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

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

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

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

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

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

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

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

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Speaker 1: your retirement nest day from Uncle Sam. Call them at

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

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

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

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Speaker 2: Welcome everyone, and thanks for joining us today. My name

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Speaker 2: is Robert Maggie and you're listening to the Maggie Tax

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Speaker 2: and Financial Show. I'm here with my son and co host,

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Speaker 2: Chris Maggie. Be sure to visit our website, Maggie Tax

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Speaker 2: dot com. We have a lot of information there. We're

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Speaker 2: going to talk about what we do the Maggie Plan.

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Speaker 3: Today.

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Speaker 2: We're going to talk about holistic approach and we're going

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Speaker 2: to talk our division, so you all know what we do.

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Speaker 3: We've helped a.

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Speaker 2: Lot of people understand retirement and a lot of people

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Speaker 2: that come in are confused and they have questions about

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Speaker 2: should I, you know, start saving for retirement now? When

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Speaker 2: is it the right time? And Chris, this is questions

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Speaker 2: that we get every day. But be sure again to

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Speaker 2: visit our website, Maggie tax dot com and we'll be

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Speaker 2: happy to answer any questions.

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Speaker 4: Welcome everyone. I am Chris Maggie and I'm here and

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Speaker 4: I thank you so much for listening to the show.

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Speaker 4: You know, we do what we do because we're passionate

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Speaker 4: about helping people. There's a lot to retirement, there's a

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Speaker 4: lot to income planning, there's a lot to investment planning,

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Speaker 4: a state planning, and what we find many times that

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Speaker 4: people just have an incomplete plan. And that's what's really

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Speaker 4: upsetting because a lot of people are older, a lot

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Speaker 4: of people are setting their ways, but they don't have

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Speaker 4: the documents or even titling of their accounts set up

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Speaker 4: the right way. So today we're going to dive into

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Speaker 4: a lot of different things today to help you because

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Speaker 4: you need to know. You know, we live in a

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Speaker 4: EOO economy, you're on your own, and you know who's

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Speaker 4: telling you to retitle your accounts the right way to

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Speaker 4: avoid probate. You know who's shown you a way to

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Speaker 4: have an income plan where you can have guaranteed income

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Speaker 4: sources coming in for the rest of your life. How

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Speaker 4: cool is it to wake up on the first of

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Speaker 4: the month, go out to the mailbox, grab a couple checks,

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Speaker 4: come back in, and then spend it for the next

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Speaker 4: thirty days and then do it all over again. How

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Speaker 4: cool would that be?

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Speaker 2: You know?

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Speaker 4: Think about your lifestyle, think about the comfort, think about

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Speaker 4: just the confidence you're going to have in retirement.

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Speaker 3: And that's what it's about.

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Speaker 4: So pick up the phone today, give us a call

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Speaker 4: eight three to three Maggie Tax. Visit our website at

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Speaker 4: Maggie tax dot com. There's so much information right there

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Speaker 4: at your fingertips and we can help you eight three

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Speaker 4: to three Magi Tax.

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Speaker 2: So we're going to talk about creating a plan. We

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Speaker 2: call it the Maggie Plan, and this is something that

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Speaker 2: can help everyone out there because each each division that

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Speaker 2: we have will address all the issues and concerns that

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Speaker 2: you have. So we begin by working with you to

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Speaker 2: identify your short and long term goals. And Chris, this

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Speaker 2: is interesting because when we ask people how much they

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Speaker 2: need for retirement, they don't know today the short term goal.

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Speaker 2: They're working, they're bringing money in, but what about later

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Speaker 2: on in retirement, what about their long term goals? How

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Speaker 2: much they're gonna need.

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Speaker 4: That's it, and that's where we start. And we start

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Speaker 4: with a balance sheet. We start to show you exactly

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Speaker 4: the accounts you have, whether you're taxable, whether they're non taxable.

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Speaker 4: And that's the other question. You know, a lot of

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Speaker 4: people come in and they have money that's infected with taxes,

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Speaker 4: all their money. So when taxes raise and increase in

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Speaker 4: the future, you know what, a lot of money's gonna

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Speaker 4: go to Uncle Sam instead of coming to you. So

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Speaker 4: we start with the balance sheet to educate you and

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Speaker 4: show you exactly where your money's at, what your income

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Speaker 4: looks like, to make it clear for you. Because many

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Speaker 4: people out there come in with piles of statements and

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Speaker 4: I got to stay in here and I got a

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Speaker 4: statement there, and I got a statement here. Well, it's confusing.

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Speaker 4: You really don't know really what it's gonna do. We're

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Speaker 4: gonna break that down for you. And educate you and

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Speaker 4: make it very simple on one page to show you

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Speaker 4: where your money's at.

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Speaker 2: And one more thing, Chris, that you're talking about. We

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Speaker 2: do bucket planning. And bucket planning consist of an income

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Speaker 2: plan and consist of a short term goal a long

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Speaker 2: term goal. And these are goals that you have and

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Speaker 2: you've got to let us know, and we use innovative

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Speaker 2: strategies and solutions. We understand tax planning. We can help

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Speaker 2: you there, and we continue to partner with you through

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Speaker 2: the changing landscape of your financial life because Chris, it

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Speaker 2: changes every year. So if you're not having a review,

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Speaker 2: then that's on you. We do reviews with our clients

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Speaker 2: because things change, right, and things change with the taxes,

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Speaker 2: the legislative risk that's out there, you know, the market

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Speaker 2: risk that's out there, and it goes on and on.

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Speaker 4: Am I right, absolutely, And that's why it's so important

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Speaker 4: to work with the right advisor. You mentioned a team, Well,

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Speaker 4: we have tax professionals, we have financial planners, we have

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Speaker 4: a state planning attorneys. There's a lot that we do

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Speaker 4: here to help you along the way. And no plan

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Speaker 4: is ever just set in a stone. You have to

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Speaker 4: change it. You have to be creative, you have to

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Speaker 4: be a chameleon and open to change. And the thing

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Speaker 4: about this whole thing is it's not about a product,

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Speaker 4: it's about a plan. And throughout today's show you're going

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Speaker 4: to hear we are complete planning, complete planning, not incomplete

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Speaker 4: planning like most people have. And it's not about how

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Speaker 4: much you have, it's about the want and desire to

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Speaker 4: put together a plan that you want in retirement.

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Speaker 3: So pick up the phone.

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Speaker 4: Today's schedule time to meet with us. We look forward

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Speaker 4: to working with you. You know, this is what it's about.

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Speaker 4: It's helping people do the right thing. And that's how

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Speaker 4: we're set up here at Maggie Tax Advisory and Financial Group.

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Speaker 4: We have our tax division, we have our insurance division,

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Speaker 4: we have our investment division, we have our state planning division.

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Speaker 4: These things we get to help you with, also Medicare

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Speaker 4: planning and college fund and funding. If you have any

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Speaker 4: grandkids or children wanting to go to school, we can

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Speaker 4: show you out to fund that in the most tax

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Speaker 4: efficient way.

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Speaker 2: So let's break it down to our financial division first, Chris,

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Speaker 2: because the services that we offer, let's talk about IRA

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Speaker 2: four oh one K and four H three B plans,

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Speaker 2: and these are qualified plans. If you are under fifty

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Speaker 2: nine and a half, you cannot roll them over or

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Speaker 2: take it out without a penalty, and we want to

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Speaker 2: try to avoid that. So if you go to a

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Speaker 2: website Maggie tax dot com, there is a correct way

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Speaker 2: to roll over you for a one K without getting

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Speaker 2: hit with a penalty. And the tax are some that

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Speaker 2: we would discuss as we go along. But if you

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Speaker 2: have those qualified plans, Chris talk about a lot of

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Speaker 2: times people don't even know they have them and they

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Speaker 2: just sit there doing nothing.

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Speaker 3: Well, it's it.

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Speaker 4: You might work for a company or companies along the

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Speaker 4: way and spend two years there, five years there, and

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Speaker 4: they have a retirement plan that you're contributing to, or

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Speaker 4: if not, maybe they are contributing to the plan for

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Speaker 4: you and you just don't know. But again, they do

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Speaker 4: educate you and tell you that you do have this option.

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Speaker 4: But many people are so engulfed in working data day

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Speaker 4: that they forget about these plans that they have and

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Speaker 4: retirement accounts. So one thing that we talk about is

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Speaker 4: making sure that you roll over these accounts and consolidate

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Speaker 4: into the right spot and an individual retirement account or

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Speaker 4: an IRA is a nice spot to consolidate, and then

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Speaker 4: we can talk about bucket planning. How do you invest

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Speaker 4: those funds in the most tax efficient way and also

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Speaker 4: in a risk tolerance way. You want to make sure

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Speaker 4: that you're taking the right amount of risk with your money.

