Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
All these years you've saved up planning for secure retirement,
but if you're not careful, it will be the irs
that's living it up when you retire by taxing your
hard earned money. Welcome to the Maggie Tax and Financial
Hour with Robert and Chris Maggie of Maggie Tax Advisory
and Financial Group. With over thirty years of combined experience
in tax savings, income planning, and investment opportunities, Robert and
(00:22):
Chris share advice and tax planning strategies designed to protect
your retirement nest egg from Uncle Sam. Your questions and
comments are welcome during today's program by calling eight one
three three two two twenty five twenty. That's eight one
three three two two twenty five twenty or visit Maggie
Tax dot Com. That's Maggi tax dot com and now
(00:46):
your host for the Maggie Tax Financial Hour on nine
seventy WFLA. Robert and Chris Maggie.
Speaker 2 (00:53):
Hello everyone, and thanks for joining us today listening to
the Maggie Tax and Financial Show. I just want to
make a point be sure to visit our website, Maggie
Tax dot Com and click on at the top the
retirement calculator to find out your tax bill. Take you
thirty seconds to figure out how much tax you're going
to pay on your IRA and four oh one K
and Chris and I are going to talk about that today.
(01:14):
Don't forget. Every Sunday at ten thirty on ABC watch
our TV show and we have a lot to talk
about today. A lot of things are changing, a lot
of things are happening. So Chris, you know wherever you
want to begin, because this is going to be from
here on out. With taxes going up, there's a lot
of noise out there. There's a lot of confusion out there.
I have been getting calls, You have been getting calls
(01:35):
about what do we do about taxes? And that's the
name of the game right now.
Speaker 3 (01:38):
That's it. Well, welcome everyone, Thank you so much for
tuning into the Mega Tax and Financial Show. And as always,
we are so grateful and thankful to be here. We
love doing what we do. You know, it's about helping people.
And as you mentioned, Dad, confusion questions and we get
these each and every week. So there's a lot of
noise out there. What do you do? You know, it's
(01:58):
not only about taxes, about investments, is about income planning,
what do you do? How to take Social Security and
maximize these benefits? My gosh, So today we want to
talk about a lot of different things, and so stay tuned.
Visit our website at Maggie tax dot com. There's so
much information right there at your fingertips. But let's just
jump into if you have a traditional IRA or a
(02:19):
phone one K or a TSP thrift savings plan with
the federal government, or if you have a four to
H three B or a four point fifty seven plan,
you have accounts, you're saving for retirement. You're doing the
right thing. But again, guess what you were told the
wrong information?
Speaker 2 (02:35):
Why?
Speaker 3 (02:36):
Because these all all these accounts are infected with taxes,
and that's what we're talking about today. So it's always
a great thing to put away money. So these vehicles
have been created to do that and that's a positive.
But at the end of the day, when the money
comes out, it's all taxable at question mark tax rates.
So that's what we're going to dive in today. So
welcome everyone, Thanks for tuning in. Visit our website. If
(02:57):
you have any questions, pick up the phone, schedule time
to meet with a We have office on both sides
of the Bay eight three three Maggie Tax.
Speaker 2 (03:04):
A couple things that Chris mentioned. We all saved for
a time, but no one talked about your tax bill.
And that's why on the top of my website, Maggie
tax dot com do it yourself. It's gonna take thirty
seconds because someone has to be talking to you about this.
I know we get calls coming in and we meet
clients every day. Their broker doesn't talk about it, their
banker doesn't talk about it. Even their CPA doesn't talk
(03:24):
about it, Chris. And that's what responsibility they have to
talk about that, not just to do their taxes. And
if you have a traditional IRA or a four to
oh one K, you save funds for a tirement. The
problem is many of you will pay an unknown tax.
You have a tax bill to Uncle Sam. And you know,
when we sit down with clients and we talk about this,
I'll give you a big example. Client comes in with
(03:45):
a million dollars sitting in his IRA. Ah, I got
a million dollars. This is great. I can travel the country,
travel the world, take the cruises. Chris, what's the answer
to that?
Speaker 3 (03:54):
That's not all yours? And that's the biggest thing. You know,
you know how you get you have birthday, or you
have Christmas, or you have these get togethers. You get
all these presents. But guess what, they're not all yours.
Same thing with the irs and in these IRA accounts
because they have you, they have that portion. It's not
all yours. So figure out what your tax bill is,
(04:15):
figure out really what you can get to keep. And
this is what it's all about. You want to keep
as much as you can in the most tax efficient way.
So Dad, let's talk about what can people do, what
strategies are out there, what kind of steps they should
just take. Maybe the first step is what.
Speaker 2 (04:32):
Look, if you look at your account like we do,
you can do what they call a strategic rollout, And
many people don't understand how to do that. And the
bottom line is that you could take money out of
a taxable account every year and pay the lowest tax
and then put it into a ROTH account where you
pay no tax. And this millionaire client that we talked about,
and he's not the only one, he had time on
(04:52):
his side, because at seventy two is when you have
to start taking the required minimum distribution and then it's
going to be text. So what we do it is
we reversed it. It simply called a strategic rollout. Give
us a call at eight three to three, Maggie Tax.
And again if you go to my website, Maggie Tax.
And I'm going to be making this point every week
for a long time. Look at the retirement tax bill.
(05:13):
There's no other advisor out there, there's no other broker
out there that has what we have on our website.
And then you can sit down and talk to us
about a strategic rollout. Because Chris years ago when they
started with the ROTH, everybody, you know, no big deal.
You know, that's okay, We'll just keep putting money in
the taxable account. But guess what, many of you listening
know this when you come in. We see even with
(05:35):
the federal people, you could talk about that for a minute,
they have a TSP ROTH and they don't even know
they have that. So those are ways to get yourself
tax free income Well.
Speaker 3 (05:44):
Let's just say, you know, if you're saving for retirement,
that's a great thing. You want to put money away,
You want to create buckets of money, and the best
way to do it is income tax free. So you know,
why not pay the tax on the money today so
that in the future you have tax free income. So yeah,
many people today because they taken our advice. Over the
past five years, seven years, I've seen so much more
(06:06):
money go towards four one K roths or TSP roths
or even just a roth iry or even cash value
life insurance. Oh my gosh. If you're making a lot
of money and you are phased out because you can't
put money away into these traditional accounts, there are other options.
So you can have a tax free cash savings account
that you can start accumulating and also have tax free
(06:27):
income in the future.
Speaker 2 (06:28):
So let's talk about the gorilla in the room, and
that's exactly what the story is. Who is the gorilla?
What is the gorilla? So let's take risk off the table.
I think, Chris, the main thing that people and we
see this all the time, they don't realize the risk
they're taking. They may have eighty five percent of their
money in risk whether they're in the market and they're
going to lose. And what we do is the red
(06:48):
money green money. And we had a client in the
last week we actually flipped it. Well, we could show
me we canna have eighty percent eighty five percent green
and fifteen percent in red and still make money in
the market and you didn't know that. Because it's about
it education. Chris and I talk about this every time.
You have to understand the rules before you play the game.
So take the time to meet with us eight three
three Maggie Tax. Visit my website Maggie tax dot com.
(07:12):
I'm gonna drill this every week. Go to the retirement
tax bill because if that doesn't wake you up, then
I don't really know what to do. So how do
you feel about taxes in the future. We know taxes
are going to go up if the Trump tax cuts expire.
We know what's happening in the midterm elections. A lot
of things are going to change. So the question I
ask all of you is how do you feel about risk?
(07:32):
And Chris, do they even know what risk is? Because
it's confusing, that's just it. You know, you're listening out there,
You hear what we're saying. You know many people are
not sitting down with you and showing you these strategies.
