not educated. You know. We

182
00:08:23,720 --> 00:08:25,320
Speaker 4: talk about this from the beginning of the show. When's

183
00:08:25,320 --> 00:08:27,280
Speaker 4: the last class you had? Don't how to convert my

184
00:08:27,440 --> 00:08:30,720
Speaker 4: money to the roth ira or the tax free buckets?

185
00:08:30,800 --> 00:08:34,080
Speaker 4: You don't have those classes, right, But here you do.

186
00:08:34,200 --> 00:08:36,480
Speaker 4: And that's why it's so important. Every retirement plan that

187
00:08:36,520 --> 00:08:39,280
Speaker 4: we put together is different. This is your money, not

188
00:08:39,360 --> 00:08:41,720
Speaker 4: your advisor's not your CPS, it's your money. What are

189
00:08:41,760 --> 00:08:45,080
Speaker 4: you doing to put together an income plan exactly? What

190
00:08:45,120 --> 00:08:47,480
Speaker 4: are you doing to put together an investment plan? What

191
00:08:47,559 --> 00:08:50,520
Speaker 4: are you doing to put together a tax plan? What

192
00:08:50,559 --> 00:08:52,640
Speaker 4: are you doing for your estate plan? What are you

193
00:08:52,640 --> 00:08:55,400
Speaker 4: doing for your legacy plan? What about social Security? How

194
00:08:55,400 --> 00:08:57,559
Speaker 4: many people who haven't taken solid security. What's your Social

195
00:08:57,559 --> 00:09:01,120
Speaker 4: Security maximization plan? Do you have one? So if you're

196
00:09:01,400 --> 00:09:04,560
Speaker 4: listening today and you get these questions and they start

197
00:09:04,600 --> 00:09:06,840
Speaker 4: going through your head and you're saying I don't have

198
00:09:06,880 --> 00:09:09,720
Speaker 4: those things, well that's okay, that's why you're here. Pick

199
00:09:09,760 --> 00:09:11,880
Speaker 4: up the phone, schedule time to meet with US eight

200
00:09:11,920 --> 00:09:15,080
Speaker 4: three to three Maggie tax. Because even a small tax

201
00:09:15,200 --> 00:09:18,640
Speaker 4: increase can devastate retirement income. A jump from twenty two

202
00:09:18,679 --> 00:09:21,760
Speaker 4: percent to twenty eight percent, it's a massive over a lifetime.

203
00:09:21,760 --> 00:09:25,160
Speaker 4: Think about that six percent on your income additional why

204
00:09:25,160 --> 00:09:26,800
Speaker 4: would you not want to keep that or why would

205
00:09:26,800 --> 00:09:28,160
Speaker 4: you not want to have that? In the most tax

206
00:09:28,160 --> 00:09:30,760
Speaker 4: efficient way, you can pick up the phone, schedule time

207
00:09:30,800 --> 00:09:32,920
Speaker 4: to meet with US eight three to three Maggie tax.

208
00:09:33,120 --> 00:09:35,160
Speaker 2: So here's what I want all of you to do.

209
00:09:35,240 --> 00:09:37,720
Speaker 2: While you're listening, close your eyes for a minute. Just

210
00:09:37,760 --> 00:09:39,240
Speaker 2: close your eyes from it and listen to what I'm

211
00:09:39,240 --> 00:09:42,200
Speaker 2: going to say. Imagine having a business partner who can

212
00:09:42,240 --> 00:09:45,560
Speaker 2: rewrite the rules any time they want, and they can

213
00:09:45,600 --> 00:09:48,720
Speaker 2: take a bigger share without asking and do it without warning.

214
00:09:49,120 --> 00:09:53,160
Speaker 2: That's exactly what happens with taxes in retirement and it's

215
00:09:53,200 --> 00:09:56,840
Speaker 2: time to finally understand who your silent partner really is.

216
00:09:57,240 --> 00:09:59,000
Speaker 2: And Chris, I think so many people do not think

217
00:09:59,040 --> 00:10:00,320
Speaker 2: about it that way. But you've got how do you

218
00:10:00,360 --> 00:10:03,320
Speaker 2: simple terminology an example, that's what's happening to all of

219
00:10:03,320 --> 00:10:05,439
Speaker 2: you out there right now. So pick up the phone,

220
00:10:05,480 --> 00:10:08,160
Speaker 2: give us a call eight three to three Maggie tax,

221
00:10:08,360 --> 00:10:10,640
Speaker 2: and let us do the Rothology method with all of you.

222
00:10:10,880 --> 00:10:13,199
Speaker 2: It doesn't cost you, but it could save you thousands

223
00:10:13,240 --> 00:10:14,280
Speaker 2: of dollars in taxes.

224
00:10:14,360 --> 00:10:16,640
Speaker 4: Absolutely. So if you're listening and thinking I had no

225
00:10:16,720 --> 00:10:20,320
Speaker 4: idea taxes could change my retirement this much, well, don't worry.

226
00:10:20,360 --> 00:10:24,240
Speaker 4: You're in the right place. Awareness is step one and

227
00:10:24,280 --> 00:10:26,760
Speaker 4: you've just taken it. So we're so happy that you've

228
00:10:26,840 --> 00:10:29,720
Speaker 4: heard this message because coming up next, we're going to

229
00:10:29,760 --> 00:10:32,520
Speaker 4: introduce to you the financial partner. You never asked for it,

230
00:10:32,559 --> 00:10:36,240
Speaker 4: but you still have and this partner can rise their

231
00:10:36,320 --> 00:10:39,280
Speaker 4: share of your savings anytime they want. You don't want

232
00:10:39,320 --> 00:10:41,800
Speaker 4: to miss this A three to three Maggie tax. That's

233
00:10:41,800 --> 00:10:43,680
Speaker 4: eight three to three Maggie tax.

234
00:10:48,040 --> 00:10:51,600
Speaker 1: Stop funding Uncle Sam's retirement and start planning for your

235
00:10:51,640 --> 00:10:55,120
Speaker 1: own successful retirement. As we return to the Maggie Tax

236
00:10:55,160 --> 00:10:58,560
Speaker 1: Financial Show with your host Robert and Chris Maggie with

237
00:10:58,679 --> 00:11:01,800
Speaker 1: Maggie Tax and Wealth Advice. For information on how you

238
00:11:01,840 --> 00:11:05,440
Speaker 1: can create a tax free retirement, call eight three three

239
00:11:05,880 --> 00:11:10,200
Speaker 1: Maggie Tax or visit Maggie Tax dot com. Now your

240
00:11:10,200 --> 00:11:14,080
Speaker 1: host with Maggie Tax and Wealth Advisors Robert and Chris Maggie.

241
00:11:14,480 --> 00:11:16,600
Speaker 3: Welcome back to the Maggie Tax and Financial Show.

242
00:11:16,640 --> 00:11:18,920
Speaker 2: My name is Robert Maggie and I'm here with my

243
00:11:19,000 --> 00:11:21,920
Speaker 2: son and co host Chris Maggie. And just before we

244
00:11:21,960 --> 00:11:24,680
Speaker 2: closed out the first segment, we ask you to do something.

245
00:11:24,720 --> 00:11:25,920
Speaker 3: I'm going to ask you to do it again.

246
00:11:26,040 --> 00:11:28,760
Speaker 2: If you're just joining us, close your eyes for a minute,

247
00:11:29,200 --> 00:11:30,720
Speaker 2: close your eyes from enough you're driving.

248
00:11:30,760 --> 00:11:33,280
Speaker 3: Please don't do it. Don't do it that way. That's

249
00:11:33,280 --> 00:11:34,040
Speaker 3: not what I'm asking.

250
00:11:34,080 --> 00:11:35,640
Speaker 2: But seriously, what I want you to do is think

251
00:11:35,679 --> 00:11:37,840
Speaker 2: about what I'm going to say, because this is where.

252
00:11:37,760 --> 00:11:38,800
Speaker 3: You know it hits home.

253
00:11:39,440 --> 00:11:42,200
Speaker 2: Imagine having a business partner who can rewrite the rules

254
00:11:42,240 --> 00:11:45,079
Speaker 2: anytime they want, and they can take a bigger share

255
00:11:45,400 --> 00:11:48,880
Speaker 2: without asking and do it without warning. That's exactly what

256
00:11:48,920 --> 00:11:52,480
Speaker 2: happens with taxes and retirement. It's time to finally understand

257
00:11:52,679 --> 00:11:55,600
Speaker 2: who your silent partner really is Christen. Every time we

258
00:11:55,640 --> 00:11:57,760
Speaker 2: do the rothology report, and every time we do a

259
00:11:57,840 --> 00:12:00,560
Speaker 2: Roth conversion and we show them the the sheet that

260
00:12:00,600 --> 00:12:02,880
Speaker 2: we show them what their tax is going to be,

261
00:12:03,640 --> 00:12:05,560
Speaker 2: their eyes open up wide and they go like, no

262
00:12:05,559 --> 00:12:08,160
Speaker 2: one ever told me that. My advisor didn't tell me.