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Speaker 4: And that's what we'd call bucket planning. And we'll get

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Speaker 4: into red money and green money throughout today's show, but

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Speaker 4: that's where you start. And you want to make sure

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Speaker 4: that these accounts, if you have iras and form one case,

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Speaker 4: that these accounts are rolled over the right way. But

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Speaker 4: also now you can take the next step and maybe

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Speaker 4: start converting them to tax free buckets, which we can

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Speaker 4: show you as well.

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Speaker 3: Yeah, and that's when they was going to bring up too.

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Speaker 2: But the other side of it is a lot of

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Speaker 2: you have I guess the luxury if you will, that

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Speaker 2: you could put money in in the company matches and

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Speaker 2: a lot of times we see you put in more

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Speaker 2: than the match.

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Speaker 3: Well, we could show you a strategy.

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Speaker 2: And concept that might work better than taking that money

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Speaker 2: that's over the match and put it into something that's

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Speaker 2: going to grow tax free, come out tax free, and

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Speaker 2: you don't have to worry about the market risk, which

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Speaker 2: is where I'm going to Chris. Everything that we do

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Speaker 2: is managing risk, and we do a risk tolerance form

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Speaker 2: for every client because I would say, and you could

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Speaker 2: agree with me, many people don't know what kind of

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Speaker 2: risk they're taking.

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Speaker 4: That correct absolutely, and that's the thing we see each

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Speaker 4: and every day because many people have these accounts and

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Speaker 4: they just haven't touched it. They haven't looked at it

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Speaker 4: for years, months, whatever it is. And maybe five years

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Speaker 4: ago they were more had the ability to take more risk,

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Speaker 4: but now you know, safety is important to them, or

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Speaker 4: they want to dial that back a little bit, or

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Speaker 4: the volatility in the market has scared people.

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Speaker 3: Who knows.

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Speaker 4: But the bottom line is making sure that you have

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Speaker 4: the right amount of risk with your money. So pick

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Speaker 4: up the phone, schedule time to meet with us. Let's

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Speaker 4: look at your risk. It's called the risk tolerance evaluation.

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Speaker 4: And what we're going to do is really dissect your

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Speaker 4: risk tolerance and see, you know how much risk you

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Speaker 4: can take and maybe it's not a lot, but then

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Speaker 4: then you want to go ahead and make sure that

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Speaker 4: you're in the right spots so you're not taking that risk.

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Speaker 4: But on the flip side, if you want to take

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Speaker 4: a risk with your accounts then and you're in a

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Speaker 4: conservative investment, then you need to change that too. So

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Speaker 4: let's talk about it. Let's sit down, have a conversation

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Speaker 4: eight three to three Magi techs.

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Speaker 2: And along in the financial service that we are for,

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Speaker 2: you have social security to consider. How are you going

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Speaker 2: to be planning for social security to max it out

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Speaker 2: retirement income? These are the income buckets that you need

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Speaker 2: to look at. And then also the big thing I

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Speaker 2: think is important, Chris, is the income planning. How much

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Speaker 2: income do you need in retirement? So in all the

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Speaker 2: financial puzzle, if we call it, you have to look

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Speaker 2: at these areas, each one of them and see if

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Speaker 2: that's going to be the right thing to do for retirement.

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Speaker 2: And by the way, don't wait until you retire to

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Speaker 2: do this. This is not the right way to do it.

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Speaker 3: Absolutely.

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Speaker 4: So that's why with a Maggi Tax Advisor, Financial group,

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Speaker 4: complete planning. We have a financial division. You know, we

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Speaker 4: do iras, social Security maximization, income planning, retirement planning. We

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Speaker 4: have our tax division. We do tax preparation. Tax planning

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Speaker 4: strategies help people reduce their taxes income on a most

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Speaker 4: tax efficient way. Our insurance division where we can do

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Speaker 4: life insurance. We could do safe annuities like index annuities

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Speaker 4: or fixed annuities, long term care, funeral trust, what about

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Speaker 4: medicare so many different options, especially if you're about to

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Speaker 4: approach sixty five College funding we do for a lot

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Speaker 4: of families out there wanting their kids to go to

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Speaker 4: school in the most tax efficient way. And then also

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Speaker 4: we have a state planning attorneys that work with us

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Speaker 4: do the wills, the trust, the power of attorneys. You know,

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Speaker 4: think about this, If you have a will that's outdated

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Speaker 4: for so many years, do you think it's time to

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Speaker 4: get it updated.

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Speaker 3: Well.

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Speaker 4: Proper beneficiaries is so important on all your accounts. So

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

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Speaker 4: We can help you out income planning, tax planning, investment planning,

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Speaker 4: college fund planning, social security maximization planning. Get the Maggie Plan.

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Speaker 4: It's a plan that's simple and easy for you to understand.

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Speaker 4: Maggie Tax dot Com. Pick up the phone, schedule time

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Speaker 4: to meet with us eight three to three. Maggie Tax.

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Speaker 4: We have office on both sides of the Bay, very

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Speaker 4: convenient for you to meet with us. Eight three three

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Speaker 4: 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: Meaggie Tax and Wealth Advisors. For information on how you

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

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

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

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Speaker 2: Welcome back and thanks for joining us today. My name

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

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Speaker 2: co host. Don't forget to visit our website, Maggie Tax

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Speaker 2: dot com and also where every Sunday on Channel ABC

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Speaker 2: TV at ten thirty tune into The Maggie Tax and

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Speaker 2: Financial Show. And when you're on our website, Maggie Tax

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Speaker 2: dot com, click on the retirement tax calculator up top.

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Speaker 3: If you have an IRA A four oh one k

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Speaker 3: A four to three B.

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Speaker 2: A step Plan, TSP, any qualified plan, click in the

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Speaker 2: information in thirty seconds will show you what your retirement

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Speaker 2: tax bill will be. And then let's sit down and

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Speaker 2: have a conversation. Because it helps to use your own

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Speaker 2: common sense to reason out the best course of action

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Speaker 2: for you and your family and even your business. Because

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Speaker 2: if you know there are strategies and concepts to use,

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Speaker 2: it's going to help you on This process doesn't take

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Speaker 2: that long.

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Speaker 3: What we're going to be doing.

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Speaker 2: We've been asking you questions to help you organize your

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Speaker 2: thinking so you can discover on your own. And this

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Speaker 2: is what it's about. If someone tells you, you're not

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Speaker 2: going to listen. But if I can educate you and

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Speaker 2: Chris can explain what the strategies and concepts are and

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Speaker 2: involve you, I think you'll feel better about it and

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Speaker 2: the most beneficial strategy for you. So we have the

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Speaker 2: Maggie Plan, we have the chat box on our website,

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Speaker 2: we have the Retirement Tax calculator. So Chris we can

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Speaker 2: help and it's much easier process to schedule the time

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Speaker 2: and ask us questions and see if we can come

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Speaker 2: up with a solution.

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Speaker 4: You know, many things are happening out there and you

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Speaker 4: can really gain insight very quickly about the manipulations of

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Speaker 4: the government influent information and we see it, right, so

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Speaker 4: what are you doing about it? It's called legislative risk.

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Speaker 4: That's when the government can change the rules whenever they want.

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Speaker 4: So again, it puts you in position where you have

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Speaker 4: to fall victim to them, But not if you already

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Speaker 4: have things set up. And we're talking about even taxes

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Speaker 4: and tax free buckets. Do you have tax free buckets?

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Speaker 4: Some people com meet with they have no tax free buckets.

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Speaker 4: They have a lot of money that's infected with taxes,

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Speaker 4: meaning that when you start taking a distribution in the future,

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Speaker 4: when you're retired or when you need income, guess what

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Speaker 4: you're gonna be hit with the high taxes. You're gonna

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Speaker 4: be hit with those taxes that you're gonna pay out

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Speaker 4: question mark or an unknown tax rate. Do you want

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Speaker 4: to be in that position? You know, what if you

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Speaker 4: need twenty grant and what if now you're thinking, oh,

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Speaker 4: I got to just take out twenty three thousand to

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Speaker 4: net the twenty thousand. That it might be okay today,

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Speaker 4: but what about in the future when you have to

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Speaker 4: take out twenty seven or twenty eight thousand so you

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Speaker 4: net that twenty Guess what that's more to Uncle Sam

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Speaker 4: less to you. How long will you money last? If

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Speaker 4: this is the case, That's what we're talking about. Legislative

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Speaker 4: risk things will change, and it's so important to get together.

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Speaker 4: Let's have a conversation, talk about you, talk about your

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Speaker 4: situation and what you want to achieve. Eight three to

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Speaker 4: three Maggie, tax and.

