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

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

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Speaker 1: that is living it up when you retire by taxing

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

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

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Speaker 1: and Wealth Advisors. With over four decades of combined experience

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

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

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Speaker 1: your retirement next day from Uncle Sam.

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Speaker 2: 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 3: Welcome to the Maggie Tax and Wealth Advisors Show, and

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Speaker 3: this is the program where common sense planning meets real

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Speaker 3: world retirement success.

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Speaker 2: Welcome everyone. I'm Chris Maggan.

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Speaker 3: I'm here with my dad and coast of the show

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Speaker 3: Robert Maggie and feel fear to visit our website, Maggie

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Speaker 3: Tax dot com. There's so much information right there at

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Speaker 3: your fingertips eight three three Maggie Tax Pick Up the phone,

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Speaker 3: schedule time to meet with us. We have offics on

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Speaker 3: both sides of the bay. So whether you're driving, you're cooking,

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Speaker 3: you walking the dog, or even maybe you're hiding from

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Speaker 3: the bills or maybe hiding from doing your taxes, don't worry.

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Speaker 3: You're in the right place. This is the show where

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Speaker 3: we take the complicated, confusing world of taxes and retirement

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Speaker 3: and we break it down so clearly that even your

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Speaker 3: cousin Eddie could understand it. So welcome everyone. I'm Chris Maggie,

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Speaker 3: and I welcome my dad coast of the show, Robert Maggie.

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Speaker 2: Welcome everyone, and thanks for joining us today. And I'm

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Speaker 2: here with my son Chris and I am Robert Maggie.

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Speaker 2: So today we have a lot that we're going to

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Speaker 2: talk about. We've got a powerhouse of a show lined up,

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Speaker 2: so get some paper and pencil and start taking notes.

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Speaker 2: There's a lot of good things here because like it

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Speaker 2: or not, the financial landscape is shifting underneath us, and

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Speaker 2: slowly for some of us and very quickly for others.

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Speaker 3: We're entering a moment where timing matters, strategy matters, and yes,

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Speaker 3: taxes matter more than ever before. So here's whe we're

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Speaker 3: going to dive in today. I'm going to talk about

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Speaker 3: rothology and many people out there really have no idea

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Speaker 3: how to get from taxable buckets to tax free. So

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Speaker 3: a smarter, more intentional way to build a tax free

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Speaker 3: income stream that can last you the rest of your life,

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Speaker 3: and we can do that. We can show you how

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Speaker 3: that works. No surprises, no last minute tax bills, no

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Speaker 3: donating half of your retirement to Uncle Sam. Because retiring

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Speaker 3: tax free is the way to go, and most advisors

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Speaker 3: just don't know how to get there. You need to

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Speaker 3: have a plan to get there. So that's what we're

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Speaker 3: first going to dive into. Second, we're going to talk

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Speaker 3: about solid security maximization. Many people talk about when's the

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Speaker 3: best time to take it? When should I take it?

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Speaker 3: They've done the analysis, they haven't, They don't know. They

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Speaker 3: just get this pdf showing values and when they can

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Speaker 3: get when they take it at certain ages. What does

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Speaker 3: that really mean to you? So we'll dive into that,

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Speaker 3: and we'll also talk about retirement income sequencing. And this

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Speaker 3: is so important because the order you pull money from

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Speaker 3: your accounts and retirement can mean paying more in taxes

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Speaker 3: or paying less in taxes. So it sounds simple, but

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Speaker 3: like as I mentioned, getting it wrong could accidentally shrink

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Speaker 3: your nest egg by years. You can run out of money,

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Speaker 3: you can pay more in tax. We don't want that

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Speaker 3: to happen. So last thing we want to talk about

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Speaker 3: it is the Maggie plant putting in this all together.

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Speaker 3: Making sure that you have a plan and income plant,

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Speaker 3: a tax plan and investment plan, a social security maximization plan,

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Speaker 3: and also a state planned. So take up the phone,

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Speaker 3: schedule time to meet with us. Eight three to three,

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Speaker 3: Maggie tax. There's so much information right there at your fingertips.

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Speaker 3: Eight three three Maggie tax. So let's dive in. Let's

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Speaker 3: talk about the rowthology method.

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Speaker 2: Okay, because here's the truth. Many people don't understand about

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Speaker 2: of a rough conversion. But you don't have to sit

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Speaker 2: around hoping Congress keeps taxes low. I think that's the

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Speaker 2: main thought that people out. Let's wait for taxes to

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Speaker 2: go low. You don't have to cross your fingers and

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Speaker 2: pray for retirement that you won't get eaten allied by taxes,

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Speaker 2: because you all know taxes go up. So you can

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Speaker 2: take control. That's the main thing. Take control. You can

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Speaker 2: build a retirement income stream that's insulated intentional and yes,

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Speaker 2: the keyword Chris mentioned before, say it tax free, all right,

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Speaker 2: because that's the thing people are asking for, but they're

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Speaker 2: afraid to cross that bridge to get to where it's

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Speaker 2: going to be tax free. And that's where the Rothologist

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Speaker 2: method comes in there, Chris and I talking about. And

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Speaker 2: this isn't just a Wroth conversion. This is a structured, strategic,

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Speaker 2: step by step approach to transforming your taxable future into

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Speaker 2: a tax free lifestyle. Let's break this down right to

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Speaker 2: the heart of it, because this is important. Please take notes.

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Speaker 2: There's four deep dive insights behind the Rothologists report. It's

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Speaker 2: not just slam bam here it is. It doesn't work

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Speaker 2: that way. Wroth conversions turn tax future liabilities into present opportunities.

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Speaker 2: So every dollar sitting in a traditional IRA or four

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Speaker 2: oh one K that many of you have out there

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Speaker 2: is a future tax bill. What tax bill, we don't know.

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Speaker 2: And the problem is that people wait too long and

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Speaker 2: then it's too much tax and they go, what can

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Speaker 2: I do about it? So a Wroth conversion lets you

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Speaker 2: you pay a tax now at a known historically low rate,

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Speaker 2: rather than later at a potentially high rate. It's not

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Speaker 2: just a tax move, it's a long term risk reduction strategy.

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Speaker 2: And Chris, I think that's where a lot of people

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Speaker 2: do not figure out. You know, let's wait till April

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Speaker 2: fifteenth to pay the taxes. Let's wait till we get

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Speaker 2: the seventy and a half and pay the tax on Bam.

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Speaker 2: Then guess what happens? Shock comes in.

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Speaker 3: Well, that's just it. You know, many people don't have

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Speaker 3: a strategy. That's why you need to have one. So

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Speaker 3: the Wroth conversion a lot of people talk about, but

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Speaker 3: they really just don't know how to do it in

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Speaker 3: the most tax efficient way. If you're going to do it,

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Speaker 3: would you want to meet with someone who understands taxes,

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Speaker 3: tax planning or who doesn't. And that's why just pick

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

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Speaker 3: we can show you how to do the Wroth conversion

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Speaker 3: the right way. Wroth conversion done right, we call it right.

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Speaker 3: And there's a potential way to do it where you

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Speaker 3: can pay les amount of taxes so your future income

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Speaker 3: is all tax free. That's what this is about, future

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Speaker 3: tax free money. And if you can do that while

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Speaker 3: while having strategic brackets and looking at them and managing

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Speaker 3: them maximizes the efficiency. Let's elaborate on that exactly.

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Speaker 2: And that's a great point because the Rothologists method it

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Speaker 2: isn't about converting every single dollar at once, that's what

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Speaker 2: most people think out there. It's about filling up your

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Speaker 2: tax brackets with precision, year by year so you never

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Speaker 2: pay more tax than necessary. We call it a strategic

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Speaker 2: conversion and think of it like pouring water into a glass.

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Speaker 2: You fill it to the line, not over, not under,

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Speaker 2: to get the perfect result, which means you get a

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Speaker 2: full glass.

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Speaker 3: My gosh, we'll stay right there for a minute because

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Speaker 3: that's exactly what people need to start thinking. And whether

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Speaker 3: you're driving, or whether you're walking, or whether you're in

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Speaker 3: your house, just just listen to the show today. That's

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Speaker 3: what it's about. So precision. Use that word because it's there.

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Speaker 3: Precision is what we focus on here at Maggie Tax

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Speaker 3: Advisor and Wealth Advisors. We help people on the tax

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Speaker 3: side with precision, with the investment side with precision, and

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Speaker 3: making sure that you have a complete plan. With precision.

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Speaker 3: This is you know everything that has to be dialed

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Speaker 3: in right, because if you don't do it right, you

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Speaker 3: can overflow the glass and gets what pay more taxes?