263
00:12:08,160 --> 00:12:10,520
Speaker 2: Of course he didn't because he's not tax people. That's

264
00:12:10,520 --> 00:12:13,040
Speaker 2: the difference of Maggie tax and wealth advisors, Chris, because

265
00:12:13,160 --> 00:12:15,920
Speaker 2: we do this with every client every day, all year round.

266
00:12:16,080 --> 00:12:18,240
Speaker 4: Well, we do complete planning, and you have to understand

267
00:12:18,280 --> 00:12:22,440
Speaker 4: that complete planning includes taxes, not just investments. You can

268
00:12:22,480 --> 00:12:24,560
Speaker 4: manage your own money. You can put the money that

269
00:12:24,600 --> 00:12:27,280
Speaker 4: you have and invest it yourself. Right, But again, how

270
00:12:27,440 --> 00:12:29,800
Speaker 4: you incorporate the tax out of it, How you incorporate

271
00:12:29,840 --> 00:12:32,000
Speaker 4: the income planning towards it? How do you have income

272
00:12:32,000 --> 00:12:33,559
Speaker 4: in the most tax efficient way? How do you pay

273
00:12:33,600 --> 00:12:36,319
Speaker 4: less taxes? How do you have your investments? Do different things?

274
00:12:36,360 --> 00:12:38,960
Speaker 4: This is what we do. That's why it's so important

275
00:12:39,000 --> 00:12:41,520
Speaker 4: to meet with the right advisor because if you have

276
00:12:41,559 --> 00:12:44,920
Speaker 4: a transactional advisor, guess what, and they're not talking to

277
00:12:44,960 --> 00:12:48,839
Speaker 4: you about taxes. We believe that they're doing a disservice

278
00:12:49,080 --> 00:12:52,160
Speaker 4: to you. And it doesn't matter the relationship you've had

279
00:12:52,200 --> 00:12:54,760
Speaker 4: with them. If you go to them and say let's

280
00:12:54,760 --> 00:12:56,640
Speaker 4: talk about tax and they say, well, I can't talk

281
00:12:56,640 --> 00:13:00,080
Speaker 4: about taxes, or you should consult the tax advisor. That

282
00:13:00,080 --> 00:13:02,240
Speaker 4: should be your red flag right there to pick up

283
00:13:02,480 --> 00:13:05,640
Speaker 4: your stuff and do something, to find someone else to

284
00:13:05,679 --> 00:13:08,480
Speaker 4: work with. And I mean that because they're not doing

285
00:13:08,520 --> 00:13:10,160
Speaker 4: the right thing for you. As I go into a

286
00:13:10,200 --> 00:13:13,240
Speaker 4: doctor and you have pains and they're not telling you

287
00:13:13,280 --> 00:13:15,280
Speaker 4: what you need to do to fix it. And at

288
00:13:15,320 --> 00:13:17,280
Speaker 4: the end of the day, this is your money. You've

289
00:13:17,320 --> 00:13:19,400
Speaker 4: worked hard for it. What are you doing? So when

290
00:13:19,480 --> 00:13:22,400
Speaker 4: you have that business partner who can rewrite the rules

291
00:13:22,400 --> 00:13:24,679
Speaker 4: anytime they want, I would not want to be in

292
00:13:24,720 --> 00:13:27,280
Speaker 4: a relationship with that partner.

293
00:13:27,760 --> 00:13:27,960
Speaker 3: You know.

294
00:13:28,000 --> 00:13:31,240
Speaker 4: That's a bad business relationship. So your IRA and your

295
00:13:31,240 --> 00:13:34,720
Speaker 4: forming K, I have a tax ioe you attached. You

296
00:13:34,800 --> 00:13:37,680
Speaker 4: don't fully own that money. The IRS owns a portion

297
00:13:37,840 --> 00:13:40,120
Speaker 4: of it. That's the problem here, So what are you

298
00:13:40,120 --> 00:13:42,720
Speaker 4: doing about it? So you have to defuse this big

299
00:13:42,760 --> 00:13:46,400
Speaker 4: tax time bomb and rmds forced retirees to withdraw money

300
00:13:46,400 --> 00:13:49,040
Speaker 4: and pay taxes even when they don't need the income.

301
00:13:49,400 --> 00:13:51,760
Speaker 4: If that's happening to you. What are you doing about it?

302
00:13:51,960 --> 00:13:54,720
Speaker 4: Because most people. Last week I met with a client

303
00:13:55,080 --> 00:13:56,520
Speaker 4: and I showed them that you have to take forty

304
00:13:56,559 --> 00:13:59,000
Speaker 4: five thousand dollars out of your overtiment account next year.

305
00:13:59,320 --> 00:14:01,080
Speaker 4: And they say, well, we don't need it. What are

306
00:14:01,080 --> 00:14:02,880
Speaker 4: we going to do with it? They'd had no idea,

307
00:14:03,200 --> 00:14:05,240
Speaker 4: But when we educated them, they said, oh my gosh,

308
00:14:05,280 --> 00:14:07,000
Speaker 4: I can leverage my money. I can do some really

309
00:14:07,040 --> 00:14:10,240
Speaker 4: cool things to provide tax frame money to my spouse,

310
00:14:10,440 --> 00:14:12,960
Speaker 4: to my kids, to my grandkids. They thought there was

311
00:14:12,960 --> 00:14:15,440
Speaker 4: an opportunity of a lifetime. They wished a knew years ago.

312
00:14:15,559 --> 00:14:17,400
Speaker 4: So pick up the phone, schedule time to meet with us.

313
00:14:17,480 --> 00:14:20,280
Speaker 4: Eight three to three Maggie Tax. Visit our website at

314
00:14:20,280 --> 00:14:22,520
Speaker 4: Maggie tax dot com. There's so much information right there

315
00:14:22,520 --> 00:14:25,120
Speaker 4: at your fingertips eight three three Maggie Tax.

316
00:14:25,560 --> 00:14:27,840
Speaker 2: And the way you can look at this, think about

317
00:14:27,880 --> 00:14:33,320
Speaker 2: this higher future tax rates, shrink your withdrawals because it's

318
00:14:33,360 --> 00:14:35,080
Speaker 2: simple math. If you take more out and you have

319
00:14:35,200 --> 00:14:36,840
Speaker 2: to pay tax, it's not all yours. I'll give you

320
00:14:37,200 --> 00:14:39,360
Speaker 2: a big example here. We meet with a lot of

321
00:14:39,400 --> 00:14:41,520
Speaker 2: clients that have, you know, five hundred thousand a million

322
00:14:41,520 --> 00:14:43,960
Speaker 2: and even more. And this one gentleman comes in and

323
00:14:43,960 --> 00:14:45,560
Speaker 2: he says to me, Bobby, I have a million dollars

324
00:14:45,600 --> 00:14:49,200
Speaker 2: in my IRA and Chris and I politely said, no, sir,

325
00:14:49,240 --> 00:14:51,880
Speaker 2: you don't, And he said, what do you mean, I don't.

326
00:14:52,240 --> 00:14:54,240
Speaker 2: It says it right there on the statement. Yeah, that's

327
00:14:54,240 --> 00:14:56,560
Speaker 2: what it says, but it's paper. So I said, well,

328
00:14:56,560 --> 00:14:59,720
Speaker 2: who's going to pay the taxes? And Chris said to him,

329
00:15:00,120 --> 00:15:03,760
Speaker 2: you is it going to be irs or is it

330
00:15:03,800 --> 00:15:06,800
Speaker 2: going to be your kids? And we shut him down

331
00:15:07,000 --> 00:15:10,320
Speaker 2: because he did he never heard that before from an advisor.

332
00:15:10,800 --> 00:15:12,720
Speaker 2: So what we did was we did the illustration that

333
00:15:12,760 --> 00:15:16,000
Speaker 2: we show talk about everybody on the Maggie Tax website

334
00:15:16,640 --> 00:15:20,680
Speaker 2: or retirement tax bill, and it clearly showed that he's

335
00:15:20,720 --> 00:15:23,840
Speaker 2: got a lot of taxes to pay. Chris, right, what happened?

336
00:15:24,160 --> 00:15:26,360
Speaker 3: What happened? He was like, what do I do now?

337
00:15:26,760 --> 00:15:29,520
Speaker 2: Because his advisor said, you know, just does the stock

338
00:15:29,560 --> 00:15:32,160
Speaker 2: spawns and mutual funds. And look, there's nothing wrong with

339
00:15:32,200 --> 00:15:33,920
Speaker 2: an advisor because they.

340
00:15:33,840 --> 00:15:34,480
Speaker 3: Grow you money.

341
00:15:34,480 --> 00:15:37,000
Speaker 2: That's great, but they should be talking about the rest

342
00:15:37,000 --> 00:15:40,520
Speaker 2: of the story. Okay, remember Paul Harvey, many of you

343
00:15:40,560 --> 00:15:40,960
Speaker 2: tell me.

344
00:15:40,960 --> 00:15:41,800
Speaker 3: The rest of the story.