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Speaker 3: Think about this.

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Speaker 2: There are many ways that governments manipulate taxes and pensions

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Speaker 2: in healthcare. So let me talk about this. Do you

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Speaker 2: all know the financial state of the Union? About the

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Speaker 2: financial state of the states, and the financial state of

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Speaker 2: the cities, and the pension database. The financial state of

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Speaker 2: the Union is terrifying. The federal government will require much

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Speaker 2: more revenue in the future, and that taxes alone will

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Speaker 2: not even come close to covering the shortfall, and we're

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Speaker 2: going to have to print enormous amounts of money to

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Speaker 2: provide the promise benefits. Well, guess what we'll see our

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Speaker 2: government renege on the promise benefits by reducing those benefits.

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Speaker 2: They're doing it now. That's called legislature risk. They can

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Speaker 2: do what they want whenever they want. So what are

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Speaker 2: you doing about it? What are you doing about market

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Speaker 2: risk that Chris talks about? What are you doing about

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Speaker 2: income risk? What happens when you have to pay more

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Speaker 2: taxes and have less income. Have you thought about that?

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Speaker 2: What about tax risk. We've discussed what the government can

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Speaker 2: do and we'll do. It's called legislature risk. Write that down,

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Speaker 2: and Chris, this is where the fear comes. They don't

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Speaker 2: understand what's behind the curtain that's going to be coming

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Speaker 2: up very soon.

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Speaker 4: My gosh, you know, listening to you today and hearing

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Speaker 4: what you just said, I mean people just need to

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Speaker 4: stop and think for a minute. You mentioned a lot

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Speaker 4: of different risks income risk, market risk, legislative risk, tax risk.

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Speaker 4: Holy moly, thinking about those things, and there's more and

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Speaker 4: there's more, right, but I'm getting fearful thinking about those

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Speaker 4: if I didn't have a plan. But if I had

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Speaker 4: a plan, then guess what. You move on and you

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Speaker 4: moveing on with confidence. And that's where you can be too.

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Speaker 4: So when you come to meet with us, we can

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Speaker 4: design income buckets. We can design how to have pay

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Speaker 4: less taxes in the future, and what we talk about,

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Speaker 4: we can design buckets that don't have the market risk.

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Speaker 4: We can design buckets that do have market risk if

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Speaker 4: you want that. So what is it that you want?

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Speaker 4: This is your plan when you come to meet with us.

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Speaker 4: We call it the Maggie Plan, but it's really your plan.

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Speaker 4: It's planned because it's what you will decide on what

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Speaker 4: you want to do. How much safety do you want,

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Speaker 4: how much risk do you want, how much income do

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Speaker 4: you want? How much taxes do you want to pay?

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Speaker 4: If not, we can show you how to do that

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Speaker 4: in the most tax division way. We talk about risks

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Speaker 4: out there, take a deep breath, because they can be

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Speaker 4: solved with the right planning. And that's what we can do.

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

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Speaker 4: Eight three to three, Maggie Tacks.

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Speaker 2: Let me throw you some heartbreaking information out there. Because

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Speaker 2: the US government has only four point eight nine trillion

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Speaker 2: of assets available. Listen to this to pay bills totaling

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Speaker 2: one three eight point twenty eight trillion. So let's break

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Speaker 2: that down and total, and we can show you what's

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Speaker 2: unfunded liabilities. Our followers think about it, and this is

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Speaker 2: what many people don't think about. Medicare benefits fifty eight

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Speaker 2: point one trillion, Social Security benefits forty five point four trillion,

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Speaker 2: publicly held debt twenty two point three four, retirement benefits

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Speaker 2: ten point eighteen. So the whole total comes to like

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Speaker 2: one one hundred and thirty eight point two eight trillion

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Speaker 2: do those numbers even make sense to you? Because probably

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Speaker 2: it doesn't. But let me ask you, does the government

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Speaker 2: desperately need this money? And will they go after people

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Speaker 2: with money or people who don't have munchy?

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Speaker 4: Stop for a second. Who has the money? Everyone thinks

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Speaker 4: about the millionaires out there and the billionaires out there. Yeah,

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Speaker 4: they got the money, but guess where the money's at?

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Speaker 4: People who have iras four one k's, four O three b's,

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Speaker 4: thrift savings plans. All these retirement accounts accounts have not

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Speaker 4: been taxed yet. So do you think it's very simple

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Speaker 4: for them called legislative risk to change it and increase

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Speaker 4: the tax rate on these accounts Because it's very simple.

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Speaker 4: They know how much money is out there in pre

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Speaker 4: tax money accounts that are infected with taxes, so they

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Speaker 4: can increase this to get the revenue they want and

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Speaker 4: continue to spend. So they're going to accomplish what they

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Speaker 4: want to do. But what about you? You know you're

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Speaker 4: gonna be in the situation we have to pay more

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Speaker 4: in taxes and you don't have to. And that's what

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Speaker 4: we call the government plan. Do you have the government plan?

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Speaker 4: If so?

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Speaker 3: Why? Why so?

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Speaker 4: If you have choices to make sure it's better for

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Speaker 4: you and your families. So pick up the phone, schedule

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Speaker 4: time to meet with us. Visit our website at Maggie

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Speaker 4: tax dot com. There's so much information right there upright

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Speaker 4: hand corner of retirement, tax savings and time bomb. It's

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Speaker 4: gonna blow up because of taxes. What are you gonna

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Speaker 4: do about it? So you can calculate your taxes today.

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Speaker 4: We can show you what your tax bomb is today.

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Speaker 4: So get the Maggie Plan. It's the income plan, it's

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Speaker 4: tax planning, it's investment planning, it's income planning. This is

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Speaker 4: what we're talking about, a state planning. There's a lot

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Speaker 4: there to help you. So pick up the phone, schedule

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Speaker 4: a time to meet with us A three three Maggie Tax,

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Speaker 4: and don't forget tune in every Sunday on ABC TV

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Speaker 4: for the Maggie Tax and Financial Show thirty minutes to

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Speaker 4: educate you right there on ABC at ten thirty every Sunday.

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Speaker 4: Visit our website maggatax dot com. That's eight three to

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Speaker 4: three Maggie Tax Schedule time met with us, eight three

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Speaker 4: three Maggie Tax.

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

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

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

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

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

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Speaker 1: Magie 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.

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Speaker 2: You're listening 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: Chris Maggie. So we're going to talk about a lot

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Speaker 2: of things. Don't forget watch your TV show every Sunday

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Speaker 2: at ten thirty am on ABCTV, and be sure to

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Speaker 2: visit Maggie Tax dot com. And if you want to

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Speaker 2: make an appointment to see us, we have operated standing

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Speaker 2: by right now.

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Speaker 3: Give us a call eight three three Magie Tax. So

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Speaker 3: let's talk about the tax.

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Speaker 2: Freight train, because it's coming, and the tax freight train

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Speaker 2: that's bearing down on your retirement has picked up speed

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Speaker 2: and there's no stopping it.

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00:19:41,359 --> 00:19:41,560
Speaker 3: Now.

440
00:19:41,640 --> 00:19:45,440
Speaker 2: We call it legislative risk, where the Congress can change

441
00:19:45,440 --> 00:19:47,400
Speaker 2: your rules at any time and be ready for this.

442
00:19:47,440 --> 00:19:50,399
Speaker 2: We're talking about twenty twenty six when the Trump tax

443
00:19:50,400 --> 00:19:53,520
Speaker 2: cuts expired. So who's going to pay this huge tax

444
00:19:53,520 --> 00:19:56,760
Speaker 2: bill when it arrives? So will billionaires pay for it?

445
00:19:57,080 --> 00:20:01,080
Speaker 2: I don't really think so. How about major cooperation? Probably not.

446
00:20:01,760 --> 00:20:04,480
Speaker 2: And it's going to be every day American's like you

447
00:20:04,520 --> 00:20:07,679
Speaker 2: listening to our show today, and probably everyone listening to

448
00:20:07,720 --> 00:20:10,159
Speaker 2: the show has a question like who's going to pay it?

449
00:20:10,200 --> 00:20:11,800
Speaker 3: How am I going to pay it? So?