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Speaker 2: You need to good point?

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Speaker 3: You know you under fill the glass and guess what

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Speaker 3: you missed the opportunity? So how can they eliminate these

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Speaker 3: requirementium distributions and how that can protect your cash flow?

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Speaker 2: Well, it's strategic roll out, it's understanding how you know,

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Speaker 2: like maybe a three year or five year or seven

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Speaker 2: year plan, we'll you know, bring that tax down. But

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Speaker 2: eliminating required minimum distribution also protects your cash flow. And

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Speaker 2: think about a traditional accounts force you to take money

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Speaker 2: out whether you need it or.

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Speaker 3: Not, like an IRA or a form o K. If

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Speaker 3: you stop working, you have to take what they call

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Speaker 3: the requirement of distribution. So you have to take it,

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Speaker 3: satisfy it. But what can you do additional.

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Speaker 2: Well, if you don't want it, you know, you convert

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Speaker 2: it into tax free money. But there's no required minimum distribution.

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Speaker 2: Let me repeat that. I had a gentleman the other day,

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Speaker 2: seventy three. He called me up and he said, Bobby,

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Speaker 2: I'm seventy three. I have to take out the requirement distribution.

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Speaker 2: He said, what could I have done if I don't

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Speaker 2: get to seventy three? Let's say it was sixty three,

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Speaker 2: sixty four, sixty five. What could I have done? And

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Speaker 2: basically he could have done a rough conversion. So there's

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Speaker 2: no requirement of distributions. That means that more control. You

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Speaker 2: have more flexibility and few with taxable surprises in your

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Speaker 2: seventies and beyond, and you decide when to take money Chris,

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Speaker 2: not the irs.

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Speaker 3: There's no Wroth convert, there's no roth IRA requirement and

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Speaker 3: distributions correct with a regular IRA that you have to

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Speaker 3: take the required minimum. So if you start converting and

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Speaker 3: doing strategies with precision, then you can have an account

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Speaker 3: that you're not required to take the distributions out.

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Speaker 2: So stay with that, because yeah, you have to pay

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Speaker 2: a tax. Someone's sitting out there going, well, I have

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Speaker 2: to pay the tax. Of course you do. But if

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Speaker 2: I can show you from the rothologists how it works

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Speaker 2: that you'd pay least amount of tax and then over

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Speaker 2: a three, five or seven year period pay no tax,

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Speaker 2: and then when you get to that required minimum distribution age,

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Speaker 2: there's no tax.

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Speaker 3: There's no tax at all. Would you rather have tax

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Speaker 3: free or taxable? Look, which just flows into what we're

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Speaker 3: talking about here. Tax free growth compounds faster and lasts longer.

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Speaker 3: So when your money grows inside a Wroth form one

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Speaker 3: K or Wroth IRA, every dollar of growth stays yours.

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Speaker 3: No future tax haircut, no shrinking balances because of force withdrawals.

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Speaker 3: You know, over ten, twenty, even thirty years, the difference

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Speaker 3: can be massive, often the difference between comfortable living and

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Speaker 3: confident retirement living. That's what we're looking for, so precision.

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Speaker 3: So put together a plan. Give us a call eight

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Speaker 3: three to three, Magi Tax. There's so much information to

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Speaker 3: talk about. But if you're interested in a Wroth conversion

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Speaker 3: and you have investments, let's put together the right investment

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Speaker 3: slash tax plan for you. Think of the phone, schedule

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Speaker 3: time to meet with us eight three to three, Maggie Tax,

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Speaker 3: and visit our website at magiitax dot com.

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Speaker 2: You know, Chris, we've all been taught to save on

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Speaker 2: a tax deferred basis, and nobody told us when we

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Speaker 2: were younger that when you work for thirty forty fifty

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Speaker 2: years that when you get to the end, guess what

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Speaker 2: it is. It's all taxable now and at what rate

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Speaker 2: we don't know. And remember when taxes are low, and

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Speaker 2: by the way, taxes are at the lowest point ever.

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Speaker 2: So why would you not take advantage of paying a

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Speaker 2: tax on that Wroth account or that IRA rather four

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Speaker 2: one k to make it a Wroth account. So these

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Speaker 2: are the things you have to think about. Give us

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Speaker 2: a call at eight three to three Maggie Tax, and

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Speaker 2: here's what it is. So now that we've explored how

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Speaker 2: to build a tax free foundation, let's talk about another

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Speaker 2: pillar of retirement that can make or break your long

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Speaker 2: term income, and that's social security. And because while Roth

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Speaker 2: planning gives you control over taxes, social security gives you

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Speaker 2: control over timing and timing that translated into tens of

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Speaker 2: thousands of dollars over your lifetime. Think about that, that's

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Speaker 2: what you want. So coming up next, we're going to

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Speaker 2: talk about social Security maximization and how to claim smarter,

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Speaker 2: not sooner distributions. Eight three to three Maggie Tax. You're

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Speaker 2: listening to the Maggie Tax and Financial Show. Call us

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Speaker 2: at eight three to three Maggie Tax. That's eight three

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Speaker 2: to 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 Advisor. 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 2: Welcome back to the Maggie Tax and Financial Show. My

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

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Speaker 2: and co host, Chris Maggie. So let's think about this today.

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Speaker 2: We've talked about taxes, We've talked about building a tax

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Speaker 2: free engine for your retirement. Now let's shift to something

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Speaker 2: every retiree has a stake in. It's called social Security.

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Speaker 2: And most people think social Security is simple and you

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Speaker 2: hit a certain age, you file and the checks just

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Speaker 2: start coming in. Chris, that's how simple they think it is.

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Speaker 2: But here's the truth. Social Security is one of the

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Speaker 2: most misunderstood under optimized income sources in America. And the

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Speaker 2: difference between a smart claiming strategy and a rush one

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Speaker 2: can mean tens of thousands of dollars over your lifetime.

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Speaker 2: And this isn't just a government benefit, it's a financial level.

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Speaker 2: And when you pull it at the right time. It

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Speaker 2: can dramatically strengthen your retirement plan. And Chris, in retirement planning,

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Speaker 2: when you talk about income planning and social security planning

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Speaker 2: and investment planning, this pays. This plays a major part.

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Speaker 2: Would you agree totally?

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Speaker 3: You know, this is an income source that many people

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Speaker 3: have the opportunity to have, and we don't know how

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Speaker 3: long it's going to be there or if they can

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Speaker 3: change it. But the end of the day, it's a

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Speaker 3: stream of income. So how do you use this in

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Speaker 3: your retirement plan? And many people just don't know how

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Speaker 3: to turn it on, when to turn it on, how

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Speaker 3: it's going to be taxed, spouse or benefits. What if

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Speaker 3: you pass away, who gets the hire the two if

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Speaker 3: you're taking the benefit of your spouse. These are things

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Speaker 3: that we can break down. So your claiming age directly

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Speaker 3: impacts your lifetime benefit. And many people come to us

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Speaker 3: and they just don't know what to do, right, I mean,

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Speaker 3: they bring in the statement, they've been paying into it

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Speaker 3: for so many years. They just don't know that this

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Speaker 3: is a big deal for them if turning on the

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Speaker 3: right way. So claiming at age sixty two locks you

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Speaker 3: in to a permanent reduction up to thirty percent less

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Speaker 3: for life. I don't know if many people understood that

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Speaker 3: or even understand that, because waiting until you're full retirement age,

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Speaker 3: they could be sixty seven. Many years ago it was

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Speaker 3: sixty five, and then it was based off your age

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Speaker 3: and when you were born, and then it could be

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Speaker 3: sixty six and two months. So fra full retirement age

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Speaker 3: is you need to understand what that is. So many

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Speaker 3: people wait into age seventy. Well, it can increase your

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Speaker 3: monthly benefits significantly if you wait, but again, how long

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Speaker 3: you're going to live. So this isn't just about a

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Speaker 3: bigger check, It's about long term income stability. So how

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Speaker 3: do we get through this with our clients because many

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Speaker 3: people really just don't know what to do.

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Speaker 2: Well, if you have a Social Security report, you can

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Speaker 2: go to SSA dot gov and you can print one

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Speaker 2: out yourself. And here's what's going to tell us when

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Speaker 2: we run the Social Security Maximization Report. It's going to

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Speaker 2: show you at age sixty two, at full retirement, and

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Speaker 2: at age seventy what you're going to get. And you

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Speaker 2: do a wonderful job when you present this because the

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Speaker 2: thing about it is that people don't really see like

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Speaker 2: social Security grows. It's six point two percent to full

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Speaker 2: retirement age, and then after that it grows at eight percent.