And that's what we're here to do, and that's what
we want to do. So think of the phone and
schedule time to meet with us. We have office on
both sides of the bay. And the thing about is
is do you want a retirement where you have control?
(07:55):
Do you want flexibility? Do you want to make sure
that you have buckets where you have a purpose with
everything you have? So you have an income plan, a
tax plan, an investment plan, and a state plan. And
if you do and you're serious about your retirement, then
pick up the phone, schedule a time to meet with us.
Let's get together. Why because you deserve it. You deserve
to have a plan, You deserve to have things in order.
(08:16):
You deserve to have control and flexibility and be on
the right side of this in the future when they
start raising taxes, you're going to be in control as
if as opposed to falling victim to it like everyone else.
And that's where we specialize in because we can help
you in a lot of different ways income planning, tax planning,
investment planning, and state planning, sol security maximization planning. So
(08:38):
pick up the phone, schedule time to meet with us. Yeah,
we give you every opportunity to make that call. And
many of you that have met with us, I'm kind
of surprised when they come in. They are going to
meet with both Chris and I and we do that
because we want you to see how we work. I've
been doing this for thirty years and I've been helping
a lot of people do taxes and you know, reduce
their risk. And another thing that's coming up, Chris, about inflation.
(08:59):
You know, making four hundred and sixty four dollars a
week and you spend the money on gas and groceries,
You're not making four hundred and sixty four dollars a week.
So think about it. That's how many people are getting
hit with this inflation thing. How do you feel about
the government regulations and what we call legislature risk. If
you don't understand legislature risk, I'll make it simple. Congress
(09:20):
has it written in pencil. They can change the rules
of the game anytime they want. And Chris, it's going
to happen the next few months, and it's going to
happen when the Trump tax cuts expired.
Speaker 3 (09:29):
Well, scary, think about it. That's scary. Think about what's
going on in the economy today, the world today, right,
things are changing. Things are scary at some points, but
it could happen to you. But what if you didn't
let that happen. You can control certain things. You can't
control certain things. But at the end of the day,
your investments, the risk you're currently taking, the taxes that
you're going to be paying, you can control this. We
(09:50):
had a client that came in last week. My gosh.
We put together their income plan. They have one hundred
thousand dollars of income per year and aren't paying a
diamond tax. Why because they listen to us. We put
together buckets of tax free money, buckets of taxable money,
and we can pick and choose where we where we
take the distribution from to stay under the threshold income.
So think about this. If you're serious about your retirement,
(10:13):
you want a plan, you want a strategy. Now's the time.
Pick up the phone, schedule a time to meet with us.
Eight three three Maggie Tax. We have office on both
sides of the day. Visit our website. There's so much
information right there. As my dad mentioned before, figure out
what your tax time bomb bill is gonna be. We
can help you. Visit our website at Maggie Tax dot com.
And don't forget Every Sunday, tune into ABC TV at
(10:37):
ten thirty for the Maggie Tax and Financial Show. It's
a thirty minute show. We educate you. There's a lot
of things we do, but you can. You can write
down your questions, give us a call, let's get together
and let's adjust those for you. Eight three to three
Maggie Tax. The number again, eight three to three Maggie Tax.
Speaker 1 (10:58):
Stop planning for Uncle Sam's or timeirement and start planning
for your retirement. As we return to the Maggie Tax
and Financial Hour with your host, father and son Robert
and Chris Maggie. For additional information on how you can
create a tax free retirement, visit Maggie Tax dot com.
That's m a gg I tax dot Com. Or call
(11:19):
eight one three three two two twenty five twenty. That's
eight one three three two two twenty five twenty now
your host for the Maggie Tax and Financial Hour, Father
and son from Maggie Tax Advisory and Financial Group, Robert
and Chris Maggie.
Speaker 3 (11:35):
Welcome back to the Maggie Tax and Financial Show, and
thank you so much for tuning in. You know, we
love doing what we do. Why because you know, we
help people. We help people reduce their tax, we help
people design an income plan for guaranteed income for the
rest of their life. We design investment plans. You know,
many people out there have form and k's investment plans.
They have no idea what kind of risk they're currently
(11:56):
taking with their accounts. Well, we can help. Many people
have Form k's old ones. They don't know what to
do with it, or even lum sum pension plans. What
do you do with it? Do you take it? Do
you roll it over? What do you do? What about
converting money from an infected area of taxes to tax
free and eliminate Uncle Sam. Those are the things we do.
(12:17):
Why because you need a plan and we know that.
That's why we are do complete planning. If you have
an estate planning issue, you need will or a trust
of have attorney. We can help as well. We have people,
we have staff, we have professionals there to help you.
We put together complete plans. That's what we call the
Maggie Plan. So schedule time to meet. Let's pick up
(12:37):
the phone. Schedule time eight three three. Maggi Tax. Visit
our website at Maggie Tax dot com.
Speaker 2 (12:42):
And there's a reason why we have our name Maggie
Tax and Financial group because we specialize in taxes and
advanced taxes and financial planning, and you know, ask your CPA.
And this is an interesting story. We met with a
gentleman this week and you know, we had a CPA
for years and you know, trusted him. And he came
in and he said, look, I want to get a
second opinion, which is fine and all of you can
(13:04):
get a second opinion. But when we showed him what
his CPA Chris should have showed him, he went back
to a CPA and a CPA said, well, that's not good.
Well do you mean it's not good? It's not good
because he didn't tell him.
Speaker 3 (13:16):
Well, that's just said. It's a great segue into a
great situation that a lot of people should be hearing.
He was with his CPA for twenty five years, had
a great relationship business during the accumulation phase. You know,
when we analyzed his current situation, we noticed that there
was a lot of a shares mutual funds with a
shares front end loaded. So he paid a lot of
(13:39):
commissions years ago on these products that he had and hey,
the market did well, so his account's up. But at
the end of the day, he's seen a lot of volatility,
especially with what's happening now, and he's at the point
where him and his wife want the distribution phase. They
want to protect what they have gotten. So now he
goes back to his he gets the second opinion with us,
(14:01):
and we showed him we analyzed accounts and the fees
that he's paying and type of risk that he's currently
taking with his accounts. And he's basically saying, I want safety,
I want safety. But guess what he has got about
ninety percent of his money and risk, So he's his
CPA currency b. He's not listening to him. They're not
listening to what he and his wife wants. So he
came to us and he wanted an income plan. You
(14:22):
want a tax plan. He wanted a way in an
investment plan to make sure that everything is in the
right order. So guess what, we put together a whole
plan for him. So he came back into a CPA
and he told him, hey, I'm going to transfer my
money over. He'd done a great job, and his CPA
went nuts. And his CPA went nuts because he's a
transactional advisor. He's a transactional advisor and he didn't want
(14:43):
to lose the business. But he wasn't listening to the client.
And that's where they said, you know what, I don't care.
I've been there for twenty five years. They thanked him
very much for all his work, but now it's time
to move on and move on to someone who specialized
in the distribution phase of their retirement. And that's what
we did. So here's what we did. We put together
(15:03):
buckets of safety. We put together buckets of long term growth.
We put buckets together where he has tax free money.
We showed him to get money out of an infected
area of taxes to tax free. We eliminate Uncle Sam
forever and ever and ever for some of his accounts.
So guess what he has the opportunity to have tax
free income, and guess what his money has is safe.
(15:25):
And guess what he has a plan that he didn't
have before. And to wrap it all up, all his
accounts that he had, there was no beneficiaries, there was
no estate plan. So his CPA for twenty five years
he thought was doing the right work didn't. So if
that's you pick up the phone, schedule time to meet
with us. Let's get together, you know.
Speaker 2 (15:45):
And another point we had met a client this week.