450
00:20:11,880 --> 00:20:14,400
Speaker 2: What are you doing about it? And when the tax

451
00:20:14,440 --> 00:20:17,439
Speaker 2: train arrives at your station? We can help. We do

452
00:20:17,640 --> 00:20:20,359
Speaker 2: an after tax statement. We can do in the after

453
00:20:20,400 --> 00:20:22,840
Speaker 2: tax statement, explain what your debt will be to the

454
00:20:22,920 --> 00:20:25,000
Speaker 2: irs and Chris, all they have to do is call

455
00:20:25,080 --> 00:20:27,440
Speaker 2: eight three to three Maggie tax. Because I know I'm

456
00:20:27,480 --> 00:20:29,760
Speaker 2: trying to make this simple, but it's not simple. It's

457
00:20:29,840 --> 00:20:32,520
Speaker 2: very difficult based on the amount of money people have

458
00:20:32,640 --> 00:20:33,720
Speaker 2: in retirement accounts.

459
00:20:33,720 --> 00:20:34,280
Speaker 3: Am I right or wrong?

460
00:20:34,359 --> 00:20:35,639
Speaker 4: Yeah, let's just make it very simple. If you have

461
00:20:35,640 --> 00:20:37,840
Speaker 4: a four one K and IRA four forty seven plan,

462
00:20:38,000 --> 00:20:40,320
Speaker 4: you have an account. These accounts are infected with tax.

463
00:20:40,400 --> 00:20:42,840
Speaker 4: So what my dad's talking about here is you might

464
00:20:42,880 --> 00:20:46,040
Speaker 4: not think about it now, You might not really have

465
00:20:46,160 --> 00:20:48,280
Speaker 4: this in the front of your mind. But you have

466
00:20:48,359 --> 00:20:50,600
Speaker 4: these accounts growing, you might look at them. You might

467
00:20:50,640 --> 00:20:53,000
Speaker 4: not because you might be in the accumulation mode or

468
00:20:53,119 --> 00:20:56,840
Speaker 4: growing and working and really just not even thinking about it.

469
00:20:56,840 --> 00:21:00,399
Speaker 4: But what you've done is, Yeah, that train has picked

470
00:21:00,480 --> 00:21:03,240
Speaker 4: up speed. What I mean by that is a train

471
00:21:03,280 --> 00:21:05,800
Speaker 4: where you can't stop it in the future. And what's

472
00:21:05,800 --> 00:21:08,600
Speaker 4: gonna happen is that those accounts, as they grow and

473
00:21:08,640 --> 00:21:11,000
Speaker 4: they get bigger and bigger and bigger and bigger and bigger,

474
00:21:11,720 --> 00:21:13,960
Speaker 4: they're gonna have to pay and they're gonna get huge,

475
00:21:13,960 --> 00:21:15,640
Speaker 4: they're gonna get whacked by taxes.

476
00:21:16,080 --> 00:21:16,880
Speaker 2: And that's the thing.

477
00:21:16,920 --> 00:21:19,720
Speaker 4: You can't stop that train, and it's gonna be a

478
00:21:19,720 --> 00:21:22,760
Speaker 4: hard crash at the end when you need the money

479
00:21:22,800 --> 00:21:25,760
Speaker 4: the most, when you start taking out those funds, you

480
00:21:25,880 --> 00:21:28,879
Speaker 4: have to pay Uncle Sam and the irs. And that's

481
00:21:28,920 --> 00:21:32,040
Speaker 4: why we're talking about this, and your advisor might not

482
00:21:32,119 --> 00:21:34,760
Speaker 4: be thinking about it today, but we are. That's why

483
00:21:34,840 --> 00:21:36,600
Speaker 4: it's so important to get a second opinion, pick up

484
00:21:36,640 --> 00:21:38,959
Speaker 4: the phone, schedule time to meet with us. We met

485
00:21:39,000 --> 00:21:41,320
Speaker 4: with a client last week forty eight and forty five.

486
00:21:41,600 --> 00:21:43,560
Speaker 4: They get almost a million dollars sitting in their form

487
00:21:43,560 --> 00:21:46,640
Speaker 4: one ks and iras and the guy separated from his job.

488
00:21:46,760 --> 00:21:48,240
Speaker 4: So now he has the form one K and he

489
00:21:48,320 --> 00:21:50,720
Speaker 4: rolled it over to his IRA. So he said to me,

490
00:21:50,760 --> 00:21:53,640
Speaker 4: he said, well, what do I do? I said, first off,

491
00:21:53,720 --> 00:21:55,840
Speaker 4: let's talk about the risk and what you want your

492
00:21:55,840 --> 00:21:58,560
Speaker 4: accounts to do. But second off, you know you don't

493
00:21:58,560 --> 00:22:00,400
Speaker 4: have a million bucks here. You got to out maybe

494
00:22:00,440 --> 00:22:02,359
Speaker 4: six fifty. And he looked at me and he said, well,

495
00:22:02,359 --> 00:22:03,879
Speaker 4: what do you mean, no, we got a million bucks?

496
00:22:04,160 --> 00:22:07,320
Speaker 4: I said no, not because you have to pay taxes

497
00:22:07,400 --> 00:22:09,960
Speaker 4: at some points the after tax statement. So when you

498
00:22:10,000 --> 00:22:11,480
Speaker 4: come in to meet with us, we're going to show

499
00:22:11,480 --> 00:22:14,639
Speaker 4: you that. But the story behind this is that he

500
00:22:15,200 --> 00:22:18,000
Speaker 4: said it was an AHA moment for him and his wife.

501
00:22:18,359 --> 00:22:20,280
Speaker 4: He said, you know what, no one's ever talked about this.

502
00:22:20,840 --> 00:22:22,640
Speaker 4: We need to start getting this money out. Now, how

503
00:22:22,640 --> 00:22:24,640
Speaker 4: do we do it? What's the most tax efficient way

504
00:22:24,680 --> 00:22:26,880
Speaker 4: we can do this? So now we have tax free

505
00:22:26,960 --> 00:22:29,520
Speaker 4: money moving forward. And that's what they did. So we

506
00:22:29,600 --> 00:22:32,399
Speaker 4: created buckets of tax free money. We paid the little

507
00:22:32,720 --> 00:22:35,760
Speaker 4: tax on the most strategic way about going about doing it,

508
00:22:36,000 --> 00:22:37,600
Speaker 4: and we can do the same thing for you. Eight

509
00:22:37,640 --> 00:22:39,440
Speaker 4: three to three Maggie tax And let me give.

510
00:22:39,320 --> 00:22:41,720
Speaker 2: You another example. We met with a couple the other

511
00:22:41,800 --> 00:22:44,200
Speaker 2: day and here's what they did. They had IRA money

512
00:22:44,600 --> 00:22:47,359
Speaker 2: and they had ROTH money, and we did their tax

513
00:22:47,400 --> 00:22:49,880
Speaker 2: return and we showed them that if they took money

514
00:22:49,880 --> 00:22:53,199
Speaker 2: out of the IRA up to the tax bracket they're in,

515
00:22:53,960 --> 00:22:55,760
Speaker 2: they would pay almost the same amount of tax, but

516
00:22:55,840 --> 00:22:57,800
Speaker 2: now positioned into a tax free account.

517
00:22:58,440 --> 00:23:01,200
Speaker 3: So she asked me, is that really a benefit?

518
00:23:01,320 --> 00:23:03,440
Speaker 2: So we'll think about it in three years if the

519
00:23:03,760 --> 00:23:07,399
Speaker 2: Trump tax cuts expire, you're going to have less taxable

520
00:23:07,440 --> 00:23:09,240
Speaker 2: money when you have to come out. And the other

521
00:23:09,280 --> 00:23:11,119
Speaker 2: thing is she's going to be seventy two in a

522
00:23:11,160 --> 00:23:13,159
Speaker 2: couple of years once she has to take out to

523
00:23:13,240 --> 00:23:15,200
Speaker 2: R and D. So I showed her that she would

524
00:23:15,200 --> 00:23:17,520
Speaker 2: take less out of the IRA and she would have

525
00:23:17,560 --> 00:23:20,560
Speaker 2: more tax free money in the Roth. Christen, it kind

526
00:23:20,560 --> 00:23:23,359
Speaker 2: of just blew her away because she had no idea.

527
00:23:23,400 --> 00:23:26,000
Speaker 2: And I keep telling people you have a window between

528
00:23:26,040 --> 00:23:28,719
Speaker 2: now and twenty twenty six to do strategic planning.

529
00:23:28,800 --> 00:23:30,959
Speaker 4: That's exactly right. So the question that we have for

530
00:23:31,000 --> 00:23:33,399
Speaker 4: you is do you honestly know how much tax you

531
00:23:33,440 --> 00:23:37,560
Speaker 4: will have to pay your partner the irs? So think

532
00:23:37,560 --> 00:23:40,080
Speaker 4: about that for a minute. If you don't, unless you

533
00:23:40,119 --> 00:23:43,040
Speaker 4: can predict what the tax rates will be in the future.