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Speaker 2: And people wonder, well, why am I getting more? Well,

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Speaker 2: because you're paying into it, all right, And the thing

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Speaker 2: is that if you take it early, you lose the

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Speaker 2: benefit of the growth that you could have had to

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Speaker 2: age seventy And is it a big deal? Well, that's

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Speaker 2: the question that we ask you. Do you need the income?

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Speaker 2: Because if you don't need the income, then you delay it. Well,

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Speaker 2: that's just it.

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Speaker 3: Every situation is different, right, because what if your life

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Speaker 3: expectancy isn't that long? Are you going to wait to

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Speaker 3: ege seventy And then you know what, if you have

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Speaker 3: health issues and you pass away seventy four, you only

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Speaker 3: got four years of benefit, so it might have made

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Speaker 3: sense for you to take it earlier. That's why it's

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Speaker 3: so important to do a Social Security maximization review, especially

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Speaker 3: if you have investments and you're paying taxes and you

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Speaker 3: have no plan. Let's put together a plan because we

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Speaker 3: can show you exactly when to take it, how to

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Speaker 3: maximize your benefit, because if you wait past your full

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Speaker 3: retirement age, your benefit grows by As my dad mentioned,

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Speaker 3: eight percent per year until late seventy and that's a

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Speaker 3: guaranteed increase, but no market risk, no volatiley, no guesswork.

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Speaker 3: But there's nothing else in retirement planning that offers that

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Speaker 3: kind of predictable return. But again, sometimes that can be

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Speaker 3: misleading because that's what they want you to do. They

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Speaker 3: want you to wait, wait, wait, and then less years

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Speaker 3: for you to take the benefit. So that's why you

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Speaker 3: have to do this strategically and what we call with

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Speaker 3: precision exactly.

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Speaker 2: And that's where a lot of people really don't understand.

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Speaker 2: When we do our TV show, we have a segment

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Speaker 2: on there on Social Security, and I can't tell you

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Speaker 2: how many calls I get on a Monday saying what

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Speaker 2: about the survivor benefit? What about these delayed retirement credits?

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Speaker 2: You know, what about the spousal benefit? Because it's just

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Speaker 2: not one piece where you get a check. Look think

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Speaker 2: about this. We paid into social Security all our lives

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Speaker 2: and then at the end we have to wait seven

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Speaker 2: eight years to get the max and even that's not

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Speaker 2: the max. So you know, don't rely on Social Security

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Speaker 2: as a retirement benefit because it's just not the way

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Speaker 2: it's going to be. And again, we run this Social

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Speaker 2: Security Maximization Report, and I would encourage all of you

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Speaker 2: to make an appointment with us, bring in your statement

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Speaker 2: and we can talk through these questions. Because if you

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Speaker 2: wagh past your full retirement age, your benefit grows, like

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Speaker 2: I said, about eight percent per year until age seventy.

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Speaker 2: That's a guaranteed increase, no market risk, no volatility, no guesswork,

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Speaker 2: and there's nothing else in retirement planning that offers that

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Speaker 2: kind of predictable return. But coordinating benefits with your spouse

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Speaker 2: can multiply your income. And this is where it gets

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Speaker 2: interesting because married couples have options spousal benefits, survivor benefits,

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Speaker 2: timing strategies, and coordination between two incomes. So a well

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Speaker 2: planned approach can maximize the household income and protect the

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Speaker 2: surviving spouse from a sudden drop in benefits later in life.

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Speaker 2: Well that's just it. I mean, think about this.

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Speaker 3: If you're this has been in you're getting four thousand

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Speaker 3: a month and your spouse is getting one thousand a month.

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Speaker 3: Which usually a lot of people don't know is that

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Speaker 3: you could get the half of the spouse so benefit

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Speaker 3: without knowing it exactly. These are things that we have

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Speaker 3: to look at too. But just say you're getting four

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Speaker 3: and your spouse is getting two. But if you pass away,

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Speaker 3: say that how this husband passes away, then the spouse

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Speaker 3: loses her benefit, but she gets the higher the two,

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Speaker 3: which is the four. So that means instead of having

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Speaker 3: six thousand dollars of income every month, she'll have a

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Speaker 3: reduction to four. So what are you doing? So solid

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Speaker 3: Security should work with you with your other sources of income.

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Speaker 3: And that's why if you have investments and you have

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Speaker 3: other areas, and that's why you do investment planning, and

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Speaker 3: that's what we do as well. We can show you

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Speaker 3: with the tax plan, the investment plan sold security plan

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Speaker 3: could the best claiming strategy isn't chosen in isolation. We

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Speaker 3: want it depend on your taxes, your savings, your health,

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Speaker 3: your longevity expectations, and your income needs. Because when solid

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Speaker 3: Security is integrated with your WROTH strategy, as we mentioned before,

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Speaker 3: pensions that you're getting it maybe future withdrawals, it becomes

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Speaker 3: a powerful stabilizer in your time and plants. So that's

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Speaker 3: why we urge you to pick up the phone schedule

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Speaker 3: time to meet with us. Eight three three Maggie Tax.

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Speaker 2: So now that you understand how to get the most

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Speaker 2: out of the benefit you spent the lifetime paying into.

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Speaker 2: Now it's time to talk about something that quietly determines

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Speaker 2: how long your money actually lasts. Because that's the big question,

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Speaker 2: how long is my money going to last? And you

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Speaker 2: know this is important. So when you're sitting there thinking

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Speaker 2: am I going to outlive my money? Take a look

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Speaker 2: at solid security maximization to give you the base so

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Speaker 2: that you have an idea of how much more you need.

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Speaker 2: And it may not be as bad as you think.

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Speaker 2: So up next, we're going to talk about retirement income sequencing,

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Speaker 2: the order you take your money from your accounts, and

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Speaker 2: why getting it right can add years of life to

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Speaker 2: your nest egg. So got to keep this thing going here.

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Speaker 2: Give us a call eight three to three Maggie Tax.

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Speaker 2: If you have questions about solid security or taxes, it's

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Speaker 2: eight three to three Maggie Tax. You're listening to the

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Speaker 2: Maggie Tax and Financial Show.

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

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

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

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Speaker 1: Maggie Tax and Wealth Advisors for information, on how you

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

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

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

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Speaker 3: Welcome back to the Maggie Tax and Financial Show. Thanks

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Speaker 3: for tuning in. We are always glad to be here

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Speaker 3: because there's so much information to talk about. We have

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Speaker 3: clients that come in each and every week. My gosh,

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Speaker 3: they they want advice, they want education, they want a plan,

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Speaker 3: and they haven't had it. And you know, as my

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Speaker 3: dad and I sit here all the time and we

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Speaker 3: talk about this, when's the last class you had.

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Speaker 2: On how to make a plan? A financial plan, right,

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Speaker 2: a tax plan? How do you incorporate all together?

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Speaker 3: And we just get amazed by people who are in

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Speaker 3: the fifties, their sixties, their seventies, and they don't have

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Speaker 3: the answers. And you know, it's not an educational problem

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Speaker 3: for them individually, it's just pretty much a known problem

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Speaker 3: amongst everybody. They're not getting the advice, the true advice.

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Speaker 3: I had a client that called last week. They want

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Speaker 3: to put one hundred percent of their money in goal,

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Speaker 3: and I said, think about that you're putting it all

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Speaker 3: into a speculative investment. And they said, well, I'm talking

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Speaker 3: to a transactional advisor with their current advisor. And I said,

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Speaker 3: that's why we do complete planning. When you work with

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Speaker 3: a fiduciary, someone has to give you the right advice.

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Speaker 3: And we're not saying that gold cannot be a part

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Speaker 3: of your plan. Absolutely it can be, but you can't

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Speaker 3: put one hundred percent of it in there. So these

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Speaker 3: things we see data each and every week and we

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Speaker 3: just get amazed. That's why we do the show because

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Speaker 3: people need to understand that there are people out there

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Speaker 3: that can help them, and that's what we do.

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Speaker 2: Well, you said it best. I mean, we do the

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Speaker 2: show every week, been doing it for years. We do

432
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Speaker 2: the TV show, the radio show, and every time we

433
00:20:37,640 --> 00:20:40,119
Speaker 2: talk about some different topic, people call us on a

434
00:20:40,160 --> 00:20:42,960
Speaker 2: Monday or any day during the week and they're always saying, well, gee,

435
00:20:43,000 --> 00:20:45,240
Speaker 2: was no one sat down and explained that to you,

436
00:20:45,320 --> 00:20:48,080
Speaker 2: because they're not and you don't ask. And if you

437
00:20:48,080 --> 00:20:49,919
Speaker 2: don't ask and you don't get the answers, then you're

438
00:20:49,960 --> 00:20:51,800
Speaker 2: never going to know, you know, what the real answer

439
00:20:51,840 --> 00:20:53,960
Speaker 2: is because you're just out there in a cloud. My

440
00:20:54,040 --> 00:20:55,879
Speaker 2: father used to say things like, the hell with it.