345
00:15:41,800 --> 00:15:44,080
Speaker 2: The rest of the story is taxes and Chris, when

346
00:15:44,120 --> 00:15:46,600
Speaker 2: he realized what he had to do, he said, well,

347
00:15:46,640 --> 00:15:48,520
Speaker 2: how can we fix it? And when we talk about

348
00:15:48,520 --> 00:15:53,680
Speaker 2: the rithology report, strategically, strategically is the word that we

349
00:15:53,800 --> 00:15:56,880
Speaker 2: use because we showed him over five years how to

350
00:15:57,000 --> 00:15:59,200
Speaker 2: draw the money, pay the least amount of tax, and

351
00:15:59,240 --> 00:16:00,560
Speaker 2: have all tax money.

352
00:16:00,640 --> 00:16:03,080
Speaker 4: You got it. You know, higher future tax raids shrink

353
00:16:03,120 --> 00:16:06,920
Speaker 4: your withdrawals and same savings and less spending power and

354
00:16:07,000 --> 00:16:09,640
Speaker 4: more ira withdrawals can cause more of your social security

355
00:16:09,760 --> 00:16:12,600
Speaker 4: become a taxable event. It could be double tax hit.

356
00:16:12,920 --> 00:16:16,960
Speaker 4: You know, retireers have the least flexibility. Workers can adjust.

357
00:16:17,000 --> 00:16:20,560
Speaker 4: So my dad mentioned the if you're fifty to seventy five,

358
00:16:20,680 --> 00:16:23,600
Speaker 4: you have to do something now because workers, if you're working,

359
00:16:23,600 --> 00:16:25,000
Speaker 4: you can adjust to some of the things. You can

360
00:16:25,040 --> 00:16:27,480
Speaker 4: put money away, you can pay the taxes. But retirees

361
00:16:27,600 --> 00:16:32,320
Speaker 4: can't simply rebuild their accounts. They're stuck. So you mentioned

362
00:16:32,320 --> 00:16:35,680
Speaker 4: an analogy, we'll use it. You know, the football teams

363
00:16:36,200 --> 00:16:38,840
Speaker 4: think about the football games that happen, right. You know,

364
00:16:38,880 --> 00:16:40,920
Speaker 4: a team could be up thirty to nothing and a halftime,

365
00:16:40,960 --> 00:16:44,760
Speaker 4: but guess what the other team comes back and beats them,

366
00:16:45,360 --> 00:16:48,400
Speaker 4: you know, forty one to thirty, right, So what happens

367
00:16:48,640 --> 00:16:52,000
Speaker 4: that's the IRS. They're coming back and they're going to

368
00:16:52,120 --> 00:16:54,880
Speaker 4: get you with these large iras and form one CA's

369
00:16:54,920 --> 00:16:57,880
Speaker 4: because of taxes. At the end of the day, who

370
00:16:57,960 --> 00:17:00,680
Speaker 4: is going to win. That's your silent partner. So what

371
00:17:00,720 --> 00:17:03,880
Speaker 4: are you doing about it? Don't get into business with

372
00:17:04,600 --> 00:17:07,920
Speaker 4: a partner who can rewrite their rules anytime they want.

373
00:17:08,080 --> 00:17:10,320
Speaker 4: If you're in that relationship, now pick up the phone,

374
00:17:10,359 --> 00:17:12,960
Speaker 4: schedule time to meet with us. Eight three three maggie tax.

375
00:17:13,240 --> 00:17:14,960
Speaker 4: That's eight three to three maggie tax.

376
00:17:15,080 --> 00:17:15,640
Speaker 3: And here's the thing.

377
00:17:15,680 --> 00:17:18,439
Speaker 2: If you've never thought of the IRS as a silent

378
00:17:18,520 --> 00:17:21,000
Speaker 2: partner in your retirement, well now is the time to

379
00:17:21,000 --> 00:17:23,879
Speaker 2: think about it. Now you see the truth. But the

380
00:17:23,920 --> 00:17:26,920
Speaker 2: good news is you can take control back. And that's

381
00:17:26,960 --> 00:17:29,760
Speaker 2: exactly what we're covering here next because in the next

382
00:17:29,760 --> 00:17:31,520
Speaker 2: segment you'll see how you can do that. But think

383
00:17:31,560 --> 00:17:34,880
Speaker 2: about this. We talked about the retirement tax bill. Many

384
00:17:34,880 --> 00:17:37,600
Speaker 2: of you probably never use it, but go to our website,

385
00:17:38,119 --> 00:17:40,440
Speaker 2: put the information in and if you don't want to

386
00:17:40,440 --> 00:17:42,440
Speaker 2: be honest with yourself, then put any number in there.

387
00:17:42,480 --> 00:17:44,960
Speaker 2: But see what it shows you because your advisor is

388
00:17:45,000 --> 00:17:45,919
Speaker 2: not talking about it.

389
00:17:46,080 --> 00:17:48,440
Speaker 3: That's what we do with Maggie Tax and wealthy advisors.

390
00:17:48,520 --> 00:17:51,840
Speaker 2: So you know, don't don't sit there and do nothing, Chris,

391
00:17:51,920 --> 00:17:53,679
Speaker 2: That's what happens many times with people.

392
00:17:54,000 --> 00:17:56,200
Speaker 4: That's exactly right. So that's why it's something. It's something

393
00:17:56,280 --> 00:17:58,480
Speaker 4: you have to do now. It's because it's your money.

394
00:17:58,840 --> 00:18:00,640
Speaker 4: You know. If you've never thought that the IRS could

395
00:18:00,640 --> 00:18:03,160
Speaker 4: be a part of your retirement, then think again, because

396
00:18:03,200 --> 00:18:06,480
Speaker 4: doing nothing is choosing to let the IRS control your income.

397
00:18:06,520 --> 00:18:09,399
Speaker 4: You're an unknown question mark future tax rate. Don't let

398
00:18:09,400 --> 00:18:12,240
Speaker 4: it happen. So stay with us because next we'll break

399
00:18:12,280 --> 00:18:16,040
Speaker 4: down the exact strategies retires are using right now, right

400
00:18:16,040 --> 00:18:21,639
Speaker 4: now to reduce lifetime taxes while taxes are still historically low.

401
00:18:21,960 --> 00:18:24,440
Speaker 4: So visit our website at Maggie Tax dot com. Eight

402
00:18:24,480 --> 00:18:28,159
Speaker 4: three three Maggie Tax and don't forget Every Sunday on ABCTV,

403
00:18:28,800 --> 00:18:32,840
Speaker 4: tune into our financial show thirty minutes on ABC at

404
00:18:32,840 --> 00:18:36,320
Speaker 4: ten thirty am every Sunday eight three three Maggie Tax.

405
00:18:36,440 --> 00:18:38,160
Speaker 4: Pick up the phone, schedule time to meet with us.

406
00:18:38,160 --> 00:18:39,639
Speaker 4: Eight three to three Maggie Tax.

407
00:18:43,560 --> 00:18:47,160
Speaker 1: Stop funding Uncle Sam's retirement and start planning for your

408
00:18:47,160 --> 00:18:50,639
Speaker 1: own successful retirement as we return to the Maggie Tax

409
00:18:50,680 --> 00:18:54,080
Speaker 1: Financial Show with your host Robert and Chris. Maggie with

410
00:18:54,200 --> 00:18:57,359
Speaker 1: Maggie Tax and Wealth Advisors. For information on how you

411
00:18:57,359 --> 00:19:00,520
Speaker 1: can create a tax free retirement, call a eight three

412
00:19:00,720 --> 00:19:05,480
Speaker 1: three Maggie Tax or visit Maggie Tax dot com. Now

413
00:19:05,480 --> 00:19:08,560
Speaker 1: your host with Maggie Tax and Wealth Advisors, Robert and

414
00:19:08,640 --> 00:19:09,520
Speaker 1: Chris Maggie.

415
00:19:09,720 --> 00:19:12,560
Speaker 3: Hello, and welcome back to the Maggie Tax and Financial Show.

416
00:19:12,880 --> 00:19:17,280
Speaker 2: Hold on, Hold on a second, Chris, Chris, Chris, wake up?

417
00:19:18,040 --> 00:19:20,640
Speaker 3: No, no, no, Chris, Chris. You're having a bad dream. Chris,

418
00:19:20,680 --> 00:19:22,000
Speaker 3: are you okay? Wake up? Wake up?

419
00:19:22,520 --> 00:19:23,320
Speaker 4: Yeah? What?

420
00:19:23,480 --> 00:19:25,080
Speaker 3: What? What? What happened? What happened?

421
00:19:25,280 --> 00:19:28,240
Speaker 4: I just had dreaming about taxes and how I'm gonna

422
00:19:28,280 --> 00:19:31,119
Speaker 4: lose if I have an IRA. Oh my goodness, it's okay.

423
00:19:31,160 --> 00:19:33,879
Speaker 3: It's just a dream. No worry about it, folks. This

424
00:19:33,920 --> 00:19:37,840
Speaker 3: is what we're talking about. Oh no, I'm sorry.