He came in and he hears us on the radio
for years, and he wanted to talk about his FRS
because he works at USF And he said, I hear
you guys talk about FRS, that the retirement plan and
also with the federal people, the feers. But in addition,
he said, the reason why I want to work with
you guys is because you're a fiduciary. He understands what
(16:08):
a fiduciary is. And what Chris just mentioned, we just
did the whole plan for him that the CPA didn't do.
So you everyone listening has the right to go back
and ask Kim or her why they didn't show you
what we did. And I have no problem with it.
Neither does Chris, because the egg on their face is
on them. And you know what, if you just sit
(16:28):
there and do nothing, that's not a plan. And I
will tell you as we are been talking today about taxes,
we understand taxes. We understand advanced tax planning. So look,
pick up the phone eight three to three, Maggie Tax.
Visit my website Maggie tax dot com. Go to the
top the retirement calculator, just for laughs and giggles, put
anything in you want and when I get you're going
(16:49):
to get an email to show you and then we
can give you a call and go from there. Folks, Look,
we have a free consultation. And one more thing, Chris
let's mention. You are going to meet with both Chris
and I. And this is a big problem for a
lot of people out there where they have advisors that
had in the past, Chris and they don't even get
a chance to see them. And that's not the way
it works.
Speaker 3 (17:07):
You know, And that's just it. You know, when you
come in to meet with us, we're going to meet
with you and we enjoy it. Why because there's so
much there to help you. And you know, when we
look at that situation that I just mentioned about that
the clients with twenty five years, with the current CPA
twenty five years, they should have had it real They
should have had an estate plan, they should have had
an income plan, they should have had a tax free plan,
(17:27):
they should have had an investment plan. They should have
had all this done already for twenty five years in
a relationship. If you haven't gotten that done, then shame
on them. And you know what, that's why we get upset,
we get animated about this because if your current advisor
is just selling you something and they're more transactional advisor,
you don't need to be with a transactional advisor. You
need to be with a complete advisor. And that's what
we do here at Maggie Tax Advisory and Financial Groups.
(17:50):
So pick up the phone, schedule a time to meet
with us. Visit our website at Maggie tax dot com.
You want income planning, we can help. You want investment planning,
we can help. You want to roll out your money
from an IRA to a rothira Roth conversions? We can help.
Do you want a tax plan we can help. Do
you want to stay planning? We can help. Do you
want help with Medicare? If you are a federal employee
(18:10):
with your furs or your serves benefits, we can help.
So again, sol scaring, maximization, we can help. That's what
we do here Maggie tax dot com. Pick up the phone,
schedule of time to meet with us.
Speaker 2 (18:22):
So, tax analysis, tax planning, that's what we do. Eight
three three Magi Tax. It's a new concept. It's available
to everyone listening to the Magi Tax Show today. Go
to Maggie Tax dot Com. Check it out your CPA.
Tax payers should be discussing lowering taxes, not just preparing them.
And Chris. The other thing is like every year we
(18:42):
show our clients from the tax return why they're paying
taxes and how they can reduce it. Many of you
want that, so give us a call eight three three
Magi Tax. Be sure to watch our show every Sunday
ten thirty on ABC TV eight three three Magie Tax.
That's eight three to three Magie Tax.
Speaker 1 (19:02):
Stop planning for Uncle Sam's retirement and start planning for
your retirement. As we return to the Maggie Tax and
Financial Hour with your host, father and son Robert and
Chris Maggie. For additional information on how you can create
a tax free retirement, visit Maggie Tax dot com. That's
ma gg I tax dot com or call eight one
(19:24):
three three two two twenty five twenty. That's eight one
three three two two twenty five twenty. Now your host
for the Maggie Tax and Financial Hour, Father and son
from Maggie Tax Advisory and Financial Group, Robert and Chris Maggie.
Speaker 3 (19:40):
Welcome back to the Maggie Tax and Financial Show, and
we thank you so much for joining us today and
education is so important. Times are changing, things are changing.
Are you prepared for the possibility of higher taxes in retirement?
That's the question I have for you. So you know
many people out there have an investment advisor, but guess
what are you prepared to pay higher taxes in retirement?
(20:04):
And if not, why aren't you doing the planning now
to avoid that? So welcome back to the Maggie Tax
and Financial Show. I'm Chris Maggie and here with my
dad Robert Maggie and visit our website at Maggie tax
dot com. And we're talking about holistic planning. We're talking
about complete planning, and you deserve a complete plan if
you just have an investment advisor and that's it. They're
not talking about income planning or state planning, or how
(20:26):
to maximize your Social Security or even tax planning. Then
now's the time to pick up the phone, schedule time
to meet with us, get a second opinion because we
can help eight three to three Maggie Tax.
Speaker 2 (20:37):
So how many people think that taxes are going up?
And most people would say they are. The question we
ask is what are you doing about it? If something's wrong,
shouldn't you fix it or try to see how it
can be fixed in a better way than what you
have now. So that's what we're talking about here, because
you know the taxes are going to change, The tax
(20:58):
deductions might change. Chris talked about the capital gains before
might change, the estate taxes might change. So you know
it's getting closer to when it's going to expire. What
are you doing about it? So you all continue to
defer taxes on all or most of your retirement assets
because that's probably the biggest asset Chris, they have in
addition to their home right. So failing to connect that
(21:19):
higher taxes in the future means you will owe more
in taxes on all of those funds and have less
money set aside for your retirement. And go back to
what I'm asking everybody that what do you need in
the front door coming in in retirement? Is it's all security?
Is it pension? Is it extra money? And where is
it going to come from? But don't forget connect the dots.
What's the tax consequence going to be from where you
(21:40):
take it? Because if you're taking anything from a qualified account,
it's all tax deferred. Remember something they let you save
in your early years, you know, and get a tax deferral,
which was great. But now on the back end when
you start taking it out, as you know we've been
talking about, you're going to pay a higher tax, so
it's not really that much of saving. So start thinking
(22:01):
about a tax plan. I do advanced tax planning and
I sit with clients. Chris and I do this all
the time and we show you the advanced tax planning
you can do. You all can do this. You just
have to pick up the phone. Eight three three magi tax.
Let's get together, let's have a conversation and let us
educate you, and then you ask the questions and we'll
help you out a three three maggi tax.
Speaker 3 (22:21):
Yeah, no, you're right. So we do income planning. We
do investment planning, so if you have investments, we can
get a second opinion on what you currently have and
we can help you there as well. But as far
as the tax side, we help mitigate the risk. We
can help you reduce uncertainty to make your retirement more
predictable and more successful. And how cool will it be
if you just had a simple retirement where you know
(22:43):
what's coming in three income streams, five income streams, eight
income streams every month guaranteed income and you know exactly
what your net amounts going to be every month, and
you already know what the tax bill is going to be.
You already know if you're gonna pay tax or not.
How how reliable and how how clear could that be
if you work with the right advisor?
Speaker 2 (23:02):
Can I ask you a question? We see a lot
of clients every day, and I think most advisors out
there talking about one thing, product and they talk about
different types of products. But in everything we do, we
addressing product.
Speaker 3 (23:15):
Yet we haven't talked about a product and we're talking
about a solution. Why because that's a transactional advisor. That's
someone who's going to sell you something. We're talking about
here as a complete plan. This is a process and
that's what we use. We have to use the process
to help you mitigate the risk with an investment plan
as well as an income plan and the products you
can deal with later. That's easy to deal with. But
(23:35):
when you talk about the strategies, like we had a
guy that came in last week. He has a good
amount of money and he said him and his wife
want to get out of the tax burden. And they
were serious about this. They were seventy four years old,
and they say for retirement. They've been through retirement, they
already have everything put together. But they said, we're not
done yet. We have to do something because they see
(23:56):
the danger moving forward and there is a danger for
the beneficiaries and for them if they don't put their
accounts in the right spots. So they said, we want
to be in a forever, never taxed account and environment.