441
00:20:56,160 --> 00:20:59,000
Speaker 2: I don't want to bother you. No, No, that's not it, folks,

442
00:20:59,040 --> 00:21:01,800
Speaker 2: that's not it. You have to bother somebody. Because we

443
00:21:01,880 --> 00:21:05,000
Speaker 2: talk today about taxes. How much do you know about taxes?

444
00:21:05,040 --> 00:21:07,080
Speaker 2: All you know is that you pay taxes in and

445
00:21:07,119 --> 00:21:09,920
Speaker 2: you pay taxes out, okay, and they take more taxes out.

446
00:21:10,119 --> 00:21:12,840
Speaker 2: And then we talked about Roth strategy. Who's talking to

447
00:21:12,840 --> 00:21:15,800
Speaker 2: you about Roth strategy? How to convert your accounts to

448
00:21:15,920 --> 00:21:18,600
Speaker 2: tax free? Nobody? That's why we do the show. And

449
00:21:18,640 --> 00:21:21,280
Speaker 2: we talked about social security. And this is so important

450
00:21:21,280 --> 00:21:25,119
Speaker 2: because social security is a confusing mechanism for many people

451
00:21:25,119 --> 00:21:26,840
Speaker 2: out there. You pay into it, and then when you

452
00:21:26,840 --> 00:21:29,080
Speaker 2: want to get it out, you all complain. We all do,

453
00:21:29,240 --> 00:21:31,400
Speaker 2: we're not getting enough. So now we're stepping into one

454
00:21:31,680 --> 00:21:34,359
Speaker 2: of the most overlooked, the most powerful that I think,

455
00:21:34,840 --> 00:21:39,560
Speaker 2: parts of retirement planning. And we're talking about retirement income sequencing. Chris,

456
00:21:39,880 --> 00:21:43,200
Speaker 2: what the heck is sequencing? Would you please break that down?

457
00:21:43,200 --> 00:21:45,320
Speaker 3: I love to you know, most people think retirement is

458
00:21:45,400 --> 00:21:48,800
Speaker 3: just about how much you've saved, but the real truth

459
00:21:49,000 --> 00:21:51,040
Speaker 3: it's us about how do you use it?

460
00:21:51,359 --> 00:21:51,520
Speaker 2: You know?

461
00:21:51,560 --> 00:21:53,760
Speaker 3: The order in which we pull money from your accounts

462
00:21:53,800 --> 00:21:57,520
Speaker 3: can dramatically affect how long your money lasts. It can

463
00:21:57,560 --> 00:21:59,680
Speaker 3: affect how much you pay in tax. It can affect

464
00:21:59,720 --> 00:22:02,800
Speaker 3: how much risk you take, and also how stable your

465
00:22:02,800 --> 00:22:06,600
Speaker 3: income feels. And get the sequence wrong, and you can

466
00:22:06,880 --> 00:22:12,040
Speaker 3: unintentionally drain your nest egg years earlier then necessary. So

467
00:22:12,440 --> 00:22:14,920
Speaker 3: you need to get it right, and your money works

468
00:22:14,920 --> 00:22:17,879
Speaker 3: smooth or smarter and more efficiently, often without you saving

469
00:22:17,880 --> 00:22:22,199
Speaker 3: a single extra dollar because you can control the sequence

470
00:22:22,520 --> 00:22:23,600
Speaker 3: of distribution.

471
00:22:23,800 --> 00:22:27,320
Speaker 2: Would you call it discipline discipline? Right? We talk about

472
00:22:27,359 --> 00:22:29,320
Speaker 2: precision discipline too.

473
00:22:29,480 --> 00:22:32,800
Speaker 3: My goodness, you know, most people, it's amazing when we

474
00:22:32,840 --> 00:22:36,480
Speaker 3: incorporate taxes, we can tell people and a lot of times,

475
00:22:36,640 --> 00:22:38,680
Speaker 3: even a couple times. Last week, we had a client

476
00:22:38,680 --> 00:22:41,640
Speaker 3: that had eighty thousand dollars of income in retirement and

477
00:22:41,680 --> 00:22:44,080
Speaker 3: it's not paying a diamond tax. And then we had

478
00:22:44,119 --> 00:22:48,000
Speaker 3: a client that's receiving one thousand dollars you know every week.

479
00:22:48,080 --> 00:22:51,760
Speaker 3: That's four thousand a month times twelve, you know, that's

480
00:22:52,000 --> 00:22:53,960
Speaker 3: forty eight thousand dollars year in pay no tax.

481
00:22:54,080 --> 00:22:55,600
Speaker 2: Wow, right, And they have another.

482
00:22:55,359 --> 00:22:57,560
Speaker 3: Client that paid received one hundred and twenty thousand dollars

483
00:22:57,600 --> 00:22:59,359
Speaker 3: a year, ten thousand dollars a month, and it's not

484
00:22:59,400 --> 00:23:02,640
Speaker 3: paying a dimemond tax. Well, so most people say, wow,

485
00:23:03,000 --> 00:23:07,000
Speaker 3: that cannot happen because most people don't understand household security

486
00:23:07,040 --> 00:23:09,200
Speaker 3: is taxed. Most people don't understand if you do the

487
00:23:09,280 --> 00:23:11,520
Speaker 3: right plan, and you can have tax free buckets forever

488
00:23:11,560 --> 00:23:14,200
Speaker 3: and ever and ever, and there's nothing wrong with taxable buckets.

489
00:23:14,200 --> 00:23:15,919
Speaker 3: But if you know how to take it from the

490
00:23:16,000 --> 00:23:20,080
Speaker 3: right source, guess what you can have those examples be

491
00:23:20,240 --> 00:23:20,720
Speaker 3: your life.

492
00:23:20,960 --> 00:23:23,280
Speaker 2: You want to tell everybody now, you want to make

493
00:23:23,320 --> 00:23:23,720
Speaker 2: them come.

494
00:23:23,640 --> 00:23:25,920
Speaker 3: In my gosh, Well that's it. So if you're paying

495
00:23:25,960 --> 00:23:28,520
Speaker 3: too much in tax and you're in retirement, about to retire,

496
00:23:29,040 --> 00:23:32,679
Speaker 3: and you don't have a distribution plan, then you have

497
00:23:32,760 --> 00:23:34,280
Speaker 3: to pick up the phone and schedule time to meet

498
00:23:34,280 --> 00:23:37,360
Speaker 3: with us. I mean, why would you not Why would

499
00:23:37,400 --> 00:23:38,800
Speaker 3: you want to pay more tax than you don't?

500
00:23:38,840 --> 00:23:41,440
Speaker 2: You have to because they don't know, and because they're

501
00:23:41,440 --> 00:23:44,000
Speaker 2: afraid to ask the question, and because they might look stupid.

502
00:23:44,359 --> 00:23:46,840
Speaker 2: But why would you look stupid if you can avoid

503
00:23:46,840 --> 00:23:49,640
Speaker 2: paying taxes and what Chris just mentioned, have the guaranteed

504
00:23:49,720 --> 00:23:51,919
Speaker 2: income you want without sweating it. I mean, come on,

505
00:23:52,000 --> 00:23:53,119
Speaker 2: give me a break. Exactly.

506
00:23:53,200 --> 00:23:56,159
Speaker 3: That's why different accounts have different tax consequences, which we're

507
00:23:56,160 --> 00:23:58,159
Speaker 3: going to talk about. You know, you're not choosing just

508
00:23:58,160 --> 00:24:00,600
Speaker 3: where you pull money from. You're choosing how much tax

509
00:24:00,600 --> 00:24:04,440
Speaker 3: you're gonna pay. Our clients can control their tax rate.

510
00:24:05,640 --> 00:24:11,040
Speaker 2: You no, it's we whoa slow down? You said control

511
00:24:11,119 --> 00:24:13,800
Speaker 2: the tax rate? Is it because people take too much

512
00:24:13,880 --> 00:24:16,520
Speaker 2: out too soon and then they don't know when they

513
00:24:17,240 --> 00:24:18,680
Speaker 2: like they borrow money they owe it back.