425
00:19:37,880 --> 00:19:38,959
Speaker 2: I had to do that. I had to wake up

426
00:19:38,960 --> 00:19:41,200
Speaker 2: my son. Sometimes he sleeps too much. But this is

427
00:19:41,280 --> 00:19:43,320
Speaker 2: serious stuff, folks. I hope you got the message and

428
00:19:43,359 --> 00:19:45,440
Speaker 2: what we're trying to tell you, because this is where

429
00:19:45,480 --> 00:19:49,479
Speaker 2: everything changes. Taxes don't have to control your retirement. And

430
00:19:49,520 --> 00:19:52,920
Speaker 2: if you take strategic action while the window is open,

431
00:19:53,160 --> 00:19:55,359
Speaker 2: and right now that window is wide open, but not

432
00:19:55,800 --> 00:19:56,240
Speaker 2: for long.

433
00:19:56,280 --> 00:19:57,639
Speaker 3: Don't go to sleep, guys, wake up.

434
00:19:57,880 --> 00:19:59,800
Speaker 2: I'm sorry, but I had to prove a point there,

435
00:20:00,280 --> 00:20:02,840
Speaker 2: because this is what most happened, what happens to retirements.

436
00:20:02,880 --> 00:20:05,199
Speaker 2: They fall asleep thinking like, oh, I don't have to

437
00:20:05,240 --> 00:20:07,040
Speaker 2: worry about it, and then when they wake up, it's

438
00:20:07,040 --> 00:20:08,960
Speaker 2: the tax a bill that's ringing on you.

439
00:20:09,040 --> 00:20:11,280
Speaker 3: It's a tax time bomb. Come on, you got to

440
00:20:11,320 --> 00:20:12,120
Speaker 3: take this serious.

441
00:20:12,160 --> 00:20:14,119
Speaker 4: For me, that's just it. You know, it's not just

442
00:20:14,160 --> 00:20:16,280
Speaker 4: for us, it's for you because you need to know.

443
00:20:16,320 --> 00:20:18,320
Speaker 4: And that's why we get so passionate about this because

444
00:20:18,760 --> 00:20:21,600
Speaker 4: you know, when people come in, they have their retirement

445
00:20:22,080 --> 00:20:25,520
Speaker 4: and cruise control. Supposedly, they have an advisor that they've

446
00:20:25,520 --> 00:20:28,240
Speaker 4: been with. Meanwhile, they're just doing investments. They don't do

447
00:20:28,240 --> 00:20:31,760
Speaker 4: any tax planning or income planning or state planning, and

448
00:20:31,800 --> 00:20:34,080
Speaker 4: they just deal with their accounts and they have piles

449
00:20:34,119 --> 00:20:36,600
Speaker 4: of money and they just go along for the ride.

450
00:20:36,640 --> 00:20:39,480
Speaker 4: And you know, every time they meet with their advisor,

451
00:20:39,520 --> 00:20:42,159
Speaker 4: then we'll maybe change some things up. And that's just

452
00:20:42,240 --> 00:20:45,600
Speaker 4: the boring way I mean, that's just you deserve so

453
00:20:45,680 --> 00:20:48,359
Speaker 4: much better. Think about this. You've saved for so long,

454
00:20:48,440 --> 00:20:52,639
Speaker 4: you worked so hard, right, take action steps now to

455
00:20:52,640 --> 00:20:56,280
Speaker 4: protect your retirement from not only rising taxes, but from

456
00:20:56,840 --> 00:20:59,920
Speaker 4: investment risk and income risk and interest rate risk and

457
00:21:00,640 --> 00:21:03,159
Speaker 4: state planning. Making sure that everything stays in your family.

458
00:21:03,240 --> 00:21:04,960
Speaker 4: My gosh, I mean, this is the stuff that you

459
00:21:05,040 --> 00:21:07,840
Speaker 4: should be doing now. If you're listening today and you

460
00:21:07,840 --> 00:21:10,399
Speaker 4: have any questions about retirement or should I get a

461
00:21:10,400 --> 00:21:13,280
Speaker 4: second opinion? Yeah, absolutely, pick up the phone. Schedule time

462
00:21:13,280 --> 00:21:16,000
Speaker 4: to meet with us. Eight three three Maggie Tax. There's

463
00:21:16,000 --> 00:21:19,200
Speaker 4: so much information on our website, Maggie tax dot com

464
00:21:19,200 --> 00:21:21,440
Speaker 4: to help you. You know, do you have an income plan?

465
00:21:21,800 --> 00:21:24,120
Speaker 4: If not, we can help. Do you have an investment plan?

466
00:21:24,720 --> 00:21:26,879
Speaker 4: If not, we can help. If you do you have

467
00:21:26,920 --> 00:21:30,119
Speaker 4: an estate plan? Well, if not, then why aren't you

468
00:21:30,200 --> 00:21:31,000
Speaker 4: thinking about these things?

469
00:21:31,080 --> 00:21:31,320
Speaker 3: Right?

470
00:21:31,480 --> 00:21:36,040
Speaker 4: What about beneficiary forms? What about taxes? And what about

471
00:21:36,080 --> 00:21:38,479
Speaker 4: income in the most tax efficient way. We have clients

472
00:21:38,480 --> 00:21:40,359
Speaker 4: that are receiving over one hundred thousand dollars a year

473
00:21:40,359 --> 00:21:43,119
Speaker 4: and not paying a diamond tax. How well, because we

474
00:21:43,160 --> 00:21:45,159
Speaker 4: do bucket planning and we can show them how to

475
00:21:45,680 --> 00:21:48,600
Speaker 4: get the income from the most tax efficient way. If

476
00:21:48,600 --> 00:21:51,200
Speaker 4: you don't have these resources, then pick up the phone

477
00:21:51,240 --> 00:21:53,200
Speaker 4: schedule time to meet with us. Eight three to three

478
00:21:53,400 --> 00:21:54,200
Speaker 4: MAGI tax.

479
00:21:54,400 --> 00:21:56,959
Speaker 2: So if you'l worried about paying high taxes in retirement,

480
00:21:57,040 --> 00:21:59,639
Speaker 2: let me give you a quick digtail here of what

481
00:21:59,680 --> 00:22:00,600
Speaker 2: we did for a client.

482
00:22:00,920 --> 00:22:03,040
Speaker 3: John and Lisa, one of our clients. I'm just using

483
00:22:03,080 --> 00:22:03,640
Speaker 3: their first name.

484
00:22:03,720 --> 00:22:05,800
Speaker 2: They came in to us and they were worried about

485
00:22:05,920 --> 00:22:09,800
Speaker 2: rising taxes eating into their retirement. They're actually losing sleep

486
00:22:09,840 --> 00:22:11,359
Speaker 2: over it and they don't know what to do. So

487
00:22:11,440 --> 00:22:13,440
Speaker 2: after hearing what Chris and I talk about every week

488
00:22:13,440 --> 00:22:16,040
Speaker 2: on the show and going to the website to do

489
00:22:16,160 --> 00:22:19,399
Speaker 2: the retirement tax bill, they realized, oh my, I have

490
00:22:19,480 --> 00:22:22,960
Speaker 2: a big problem. So they finally understood how roth conversions

491
00:22:23,000 --> 00:22:26,920
Speaker 2: could give them tax free income for life. I'll repeat that,

492
00:22:27,280 --> 00:22:30,040
Speaker 2: tax free income for life. And that's the power of

493
00:22:30,080 --> 00:22:33,600
Speaker 2: planning ahead. So if you want that same clarity, come

494
00:22:33,640 --> 00:22:36,359
Speaker 2: talk to Chris and I Maggie Tax and Wealth advisors.

495
00:22:36,760 --> 00:22:38,240
Speaker 3: Sit down, keep an open mind.

496
00:22:38,320 --> 00:22:40,119
Speaker 2: Let's show you the illustration, and here's the word I

497
00:22:40,160 --> 00:22:44,240
Speaker 2: want you to remember. Strategic. Strategic. The way we do

498
00:22:44,320 --> 00:22:46,840
Speaker 2: it is maybe over five years or seven years, and

499
00:22:47,000 --> 00:22:48,840
Speaker 2: when you look at the report, you'll see, oh my no,

500
00:22:49,000 --> 00:22:52,680
Speaker 2: I could do this, Chris, and there are always confused,

501
00:22:52,720 --> 00:22:56,800
Speaker 2: like how come my advisor doesn't tell me about this?

502
00:22:57,119 --> 00:23:00,240
Speaker 2: Because Chris mentioned it before. Most advisors tell you to

503
00:23:00,280 --> 00:23:02,880
Speaker 2: do what go see your tax advis And I want

504
00:23:02,880 --> 00:23:05,880
Speaker 2: to say this to do many CPAs they know this,

505
00:23:06,000 --> 00:23:08,480
Speaker 2: but they don't tell you. So if they're not doing

506
00:23:08,520 --> 00:23:11,240
Speaker 2: tax planning. And I challenge if there's any CPAs out

507
00:23:11,280 --> 00:23:13,800
Speaker 2: there listening, call me. I'll show you how you can

508
00:23:13,840 --> 00:23:16,960
Speaker 2: help your clients and make them happier and not just

509
00:23:17,040 --> 00:23:18,199
Speaker 2: worry about paying taxes.