How do we do that? So they didn't know how
to get there, but we can help you because we
use a process. You know, we identify the risk, we
quantify that risk, we build a plan to mitigate that risk.
(24:17):
And it starts with the market. You know, savers wanted
and they're needed the power of the stock market to
grow their funds. And it was very simple and it
is simple over time. But put money aside, invest in
the stock market, and watch you grow. That's what most
people decided to do, and that's what the plan was
fine until it didn't until the market went down. Then
you need a backup plan and many people felt as if,
(24:38):
oh my gosh, I have to work five more years
or ten years, right, So savers learned about risk, so
the advisor community learned to identify that risk by creating
and using fancy terms like alpha and beta and different strategies. Right,
So the industry kept helping the process, create tools like
Monte Carlo simulations to quantify that risk for clients. But
(24:59):
a lot of aliens just got confused. So the focus
for many advisers was about accumulating wealth, and that was
the primary goal until a few things happened. The dot
com bubble burst, you know, followed shortly thereafter by the
financial crisis, and suddenly savers were reacting to all these
risks and didn't know what to do during their retirement age.
So these assets were depleted and there was no plan
(25:22):
to generate income. So the problem was compounded by the
reality that retirees were living longer than ever before. So
advisors learned to identify that income risk first, longevity risk.
And now we're at the point here about many people
out there, and I'm talking about the tax risk. So
what are we doing about this? So you need to
get a plan, and that's what we can help you do.
A three to three Maggie tax.
Speaker 2 (25:43):
You said a lot of words there, and I talk
about language, and there's exactly My point is all the
words that you used before. That is what most people
out there are taught by their advisor and to them
some of them. I know many clients they don't even
open up their envelope when they get it anymore because
they just look at the bottom line if they even
open it and say, well, I made money or I
lost money. Folks, that's not a plan. And we talk
(26:05):
about the plan, the income plan. Do you have an
income plan? If not, then you need to sit down
and let's put one together. Do you have a tax plan?
And we've been talking about taxes, Chris and I for years.
I've been doing this for a long time. We've seen
wealthy people get burned. We've seen not so wealthy people
get burned. And you know what, if you work all
your life and then you get to the retirement side
(26:26):
and then you got to stop paying more in taxes
to the irs, that doesn't make any sense to me
at all. What was the point of saving in a
four oh one k or an ira Because we were
just told that you're going to get a tax deduction
this year to bring you down to another tax level.
But wait a second, what about thirty forty years down
the road, when you start taking this money out, you
are going to pay the tax on the money they
(26:48):
loaned you. You have a partner with Uncle Sam. And
the sooner you get in to talk about advance tax planning,
the better off you're going to be. And you know what,
it doesn't hurt all of you can do this. You
just have to sit and have patience to do it.
Speaker 3 (27:01):
So that's it. So it's pretty simple. So what do
you do. You pick up the phone, your schedule time
to meet with us. We have office on both sides
of the bay, and when you're comeing to meet with us,
we're going to sit there and I'm going to talk
to you. We're going to talk about your investments. We're
going to talk about your income plan, we're going to
talk about your taxes. We're going to analyze your taxes
for again last year's tax return. Let's look at that.
We'll show you why you're paying tax or why you're
getting a refund. Many people have no idea why, Well,
(27:22):
we can explain that to you. Then we'll talk about
how it all incorporates, where you can have income on
a most tax efficient way and that's what it's about.
As my dad mentioned, there's different buckets, and you have
piles of money. Many people out there just have piles
of money that they go up and they go down.
But what if you had a plan where you had
a couple of accounts that generated guaranteed income future pension
(27:44):
plans for you and your family. What if you had
other accounts out there that just grew and you can
take risk with those because you don't need them. Those
are later money buckets. What if you had a plan
that had tax free money, so when you need money,
you have a choice and you can decide on how
much tax you want to pay. Those are the clients
that we have. Those are the positions that our clients
(28:07):
are in because we can talk about the amount they
want to pay in tax. We can get rid of
the taxable environment and create tax free money, and we
can do the same thing for you. So pick up
the phone, schedule time to meet with us. Eight three
to three, Maggie.
Speaker 2 (28:20):
Tax and bottom line, it wasn't enough just to accumulate funds,
because you have to accumulate those funds to last a lifetime.
And think about this for a second. Social Security. When
you take soli security. It lasts for your lifetime, and
when you pass away, it passes away. If you have
a pension and you don't have a survivor benefit on it,
then that goes away. So think about what happens to
(28:40):
your spouse when one of you pass away. You have
no plan and that's advanced tax planning.
Speaker 3 (28:45):
So stop right there. Why not have a tax free
bucket that could replenish the income for you or your spouse?
Why have to go through that unknown or that uncertainty
if you were to pass for your spouse reading for
your kids. So that's why you need to start looking
through different lens. And many people out there aren't doing that.
They're doing the same old thing. Traditionally, they just go
(29:06):
to their advisor. They put money into an account. If
the mark goes up, big deal. If it goes down,
big deal. But that's not a plan. That's just a
transactional plan that you have. You need a complete plan.
You need to work with an advisor who does tax planning,
income planning, investment planning, as state planning, social security maximization planning,
what about medicare planning? All these different topics coincide with
(29:29):
one another, so you can have a holistic plan, so
we can help you eight three to three Maggie tax.
Speaker 2 (29:35):
So let me throw one more thing at you here.
If you retire today and say you're in a twenty
two percent tax bracket, in two years, are you going
to be in the same tax bracket. No, and it's
going to go up. So think about that for a second.
Let's say you go from twenty two to twenty five.
That's thirty percent more that's going to be coming out
of your paycheck and thirty percent less that you're going
(29:55):
to get. How many of you thought about that? Because
now take it out, Chris, two years after the tax
cuts expire and they raise it a three percent more,
that's thirty percent.
Speaker 3 (30:05):
We'll stay there for a minute, because if you need
to net the same amount of income, that means you
have to take more from your investments, which means that
your investments could out outrun you. And that's the problem
that most people. Most retirees are fearful for running out
of money. So if you have to take more out,
pay more in tax to cover the amount that you
need because Uncle Sam raised the tax rates. Think about
(30:27):
that for a second. Let that digest because right now
it might not be affecting you, but it will when
you can't work and you can't go back and get
a job. So pick up the phone, schedule a time
to meet with us. Let's put together a plan today.
Eight three to three Maggie Tax. We have office on
both sides of the bay, so it's very convenient for you.
And when you come in and meet with us, You're
going to meet with us, and what you're going to
(30:48):
do is we're going to talk about you want to
talk about your goals. We're going to talk about what
you're trying to accomplish. We're going to talk about your
tax plan. We'll talk about your investment plan, your income plan,
and your state plan. So pick up the phone, schedule
time to meet with us. Eight three to three Maggie Tax.
That's a three to three Maggie tax.
Speaker 1 (31:06):
Stop planning for Uncle Sam's retirement and start planning for
your retirement. As we return to the Maggie Tax and
Financial Hour with your host father and son, Robert and Chris, Maggie.
For additional information on how you can create a tax
free retirement, visit Maggie tax dot com that's m a
gg I tax dot com or call eight one three
(31:28):
three two two twenty five twenty. That's eight one three
three two two twenty five twenty. Now your host for
the Maggie Tax and Financial Hour, father and son from
Maggie Tax Advisory and Financial Group, Robert and Chris Maggie.
Speaker 2 (31:43):
Welcome back, and you're listening to the Maggie Tax and
Financial Show. And today we've been talking about tax risk
and legislative risk and a whole bunch of other things.