514
00:24:18,840 --> 00:24:22,720
Speaker 3: Is that kind of simple or confusing? It's confusing, but

515
00:24:22,800 --> 00:24:26,400
Speaker 3: also too it's there. There's taxable accounts, there's tax deferred accounts,

516
00:24:26,440 --> 00:24:30,159
Speaker 3: there's tax free accounts, and they all behave differently. So

517
00:24:30,240 --> 00:24:33,840
Speaker 3: a smart sequence blends them in a way that minimizes

518
00:24:33,880 --> 00:24:39,040
Speaker 3: their taxes and maximizes longevity. Precisely, we talked about precision.

519
00:24:39,400 --> 00:24:41,399
Speaker 3: The word of the day, I guess is precision because when

520
00:24:41,400 --> 00:24:44,360
Speaker 3: we're together a plan, whether it's the social scurity maximization

521
00:24:44,480 --> 00:24:50,680
Speaker 3: precision strategy, the investment precision strategy, the roth conversion precisions strategy,

522
00:24:50,680 --> 00:24:52,960
Speaker 3: how much you're paying tax precision strategy.

523
00:24:53,080 --> 00:24:55,040
Speaker 2: I mean, this is what it's about. Right, So you

524
00:24:55,080 --> 00:24:57,080
Speaker 2: think you might be better off meeting with someone and

525
00:24:57,119 --> 00:25:00,760
Speaker 2: instead of just a Chris mentioned it before transactional who says,

526
00:25:01,040 --> 00:25:04,560
Speaker 2: just throw your money in gold? It's okay, where's the strategy?

527
00:25:04,760 --> 00:25:07,840
Speaker 2: Where's the precision there? For income and taxes? Chris? And

528
00:25:07,920 --> 00:25:11,480
Speaker 2: it's ridiculous because early withdrawals can protect you from future

529
00:25:11,560 --> 00:25:15,560
Speaker 2: tax surprises. And here's what happens. Many retirees avoid touching

530
00:25:15,560 --> 00:25:18,560
Speaker 2: their iras early on. I talked about this before, thinking

531
00:25:18,560 --> 00:25:21,199
Speaker 2: they're gonna save them. Oh yeah, yeah, you're gonna save them,

532
00:25:21,200 --> 00:25:24,320
Speaker 2: all right, you're saving for Uncle Sam's retirement. But sometimes

533
00:25:24,800 --> 00:25:28,199
Speaker 2: the best move is to intentionally draw down tax deferred

534
00:25:28,200 --> 00:25:31,480
Speaker 2: accounts earlier before you take the RMD's kick in, and

535
00:25:31,520 --> 00:25:34,240
Speaker 2: then they force you into hire tax bracket. Folks, what

536
00:25:34,320 --> 00:25:35,720
Speaker 2: do you think is gonna happen when you take money

537
00:25:35,760 --> 00:25:38,280
Speaker 2: out of you IRA taxible? Oh? Is it really?

538
00:25:38,280 --> 00:25:38,359
Speaker 3: So?

539
00:25:38,440 --> 00:25:39,920
Speaker 2: You put that on your income tax return?

540
00:25:40,000 --> 00:25:41,760
Speaker 3: Yeah, you get a ten ninety nine, You got a report.

541
00:25:41,800 --> 00:25:44,920
Speaker 3: It shows taxable amount and then gross amount and taxable amount.

542
00:25:44,960 --> 00:25:47,359
Speaker 2: Guess what does the income tax bracket go up? It

543
00:25:47,440 --> 00:25:50,520
Speaker 2: can be Oh my goodness, wow, it can affect your

544
00:25:50,560 --> 00:25:53,520
Speaker 2: solid security up to eighty five percent. Really has anybody

545
00:25:53,560 --> 00:25:54,200
Speaker 2: told you folks?

546
00:25:54,200 --> 00:25:54,280
Speaker 3: That?

547
00:25:54,400 --> 00:25:57,080
Speaker 2: Because we do because when you start talking about tax

548
00:25:57,080 --> 00:25:59,840
Speaker 2: planning like we do at Maggie Tax and Wealth Advisors.

549
00:25:59,880 --> 00:26:02,640
Speaker 2: This this is on your tax return. This is your story.

550
00:26:03,000 --> 00:26:04,680
Speaker 2: And what Chris and I do is we read it

551
00:26:04,840 --> 00:26:06,159
Speaker 2: and then we're going to tell you the rest of

552
00:26:06,200 --> 00:26:07,879
Speaker 2: the story. Because now you're going to sit there and

553
00:26:07,880 --> 00:26:10,560
Speaker 2: I've seen it so many times in shock like, oh

554
00:26:10,640 --> 00:26:12,520
Speaker 2: my god, you know what do we do now? Well,

555
00:26:12,520 --> 00:26:14,320
Speaker 2: we're going to tell you what to do, so you know,

556
00:26:14,480 --> 00:26:16,639
Speaker 2: even think about this before the rm ds kick in

557
00:26:17,040 --> 00:26:19,760
Speaker 2: and force you into hire tax brackets. Do something about it,

558
00:26:20,040 --> 00:26:22,720
Speaker 2: think about a Roth conversion, because a little planning now

559
00:26:23,040 --> 00:26:25,240
Speaker 2: can prevent the tax explosion later. And if you go

560
00:26:25,280 --> 00:26:28,439
Speaker 2: to our website, Maggie Tax dot com the top right

561
00:26:28,480 --> 00:26:31,520
Speaker 2: hand corner, you'll see the retirement calculator. Go over there,

562
00:26:31,600 --> 00:26:33,439
Speaker 2: press the button and it's going to ask you to

563
00:26:33,440 --> 00:26:35,680
Speaker 2: put some information in it. Now, you can be as

564
00:26:35,680 --> 00:26:37,199
Speaker 2: honest as you want with it, but you can do

565
00:26:37,359 --> 00:26:39,480
Speaker 2: as real as you want. And you put those numbers in.

566
00:26:39,520 --> 00:26:42,720
Speaker 2: It's going to tell you what your requirement distribution is

567
00:26:42,720 --> 00:26:44,560
Speaker 2: going to be, and it's going to tell you what

568
00:26:44,680 --> 00:26:47,520
Speaker 2: tax you pay. It's right there. You can't take it away.

569
00:26:47,840 --> 00:26:49,440
Speaker 2: That's the time, you need to pick up the phone

570
00:26:49,480 --> 00:26:51,639
Speaker 2: and give Chris and I a call at Maggie Tax

571
00:26:51,640 --> 00:26:54,800
Speaker 2: and Wealth Advisors because we do this every day. We

572
00:26:54,880 --> 00:26:57,800
Speaker 2: see this every day. You don't, So why don't you

573
00:26:57,840 --> 00:27:00,200
Speaker 2: take a look at it from your perspective, from you

574
00:27:00,280 --> 00:27:02,879
Speaker 2: of you and say, wow, this is my story and Chris.

575
00:27:02,920 --> 00:27:05,159
Speaker 2: Now they can make a decision to do something because

576
00:27:05,440 --> 00:27:07,760
Speaker 2: they have the right answer in front of them, not

577
00:27:07,880 --> 00:27:09,600
Speaker 2: just someone down the block telling them what to do.

578
00:27:09,680 --> 00:27:11,280
Speaker 3: Well, that's just it. And that's why in our last

579
00:27:11,280 --> 00:27:12,760
Speaker 3: second we're going to talk about the Maggie Plan. I'm

580
00:27:12,760 --> 00:27:14,480
Speaker 3: going to put all us together. But you know, as

581
00:27:14,520 --> 00:27:18,040
Speaker 3: of right now, market conditions should influence your withraal order.

582
00:27:18,320 --> 00:27:20,159
Speaker 3: You know, many people don't understand that. That's why you

583
00:27:20,200 --> 00:27:22,320
Speaker 3: need to have a plan, have an advisor that's helping you,

584
00:27:22,359 --> 00:27:24,919
Speaker 3: a team of people, not just one. You know, pulling

585
00:27:24,920 --> 00:27:27,919
Speaker 3: money from the wrong account during a market downturn can

586
00:27:28,040 --> 00:27:31,280
Speaker 3: permanently damage your portfolio. Who's talking about your distribution plan?

587
00:27:31,359 --> 00:27:34,520
Speaker 3: Do you have a distribution plan? If not, why not?

588
00:27:34,680 --> 00:27:38,520
Speaker 3: We can help well? A design designed design. We talked

589
00:27:38,560 --> 00:27:42,840
Speaker 3: about precision sequence adapts to market conditions, and that's why

590
00:27:42,920 --> 00:27:46,359
Speaker 3: drawing from safer buckets when markets are down, and growth

591
00:27:46,359 --> 00:27:49,840
Speaker 3: becket buckets when markets are strong. This protects your long

592
00:27:49,920 --> 00:27:52,840
Speaker 3: term balance and reduces the risk of running out of money.