510
00:23:18,240 --> 00:23:19,840
Speaker 4: Isn't that right card, That's just it. You know. We

511
00:23:19,880 --> 00:23:23,280
Speaker 4: talked about this last show is tax preparation is old

512
00:23:23,680 --> 00:23:28,240
Speaker 4: past reporting. Tax planning is thinking the future, thinking about

513
00:23:28,359 --> 00:23:30,720
Speaker 4: the future and what's ahead. And that's what we do.

514
00:23:31,119 --> 00:23:34,320
Speaker 4: Tax planning, income planning, investment planning. We incorporate it at

515
00:23:34,320 --> 00:23:38,120
Speaker 4: all and why because we believe that's the road to success.

516
00:23:38,119 --> 00:23:40,280
Speaker 4: We talked about the last segment is when you want

517
00:23:40,320 --> 00:23:42,239
Speaker 4: to be on the highway where it's not a lot

518
00:23:42,280 --> 00:23:45,560
Speaker 4: of traffic, your cruise and cruise control windows are down

519
00:23:45,760 --> 00:23:48,639
Speaker 4: hanging out. Everything is good, no problem, or would you

520
00:23:48,720 --> 00:23:50,800
Speaker 4: rather be in traffic. Would you rather be bumping a

521
00:23:50,840 --> 00:23:55,000
Speaker 4: bumper and it's raining and you're dealing with disturbed drivers?

522
00:23:55,560 --> 00:23:57,040
Speaker 4: You don't want to be there? Well, that's if you

523
00:23:57,080 --> 00:23:58,720
Speaker 4: have an ira A form OK, and you don't have

524
00:23:58,760 --> 00:24:01,840
Speaker 4: your financial plan put together. That's the road. You're on

525
00:24:01,880 --> 00:24:04,560
Speaker 4: the highway. Get off that road. Just get on the exit,

526
00:24:04,600 --> 00:24:06,439
Speaker 4: pick up the phone, schedule the time to meet with us.

527
00:24:06,440 --> 00:24:09,000
Speaker 4: It's that simple. Get off and give us a call

528
00:24:09,080 --> 00:24:10,080
Speaker 4: eight three three Maggie.

529
00:24:10,160 --> 00:24:10,400
Speaker 3: Tax.

530
00:24:10,400 --> 00:24:13,639
Speaker 4: Because we talked about strategies and you need to do

531
00:24:14,080 --> 00:24:17,720
Speaker 4: take strategic action now while the window is open, and

532
00:24:17,760 --> 00:24:20,280
Speaker 4: the window is wide open, but not for long. That's

533
00:24:20,320 --> 00:24:23,360
Speaker 4: why we do strategic wrath conversions. We move money from

534
00:24:23,400 --> 00:24:27,119
Speaker 4: tax later accounts to tax now at known rates and

535
00:24:27,240 --> 00:24:30,080
Speaker 4: we can specifically dial in on the tax rate today.

536
00:24:30,320 --> 00:24:31,560
Speaker 4: How much you want to pay in tax? Do you

537
00:24:31,600 --> 00:24:33,159
Speaker 4: want to pay fifteen percent? Do you want to be

538
00:24:33,200 --> 00:24:34,879
Speaker 4: eighteen percent? Do you want to pay twenty four percent?

539
00:24:35,080 --> 00:24:38,200
Speaker 4: You could dictate that today, but in the future when

540
00:24:38,400 --> 00:24:41,720
Speaker 4: when you can't, that's when you're held. You don't want

541
00:24:41,720 --> 00:24:44,280
Speaker 4: to be in that situation. So that's why timing matters.

542
00:24:44,600 --> 00:24:48,920
Speaker 4: Converting in low tax years can save retirees enormous amounts.

543
00:24:48,960 --> 00:24:50,120
Speaker 3: Long term, you know.

544
00:24:50,080 --> 00:24:52,320
Speaker 4: You can reduce your future RMD as the key and

545
00:24:52,359 --> 00:24:54,800
Speaker 4: how do you do that? Well, when you are forced

546
00:24:54,800 --> 00:24:57,560
Speaker 4: to take less income because you don't have to take

547
00:24:57,760 --> 00:25:01,160
Speaker 4: it from your require minimum a huge ir that means

548
00:25:01,200 --> 00:25:04,280
Speaker 4: saving taxes over your lifetime is what you want eight

549
00:25:04,320 --> 00:25:05,600
Speaker 4: three three Maggie tax.

550
00:25:05,760 --> 00:25:07,639
Speaker 2: So let me kind of recap a couple things for

551
00:25:07,720 --> 00:25:09,880
Speaker 2: you that we discussed today and you can write these down.

552
00:25:10,320 --> 00:25:14,560
Speaker 3: The key word strategic wroth conversions. What is that? Okay?

553
00:25:14,560 --> 00:25:17,480
Speaker 2: As your advisor, a CPA or tax person talking about

554
00:25:17,720 --> 00:25:19,679
Speaker 2: strategic wroth conversions?

555
00:25:19,680 --> 00:25:21,680
Speaker 3: Oh my goodness. What about timing?

556
00:25:22,240 --> 00:25:25,000
Speaker 2: The biggest question is when should we do a Wroth conversion, Chris,

557
00:25:25,040 --> 00:25:27,200
Speaker 2: And the thing is timing. And again we can show

558
00:25:27,240 --> 00:25:29,560
Speaker 2: you from the report that we do, the Rothology report.

559
00:25:30,080 --> 00:25:33,600
Speaker 2: What about reducing future rm ds? Does your tax person

560
00:25:34,080 --> 00:25:36,960
Speaker 2: talk about that? Does the advisor talk about rm ds?

561
00:25:37,040 --> 00:25:37,119
Speaker 4: No?

562
00:25:37,640 --> 00:25:39,439
Speaker 2: What happens is when you're seventy three, that's when the

563
00:25:39,480 --> 00:25:41,800
Speaker 2: door opens and you got to take Wow, look what

564
00:25:41,920 --> 00:25:43,240
Speaker 2: I got to take out. I got to take out

565
00:25:43,240 --> 00:25:45,960
Speaker 2: fifty sixty thousand dollars now for the rest of my life.

566
00:25:45,960 --> 00:25:48,080
Speaker 2: And it goes on my tax return. Here's a big

567
00:25:48,080 --> 00:25:51,400
Speaker 2: one for you. What about tax buckets? What the heck

568
00:25:51,480 --> 00:25:52,360
Speaker 2: is tax buckets?

569
00:25:52,440 --> 00:25:52,720
Speaker 3: Chris?

570
00:25:53,040 --> 00:25:56,199
Speaker 2: And diversification. This is why we do this show. What

571
00:25:56,320 --> 00:25:57,879
Speaker 2: are you trying to get out of listening to the

572
00:25:57,920 --> 00:26:00,480
Speaker 2: Maggie Tax and Financial Show? And Chris, I think we've

573
00:26:00,560 --> 00:26:03,520
Speaker 2: just did it in a couple four words, because you

574
00:26:03,560 --> 00:26:05,680
Speaker 2: can't remember everything. But if you can remember a couple

575
00:26:05,760 --> 00:26:08,000
Speaker 2: of these things, it's going to help you understand why

576
00:26:08,560 --> 00:26:10,840
Speaker 2: why you need to sit down do tax planning.

577
00:26:10,600 --> 00:26:12,720
Speaker 4: Not only just tax planning, but income planning. We have

578
00:26:12,800 --> 00:26:17,080
Speaker 4: income buckets. What about your investments? We have investment buckets?

579
00:26:17,240 --> 00:26:21,040
Speaker 4: What about taxes? We have tax buckets for diversification. It

580
00:26:21,080 --> 00:26:24,120
Speaker 4: gives you power. You want tax deferred accounts, you want

581
00:26:24,160 --> 00:26:27,439
Speaker 4: tax free, you want some taxable so you decide where

582
00:26:27,480 --> 00:26:31,320
Speaker 4: your income can come from. That's called a distribution plan.

583
00:26:31,960 --> 00:26:35,600
Speaker 4: Do you have a distribution plan in your retirement years?

584
00:26:36,800 --> 00:26:39,560
Speaker 4: And if you don't, it's simple. You pick up the phone,

585
00:26:39,560 --> 00:26:42,480
Speaker 4: get off the exit eight three three, Maggie Tax give

586
00:26:42,520 --> 00:26:44,800
Speaker 4: us a call. And why are so passionate about this?

587
00:26:44,840 --> 00:26:48,080
Speaker 4: Because I'm tired of seeing during tax season where people

588
00:26:48,080 --> 00:26:50,680
Speaker 4: come in they have no income plan. They're paying more

589
00:26:50,680 --> 00:26:54,600
Speaker 4: in taxes. They are investments, they just it's causing more

590
00:26:54,600 --> 00:26:58,439
Speaker 4: in taxes than the normal. There are tax advantage strategies.