But what thing I want to bring back this is
for the person out there that you know has been
investing in this for a long time. In the advisor community,
they learn to identify that risk by they created using
fancy terms like alpha and beta. How many people know that?
(32:05):
And the industry helped create tools like Monte Carlo simulations
to quantify that risk for clients. How many know that? Okay,
I'm not worried about that. Finally, advisors would use those
tools to build asset allocation models to mitigate market risk,
not mitigate tax risk. So the question is every time
we see a client come in, did you open up
your statement? Do you know what you have? And they
(32:26):
say no, I don't. They don't know about alpha, beta,
and all this other stuff. They just look at the
bottom line and they look at how many fees they're paying. Well,
what is the advisor doing for you. He's not doing
tax risk, he's not doing income risk. So what was
he doing? He's just grown your assets. The focus on
accumulating wealth was the primary focus until a few things happened.
The dot com bubble burst, followed shortly there after by
(32:48):
the financial crisis, and suddenly savers were reaching retirement age
with depleted assets and no plan to generate income. And
that problem was compounded by the reality that retirees were
living longer than ever. So none of these advisors talked
about future tax free money or income. And I asked
it before, how much income do you need for the
rest of your life to go to that mailbox every
(33:10):
month and get the check that you want. Advisors learn
to identify that income risk or a longevity risk. That's
what we do. And suddenly it wasn't enough to just
accumulate funds. Savers needed a plan to make those funds
last a lifetime. Chris, And that's what we see every
day now because people are confused, they're isolating, they're angry.
(33:31):
Would you think it's because they got the wrong information,
they were taught the wrong language.
Speaker 3 (33:35):
Well, this is what's happening. People come into tax preparation
and guess what when they're not clients of ours, they're
clients of other advisers. They come in and they say,
I want to get a plan, So we do the
taxes for them, and guess what. They're upset they have
to pay a tax liability and they said, well, my
advisor never showed me a tax plan. So what if
you could have a plan where you have buckets of money?
(33:56):
Just think about this for a sec What if you
have buckets of money that have growth with investments that
are allocated the right way to your risk tolerance. What
if you have a couple other buckets that generate guaranteed
income so you can go to the mailbox each and
every month and grab that check and spend the heck
out of it and do it all over again for
the rest of your life. And what if you have
like an inflation bucket, right you can always tap into
(34:17):
so when things hit the fan, you can always tap
into and have income so you don't have to worry
about the inflation or running out of money. Then what
if you had those buckets, every one of them, make
sure that they pass to where you want it to
go and avoid the probate process. Then what if you
had some of those buckets that are tax free, So
when you use taxes every year, you take some from
(34:39):
a taxable environment, some from a tax free and you
can stay under the threshold income, so maybe you don't
have to file a tax return or your effective tax
rate is very low. That's how you do planning. What
if you can have that, Well, that's what the Maggie
plans all about. That's the holistic plan that we do.
It's not about just giving your money, let me manage
it for you. Anybody can do that. There's more to it.
(35:02):
So when you think about what's happening right now, you're
following the crowd. You're the same as every one of
people out there. And there's a small percentage of people
out there that actually have what I just talked about
because there's so many people out there that don't know
what to do. If you're listening today, I urge you
to pick up the phone, schedule a time to meet
with us, get a second opinion on your plan. Eight
(35:24):
three three MAGI tax. That's eight three to three MAGI tax.
Speaker 2 (35:27):
So the question is how do you make your money
last a lifetime? And what happened things change in this industry.
Annuities came out guaranteed income riders that people have. That
was the perfect solution to provide a guaranteed check and
clients could retire and outlive their money. In the year
two thousand, advisors became experts in income planning, addressed this
(35:48):
major concern and that's what we do. And shortly thereafter
most advisors across the industry were using annuities to offset
income risk. Now, don't panic when I say the word
annuities because if you look at your Social Security and
you pinch, and that's an annuity. So think about it.
You just don't understand the language and how they apply,
and some may be bad. I get it, Chris understands.
(36:08):
But until you sit down and see how the annuity
process works. You want guaranteed income for life, you want
a certain amount, we can help you. So today the
headlines are all about taxes. All they just bypassed everything,
They shoved it under the blanket. Advisors who understand tax
risks today like we do with Maggie tax are the
reason why we are successful. Many of you know us.
(36:29):
Many of you come in and see us and you
understand the plan, and we do complete planning. And I'll
say it again, you do not have a complete plan
if you do not have a tax plan or an
income plan. And we can apply the same financial process
we use to address market and income risks. We want
to help clients identify your tax risk, quantifying dollars and cents.
That's the bottom line. People say, Bobby, Chris, how much
(36:52):
am I going to get? Bottom line? And let us
find the tools to reduce that risk. That's up to you.
You have to tell us what's concerning you income, Is
it taxes or it's all the above, Because the biggest
thing we hear, Chris, is the market. The market. Oh,
it's up, we're making money. No, you're not. You got
It's not all yours until it crashes, and then it crashes.
Then you lose what, you lose all that you think
(37:13):
you had. That is not a plan for retirement, Chris.
I mean, I'm sorry, I get upset, but this is
what people come in. They think the market is the
best thing in the world for what For growth, yes,
but for retirement. You got to start thinking about change
and looking at it through a different lens.
Speaker 3 (37:28):
Absolutely, and that's where there's the complete process. You know
we talked about early on the show. Yeah, you're up
at halftime and it's great, you're all excited, but guess
what the second half comes around, and that's where Uncle
Sam is. He comes out. That's a silent partner that's
there on the other team that you do not see.
And that's what we're showing you today. So when we
think about big picture, we get it. We have people
retire each and every day. You retire once, so we
(37:51):
retire each and every day and we can show you
how it's going to look. So think up the phone
and schedule time to meet with us. We have office
on both sides of the Bay. We do a radio show,
joh Obviously, we do a TV show every Sunday on
ABC TV at ten thirty am. Tune in watch. Go
to our website Maggi tax dot com. See what we do.
You're listening today. If you do not have a plan,
(38:12):
we can help. If you want an income plan, a
tax plan, an investment plan, and a state plan, a
social security maximization plan, we can help. What are you doing.
If you do not have a plan you need to
get one eight three to three Magi Tax. We look
forward to working with you. Forward a meeting with you.
Get the Maggie Plan, tax planning, income planning, investment planning,
social security planning, a state planning. Get a plan you
(38:35):
deserve it. Eight three three Maggie Tax. That's eight three
to three tax.
Speaker 1 (38:41):
You've been listening to The Maggie Tax on Financial Hour
discussing tax planning investment strategy is presented by Robert and
Chris Maggie from Maggie Tax Advisory and Financial Services with
offices in Hillsboro and Panelas County. Visit Maggi Tax dot
com or call eight one three three two two twenty
five twenty that's eight one three three two two twenty
(39:03):
five twenty and tune in next Saturday at five for
the Maggie Tax and Financial Hour
All these years you've saved up planning for secure retirement,
but if you're not careful, it will be the irs
that's living it up when you retire by taxing your
hard earned money. Welcome to the Maggie Tax and Financial
Hour with Robert and Chris Maggie of Maggie Tax Advisory
and Financial Group. With over thirty years of combined experience
in tax savings, income planning, and investment opportunities, Robert and
(00:22):
Chris share advice and tax planning strategies designed to protect
your retirement nest egg from Uncle Sam. Your questions and
comments are welcome during today's program by calling eight one
three three two two twenty five twenty. That's eight one
three three two two twenty five twenty or visit Maggie
Tax dot Com. That's Maggi tax dot com and now
(00:46):
your host for the Maggie Tax Financial Hour on nine
seventy WFLA. Robert and Chris Maggie.