593
00:27:53,080 --> 00:27:56,000
Speaker 3: That's why when we meet with clients, the main concern

594
00:27:56,040 --> 00:27:58,840
Speaker 3: about whether you have ten thousand or a ten million

595
00:27:58,920 --> 00:28:00,640
Speaker 3: or forty million, it doesn't matter that are The main

596
00:28:00,680 --> 00:28:04,439
Speaker 3: concern is will I outlive my money? And the answer is,

597
00:28:04,680 --> 00:28:07,800
Speaker 3: if you put together the right plan, you won't. That's

598
00:28:07,800 --> 00:28:12,760
Speaker 3: why coordinating income sources creates a smoother, a long lasting plan.

599
00:28:13,119 --> 00:28:15,080
Speaker 2: Yeah, and that's what we're talking about here. Think about

600
00:28:15,160 --> 00:28:18,800
Speaker 2: all the things we're talking about, social security, your pensions,

601
00:28:19,160 --> 00:28:23,199
Speaker 2: your roth withdrawals, taxable accounts and I raise all interact

602
00:28:23,359 --> 00:28:26,080
Speaker 2: and the right sequence balances these sources to keep your

603
00:28:26,080 --> 00:28:30,960
Speaker 2: tax bracket stable and your income predictable and your portfolio healthy.

604
00:28:31,400 --> 00:28:35,919
Speaker 2: It's not about guessing, it's about engineering a sustainable income flow.

605
00:28:36,280 --> 00:28:38,200
Speaker 2: This is what all of you are asking for. This

606
00:28:38,240 --> 00:28:40,680
Speaker 2: is what you tell us when you come in, Bobby, Chris,

607
00:28:41,120 --> 00:28:43,640
Speaker 2: I need more income. I'm paying too much in taxes,

608
00:28:43,880 --> 00:28:46,360
Speaker 2: my social security is not enough. We've heard all those

609
00:28:46,440 --> 00:28:48,680
Speaker 2: we hear it every day. But this is up to

610
00:28:48,720 --> 00:28:50,719
Speaker 2: you to make a decision to do something about it.

611
00:28:51,000 --> 00:28:53,480
Speaker 2: Put a plan together. We call it the Maggie Plan.

612
00:28:53,800 --> 00:28:56,280
Speaker 2: It's a tax plan, it's an income plan, it's a

613
00:28:56,320 --> 00:28:59,840
Speaker 2: social security plan, it's an investment plan. It's a legacy.

614
00:29:00,600 --> 00:29:03,280
Speaker 2: What am I missing? What other plan is? It's a planning.

615
00:29:03,480 --> 00:29:05,560
Speaker 2: It's a complete plan. You know, that's what it's about.

616
00:29:05,840 --> 00:29:07,520
Speaker 3: So if you look for a complete advisor, pick up

617
00:29:07,520 --> 00:29:09,040
Speaker 3: the phone, schedule time to meet with us, because we're

618
00:29:09,040 --> 00:29:11,720
Speaker 3: serious about helping you. My gosh, you know, every week

619
00:29:11,760 --> 00:29:13,920
Speaker 3: we get with clients and I get disappointed when I

620
00:29:13,920 --> 00:29:16,640
Speaker 3: see plans come through my desk and people I don't

621
00:29:16,680 --> 00:29:18,520
Speaker 3: have any plans. They just have piles of money, and

622
00:29:18,560 --> 00:29:21,120
Speaker 3: what are you doing about it? Most people they're going up,

623
00:29:21,120 --> 00:29:23,360
Speaker 3: they're going down. They're taking money from the wrong spot.

624
00:29:23,400 --> 00:29:26,040
Speaker 3: They have no idea. And that's why you have to

625
00:29:26,120 --> 00:29:28,600
Speaker 3: understand that complete planning. You deserve it. You don't have

626
00:29:28,640 --> 00:29:30,480
Speaker 3: to have millions of dollars to have a complete plan.

627
00:29:30,560 --> 00:29:33,480
Speaker 3: We can help you. Maggie Tax and Wealth Advisors, Maggie

628
00:29:33,520 --> 00:29:36,760
Speaker 3: Tax dot Com eight three three Magie Tax. And remember

629
00:29:36,840 --> 00:29:40,920
Speaker 3: this retirement isn't just about saving money, it's about using

630
00:29:40,960 --> 00:29:45,360
Speaker 3: it wisely. You know, taxes there's tax timing, there's Social

631
00:29:45,400 --> 00:29:49,880
Speaker 3: security timing, there's income sequencing. They all work together. It's

632
00:29:49,920 --> 00:29:53,920
Speaker 3: like gears in machines. We understand that they all have

633
00:29:54,000 --> 00:29:57,280
Speaker 3: to work together because when they're all aligned, your retirement

634
00:29:57,360 --> 00:30:00,440
Speaker 3: runs smoothly, and it's the best feeling in the world.

635
00:30:00,480 --> 00:30:03,360
Speaker 3: When clients come in and have income, they have a plan,

636
00:30:03,400 --> 00:30:06,160
Speaker 3: they pay leads and taxes, because when they're not well,

637
00:30:06,240 --> 00:30:09,200
Speaker 3: that's when people run into trouble, and that's when people complain,

638
00:30:09,280 --> 00:30:11,560
Speaker 3: and that's when people get frustrated, and that's when people say,

639
00:30:11,560 --> 00:30:13,360
Speaker 3: I'm paying too much in taxes. But at the end

640
00:30:13,360 --> 00:30:14,840
Speaker 3: of the day, they don't have a plan. But the

641
00:30:14,840 --> 00:30:16,960
Speaker 3: good news here is that you have the knowledge now

642
00:30:17,200 --> 00:30:19,760
Speaker 3: and the strategy to take control of your financial future.

643
00:30:19,800 --> 00:30:21,240
Speaker 3: All you have to do is pick up the phone,

644
00:30:21,280 --> 00:30:23,760
Speaker 3: schedule a time to meet with us. Eight three three

645
00:30:23,840 --> 00:30:27,880
Speaker 3: Maggie Tax, Stay tuned, stay informed, and stay intentional, save

646
00:30:28,040 --> 00:30:32,560
Speaker 3: per percise. It's about precision because your retirement deserves nothing,

647
00:30:33,200 --> 00:30:33,920
Speaker 3: nothing less.

648
00:30:34,000 --> 00:30:35,320
Speaker 2: Eight three to three Maggie Tax.

649
00:30:40,680 --> 00:30:44,240
Speaker 1: Stop funding Uncle Sam's retirement and start planning for your

650
00:30:44,280 --> 00:30:47,720
Speaker 1: own successful retirement. As we return to the Maggie Tax

651
00:30:47,800 --> 00:30:51,160
Speaker 1: Financial Show with your host Robert and Chris Maggie with

652
00:30:51,280 --> 00:30:54,440
Speaker 1: Maggie Tax and Wealth Advisors. For information on how you

653
00:30:54,480 --> 00:30:58,080
Speaker 1: can create a tax free retirement. Call eight three three

654
00:30:58,480 --> 00:31:02,720
Speaker 1: Maggie Tax or visit Maggie Tax dot com. Now you're

655
00:31:02,800 --> 00:31:06,600
Speaker 1: host with Maggie Tax and Wealth Advisors, Robert and Chris Maggie.

656
00:31:06,840 --> 00:31:09,200
Speaker 3: Thanks for tuning into the MAGI Tax and Financial Show.

657
00:31:09,240 --> 00:31:11,640
Speaker 3: And today I'm talking about a whole bunch of topics

658
00:31:11,720 --> 00:31:14,400
Speaker 3: such as social security maximization, when's the best time to

659
00:31:14,480 --> 00:31:16,880
Speaker 3: take it, how it's taxed, what happens if you pass away.

660
00:31:17,160 --> 00:31:19,280
Speaker 3: So if you missed that segment, just pick up the phone,

661
00:31:19,320 --> 00:31:21,680
Speaker 3: schedule time to meet with us. Eight three three mag Attacks.

662
00:31:21,720 --> 00:31:25,640
Speaker 3: We could put together your social Security maximization report. I've

663
00:31:25,680 --> 00:31:29,200
Speaker 3: also talked about rothology and how to convert money from

664
00:31:29,280 --> 00:31:32,960
Speaker 3: a taxable environment to tax free zones. There's ways to

665
00:31:32,960 --> 00:31:35,160
Speaker 3: have tax free money for the rest of your life.

666
00:31:35,440 --> 00:31:37,520
Speaker 3: There's a strategy behind it. We talked about filling up

667
00:31:37,560 --> 00:31:39,960
Speaker 3: the glass to the line, you know, not going over.