591
00:26:58,440 --> 00:27:00,800
Speaker 4: If you have a non qualified account, well that you

592
00:27:00,800 --> 00:27:02,879
Speaker 4: can you have a whole team watching it on a

593
00:27:02,920 --> 00:27:06,120
Speaker 4: tax favored basis. Why would you not want that, well,

594
00:27:06,200 --> 00:27:08,520
Speaker 4: because you just don't know. That's the difference when you

595
00:27:08,560 --> 00:27:11,240
Speaker 4: go to your advisor, who might be transactional, and he's

596
00:27:11,240 --> 00:27:14,359
Speaker 4: saying that, you know, this is what we earned last year. Yeah,

597
00:27:13,280 --> 00:27:16,720
Speaker 4: it's it's not a big deal when you have to

598
00:27:16,720 --> 00:27:18,960
Speaker 4: pay taxes, right, It's not that good when you got

599
00:27:18,960 --> 00:27:21,600
Speaker 4: to pay taxes. So today's tax rates are some of

600
00:27:21,600 --> 00:27:25,280
Speaker 4: the lowest and modern history. Many experts believe that they'll

601
00:27:25,280 --> 00:27:28,160
Speaker 4: never be this low again. So what's your plan? What's

602
00:27:28,200 --> 00:27:31,040
Speaker 4: your tax plan? If you don't have one week and

603
00:27:31,119 --> 00:27:33,359
Speaker 4: help pick up the phone, schedule time to meet with us.

604
00:27:33,480 --> 00:27:35,840
Speaker 4: Eight three to three Maggie tax. That's eight three to

605
00:27:35,840 --> 00:27:37,720
Speaker 4: three Magie tax. Now.

606
00:27:38,119 --> 00:27:38,760
Speaker 3: I feel so.

607
00:27:38,720 --> 00:27:40,720
Speaker 2: Bad for a lot of the people out listening to

608
00:27:40,760 --> 00:27:45,920
Speaker 2: the show because they were never taught about tax planning.

609
00:27:46,400 --> 00:27:49,520
Speaker 2: They were never explained about the required minimum distribution, and

610
00:27:49,560 --> 00:27:52,960
Speaker 2: so many people say DMR and whatever, because that tells

611
00:27:53,040 --> 00:27:55,720
Speaker 2: us they don't know. But remember something, you work so

612
00:27:55,760 --> 00:27:58,800
Speaker 2: hard forty years, whatever it is, you work so hard,

613
00:27:58,840 --> 00:28:01,719
Speaker 2: you saved in this account, and you're thinking, Wow, when

614
00:28:01,760 --> 00:28:03,960
Speaker 2: I retire, Chris is going to be great. I'm going

615
00:28:04,000 --> 00:28:07,040
Speaker 2: to have more money in retirement and less tax to pay.

616
00:28:07,080 --> 00:28:09,720
Speaker 2: And that's not the case because remember what I said before.

617
00:28:10,200 --> 00:28:13,439
Speaker 2: If you have a tax deferred account and IRA four

618
00:28:13,480 --> 00:28:16,800
Speaker 2: oh one K four oh three b a TSP, those

619
00:28:16,880 --> 00:28:20,840
Speaker 2: accounts are all a tax time bomb. And we can

620
00:28:20,840 --> 00:28:22,119
Speaker 2: prove it to you when you commit you know what,

621
00:28:22,200 --> 00:28:24,320
Speaker 2: you have nothing to lose. You have nothing to lose.

622
00:28:24,359 --> 00:28:26,159
Speaker 2: Let us run the report, let us sit down with you,

623
00:28:26,359 --> 00:28:28,399
Speaker 2: and you owe us nothing. But I will tell you

624
00:28:28,440 --> 00:28:30,040
Speaker 2: this that one thing that's going to happen is that

625
00:28:30,080 --> 00:28:31,919
Speaker 2: once we show it to you and Chris, you can

626
00:28:32,160 --> 00:28:34,280
Speaker 2: you can attest to this that when people come in

627
00:28:34,320 --> 00:28:35,480
Speaker 2: and they comme in with well, I'm not going to

628
00:28:35,560 --> 00:28:37,479
Speaker 2: do anything, it's only because they didn't know what they

629
00:28:37,520 --> 00:28:40,120
Speaker 2: didn't know. And that's where you and I sit down

630
00:28:40,120 --> 00:28:41,320
Speaker 2: and say, look, now, what are you going to do?

631
00:28:41,360 --> 00:28:44,640
Speaker 2: Because they tell us you tell us I've never seen

632
00:28:44,680 --> 00:28:45,800
Speaker 2: that before. Now what do I do?

633
00:28:46,040 --> 00:28:47,360
Speaker 4: I said, they're looking for answers.

634
00:28:47,400 --> 00:28:47,560
Speaker 3: Right.

635
00:28:47,560 --> 00:28:51,120
Speaker 4: The earlier plan, the more you can save. Delaying reduces

636
00:28:51,320 --> 00:28:53,840
Speaker 4: your options. So what are you doing about it? This

637
00:28:53,960 --> 00:28:57,120
Speaker 4: is your money, you know, not your advisors, not your CPA's,

638
00:28:57,240 --> 00:29:00,160
Speaker 4: it's yours. What type of plan do you have of

639
00:29:00,760 --> 00:29:04,720
Speaker 4: because imagine saving tens of thousands of dollars just by

640
00:29:04,760 --> 00:29:08,760
Speaker 4: taking action now instead of waiting for taxes to rise.

641
00:29:09,040 --> 00:29:11,640
Speaker 4: Just imagine that. My dad mentioned that early on the show,

642
00:29:12,200 --> 00:29:15,240
Speaker 4: close your eyes right, Well, don't do that if you're driving, right.

643
00:29:15,360 --> 00:29:17,800
Speaker 4: But at the end of the day, those who plan win,

644
00:29:18,200 --> 00:29:22,720
Speaker 4: those who wait will pay. And that's your chance to

645
00:29:22,880 --> 00:29:25,640
Speaker 4: plan is right now. So pick up the phone, schedule

646
00:29:25,680 --> 00:29:27,840
Speaker 4: time to meet with us. If you want an income plan,

647
00:29:27,920 --> 00:29:30,000
Speaker 4: we can help. If you want an investment plan, we

648
00:29:30,040 --> 00:29:32,560
Speaker 4: can help. If you want a tax plan, we can help.

649
00:29:32,800 --> 00:29:35,280
Speaker 4: If you want a state plan, we can help. If

650
00:29:35,320 --> 00:29:37,760
Speaker 4: you want a Social Security maximization plan on the best

651
00:29:37,760 --> 00:29:40,640
Speaker 4: time to turn on social Security, we can help. If

652
00:29:40,640 --> 00:29:42,480
Speaker 4: you want a legacy plan, you want to leave as

653
00:29:42,560 --> 00:29:45,720
Speaker 4: much tax free money to your spouse and to your kids.

654
00:29:46,080 --> 00:29:47,240
Speaker 4: And a lot of people don't want to leave money

655
00:29:47,240 --> 00:29:48,000
Speaker 4: the kid, They wan't leave to.

656
00:29:48,040 --> 00:29:48,480
Speaker 3: The grand kids.

657
00:29:48,520 --> 00:29:51,160
Speaker 4: I'm not leaving my money, but how do you leave

658
00:29:51,160 --> 00:29:53,200
Speaker 4: it to the grandkids on the most tax division way

659
00:29:53,280 --> 00:29:56,840
Speaker 4: give them a hand up as opposed to a handout.

660
00:29:56,920 --> 00:29:59,240
Speaker 4: So these are things we talk about each and every day,

661
00:29:59,280 --> 00:30:02,360
Speaker 4: So visit our website Maggie Tax dot com give us

662
00:30:02,360 --> 00:30:05,640
Speaker 4: a call eight three three Maggie Tax, because next we're

663
00:30:05,680 --> 00:30:07,880
Speaker 4: opening up the door for you an opportunity that could

664
00:30:07,960 --> 00:30:11,960
Speaker 4: change the course of your retirement, and you don't want

665
00:30:12,000 --> 00:30:15,160
Speaker 4: to miss this A three three Maggie Tax. Visit our

666
00:30:15,160 --> 00:30:17,480
Speaker 4: website at Maggie tax dot com and every Sunday on

667
00:30:17,560 --> 00:30:21,400
Speaker 4: ABCTV at ten thirty am for the Maggie Tax and

668
00:30:21,640 --> 00:30:25,120
Speaker 4: Financial Show thirty minute educational event to help you on

669
00:30:25,240 --> 00:30:27,880
Speaker 4: so many different things. So we're opening door for you

670
00:30:27,920 --> 00:30:30,480
Speaker 4: an opportunity that could change the course of your retirement.

671
00:30:30,560 --> 00:30:34,280
Speaker 4: You don't want to miss this eight three three Maggie Tax.

672
00:30:37,760 --> 00:30:41,320
Speaker 1: Stop funding Uncle Sam's retirement and start planning for your

673
00:30:41,360 --> 00:30:44,840
Speaker 1: own successful retirement. As we return to the Maggie Tax

674
00:30:44,880 --> 00:30:48,240
Speaker 1: Financial Show with your host Robert and Chris Maggie with

675
00:30:48,360 --> 00:30:51,520
Speaker 1: Maggie Tax and Wealth Advisors. For information on how you

676
00:30:51,560 --> 00:30:55,160
Speaker 1: can create a tax free retirement. Call eight three three

677
00:30:55,560 --> 00:30:59,800
Speaker 1: Maggie Tax or visit Maggie tax dot com. Now you're

678
00:30:59,800 --> 00:31:02,719
Speaker 1: host host with Maggie Tax and Wealth advisors Robert and

679
00:31:02,840 --> 00:31:03,720
Speaker 1: Chris Maggie.