Speaker 2 (00:53):
Hello everyone, and thanks for joining us today listening to
the Maggie Tax and Financial Show. I just want to
make a point be sure to visit our website, Maggie
Tax dot Com and click on at the top the
retirement calculator to find out your tax bill. Take you
thirty seconds to figure out how much tax you're going
to pay on your IRA and four oh one K
and Chris and I are going to talk about that today.
(01:14):
Don't forget. Every Sunday at ten thirty on ABC watch
our TV show and we have a lot to talk
about today. A lot of things are changing, a lot
of things are happening. So Chris, you know wherever you
want to begin, because this is going to be from
here on out. With taxes going up, there's a lot
of noise out there. There's a lot of confusion out there.
I have been getting calls, You have been getting calls
(01:35):
about what do we do about taxes? And that's the
name of the game right now.
Speaker 3 (01:38):
That's it. Well, welcome everyone, Thank you so much for
tuning into the Mega Tax and Financial Show. And as always,
we are so grateful and thankful to be here. We
love doing what we do. You know, it's about helping people.
And as you mentioned, Dad, confusion questions and we get
these each and every week. So there's a lot of
noise out there. What do you do? You know, it's
(01:58):
not only about taxes, about investments, is about income planning,
what do you do? How to take Social Security and
maximize these benefits? My gosh, So today we want to
talk about a lot of different things, and so stay tuned.
Visit our website at Maggie tax dot com. There's so
much information right there at your fingertips. But let's just
jump into if you have a traditional IRA or a
(02:19):
phone one K or a TSP thrift savings plan with
the federal government, or if you have a four to
H three B or a four point fifty seven plan,
you have accounts, you're saving for retirement. You're doing the
right thing. But again, guess what you were told the
wrong information?
Speaker 2 (02:35):
Why?
Speaker 3 (02:36):
Because these all all these accounts are infected with taxes,
and that's what we're talking about today. So it's always
a great thing to put away money. So these vehicles
have been created to do that and that's a positive.
But at the end of the day, when the money
comes out, it's all taxable at question mark tax rates.
So that's what we're going to dive in today. So
welcome everyone, Thanks for tuning in. Visit our website. If
(02:57):
you have any questions, pick up the phone, schedule time
to meet with a We have office on both sides
of the Bay eight three three Maggie Tax.
Speaker 2 (03:04):
A couple things that Chris mentioned. We all saved for
a time, but no one talked about your tax bill.
And that's why on the top of my website, Maggie
tax dot com do it yourself. It's gonna take thirty
seconds because someone has to be talking to you about this.
I know we get calls coming in and we meet
clients every day. Their broker doesn't talk about it, their
banker doesn't talk about it. Even their CPA doesn't talk
(03:24):
about it, Chris. And that's what responsibility they have to
talk about that, not just to do their taxes. And
if you have a traditional IRA or a four to
oh one K, you save funds for a tirement. The
problem is many of you will pay an unknown tax.
You have a tax bill to Uncle Sam. And you know,
when we sit down with clients and we talk about this,
I'll give you a big example. Client comes in with
(03:45):
a million dollars sitting in his IRA. Ah, I got
a million dollars. This is great. I can travel the country,
travel the world, take the cruises. Chris, what's the answer
to that?
Speaker 3 (03:54):
That's not all yours? And that's the biggest thing. You know,
you know how you get you have birthday, or you
have Christmas, or you have these get togethers. You get
all these presents. But guess what, they're not all yours.
Same thing with the irs and in these IRA accounts
because they have you, they have that portion. It's not
all yours. So figure out what your tax bill is,
(04:15):
figure out really what you can get to keep. And
this is what it's all about. You want to keep
as much as you can in the most tax efficient way.
So Dad, let's talk about what can people do, what
strategies are out there, what kind of steps they should
just take. Maybe the first step is what.
Speaker 2 (04:32):
Look, if you look at your account like we do,
you can do what they call a strategic rollout, And
many people don't understand how to do that. And the
bottom line is that you could take money out of
a taxable account every year and pay the lowest tax
and then put it into a ROTH account where you
pay no tax. And this millionaire client that we talked about,
and he's not the only one, he had time on
(04:52):
his side, because at seventy two is when you have
to start taking the required minimum distribution and then it's
going to be text. So what we do it is
we reversed it. It simply called a strategic rollout. Give
us a call at eight three to three, Maggie Tax.
And again if you go to my website, Maggie Tax.
And I'm going to be making this point every week
for a long time. Look at the retirement tax bill.
(05:13):
There's no other advisor out there, there's no other broker
out there that has what we have on our website.
And then you can sit down and talk to us
about a strategic rollout. Because Chris years ago when they
started with the ROTH, everybody, you know, no big deal.
You know, that's okay, We'll just keep putting money in
the taxable account. But guess what, many of you listening
know this when you come in. We see even with
(05:35):
the federal people, you could talk about that for a minute,
they have a TSP ROTH and they don't even know
they have that. So those are ways to get yourself
tax free income Well.
Speaker 3 (05:44):
Let's just say, you know, if you're saving for retirement,
that's a great thing. You want to put money away,
You want to create buckets of money, and the best
way to do it is income tax free. So you know,
why not pay the tax on the money today so
that in the future you have tax free income. So yeah,
many people today because they taken our advice. Over the
past five years, seven years, I've seen so much more
(06:06):
money go towards four one K roths or TSP roths
or even just a roth iry or even cash value
life insurance. Oh my gosh. If you're making a lot
of money and you are phased out because you can't
put money away into these traditional accounts, there are other options.
So you can have a tax free cash savings account
that you can start accumulating and also have tax free
(06:27):
income in the future.
Speaker 2 (06:28):
So let's talk about the gorilla in the room, and
that's exactly what the story is. Who is the gorilla?
What is the gorilla? So let's take risk off the table.
I think, Chris, the main thing that people and we
see this all the time, they don't realize the risk
they're taking. They may have eighty five percent of their
money in risk whether they're in the market and they're
going to lose. And what we do is the red
(06:48):
money green money. And we had a client in the
last week we actually flipped it. Well, we could show
me we canna have eighty percent eighty five percent green
and fifteen percent in red and still make money in
the market and you didn't know that. Because it's about
it education. Chris and I talk about this every time.
You have to understand the rules before you play the game.
So take the time to meet with us eight three
three Maggie Tax. Visit my website Maggie tax dot com.
(07:12):
I'm gonna drill this every week. Go to the retirement
tax bill because if that doesn't wake you up, then
I don't really know what to do. So how do
you feel about taxes in the future. We know taxes
are going to go up if the Trump tax cuts expire.
We know what's happening in the midterm elections. A lot
of things are going to change. So the question I
ask all of you is how do you feel about risk?
(07:32):
And Chris, do they even know what risk is? Because
it's confusing, that's just it. You know, you're listening out there,
You hear what we're saying. You know many people are
not sitting down with you and showing you these strategies.
And that's what we're here to do, and that's what
we want to do. So think of the phone and
schedule time to meet with us. We have office on
both sides of the bay. And the thing about is
is do you want a retirement where you have control?
(07:55):
Do you want flexibility? Do you want to make sure
that you have buckets where you have a purpose with
everything you have? So you have an income plan, a
tax plan, an investment plan, and a state plan. And
if you do and you're serious about your retirement, then
pick up the phone, schedule a time to meet with us.
Let's get together. Why because you deserve it. You deserve
to have a plan, You deserve to have things in order.
(08:16):
You deserve to have control and flexibility and be on
the right side of this in the future when they
start raising taxes, you're going to be in control as
if as opposed to falling victim to it like everyone else.