534
00:23:43,119 --> 00:23:45,639
Speaker 4: That's what we're talking about. That's the big unknown. It's

535
00:23:45,680 --> 00:23:48,119
Speaker 4: a question mark unknown. We have no idea what the

536
00:23:48,200 --> 00:23:50,000
Speaker 4: tax rate's going to be in the future. So you

537
00:23:50,080 --> 00:23:54,119
Speaker 4: grow these accounts tax deferred. Yeah, it might be fifteen

538
00:23:54,160 --> 00:23:56,200
Speaker 4: percent to take the money out today, but it might

539
00:23:56,240 --> 00:23:59,040
Speaker 4: be thirty five percent in the future. It might be

540
00:23:59,520 --> 00:24:01,520
Speaker 4: depending on tax bracket. It might be twenty five percent

541
00:24:01,560 --> 00:24:03,919
Speaker 4: today for you, depending on the income that you have,

542
00:24:04,040 --> 00:24:06,040
Speaker 4: but it might be forty five percent in the future.

543
00:24:06,320 --> 00:24:09,400
Speaker 4: So you have no idea. And that's the scary part

544
00:24:09,440 --> 00:24:11,639
Speaker 4: of this whole thing. Why would you want to be

545
00:24:11,640 --> 00:24:15,120
Speaker 4: in a scary environment in the future and an unknown environment.

546
00:24:15,160 --> 00:24:17,600
Speaker 2: Well you don't have to, but christie with that, because

547
00:24:18,040 --> 00:24:19,800
Speaker 2: I'll give you a real to me an example that

548
00:24:20,040 --> 00:24:22,960
Speaker 2: makes sense. Open your window like a quarter of the

549
00:24:23,000 --> 00:24:26,040
Speaker 2: way and that's how much time you have left before

550
00:24:26,040 --> 00:24:29,280
Speaker 2: that window closes. To stay in the tax brackets you're in,

551
00:24:29,560 --> 00:24:32,600
Speaker 2: pay the least the amount of tax, and when that closes,

552
00:24:32,640 --> 00:24:34,480
Speaker 2: you're going to have all tax free money.

553
00:24:34,800 --> 00:24:36,120
Speaker 3: What is wrong with that?

554
00:24:36,119 --> 00:24:38,359
Speaker 4: That's exactly right. So that's why we're talking about this.

555
00:24:38,480 --> 00:24:41,560
Speaker 4: If your advisor is not talking about tax free buckets.

556
00:24:42,480 --> 00:24:44,520
Speaker 4: You really got to start thinking about where you're with

557
00:24:44,560 --> 00:24:48,200
Speaker 4: the right advisor, because when you don't talk about taxes,

558
00:24:48,240 --> 00:24:52,360
Speaker 4: that's our biggest expense. So, yeah, anyone can accumulate your money.

559
00:24:52,400 --> 00:24:56,280
Speaker 4: You can accumulate yourself. You don't need an advisor to accumulate.

560
00:24:56,280 --> 00:24:58,520
Speaker 4: There's a whole bunch of growth things and investments you

561
00:24:58,560 --> 00:25:02,040
Speaker 4: can invest out there. But do you really know the

562
00:25:02,119 --> 00:25:04,520
Speaker 4: distribution phase or how to get the money out in

563
00:25:04,520 --> 00:25:07,080
Speaker 4: the most tax efficient way. That's what we're talking about.

564
00:25:07,119 --> 00:25:08,960
Speaker 4: So we can put together a complete plan. We could

565
00:25:08,960 --> 00:25:10,639
Speaker 4: do the investment side of this, We could do the

566
00:25:10,680 --> 00:25:14,040
Speaker 4: income planning, we could do the tax planning side, the

567
00:25:14,200 --> 00:25:17,639
Speaker 4: estate planning. And the big thing we ask everyone today

568
00:25:17,720 --> 00:25:20,960
Speaker 4: is do you know what you have? Do you know

569
00:25:21,080 --> 00:25:22,840
Speaker 4: how much you're going to pay in tax? And let's

570
00:25:22,840 --> 00:25:26,159
Speaker 4: just face the truth. If you have a tax deferred account,

571
00:25:26,560 --> 00:25:29,840
Speaker 4: you are a partners So you're in partnership with Uncle Sam.

572
00:25:30,920 --> 00:25:33,239
Speaker 4: They're gonna determine how much you get to spend in

573
00:25:33,320 --> 00:25:36,119
Speaker 4: retirement unless you do something about it.

574
00:25:36,320 --> 00:25:39,480
Speaker 2: Yeah, before the twenty twenty five Trump tax cuts expire,

575
00:25:39,480 --> 00:25:41,720
Speaker 2: and you know, for all of us, we were going

576
00:25:41,800 --> 00:25:44,720
Speaker 2: to have an increase in taxes. But I always ask

577
00:25:44,760 --> 00:25:47,480
Speaker 2: the question, what are you doing about it? Well, everybody's

578
00:25:47,520 --> 00:25:50,399
Speaker 2: complaining about it and moaning about it. Well that's not

579
00:25:50,520 --> 00:25:52,960
Speaker 2: the answer. Would you like to know? Give us a

580
00:25:53,000 --> 00:25:55,240
Speaker 2: call eight three to three Magi Tax. Let's sit down

581
00:25:55,520 --> 00:25:58,560
Speaker 2: and do an after tax statement. It doesn't cost you anything,

582
00:25:58,920 --> 00:26:01,640
Speaker 2: and visit Maggie tax dot com and schedule the time

583
00:26:01,680 --> 00:26:04,320
Speaker 2: that we can discuss what I call the tax freight

584
00:26:04,400 --> 00:26:07,440
Speaker 2: train eight three three, Maggie Tax. Because for years we've

585
00:26:07,440 --> 00:26:10,879
Speaker 2: been talking about the tax freight train bearing down on

586
00:26:10,960 --> 00:26:12,959
Speaker 2: all of us, and a lot of advisers are not

587
00:26:13,040 --> 00:26:15,840
Speaker 2: talking about that, talking about just you know, getting higher gains.

588
00:26:15,840 --> 00:26:18,879
Speaker 2: Well that's not true either. You know, we've been teaching

589
00:26:18,920 --> 00:26:20,879
Speaker 2: all of you how important it is to invest in

590
00:26:21,000 --> 00:26:24,119
Speaker 2: tax free accounts like a tax free wroth Well cash

591
00:26:24,160 --> 00:26:27,880
Speaker 2: value life insurance? Is your advisor talking about that? We've

592
00:26:27,880 --> 00:26:31,840
Speaker 2: helped many of you do strategic tax planning. Write that down,

593
00:26:31,960 --> 00:26:35,399
Speaker 2: strategic tax planning. What does strategic mean? You do it

594
00:26:35,400 --> 00:26:37,560
Speaker 2: in a way that you're going to benefit, Okay, to

595
00:26:37,640 --> 00:26:40,240
Speaker 2: avoid the tax freight train. And there's a movie all

596
00:26:40,320 --> 00:26:42,560
Speaker 2: of you should watch. It's called The Power of zero.

597
00:26:43,359 --> 00:26:46,080
Speaker 2: The tax train is coming and I personally have moved

598
00:26:46,080 --> 00:26:49,640
Speaker 2: my wealth to tax free accounts, including cash Value life

599
00:26:49,680 --> 00:26:52,560
Speaker 2: insurance and Roth tax free accounts. You should do the

600
00:26:52,600 --> 00:26:55,880
Speaker 2: same eight three to three Maggie Tax and visit Maggie

601
00:26:55,880 --> 00:26:56,840
Speaker 2: tax dot com.

602
00:26:56,960 --> 00:26:57,320
Speaker 3: Folks.

603
00:26:57,359 --> 00:26:59,600
Speaker 2: I have webinars on there that you can sit and

604
00:26:59,640 --> 00:27:01,480
Speaker 2: watch about the rowth and the four to one K

605
00:27:01,840 --> 00:27:04,120
Speaker 2: that Chris and I talk about every week. Sit down

606
00:27:04,160 --> 00:27:06,399
Speaker 2: for thirty minutes and take a look at it. And

607
00:27:06,520 --> 00:27:08,359
Speaker 2: you know there's a second risk that all of us

608
00:27:08,440 --> 00:27:10,639
Speaker 2: is going to be faced. It's called longevity risk. And

609
00:27:10,720 --> 00:27:13,960
Speaker 2: Chris no one talks about longevity risk absolutely. You know

610
00:27:14,000 --> 00:27:17,160
Speaker 2: all advisors talk about market risk. Well, what about sequence

611
00:27:17,200 --> 00:27:19,800
Speaker 2: of return risk? Do you know what that is?

612
00:27:19,840 --> 00:27:20,080
Speaker 4: You know?