680
00:31:04,200 --> 00:31:06,720
Speaker 4: Thank you tuning into the Maggie Tax and Financial Show

681
00:31:06,800 --> 00:31:09,920
Speaker 4: and welcome dam Babay. I'm Chris Maggie, and we appreciate

682
00:31:09,960 --> 00:31:12,800
Speaker 4: you tuning in because education is so important. You want

683
00:31:12,840 --> 00:31:15,240
Speaker 4: to make sure that you know what you know so

684
00:31:15,280 --> 00:31:18,160
Speaker 4: you can make the right decisions moving forward. So we

685
00:31:18,280 --> 00:31:21,480
Speaker 4: talked about taxes and rising taxes today and how you

686
00:31:21,480 --> 00:31:23,400
Speaker 4: should have a financial plan and how do you put

687
00:31:23,400 --> 00:31:26,360
Speaker 4: it together. It needs to consist of income planning, tax planning,

688
00:31:26,440 --> 00:31:30,400
Speaker 4: investment planning. All those things integrate into one your plan.

689
00:31:30,920 --> 00:31:33,720
Speaker 4: If everything we covered today has made you wonder what

690
00:31:33,840 --> 00:31:37,080
Speaker 4: rising taxes could mean for your retirement, then this is

691
00:31:37,120 --> 00:31:40,719
Speaker 4: your moment. You don't need fear, You need clarity, you know,

692
00:31:40,760 --> 00:31:43,320
Speaker 4: and we're offer that clarity right now. So pick up

693
00:31:43,320 --> 00:31:46,160
Speaker 4: the phone schedule of time to meet with us, because

694
00:31:46,200 --> 00:31:49,719
Speaker 4: the retirement taxes check up offer is right here. What

695
00:31:49,720 --> 00:31:52,160
Speaker 4: does that mean? That means that we can sit down

696
00:31:52,240 --> 00:31:55,320
Speaker 4: with you, look at your accounts, determine what's taxable, what's

697
00:31:55,360 --> 00:31:58,640
Speaker 4: non taxable. We talked about the highway throughout today's show.

698
00:31:58,920 --> 00:32:01,400
Speaker 4: You know you on that that that highway where your

699
00:32:01,400 --> 00:32:04,240
Speaker 4: cruising down is traffic. Everyone's mad at one another because

700
00:32:04,240 --> 00:32:06,680
Speaker 4: everyone's cutting everyone off, and the weather's raining and it's

701
00:32:06,720 --> 00:32:08,960
Speaker 4: not good. And guess what do you want to be

702
00:32:09,040 --> 00:32:11,920
Speaker 4: on that road? No, but you can get off the exit.

703
00:32:12,200 --> 00:32:15,640
Speaker 4: You get onto the different road and different highway where

704
00:32:15,680 --> 00:32:18,600
Speaker 4: it's sunny, it's nice, it's your own crewise control, there's

705
00:32:18,600 --> 00:32:22,520
Speaker 4: no traffic. That is a beautiful road to drive on.

706
00:32:22,640 --> 00:32:24,960
Speaker 4: And you can ride that road in retirement as well.

707
00:32:25,040 --> 00:32:27,800
Speaker 4: So we're offering you to get the clarity and we

708
00:32:27,840 --> 00:32:29,920
Speaker 4: can help eight three to three Maggie tax. That's eight

709
00:32:30,000 --> 00:32:31,320
Speaker 4: three to three Maggie tax.

710
00:32:31,600 --> 00:32:34,000
Speaker 2: Let me throw something else out there that a lot

711
00:32:34,040 --> 00:32:37,000
Speaker 2: of people when they come in for taxes, Chris, they

712
00:32:37,040 --> 00:32:37,400
Speaker 2: ask us.

713
00:32:37,440 --> 00:32:38,280
Speaker 3: I'll give you an example.

714
00:32:38,720 --> 00:32:42,560
Speaker 2: We had a client come in last year and he said,

715
00:32:42,600 --> 00:32:45,680
Speaker 2: can you do a future projection for us on taxes?

716
00:32:46,280 --> 00:32:47,000
Speaker 3: So we said yeah.

717
00:32:47,040 --> 00:32:49,320
Speaker 2: So he said, well, here's my income this year and

718
00:32:49,360 --> 00:32:51,360
Speaker 2: he said to me, Bobby, I think I'm going to

719
00:32:51,440 --> 00:32:52,640
Speaker 2: make this next year.

720
00:32:53,240 --> 00:32:55,280
Speaker 3: So we did a future or forecast.

721
00:32:54,800 --> 00:32:58,040
Speaker 2: For them, and we kind of showed him what his

722
00:32:58,120 --> 00:32:59,600
Speaker 2: tax bracket was going to be and how much he

723
00:32:59,600 --> 00:33:02,720
Speaker 2: had it with. So the problem was he comes back

724
00:33:02,720 --> 00:33:05,120
Speaker 2: in this year and he gets a little frustrated. He said, guys,

725
00:33:05,160 --> 00:33:08,680
Speaker 2: you did it wrong. What do we do wrong? He said, well,

726
00:33:09,120 --> 00:33:11,760
Speaker 2: I did what you said on this tax projection and

727
00:33:11,800 --> 00:33:13,840
Speaker 2: it's wrong. And I said, well, let's take a look

728
00:33:13,880 --> 00:33:16,200
Speaker 2: at it. So what he didn't tell us is that

729
00:33:16,240 --> 00:33:19,720
Speaker 2: the projections she gave us were low and he actually

730
00:33:19,760 --> 00:33:24,000
Speaker 2: made one hundred thousand more. So right there in front

731
00:33:24,040 --> 00:33:26,920
Speaker 2: of him was if you make more money, then.

732
00:33:26,840 --> 00:33:29,880
Speaker 3: You have to withhold more. So we weren't wrong in

733
00:33:29,960 --> 00:33:31,200
Speaker 3: the projections. He was wrong.

734
00:33:31,200 --> 00:33:33,760
Speaker 2: And what he told us Chris and he started to

735
00:33:33,800 --> 00:33:36,160
Speaker 2: realize he was embarrassed because he said, I know you

736
00:33:36,200 --> 00:33:38,920
Speaker 2: guys do taxes. I know you do projections, but you know,

737
00:33:38,960 --> 00:33:40,280
Speaker 2: I figured i'd give you the right one.

738
00:33:40,280 --> 00:33:42,440
Speaker 3: But he made more money. What's wrong with that?

739
00:33:42,840 --> 00:33:44,200
Speaker 4: That's just it. You know, you don't know what you

740
00:33:44,240 --> 00:33:47,240
Speaker 4: don't know, And that's why during retirement, and if you're

741
00:33:47,400 --> 00:33:49,640
Speaker 4: leading up to retirement, you definitely want to get a

742
00:33:49,760 --> 00:33:52,560
Speaker 4: plan together. You want that clarity. You don't want the fear.

743
00:33:53,000 --> 00:33:54,800
Speaker 4: You know, you don't need fear. You need clarity, and

744
00:33:54,920 --> 00:33:57,720
Speaker 4: we talked about this, so the retirement tax checkup that

745
00:33:57,960 --> 00:34:00,320
Speaker 4: when we do it will show you how rising taxis

746
00:34:00,320 --> 00:34:03,560
Speaker 4: will affect you year by year. It's really nice when

747
00:34:03,600 --> 00:34:06,000
Speaker 4: we lay this out because you'll see. But a client

748
00:34:06,360 --> 00:34:08,880
Speaker 4: just the other day said, you know, I'm thinking about converting.

749
00:34:08,880 --> 00:34:10,640
Speaker 4: I have three hundred and seventy thousand dollars. I want

750
00:34:10,640 --> 00:34:12,759
Speaker 4: to convert it to the ROTH and they wanted to

751
00:34:12,840 --> 00:34:14,239
Speaker 4: rip off the band they didn't pay the tax, and

752
00:34:14,280 --> 00:34:16,160
Speaker 4: I said, well, you could do that, but then this

753
00:34:16,239 --> 00:34:17,680
Speaker 4: is the tax bracket you're going to be in, and

754
00:34:17,680 --> 00:34:19,319
Speaker 4: this is what you're going to pay an ERMA, the

755
00:34:19,320 --> 00:34:21,640
Speaker 4: Medicare tax. But what if you did it this way?