And that's where we specialize in because we can help
you in a lot of different ways income planning, tax planning,
investment planning, and state planning, sol security maximization planning. So
(08:38):
pick up the phone, schedule time to meet with us. Yeah,
we give you every opportunity to make that call. And
many of you that have met with us, I'm kind
of surprised when they come in. They are going to
meet with both Chris and I and we do that
because we want you to see how we work. I've
been doing this for thirty years and I've been helping
a lot of people do taxes and you know, reduce
their risk. And another thing that's coming up, Chris, about inflation.
(08:59):
You know, making four hundred and sixty four dollars a
week and you spend the money on gas and groceries,
You're not making four hundred and sixty four dollars a week.
So think about it. That's how many people are getting
hit with this inflation thing. How do you feel about
the government regulations and what we call legislature risk. If
you don't understand legislature risk, I'll make it simple. Congress
(09:20):
has it written in pencil. They can change the rules
of the game anytime they want. And Chris, it's going
to happen the next few months, and it's going to
happen when the Trump tax cuts expired.
Speaker 3 (09:29):
Well, scary, think about it. That's scary. Think about what's
going on in the economy today, the world today, right,
things are changing. Things are scary at some points, but
it could happen to you. But what if you didn't
let that happen. You can control certain things. You can't
control certain things. But at the end of the day,
your investments, the risk you're currently taking, the taxes that
you're going to be paying, you can control this. We
(09:50):
had a client that came in last week. My gosh.
We put together their income plan. They have one hundred
thousand dollars of income per year and aren't paying a
diamond tax. Why because they listen to us. We put
together buckets of tax free money, buckets of taxable money,
and we can pick and choose where we where we
take the distribution from to stay under the threshold income.
So think about this. If you're serious about your retirement,
(10:13):
you want a plan, you want a strategy. Now's the time.
Pick up the phone, schedule a time to meet with us.
Eight three three Maggie Tax. We have office on both
sides of the day. Visit our website. There's so much
information right there. As my dad mentioned before, figure out
what your tax time bomb bill is gonna be. We
can help you. Visit our website at Maggie Tax dot com.
And don't forget Every Sunday, tune into ABC TV at
(10:37):
ten thirty for the Maggie Tax and Financial Show. It's
a thirty minute show. We educate you. There's a lot
of things we do, but you can. You can write
down your questions, give us a call, let's get together
and let's adjust those for you. Eight three to three
Maggie Tax. The number again, eight three to three Maggie Tax.
Speaker 1 (10:58):
Stop planning for Uncle Sam's or timeirement and start planning
for your retirement. As we return to the Maggie Tax
and Financial Hour with your host, father and son Robert
and Chris Maggie. For additional information on how you can
create a tax free retirement, visit Maggie Tax dot com.
That's m a gg I tax dot Com. Or call
(11:19):
eight one three three two two twenty five twenty. That's
eight one three three two two twenty five twenty now
your host for the Maggie Tax and Financial Hour, Father
and son from Maggie Tax Advisory and Financial Group, Robert
and Chris Maggie.
Speaker 3 (11:35):
Welcome back to the Maggie Tax and Financial Show, and
thank you so much for tuning in. You know, we
love doing what we do. Why because you know, we
help people. We help people reduce their tax, we help
people design an income plan for guaranteed income for the
rest of their life. We design investment plans. You know,
many people out there have form and k's investment plans.
They have no idea what kind of risk they're currently
(11:56):
taking with their accounts. Well, we can help. Many people
have Form k's old ones. They don't know what to
do with it, or even lum sum pension plans. What
do you do with it? Do you take it? Do
you roll it over? What do you do? What about
converting money from an infected area of taxes to tax
free and eliminate Uncle Sam. Those are the things we do.
(12:17):
Why because you need a plan and we know that.
That's why we are do complete planning. If you have
an estate planning issue, you need will or a trust
of have attorney. We can help as well. We have people,
we have staff, we have professionals there to help you.
We put together complete plans. That's what we call the
Maggie Plan. So schedule time to meet. Let's pick up
(12:37):
the phone. Schedule time eight three three. Maggi Tax. Visit
our website at Maggie Tax dot com.
Speaker 2 (12:42):
And there's a reason why we have our name Maggie
Tax and Financial group because we specialize in taxes and
advanced taxes and financial planning, and you know, ask your CPA.
And this is an interesting story. We met with a
gentleman this week and you know, we had a CPA
for years and you know, trusted him. And he came
in and he said, look, I want to get a
second opinion, which is fine and all of you can
(13:04):
get a second opinion. But when we showed him what
his CPA Chris should have showed him, he went back
to a CPA and a CPA said, well, that's not good.
Well do you mean it's not good? It's not good
because he didn't tell him.
Speaker 3 (13:16):
Well, that's just said. It's a great segue into a
great situation that a lot of people should be hearing.
He was with his CPA for twenty five years, had
a great relationship business during the accumulation phase. You know,
when we analyzed his current situation, we noticed that there
was a lot of a shares mutual funds with a
shares front end loaded. So he paid a lot of
(13:39):
commissions years ago on these products that he had and hey,
the market did well, so his account's up. But at
the end of the day, he's seen a lot of volatility,
especially with what's happening now, and he's at the point
where him and his wife want the distribution phase. They
want to protect what they have gotten. So now he
goes back to his he gets the second opinion with us,
(14:01):
and we showed him we analyzed accounts and the fees
that he's paying and type of risk that he's currently
taking with his accounts. And he's basically saying, I want safety,
I want safety. But guess what he has got about
ninety percent of his money and risk, So he's his
CPA currency b. He's not listening to him. They're not
listening to what he and his wife wants. So he
came to us and he wanted an income plan. You
(14:22):
want a tax plan. He wanted a way in an
investment plan to make sure that everything is in the
right order. So guess what, we put together a whole
plan for him. So he came back into a CPA
and he told him, hey, I'm going to transfer my
money over. He'd done a great job, and his CPA
went nuts. And his CPA went nuts because he's a
transactional advisor. He's a transactional advisor and he didn't want
(14:43):
to lose the business. But he wasn't listening to the client.
And that's where they said, you know what, I don't care.
I've been there for twenty five years. They thanked him
very much for all his work, but now it's time
to move on and move on to someone who specialized
in the distribution phase of their retirement. And that's what
we did. So here's what we did. We put together
(15:03):
buckets of safety. We put together buckets of long term growth.
We put buckets together where he has tax free money.
We showed him to get money out of an infected
area of taxes to tax free. We eliminate Uncle Sam
forever and ever and ever for some of his accounts.
So guess what he has the opportunity to have tax
free income, and guess what his money has is safe.
(15:25):
And guess what he has a plan that he didn't
have before. And to wrap it all up, all his
accounts that he had, there was no beneficiaries, there was
no estate plan. So his CPA for twenty five years
he thought was doing the right work didn't. So if
that's you pick up the phone, schedule time to meet
with us. Let's get together, you know.
Speaker 2 (15:45):
And another point we had met a client this week.
He came in and he hears us on the radio
for years, and he wanted to talk about his FRS
because he works at USF And he said, I hear
you guys talk about FRS, that the retirement plan and
also with the federal people, the feers. But in addition,
he said, the reason why I want to work with
you guys is because you're a fiduciary. He understands what
(16:08):
a fiduciary is. And what Chris just mentioned, we just
did the whole plan for him that the CPA didn't do.
So you everyone listening has the right to go back
and ask Kim or her why they didn't show you
what we did. And I have no problem with it.
Neither does Chris, because the egg on their face is
on them. And you know what, if you just sit
(16:28):
there and do nothing, that's not a plan. And I
will tell you as we are been talking today about taxes,
we understand taxes. We understand advanced tax planning. So look,
pick up the phone eight three to three, Maggie Tax.