668
00:31:40,040 --> 00:31:42,000
Speaker 3: How do you do that? Well, these are things we

669
00:31:42,040 --> 00:31:45,120
Speaker 3: can talk about. We can show you every every plan

670
00:31:45,280 --> 00:31:47,480
Speaker 3: is different. Eight three to three Magi Tax. We also

671
00:31:47,520 --> 00:31:50,720
Speaker 3: talked about income sequencing and when's the best time to

672
00:31:50,760 --> 00:31:53,520
Speaker 3: take money and where to take it from. With precision,

673
00:31:53,960 --> 00:31:56,080
Speaker 3: we can show you that. If you miss that topic,

674
00:31:56,360 --> 00:31:58,040
Speaker 3: my gosh, you missed a lot, but it's okay. Pick

675
00:31:58,080 --> 00:31:59,720
Speaker 3: up the phone, schedule time to meet with us. Eight

676
00:31:59,800 --> 00:32:02,440
Speaker 3: three three Maggie Tax. So we're going to finish up

677
00:32:02,480 --> 00:32:05,280
Speaker 3: today's show talking about what the Maggie Plans all about.

678
00:32:05,760 --> 00:32:08,400
Speaker 3: And it's come about complete planning, so that let's let's

679
00:32:08,400 --> 00:32:09,120
Speaker 3: dive into that.

680
00:32:09,360 --> 00:32:11,240
Speaker 2: Well, the thing that I can say is that you

681
00:32:11,320 --> 00:32:14,440
Speaker 2: now know from the show what most retires never hear.

682
00:32:14,840 --> 00:32:17,760
Speaker 2: But knowing isn't enough. Sometimes you don't know what you

683
00:32:17,800 --> 00:32:20,360
Speaker 2: don't know. And these people who win in retirement, they're

684
00:32:20,360 --> 00:32:23,280
Speaker 2: the ones who act while they still have time. Keep

685
00:32:23,280 --> 00:32:25,600
Speaker 2: an open mind, come in and meet with us and

686
00:32:25,880 --> 00:32:28,400
Speaker 2: ask questions. You don't have to go to just one advice.

687
00:32:28,440 --> 00:32:30,600
Speaker 2: You can go to multiple dvirus. There's nothing wrong, but

688
00:32:30,680 --> 00:32:32,280
Speaker 2: find the one that's going to give you the answers

689
00:32:32,280 --> 00:32:34,440
Speaker 2: that you want. So, so what is the Maggi Plan. Well,

690
00:32:34,480 --> 00:32:37,480
Speaker 2: the Maggi Plan is a combination of a tax plan.

691
00:32:37,920 --> 00:32:40,520
Speaker 2: Because people don't understand taxes, we can help them all

692
00:32:40,600 --> 00:32:43,400
Speaker 2: year round, not just you know, the first three months

693
00:32:43,400 --> 00:32:45,840
Speaker 2: of the year, that's not it. We have a Maggie

694
00:32:45,840 --> 00:32:49,200
Speaker 2: plan is the income plan. Most people out there ask

695
00:32:49,280 --> 00:32:51,640
Speaker 2: us the question, and you should be asking yourself do

696
00:32:51,720 --> 00:32:54,560
Speaker 2: I have enough income to live? And how am I

697
00:32:54,560 --> 00:32:57,240
Speaker 2: going to look in ten twenty thirty years? Do I

698
00:32:57,280 --> 00:33:00,160
Speaker 2: have enough income? And what about tax income? Okay, what

699
00:33:00,200 --> 00:33:02,800
Speaker 2: about investment income? How many of you out there have

700
00:33:02,880 --> 00:33:06,280
Speaker 2: portfolios and Chris can talk about this that haven't been

701
00:33:06,320 --> 00:33:09,920
Speaker 2: reviewed that you still have the same portfolio. Chris and

702
00:33:10,120 --> 00:33:12,000
Speaker 2: I had a client in just this week and she

703
00:33:12,080 --> 00:33:14,400
Speaker 2: showed me the statement and I said, when's the last

704
00:33:14,440 --> 00:33:16,320
Speaker 2: time you looked at it? She said, well, I don't know.

705
00:33:16,640 --> 00:33:18,160
Speaker 2: I said, well, whoa time out? What do you mean

706
00:33:18,200 --> 00:33:20,120
Speaker 2: you don't know? Well, I just gave it to the

707
00:33:20,120 --> 00:33:21,880
Speaker 2: bank and they're doing it. And I looked on it

708
00:33:22,160 --> 00:33:24,560
Speaker 2: and Chris, there were negatives there. What does a negative mean?

709
00:33:24,640 --> 00:33:27,400
Speaker 3: Well, it could be like a loss right or withdrawal

710
00:33:27,440 --> 00:33:30,480
Speaker 3: or withdrawal. But many people don't even know what they have.

711
00:33:30,560 --> 00:33:32,880
Speaker 3: And that's what you brought into my attention. You know,

712
00:33:32,960 --> 00:33:34,719
Speaker 3: you came into me and said look at this, and

713
00:33:34,760 --> 00:33:37,760
Speaker 3: I did, and I analyzed it and the client had

714
00:33:37,800 --> 00:33:39,960
Speaker 3: losses and we've been in an up market. So what

715
00:33:40,120 --> 00:33:43,040
Speaker 3: happens They just accounts weren't handled the right way. So

716
00:33:43,040 --> 00:33:45,680
Speaker 3: that's why the investment plan is so important, The tax

717
00:33:45,720 --> 00:33:48,280
Speaker 3: plan is so important, the solid security plan is so important.

718
00:33:48,440 --> 00:33:50,800
Speaker 2: What about the estate plan? Well, the estate plan many

719
00:33:50,840 --> 00:33:52,840
Speaker 2: of you, I'll ask this question, do you have a

720
00:33:52,840 --> 00:33:56,040
Speaker 2: will or a trust? And you should have something because

721
00:33:56,040 --> 00:33:59,360
Speaker 2: you should have a power of attorney, a healthcare surrogate.

722
00:33:59,680 --> 00:34:02,400
Speaker 2: These are documents that you need. They're not expensive, but

723
00:34:02,440 --> 00:34:04,440
Speaker 2: they're very expensive if you don't have them in place.

724
00:34:04,480 --> 00:34:07,600
Speaker 2: When someone passes away, and we see this every day.

725
00:34:07,640 --> 00:34:09,960
Speaker 2: People come in and say, well, gee, my wife's in

726
00:34:10,320 --> 00:34:12,560
Speaker 2: a nursing home and she doesn't we don't have power

727
00:34:12,560 --> 00:34:14,600
Speaker 2: of attorney. And some of you might relate to that

728
00:34:14,640 --> 00:34:16,840
Speaker 2: because then you can't do anything. Why because then it

729
00:34:16,840 --> 00:34:19,040
Speaker 2: goes through probate. What that means is you go call

730
00:34:19,080 --> 00:34:21,640
Speaker 2: an attorney and the attorneys are they cheap, Chris or

731
00:34:21,640 --> 00:34:22,480
Speaker 2: are they expensive?

732
00:34:22,560 --> 00:34:25,040
Speaker 3: No? That's the thing. I mean, you have control and

733
00:34:25,080 --> 00:34:27,520
Speaker 3: they could be very expensive depending on how much you have.

734
00:34:27,680 --> 00:34:29,800
Speaker 3: And many people don't want to go through that process.

735
00:34:29,840 --> 00:34:34,040
Speaker 3: And it's time, it's delays, it's costs. I mean it's

736
00:34:34,080 --> 00:34:36,520
Speaker 3: your decision. If you don't put together the right plan,

737
00:34:36,760 --> 00:34:39,120
Speaker 3: then guess what you can fall victim to these to

738
00:34:39,200 --> 00:34:39,920
Speaker 3: these obstacles.

739
00:34:39,960 --> 00:34:42,759
Speaker 2: You know, there's something that I always say about ensuring

740
00:34:43,160 --> 00:34:45,600
Speaker 2: your IRA or your four oh one K, and people

741
00:34:45,680 --> 00:34:48,080
Speaker 2: quiver when I say this, life insurance. Well, do you

742
00:34:48,120 --> 00:34:51,279
Speaker 2: know life insurance is an investment that's tax free that

743
00:34:51,560 --> 00:34:54,680
Speaker 2: I have my IRA insurance so when I pass away,

744
00:34:55,160 --> 00:34:57,480
Speaker 2: my family's going to get tax free money and they're

745
00:34:57,480 --> 00:34:59,040
Speaker 2: not going to have all those taxes to pay on

746
00:34:59,080 --> 00:35:01,560
Speaker 2: the IRA the four one. Can you know why some

747
00:35:01,640 --> 00:35:03,040
Speaker 2: of you are sitting out there going, well, gee, I

748
00:35:03,120 --> 00:35:05,400
Speaker 2: never heard of that because the advisor never told you

749
00:35:05,440 --> 00:35:08,080
Speaker 2: about it. That's why. Because everybody fears life insurance and

750
00:35:08,160 --> 00:35:10,080
Speaker 2: Chris life insurance are the only one that pays you

751
00:35:10,080 --> 00:35:12,279
Speaker 2: while you're alive. So what's wrong with that? If you

752
00:35:12,320 --> 00:35:14,600
Speaker 2: have tax free money to pay the bills, so life

753
00:35:14,640 --> 00:35:16,800
Speaker 2: goes on so you don't have to go broke paying taxes.