756
00:34:21,760 --> 00:34:24,640
Speaker 4: That's an A option? What about a B option? Then

757
00:34:24,640 --> 00:34:26,440
Speaker 4: I showed him what if we did like fifty thousand

758
00:34:26,440 --> 00:34:29,799
Speaker 4: dollars a year, stays under the different tax bracket, then

759
00:34:30,000 --> 00:34:33,440
Speaker 4: doesn't pay more in IERMA and pays lettons and taxes

760
00:34:33,440 --> 00:34:35,640
Speaker 4: over the years, And he said, I never thought about that,

761
00:34:35,880 --> 00:34:39,280
Speaker 4: but we showed him year by year. So we analyzed

762
00:34:39,280 --> 00:34:44,000
Speaker 4: your entire tax exposure, your future tax projections, your RMD impact,

763
00:34:44,400 --> 00:34:48,000
Speaker 4: your Social Security taxation, and what about this bracket creep

764
00:34:48,680 --> 00:34:51,200
Speaker 4: I'll talk about that. The bracket creep is you you

765
00:34:51,280 --> 00:34:54,000
Speaker 4: might be just creeping up to the next tax bracket,

766
00:34:54,040 --> 00:34:56,400
Speaker 4: and if you go over a dollar more, guess what

767
00:34:56,440 --> 00:34:58,440
Speaker 4: you're in a higher tax prik. So how do you

768
00:34:58,840 --> 00:35:01,759
Speaker 4: how do you creep in the right way? We can

769
00:35:01,760 --> 00:35:04,000
Speaker 4: show you eight three three Maggie Tax, Pick up the phone,

770
00:35:04,040 --> 00:35:05,480
Speaker 4: eight three to three, Maggie Tax.

771
00:35:05,560 --> 00:35:06,840
Speaker 3: Hey, what Chris is talking about?

772
00:35:06,960 --> 00:35:10,520
Speaker 2: You receive your own custom tax reduction roadmap because everyone

773
00:35:10,520 --> 00:35:14,120
Speaker 2: listening has a different story to tell. This analysis is

774
00:35:14,160 --> 00:35:16,560
Speaker 2: designed to lower your lifetime tax, will.

775
00:35:16,440 --> 00:35:18,839
Speaker 3: Not raise it, and there are ways that you can

776
00:35:18,840 --> 00:35:19,080
Speaker 3: do it.

777
00:35:19,160 --> 00:35:22,480
Speaker 2: I mentioned before about the rough account, about the Index

778
00:35:22,600 --> 00:35:24,920
Speaker 2: Universal Life, which is an account that many of you

779
00:35:24,960 --> 00:35:27,200
Speaker 2: should be thinking about, and will show you how that

780
00:35:27,239 --> 00:35:30,520
Speaker 2: works for younger people. It's great because then think about this.

781
00:35:30,640 --> 00:35:32,560
Speaker 2: The younger people don't have a pension, don't have a

782
00:35:32,600 --> 00:35:35,520
Speaker 2: retirement income. But when you set up an index universal

783
00:35:35,560 --> 00:35:38,080
Speaker 2: life and we can show you, guess what's going to happen? Chris,

784
00:35:38,120 --> 00:35:39,960
Speaker 2: you can talk about that because you did it for

785
00:35:40,040 --> 00:35:41,280
Speaker 2: your kids and you did it for yourself.

786
00:35:41,360 --> 00:35:43,640
Speaker 4: Ah. I mean, we have like five different buckets of this,

787
00:35:43,719 --> 00:35:46,759
Speaker 4: so guess what it's future tax freeing can become your

788
00:35:46,760 --> 00:35:48,640
Speaker 4: own bank. How do you do that? Well, we can

789
00:35:48,640 --> 00:35:50,800
Speaker 4: show you. That's what I'm talking about. It. It's not just

790
00:35:50,840 --> 00:35:52,839
Speaker 4: about you give the advice of the money and let

791
00:35:52,920 --> 00:35:56,400
Speaker 4: them grow it. That's anyone can do that, just a

792
00:35:56,400 --> 00:35:58,759
Speaker 4: pile of money. But what are the tax impacts on that?

793
00:35:59,120 --> 00:36:03,480
Speaker 4: You know, where's diversification, what's the income plan with that bucket?

794
00:36:03,520 --> 00:36:06,920
Speaker 4: What's your exit strategy? What are you doing about it?

795
00:36:07,000 --> 00:36:07,160
Speaker 3: Right?

796
00:36:07,239 --> 00:36:09,880
Speaker 4: So when you come to meet with us, you'll receive

797
00:36:09,880 --> 00:36:13,480
Speaker 4: your own custom tax reduction roadmap. This analysis designed to

798
00:36:13,600 --> 00:36:16,719
Speaker 4: lower your lifetime tax bill. Who would not want their

799
00:36:16,960 --> 00:36:19,480
Speaker 4: tax bill to be lowered if they just knew? You know,

800
00:36:19,520 --> 00:36:22,520
Speaker 4: the potential tax savings can be staggering, tens of thousands

801
00:36:22,600 --> 00:36:25,760
Speaker 4: or even more. But the window to act is closing.

802
00:36:26,560 --> 00:36:30,799
Speaker 4: Laws already have expiration dates built in. That's called legislative risk.

803
00:36:30,840 --> 00:36:33,640
Speaker 4: We talk about this legislative risks. They can change it.

804
00:36:34,160 --> 00:36:38,400
Speaker 4: Everything is in pencil. They call it permanent until it's changed.

805
00:36:38,640 --> 00:36:41,080
Speaker 4: So what are you doing about it? Now? Is the time?

806
00:36:41,280 --> 00:36:44,160
Speaker 4: So pick up the phone, schedule time to meet with us.

807
00:36:44,400 --> 00:36:48,880
Speaker 2: So the retirement tax checkup, it's completely complementary. There's no

808
00:36:49,000 --> 00:36:52,759
Speaker 2: cost there's no pressure, just clarity, and it's education. That's

809
00:36:52,800 --> 00:36:54,719
Speaker 2: what we're trying to do, and the chance to keep

810
00:36:54,760 --> 00:36:57,760
Speaker 2: more of your own money. So don't wait, don't wonder,

811
00:36:58,080 --> 00:37:00,759
Speaker 2: take action. Eight three to three mes Tax. Go to

812
00:37:00,800 --> 00:37:03,920
Speaker 2: our website, Maggie Tax dot com. And this is important

813
00:37:03,920 --> 00:37:06,520
Speaker 2: to all of you listening today, because join me next

814
00:37:06,600 --> 00:37:09,280
Speaker 2: week as we tackle the three biggest risks to every

815
00:37:09,360 --> 00:37:14,279
Speaker 2: retirement taxes, inflation, and market volatility. Today we covered most

816
00:37:14,320 --> 00:37:16,000
Speaker 2: of them, but we're going to keep covering this every

817
00:37:16,040 --> 00:37:18,640
Speaker 2: week and what you can do to protect yourself from

818
00:37:18,680 --> 00:37:19,040
Speaker 2: each one.

819
00:37:19,080 --> 00:37:19,840
Speaker 3: Because here's why.

820
00:37:20,239 --> 00:37:22,480
Speaker 2: If your advisor or tax prepair has not given you

821
00:37:22,520 --> 00:37:25,879
Speaker 2: options or strategies like we offer on this radio show,

822
00:37:26,360 --> 00:37:27,479
Speaker 2: please find someone else.

823
00:37:27,480 --> 00:37:28,040
Speaker 3: Give us a call.

824
00:37:28,080 --> 00:37:30,520
Speaker 2: We'll challenge everyone out there. We'll show you come in

825
00:37:30,560 --> 00:37:32,680
Speaker 2: and take a look. There's no cost, there's no obligation.

826
00:37:33,120 --> 00:37:36,360
Speaker 2: Eight three to three Maggie Tax. Visit our website Maggie

827
00:37:36,360 --> 00:37:38,719
Speaker 2: Tax dot com. There's a lot of information there, and

828
00:37:38,800 --> 00:37:42,560
Speaker 2: don't forget. Every Sunday at ten thirty am on ABCTV,

829
00:37:43,040 --> 00:37:45,600
Speaker 2: join us for the Maggie Tax and Financial Show. I

830
00:37:45,640 --> 00:37:48,520
Speaker 2: can't give you enough information on the phone or on

831
00:37:48,560 --> 00:37:50,520
Speaker 2: the radio. You have to come in and make an

832
00:37:50,520 --> 00:37:53,480
Speaker 2: appointment eight three to three Magi Tax eight three to

833
00:37:53,480 --> 00:37:56,319
Speaker 2: three Maggie Tax and Tell a friend and listening to

834
00:37:56,360 --> 00:37:58,920
Speaker 2: the Maggie Tax and Financial Show.

835
00:38:01,520 --> 00:38:04,359
Speaker 1: Thank you for listening to Maggie Tax and Financial Show

836
00:38:04,400 --> 00:38:08,160
Speaker 1: with Robert and Chris Maggie of Maggie Tax Wealth Advisors.

837
00:38:08,239 --> 00:38:11,560
Speaker 1: Listen here five to six pm every Saturday and from

838
00:38:11,600 --> 00:38:14,759
Speaker 1: eleven am till noon every Sunday, or anytime on the

839
00:38:14,800 --> 00:38:18,320
Speaker 1: free iHeartRadio app. And remember you can pay less tax

840
00:38:18,480 --> 00:38:22,319
Speaker 1: with Maggie Tax Program. Content provided by Maggie Tax Wealth

841
00:38:22,360 --> 00:38:25,720
Speaker 1: and Advisors. Call them at eight three three Maggie Tax

842
00:38:25,920 --> 00:38:31,080
Speaker 1: or visit them online at Maggietax dot com