613
00:27:20,200 --> 00:27:21,720
Speaker 3: We do? You know what?

614
00:27:22,119 --> 00:27:25,680
Speaker 4: What kind of risks are you associated with that you're

615
00:27:25,720 --> 00:27:28,960
Speaker 4: just not aware of? What about long term care risk?

616
00:27:29,600 --> 00:27:31,320
Speaker 4: Is your advisor talking about that?

617
00:27:31,640 --> 00:27:32,359
Speaker 3: Well, we do?

618
00:27:33,040 --> 00:27:35,800
Speaker 4: What about the big one inflation risk? And what about

619
00:27:36,000 --> 00:27:39,040
Speaker 4: legislative risk? Do you all know what that means? It's

620
00:27:39,040 --> 00:27:42,639
Speaker 4: when Congress can change the rules. Why are we entering

621
00:27:42,840 --> 00:27:46,200
Speaker 4: in the game of putting money into an IRA and

622
00:27:46,320 --> 00:27:49,040
Speaker 4: form one K where we don't even know.

623
00:27:48,960 --> 00:27:50,800
Speaker 3: What the rules are. That's wrong.

624
00:27:50,920 --> 00:27:53,240
Speaker 4: Why would you go into a board game without knowing

625
00:27:53,240 --> 00:27:56,440
Speaker 4: the rules, especially with your retirement. And I'm talking about

626
00:27:56,480 --> 00:27:59,560
Speaker 4: when the rules are not even established because they can

627
00:27:59,640 --> 00:28:03,400
Speaker 4: change it. Tax rates, Uncle Sam can change them. They

628
00:28:03,400 --> 00:28:05,720
Speaker 4: could be twenty five percent today, they could be forty

629
00:28:05,720 --> 00:28:08,400
Speaker 4: five percent tomorrow or in five years from now when

630
00:28:08,400 --> 00:28:10,919
Speaker 4: you need the money most. So why you playing the

631
00:28:11,000 --> 00:28:14,200
Speaker 4: game if you don't know the rules. They are written

632
00:28:14,240 --> 00:28:18,560
Speaker 4: in pencil. We can't just think about market returns and

633
00:28:18,680 --> 00:28:21,760
Speaker 4: risk that way. We have to start thinking about tax risk,

634
00:28:22,119 --> 00:28:24,680
Speaker 4: legislative risk. And that's what we're talking about. So pick

635
00:28:24,720 --> 00:28:26,879
Speaker 4: up the phone, schedule time to meet with us. A

636
00:28:27,000 --> 00:28:28,200
Speaker 4: three to three Maggie tax.

637
00:28:28,440 --> 00:28:31,560
Speaker 2: Yeah, And the antidote to a longevity risk is guaranteed

638
00:28:31,720 --> 00:28:36,760
Speaker 2: lifetime income inflation adjusted income. Who's talking to you about that?

639
00:28:36,760 --> 00:28:38,959
Speaker 2: That's why we talk about bucket planning, which we'll get

640
00:28:39,000 --> 00:28:41,640
Speaker 2: into on another show, because bucket planning is the most

641
00:28:41,760 --> 00:28:44,520
Speaker 2: powerful planning you could do. Where you have income and

642
00:28:44,600 --> 00:28:47,720
Speaker 2: you have growth, and then you have later money. Do

643
00:28:47,800 --> 00:28:49,800
Speaker 2: you know how much money you're gonna need in retirement?

644
00:28:49,840 --> 00:28:52,840
Speaker 2: Ask yourself that question, because that's the question we ask

645
00:28:52,880 --> 00:28:55,440
Speaker 2: every single one coming in Social Security pension?

646
00:28:55,480 --> 00:28:58,000
Speaker 3: Is that going to be enough? And if not, why not?

647
00:28:58,120 --> 00:29:01,200
Speaker 2: And here's what the myth and science show. A successful

648
00:29:01,200 --> 00:29:06,960
Speaker 2: retirement is not about asset allocation, diversification or rates of return. Yeah,

649
00:29:07,000 --> 00:29:09,640
Speaker 2: that was true during your accumulation phase, but stop and

650
00:29:09,680 --> 00:29:12,920
Speaker 2: think for a minute. What about during your retirement. It's

651
00:29:12,960 --> 00:29:17,480
Speaker 2: all about curving basic lifetile expenses with guaranteed inflation income

652
00:29:17,520 --> 00:29:21,240
Speaker 2: planning in retirement. It's not about assets anymore. It's about

653
00:29:21,280 --> 00:29:25,000
Speaker 2: guaranteed income. A successful retirement is really a do it

654
00:29:25,000 --> 00:29:28,080
Speaker 2: yourself project. Take the time to meet with Maggie Tax

655
00:29:28,120 --> 00:29:31,160
Speaker 2: and meet with the qualified experience advisor. We've helped so

656
00:29:31,160 --> 00:29:33,920
Speaker 2: many people out there by making a few simple tweaks

657
00:29:33,960 --> 00:29:37,239
Speaker 2: to your portfolio now and you can start reducing your

658
00:29:37,240 --> 00:29:40,080
Speaker 2: future tax bill and make sure your retirement income lasts

659
00:29:40,120 --> 00:29:42,920
Speaker 2: for the rest of your life. Eight three three Magi.

660
00:29:42,680 --> 00:29:44,400
Speaker 4: Tax Ye and be sure to visit our website at

661
00:29:44,400 --> 00:29:46,840
Speaker 4: Maggi tax dot com. And don't forget tune in every

662
00:29:47,040 --> 00:29:50,479
Speaker 4: Sunday on ABCTV at ten thirty am for the Maggie

663
00:29:50,520 --> 00:29:54,000
Speaker 4: Tax and Financial Show. You know, we have clients that

664
00:29:54,280 --> 00:29:57,560
Speaker 4: want to eliminate Uncle Sam forever and they are in

665
00:29:57,600 --> 00:30:01,520
Speaker 4: a zero percent tax bracket forever moving forward. If you

666
00:30:01,600 --> 00:30:05,000
Speaker 4: want to be, let's explore that as well. Eight three

667
00:30:05,040 --> 00:30:07,760
Speaker 4: to three Maggie Tax. When you come in and meet

668
00:30:07,760 --> 00:30:10,600
Speaker 4: with us, we're going to review your tax risk, your

669
00:30:10,640 --> 00:30:14,480
Speaker 4: income risk, your market risk, your long term care risk,

670
00:30:15,080 --> 00:30:18,600
Speaker 4: your longevity risk. These are things we do each and

671
00:30:18,680 --> 00:30:20,840
Speaker 4: every day to help you. Pick up the phone, schedule

672
00:30:20,960 --> 00:30:24,080
Speaker 4: time to meet with us. Eight three to three Maggie Tax,

673
00:30:24,120 --> 00:30:26,280
Speaker 4: and visit our website at Maggie Tax dot com. There's

674
00:30:26,280 --> 00:30:28,640
Speaker 4: so much information right there at your fingertips. They have

675
00:30:28,680 --> 00:30:31,880
Speaker 4: obvious on both sides of the Bay three locations to

676
00:30:32,080 --> 00:30:34,240
Speaker 4: help them. Eight three to three Maggie Tax.

677
00:30:38,400 --> 00:30:41,959
Speaker 1: Stop funding Uncle Sam's retirement and start planning for your

678
00:30:42,000 --> 00:30:45,480
Speaker 1: own successful retirement. As we return to the Maggie Tax

679
00:30:45,520 --> 00:30:48,920
Speaker 1: Financial Show with your host Robert and Chris Maggie with

680
00:30:49,040 --> 00:30:52,160
Speaker 1: Maggie Tax and Wealth Advisors. For information on how you

681
00:30:52,200 --> 00:30:55,800
Speaker 1: can create a tax free retirement, call eight three three

682
00:30:56,240 --> 00:31:00,560
Speaker 1: Maggie Tax or visit Maggie Tax dot com. Now your

683
00:31:00,560 --> 00:31:04,240
Speaker 1: host with Maggie Tax and Wealth Advisors, Robert and Chris Maggie.

684
00:31:04,320 --> 00:31:05,160
Speaker 3: Welcome back everyone.

685
00:31:05,240 --> 00:31:07,680
Speaker 4: You listen to the Maggie Tax and Financial Show we're

686
00:31:07,680 --> 00:31:11,080
Speaker 4: talking about today, Well, taxes derail your retirement.

687
00:31:11,240 --> 00:31:13,600
Speaker 3: Think about this. We have investment accounts.