754
00:35:16,840 --> 00:35:19,040
Speaker 3: Well, many people don't realize is that many people just

755
00:35:19,040 --> 00:35:21,239
Speaker 3: think life insurance is a death benefits that also could

756
00:35:21,239 --> 00:35:23,279
Speaker 3: be a living benefit to help you pay for care

757
00:35:23,360 --> 00:35:25,920
Speaker 3: and long term care and accelerate the death benefit you

758
00:35:26,120 --> 00:35:27,440
Speaker 3: for tax free income.

759
00:35:27,640 --> 00:35:28,399
Speaker 2: How do you do that?

760
00:35:28,440 --> 00:35:31,319
Speaker 3: Well, these things we're talking about, So get the Maggie Plan.

761
00:35:31,440 --> 00:35:33,879
Speaker 3: You know, we have offices on both sides of the bay.

762
00:35:34,000 --> 00:35:37,400
Speaker 3: We do complete planning. Why because we feel that the

763
00:35:37,800 --> 00:35:40,080
Speaker 3: machine to work, it needs to work with all these

764
00:35:40,120 --> 00:35:44,200
Speaker 3: different areas. Because that's what life's about, is complete planning.

765
00:35:44,320 --> 00:35:45,960
Speaker 3: We need to put together an income plan for you

766
00:35:46,080 --> 00:35:49,320
Speaker 3: that coordinates with your taxes, with incorporates with your investments,

767
00:35:49,360 --> 00:35:51,760
Speaker 3: which incorporates with how you want to leave the money

768
00:35:51,920 --> 00:35:54,759
Speaker 3: upon your demise. This is the Maggie Plan. So pick

769
00:35:54,800 --> 00:35:56,520
Speaker 3: up the phone, schedule time to meet with us eight

770
00:35:56,560 --> 00:35:58,080
Speaker 3: three three Maggie Tax Hi.

771
00:35:58,000 --> 00:35:59,959
Speaker 2: And to ask you a question. And everyone out there,

772
00:36:00,160 --> 00:36:03,359
Speaker 2: of all the Maggie Plan, the tax plan, the income plan,

773
00:36:03,400 --> 00:36:06,319
Speaker 2: the investment plan, the estate plan, the insurance plan, which

774
00:36:06,320 --> 00:36:08,680
Speaker 2: one you think would be the most important, the complete plan.

775
00:36:10,040 --> 00:36:12,120
Speaker 2: What I'm saying is that's what I just did, is

776
00:36:12,160 --> 00:36:15,160
Speaker 2: is pieces right, and they don't put them all together.

777
00:36:15,239 --> 00:36:15,560
Speaker 2: That's the thing.

778
00:36:15,600 --> 00:36:17,839
Speaker 3: How can you put together a puzzle together with just

779
00:36:17,880 --> 00:36:21,000
Speaker 3: one two pieces? That's why they're all important. You need

780
00:36:21,040 --> 00:36:24,279
Speaker 3: to have the whole, all the pieces put together so

781
00:36:24,280 --> 00:36:25,360
Speaker 3: you can see the big picture.

782
00:36:25,400 --> 00:36:27,480
Speaker 2: Is that right. Yeah, that's what I look at it. Yeah,

783
00:36:27,640 --> 00:36:28,319
Speaker 2: that's why what.

784
00:36:28,239 --> 00:36:30,640
Speaker 3: We do is what we do, and we've been passionate

785
00:36:30,680 --> 00:36:32,160
Speaker 3: about this. We've been doing it for so many years.

786
00:36:32,160 --> 00:36:33,960
Speaker 3: We have offices on both sides of the day. We

787
00:36:34,000 --> 00:36:36,680
Speaker 3: do a TV show every Sunday on ABC TV at

788
00:36:36,680 --> 00:36:40,120
Speaker 3: ten thirty am on ABC tune in, and obviously our

789
00:36:40,200 --> 00:36:42,719
Speaker 3: radio show why because we want to educate you. There's

790
00:36:42,760 --> 00:36:45,160
Speaker 3: so much there to talk about. So throughout today we

791
00:36:45,200 --> 00:36:49,239
Speaker 3: talked about income sequencing, We're going to take money out, rowthology,

792
00:36:49,400 --> 00:36:51,759
Speaker 3: the best best time to do a Roth conversion. We

793
00:36:51,800 --> 00:36:54,879
Speaker 3: also talk about sol security maximization. So this is why

794
00:36:54,920 --> 00:36:57,600
Speaker 3: it's so important to get the Maggie plan, income planning,

795
00:36:58,000 --> 00:37:02,680
Speaker 3: tax planning, investment plan, legacy planning, a state planning give

796
00:37:02,719 --> 00:37:05,120
Speaker 3: us a called a three to three Maggie tax.

797
00:37:05,360 --> 00:37:07,880
Speaker 2: So now you know what most retires never hear. But

798
00:37:08,040 --> 00:37:10,640
Speaker 2: knowing isn't enough. And the people who win in retirement

799
00:37:10,680 --> 00:37:12,439
Speaker 2: I said this before, are the ones who act while

800
00:37:12,440 --> 00:37:15,080
Speaker 2: they still have time. In today's show, made you think

801
00:37:15,360 --> 00:37:17,600
Speaker 2: or rethink your plan, That's what we were trying to do.

802
00:37:17,640 --> 00:37:20,520
Speaker 2: If you realize you might be exposed to hire taxes,

803
00:37:20,760 --> 00:37:23,840
Speaker 2: if you want a retirement strategy built around clarity instead

804
00:37:23,840 --> 00:37:26,400
Speaker 2: of guesswork, then this is your moment to take control

805
00:37:26,640 --> 00:37:30,120
Speaker 2: a three to three Magi tax. Call us today, schedule

806
00:37:30,160 --> 00:37:33,040
Speaker 2: your appointment. Operators are standing by right now, and let's

807
00:37:33,040 --> 00:37:36,320
Speaker 2: build a plan that protects your income, reduces your taxes,

808
00:37:36,560 --> 00:37:39,279
Speaker 2: and gives you confidence for the decades ahead. And this

809
00:37:39,360 --> 00:37:41,160
Speaker 2: is what you have to do. And make sure you're

810
00:37:41,239 --> 00:37:43,759
Speaker 2: right back here next week because we dive into so

811
00:37:43,840 --> 00:37:46,680
Speaker 2: many topics, most strategies that can transform the way you

812
00:37:46,760 --> 00:37:49,399
Speaker 2: rethink your life and your retirement. Eight three to three

813
00:37:49,600 --> 00:37:54,120
Speaker 2: Maggie Tax and unlike. Then, stay sharp, stay proactive, and

814
00:37:54,239 --> 00:37:57,200
Speaker 2: keep building the retirement that you deserve. A three to

815
00:37:57,200 --> 00:38:00,280
Speaker 2: three Magie Tax. That's a three to three Maggie texx.

816
00:38:04,440 --> 00:38:07,239
Speaker 1: Thank you for listening to Maggie Tax and Financial Show

817
00:38:07,320 --> 00:38:11,080
Speaker 1: with Robert and Chris Maggie of Maggie Tax Wealth Advisors.

818
00:38:11,160 --> 00:38:14,480
Speaker 1: Listen here five to six pm every Saturday and from

819
00:38:14,480 --> 00:38:17,680
Speaker 1: eleven am till noon every Sunday, or anytime on the

820
00:38:17,719 --> 00:38:21,240
Speaker 1: free iHeartRadio app. And remember you can pay less tax

821
00:38:21,400 --> 00:38:25,239
Speaker 1: with Maggie Tax Program. Content provided by Maggie Tax Wealth

822
00:38:25,280 --> 00:38:28,640
Speaker 1: and Advisors. Call them at eight three three Maggie Tax,

823
00:38:28,840 --> 00:38:34,400
Speaker 1: or visit them online at maggietax dot com.