688
00:31:13,720 --> 00:31:16,760
Speaker 4: Yeah, but they're not so good if they're going to

689
00:31:16,840 --> 00:31:19,040
Speaker 4: get eaten up to taxes. So what are you doing

690
00:31:19,040 --> 00:31:21,200
Speaker 4: about it? Pick up the phone, schedule time to meet

691
00:31:21,240 --> 00:31:23,680
Speaker 4: with us. And now is the time. It's so important

692
00:31:24,080 --> 00:31:28,080
Speaker 4: to consider taxes in retirement. Many experts believe Congress will

693
00:31:28,080 --> 00:31:31,440
Speaker 4: need to raise additional tax revenue in the near term.

694
00:31:31,480 --> 00:31:33,840
Speaker 4: They're talking about this, it's going to happen. Our national

695
00:31:33,880 --> 00:31:37,880
Speaker 4: debt has swelled to more than thirty trillion dollars. You know,

696
00:31:37,960 --> 00:31:41,760
Speaker 4: Congress is debating trillions of dollars in new spending priorities.

697
00:31:41,960 --> 00:31:44,240
Speaker 4: We're seeing it. We're seeing what they're doing. So what

698
00:31:44,280 --> 00:31:46,360
Speaker 4: does that mean to you? They need to offset the

699
00:31:46,440 --> 00:31:48,640
Speaker 4: spending and they're not going to change the spendings. They

700
00:31:48,680 --> 00:31:50,760
Speaker 4: need to go after the people who have the money,

701
00:31:50,800 --> 00:31:53,520
Speaker 4: and that is the people out there who we're talking

702
00:31:53,640 --> 00:31:56,680
Speaker 4: to today. You have irs, you have full one k's,

703
00:31:56,920 --> 00:32:00,400
Speaker 4: you know. Simply put, these accounts are infected with tax taxes,

704
00:32:00,400 --> 00:32:03,240
Speaker 4: and there is every reason to believe that Washington will

705
00:32:03,280 --> 00:32:06,080
Speaker 4: be searching for more tax revenue in the future. So

706
00:32:06,120 --> 00:32:08,480
Speaker 4: when it comes to tax and retirement, you may want

707
00:32:08,520 --> 00:32:11,000
Speaker 4: to protect against the two related risk that we've been

708
00:32:11,000 --> 00:32:14,880
Speaker 4: talking about today, tax risk and also legislative risk. And

709
00:32:14,960 --> 00:32:17,800
Speaker 4: tax risk is the risk that taxes are not lower

710
00:32:17,840 --> 00:32:20,400
Speaker 4: in the future than they are today because of your

711
00:32:20,440 --> 00:32:24,200
Speaker 4: income needs and your filing status. And also the big

712
00:32:24,240 --> 00:32:27,600
Speaker 4: one or legislative risk, which is the risk our government

713
00:32:27,640 --> 00:32:32,160
Speaker 4: introduces new or expanded taxes that will impact your retirement approach.

714
00:32:32,440 --> 00:32:35,880
Speaker 2: So I'm sure you have questions and you'll confuse, but

715
00:32:35,920 --> 00:32:39,000
Speaker 2: that's okay. Go to our website, Maggie tax dot com

716
00:32:39,040 --> 00:32:40,960
Speaker 2: and look for the chat box on the bottom right.

717
00:32:41,360 --> 00:32:43,800
Speaker 2: It's time to put in your question because if your concerned,

718
00:32:44,000 --> 00:32:46,760
Speaker 2: let's talk about it now Maggie tax dot com and

719
00:32:46,800 --> 00:32:49,680
Speaker 2: then go to the top there's a retirement calculator and

720
00:32:49,720 --> 00:32:51,480
Speaker 2: you can fill in the information there and we can

721
00:32:51,520 --> 00:32:54,560
Speaker 2: show you in thirty seconds what your retirement tax bill

722
00:32:54,640 --> 00:32:56,440
Speaker 2: is going to be. Then it's going to be time

723
00:32:56,520 --> 00:32:59,840
Speaker 2: to sit down together. So let's talk about what actions

724
00:32:59,840 --> 00:33:02,720
Speaker 2: can and you take today to help protect yourself from

725
00:33:02,720 --> 00:33:06,000
Speaker 2: these risks. And there's many risks out there. There's income risk,

726
00:33:06,040 --> 00:33:09,840
Speaker 2: there's market risk, there's retirement risk. They're all over the place.

727
00:33:10,280 --> 00:33:13,920
Speaker 2: Tax diversification right now may be valuable option to consider.

728
00:33:14,400 --> 00:33:17,080
Speaker 2: Many of you maybe are afraid of the language, but

729
00:33:17,120 --> 00:33:19,760
Speaker 2: again we want to interpret that for you. Some savers

730
00:33:19,840 --> 00:33:22,520
Speaker 2: choose to address the risk of variable taxes in retirement

731
00:33:22,800 --> 00:33:27,280
Speaker 2: by incorporating tax free strategies into their retirement approach. Many

732
00:33:27,280 --> 00:33:29,920
Speaker 2: people have WROTH iaries out there because it's tax free.

733
00:33:30,080 --> 00:33:32,360
Speaker 2: They use Index Universal Life because you can grow the

734
00:33:32,400 --> 00:33:35,360
Speaker 2: money tax free. And this is some strategies and concepts

735
00:33:35,400 --> 00:33:38,640
Speaker 2: that maybe not all of you understand. Tax free assets

736
00:33:38,640 --> 00:33:42,200
Speaker 2: can serve as a hedge against rising taxes in the future.

737
00:33:42,560 --> 00:33:45,160
Speaker 2: Since WROTH irays and even WROTH for one case, if

738
00:33:45,160 --> 00:33:48,360
Speaker 2: you have them and other tax free saving vehicles, think

739
00:33:48,360 --> 00:33:52,200
Speaker 2: about it. They're funded with after tax dollars. No taxes

740
00:33:52,240 --> 00:33:55,160
Speaker 2: are due on the funds when they are withdrawn in retirement.

741
00:33:55,480 --> 00:33:59,120
Speaker 2: That means if Congress raises taxes in the future, these

742
00:33:59,160 --> 00:34:00,640
Speaker 2: funds would not be impacted.

743
00:34:00,760 --> 00:34:02,760
Speaker 4: So do you have these accounts out there? If not,

744
00:34:03,080 --> 00:34:05,720
Speaker 4: we can show you how to create these accounts. We

745
00:34:05,760 --> 00:34:08,680
Speaker 4: can show you how to convert to these accounts. We

746
00:34:08,719 --> 00:34:13,000
Speaker 4: can create a taxable environment that you don't want. You

747
00:34:13,000 --> 00:34:15,840
Speaker 4: don't want a taxable environment right, Well, share the tax

748
00:34:15,880 --> 00:34:18,440
Speaker 4: free account that you do want, and it's very simple,

749
00:34:18,480 --> 00:34:20,040
Speaker 4: just pick up the phone and schedule time to meet

750
00:34:20,080 --> 00:34:21,719
Speaker 4: with us. A three to three Maggie tax.

751
00:34:21,760 --> 00:34:23,200
Speaker 2: You know, It's like when you buy a house. You

752
00:34:23,200 --> 00:34:25,120
Speaker 2: buy a house and you have a mortgage, and then

753
00:34:25,239 --> 00:34:27,319
Speaker 2: as you go on you pay into it. But then

754
00:34:27,360 --> 00:34:29,640
Speaker 2: guess what, you still owe the mortgage if you go

755
00:34:29,760 --> 00:34:32,200
Speaker 2: sell the house. So you might get equity out of it,

756
00:34:32,239 --> 00:34:34,239
Speaker 2: but still you got to pay that back. It's the

757
00:34:34,280 --> 00:34:38,040
Speaker 2: same thing with irs. You have grown a tax deferred account,

758
00:34:38,080 --> 00:34:40,600
Speaker 2: you agreed to let it grow tax deferred and in

759
00:34:40,680 --> 00:34:42,919
Speaker 2: retirement right now, because they change your rules to age

760
00:34:42,960 --> 00:34:45,640
Speaker 2: seventy two that you have to start taking rm D.

761
00:34:46,120 --> 00:34:49,400
Speaker 2: The larger your account, the higher the taxes. You're going

762
00:34:49,440 --> 00:34:52,640
Speaker 2: to have less for retirement. So by ensuring a portion

763
00:34:52,719 --> 00:34:55,120
Speaker 2: of your retirement funds are in tax free accounts that

764
00:34:55,440 --> 00:34:58,600
Speaker 2: Chris is talking about, you might feel better protected against

765
00:34:58,640 --> 00:35:02,000
Speaker 2: the risk of rise taxes in retirement. Folks, we just

766
00:35:02,080 --> 00:35:04,160
Speaker 2: talked about it. The Trump tax cuts are going to

767
00:35:04,280 --> 00:35:07,319
Speaker 2: expire in two years. That means the tax is going

768
00:35:07,400 --> 00:35:10,440
Speaker 2: to go up at least three percent, maybe more if

769
00:35:10,440 --> 00:35:12,719
Speaker 2: they keep spending trillions of dollars it's going to come

770
00:35:12,760 --> 00:35:15,040
Speaker 2: from your retirement, and that could help you have a

771
00:35:15,080 --> 00:35:18,879
Speaker 2: more complete approach to protecting your funds in retirement. You know, Chris,

772
00:35:18,920 --> 00:35:21,239
Speaker 2: we talk about the Maggie Plan. It's a tax plan,

773
00:35:21,280 --> 00:35:23,480
Speaker 2: it's an income plan, it's an insurance plan, it's an

774
00:35:23,560 --> 00:35:26,760
Speaker 2: investment plan, it's a state planning. So if you're sitting

775
00:35:26,760 --> 00:35:29,120
Speaker 2: there right now and you're missing some of those, go

776
00:35:29,160 --> 00:35:31,440
Speaker 2: to the Maggi Tax dot Com and hit the chat

777
00:35:31,440 --> 00:35:33,799
Speaker 2: box and put a question in. Let's find out what

778
00:35:33,840 --> 00:35:35,480
Speaker 2: we can do to help you, because that's what we're

779
00:35:35,480 --> 00:35:39,160
Speaker 2: trying to do. Interpret the wording, the language is different

780
00:35:39,200 --> 00:35:41,280
Speaker 2: for some of you. We want to make it simple.

781
00:35:41,360 --> 00:35:43,480
Speaker 2: Eight three to three Magi Tax. Be sure to go

782
00:35:43,480 --> 00:35:46,200
Speaker 2: to our website, the chat boxes right there, Maggie tax

783
00:35:46,239 --> 00:35:48,359
Speaker 2: dot Com. And if you want an answer about your

784
00:35:48,360 --> 00:35:51,759
Speaker 2: retirement calculator, the retirement calculator there is there, and in

785
00:35:51,840 --> 00:35:54,439
Speaker 2: thirty seconds, we can show you what your retirement tax

786
00:35:54,480 --> 00:35:55,160
Speaker 2: bill is going to be.

787
00:35:55,239 --> 00:35:56,960
Speaker 4: And that's just it getting a plan. You know, we

788
00:35:57,000 --> 00:35:58,919
Speaker 4: thank you so much for listening to today's show. There's

789
00:35:58,920 --> 00:36:01,560
Speaker 4: so much information at your fingertips that you can have

790
00:36:01,600 --> 00:36:04,360
Speaker 4: acts to if you just want it. You know, right now,

791
00:36:04,400 --> 00:36:06,759
Speaker 4: many people are just doing what they do. They go

792
00:36:06,840 --> 00:36:10,160
Speaker 4: through life, they have their agenda throughout the day and

793
00:36:10,280 --> 00:36:11,759
Speaker 4: guess what, they're tired at the end of the day.

794
00:36:11,840 --> 00:36:14,440
Speaker 4: They don't take time to focus on these things, and

795
00:36:14,480 --> 00:36:17,640
Speaker 4: these are necessary issues that you need to be focusing on.

796
00:36:17,920 --> 00:36:20,800
Speaker 4: Whether you're married, whether you're single, whether you're a widow,

797
00:36:21,280 --> 00:36:23,120
Speaker 4: it doesn't matter. The fact of the matter is you

798
00:36:23,160 --> 00:36:26,280
Speaker 4: need to do something about this. This is your money.

799
00:36:26,360 --> 00:36:29,759
Speaker 4: You work so hard, you have assets. Don't get them

800
00:36:30,120 --> 00:36:34,480
Speaker 4: knocked down by taxes and future legislation because they want

801
00:36:34,480 --> 00:36:36,719
Speaker 4: to get the money that they spend. So pick up

802
00:36:36,719 --> 00:36:38,799
Speaker 4: the phone, schedule time to meet with us A three

803
00:36:38,920 --> 00:36:41,360
Speaker 4: three MAGI tacks. We look forward to meeting with you.

804
00:36:41,400 --> 00:36:44,440
Speaker 4: There's so so many opportunities to help you and if

805
00:36:44,440 --> 00:36:46,879
Speaker 4: you just know about them. So there's a tax plan

806
00:36:46,920 --> 00:36:49,040
Speaker 4: you can create. There's an income plan that you can create.

807
00:36:49,320 --> 00:36:51,879
Speaker 4: There's an investment plan that you can have. What about

808
00:36:51,880 --> 00:36:54,520
Speaker 4: an estate plan that you can have. These are the

809
00:36:54,560 --> 00:36:57,000
Speaker 4: things that we can do for you. Pick up the phone,

810
00:36:57,080 --> 00:36:59,239
Speaker 4: schedule time to meet with us, and don't forget visit

811
00:36:59,239 --> 00:37:02,200
Speaker 4: our website at MAGA tax dot com. You have any questions,

812
00:37:02,320 --> 00:37:04,120
Speaker 4: pick up the phone or just rent in the chat

813
00:37:04,160 --> 00:37:07,000
Speaker 4: box right there, write your question. Let's address it for

814
00:37:07,040 --> 00:37:08,880
Speaker 4: you A three three Maggie Tax.

815
00:37:09,239 --> 00:37:10,680
Speaker 3: So folks, it's really up to you.

816
00:37:10,680 --> 00:37:13,520
Speaker 2: You have to create a plan, a tax plan, an

817
00:37:13,560 --> 00:37:16,319
Speaker 2: income plan, an insurance plan. That's what Chris and I

818
00:37:16,520 --> 00:37:18,359
Speaker 2: you know, do with every client that comes in. Let's

819
00:37:18,360 --> 00:37:21,040
Speaker 2: have a conversation. You don't have to pay anything. There's

820
00:37:21,080 --> 00:37:22,959
Speaker 2: no charge. I mean people ask us all the time.

821
00:37:23,200 --> 00:37:25,279
Speaker 2: Come in for a free consultation, and by the way,

822
00:37:25,680 --> 00:37:28,720
Speaker 2: get a second opinion because you can't get that opinion

823
00:37:28,760 --> 00:37:31,239
Speaker 2: from the first advisor that you have. And many many

824
00:37:31,280 --> 00:37:34,240
Speaker 2: times that we've had second opinions that we give to clients.

825
00:37:34,520 --> 00:37:36,759
Speaker 2: It's an They open up their eyes and go like, wow,

826
00:37:36,800 --> 00:37:37,880
Speaker 2: I think I need to work with you.

827
00:37:37,920 --> 00:37:38,200
Speaker 3: Guys.

828
00:37:38,560 --> 00:37:41,560
Speaker 2: Eight three three Maggie Tax. Visit our website Maggie Tax

829
00:37:41,560 --> 00:37:43,719
Speaker 2: dot com. You have a question, just put it in

830
00:37:43,719 --> 00:37:46,520
Speaker 2: the chat box eight three three Maggie Tax, and don't

831
00:37:46,560 --> 00:37:49,279
Speaker 2: forget Tune in tomorrow to our TV show on ABC

832
00:37:49,480 --> 00:37:52,200
Speaker 2: at ten thirty am, The Maggie Tax and Financial Show.

833
00:37:52,520 --> 00:37:54,640
Speaker 2: We talk about a lot of interesting topics there see

834
00:37:54,640 --> 00:37:56,640
Speaker 2: if we can help you out a three to three

835
00:37:56,640 --> 00:37:59,160
Speaker 2: Magie Tax and be sure to visit our website Maggie

836
00:37:59,160 --> 00:38:01,959
Speaker 2: Tax dot com.

837
00:38:01,960 --> 00:38:04,759
Speaker 1: Thank you for listening to Maggie Tax and Financial Show

838
00:38:04,840 --> 00:38:08,600
Speaker 1: with Robert and Chris Maggie of Maggie Tax Wealth Advisors.

839
00:38:08,680 --> 00:38:12,000
Speaker 1: Listen here five to six pm every Saturday and from

840
00:38:12,000 --> 00:38:15,200
Speaker 1: eleven am till noon every Sunday, or anytime on the

841
00:38:15,239 --> 00:38:18,760
Speaker 1: free iHeartRadio app. And remember you can pay less tax

842
00:38:18,920 --> 00:38:22,759
Speaker 1: with Maggie Tax Program. Content provided by Maggie Tax Wealth

843
00:38:22,800 --> 00:38:26,160
Speaker 1: and Advisors. Call them at eight three three Maggie Tax

844
00:38:26,360 --> 00:38:31,520
Speaker 1: or visit them online at Maggietax dot com