Visit my website Maggie tax dot com. Go to the
top the retirement calculator, just for laughs and giggles, put
anything in you want and when I get you're going
(16:49):
to get an email to show you and then we
can give you a call and go from there. Folks, Look,
we have a free consultation. And one more thing, Chris
let's mention. You are going to meet with both Chris
and I. And this is a big problem for a
lot of people out there where they have advisors that
had in the past, Chris and they don't even get
a chance to see them. And that's not the way
it works.
Speaker 3 (17:07):
You know, And that's just it. You know, when you
come in to meet with us, we're going to meet
with you and we enjoy it. Why because there's so
much there to help you. And you know, when we
look at that situation that I just mentioned about that
the clients with twenty five years, with the current CPA
twenty five years, they should have had it real They
should have had an estate plan, they should have had
an income plan, they should have had a tax free plan,
(17:27):
they should have had an investment plan. They should have
had all this done already for twenty five years in
a relationship. If you haven't gotten that done, then shame
on them. And you know what, that's why we get upset,
we get animated about this because if your current advisor
is just selling you something and they're more transactional advisor,
you don't need to be with a transactional advisor. You
need to be with a complete advisor. And that's what
we do here at Maggie Tax Advisory and Financial Groups.
(17:50):
So pick up the phone, schedule a time to meet
with us. Visit our website at Maggie tax dot com.
You want income planning, we can help. You want investment planning,
we can help. You want to roll out your money
from an IRA to a rothira Roth conversions? We can help.
Do you want a tax plan we can help. Do
you want to stay planning? We can help. Do you
want help with Medicare? If you are a federal employee
(18:10):
with your furs or your serves benefits, we can help.
So again, sol scaring, maximization, we can help. That's what
we do here Maggie tax dot com. Pick up the phone,
schedule of time to meet with us.
Speaker 2 (18:22):
So, tax analysis, tax planning, that's what we do. Eight
three three Magi Tax. It's a new concept. It's available
to everyone listening to the Magi Tax Show today. Go
to Maggie Tax dot Com. Check it out your CPA.
Tax payers should be discussing lowering taxes, not just preparing them.
And Chris. The other thing is like every year we
(18:42):
show our clients from the tax return why they're paying
taxes and how they can reduce it. Many of you
want that, so give us a call eight three three
Magi Tax. Be sure to watch our show every Sunday
ten thirty on ABC TV eight three three Magie Tax.
That's eight three to three Magie Tax.
Speaker 1 (19:02):
Stop planning for Uncle Sam's retirement and start planning for
your retirement. As we return to the Maggie Tax and
Financial Hour with your host, father and son Robert and
Chris Maggie. For additional information on how you can create
a tax free retirement, visit Maggie Tax dot com. That's
ma gg I tax dot com or call eight one
(19:24):
three three two two twenty five twenty. That's eight one
three three two two twenty five twenty. Now your host
for the Maggie Tax and Financial Hour, Father and son
from Maggie Tax Advisory and Financial Group, Robert and Chris Maggie.
Speaker 3 (19:40):
Welcome back to the Maggie Tax and Financial Show, and
we thank you so much for joining us today and
education is so important. Times are changing, things are changing.
Are you prepared for the possibility of higher taxes in retirement?
That's the question I have for you. So you know
many people out there have an investment advisor, but guess
what are you prepared to pay higher taxes in retirement?
(20:04):
And if not, why aren't you doing the planning now
to avoid that? So welcome back to the Maggie Tax
and Financial Show. I'm Chris Maggie and here with my
dad Robert Maggie and visit our website at Maggie tax
dot com. And we're talking about holistic planning. We're talking
about complete planning, and you deserve a complete plan if
you just have an investment advisor and that's it. They're
not talking about income planning or state planning, or how
(20:26):
to maximize your Social Security or even tax planning. Then
now's the time to pick up the phone, schedule time
to meet with us, get a second opinion because we
can help eight three to three Maggie Tax.
Speaker 2 (20:37):
So how many people think that taxes are going up?
And most people would say they are. The question we
ask is what are you doing about it? If something's wrong,
shouldn't you fix it or try to see how it
can be fixed in a better way than what you
have now. So that's what we're talking about here, because
you know the taxes are going to change, The tax
(20:58):
deductions might change. Chris talked about the capital gains before
might change, the estate taxes might change. So you know
it's getting closer to when it's going to expire. What
are you doing about it? So you all continue to
defer taxes on all or most of your retirement assets
because that's probably the biggest asset Chris, they have in
addition to their home right. So failing to connect that
(21:19):
higher taxes in the future means you will owe more
in taxes on all of those funds and have less
money set aside for your retirement. And go back to
what I'm asking everybody that what do you need in
the front door coming in in retirement? Is it's all security?
Is it pension? Is it extra money? And where is
it going to come from? But don't forget connect the dots.
What's the tax consequence going to be from where you
(21:40):
take it? Because if you're taking anything from a qualified account,
it's all tax deferred. Remember something they let you save
in your early years, you know, and get a tax deferral,
which was great. But now on the back end when
you start taking it out, as you know we've been
talking about, you're going to pay a higher tax, so
it's not really that much of saving. So start thinking
(22:01):
about a tax plan. I do advanced tax planning and
I sit with clients. Chris and I do this all
the time and we show you the advanced tax planning
you can do. You all can do this. You just
have to pick up the phone. Eight three three magi tax.
Let's get together, let's have a conversation and let us
educate you, and then you ask the questions and we'll
help you out a three three maggi tax.
Speaker 3 (22:21):
Yeah, no, you're right. So we do income planning. We
do investment planning, so if you have investments, we can
get a second opinion on what you currently have and
we can help you there as well. But as far
as the tax side, we help mitigate the risk. We
can help you reduce uncertainty to make your retirement more
predictable and more successful. And how cool will it be
if you just had a simple retirement where you know
(22:43):
what's coming in three income streams, five income streams, eight
income streams every month guaranteed income and you know exactly
what your net amounts going to be every month, and
you already know what the tax bill is going to be.
You already know if you're gonna pay tax or not.
How how reliable and how how clear could that be
if you work with the right advisor?
Speaker 2 (23:02):
Can I ask you a question? We see a lot
of clients every day, and I think most advisors out
there talking about one thing, product and they talk about
different types of products. But in everything we do, we
addressing product.
Speaker 3 (23:15):
Yet we haven't talked about a product and we're talking
about a solution. Why because that's a transactional advisor. That's
someone who's going to sell you something. We're talking about
here as a complete plan. This is a process and
that's what we use. We have to use the process
to help you mitigate the risk with an investment plan
as well as an income plan and the products you
can deal with later. That's easy to deal with. But
(23:35):
when you talk about the strategies, like we had a
guy that came in last week. He has a good
amount of money and he said him and his wife
want to get out of the tax burden. And they
were serious about this. They were seventy four years old,
and they say for retirement. They've been through retirement, they
already have everything put together. But they said, we're not
done yet. We have to do something because they see
(23:56):
the danger moving forward and there is a danger for
the beneficiaries and for them if they don't put their
accounts in the right spots. So they said, we want
to be in a forever, never taxed account and environment.
How do we do that? So they didn't know how
to get there, but we can help you because we
use a process. You know, we identify the risk, we
quantify that risk, we build a plan to mitigate that risk.
(24:17):
And it starts with the market. You know, savers wanted
and they're needed the power of the stock market to
grow their funds. And it was very simple and it
is simple over time. But put money aside, invest in
the stock market, and watch you grow. That's what most
people decided to do, and that's what the plan was
fine until it didn't until the market went down. Then
you need a backup plan and many people felt as if,
(24:38):
oh my gosh, I have to work five more years
or ten years, right, So savers learned about risk, so
the advisor community learned to identify that risk by creating
and using fancy terms like alpha and beta and different strategies. Right,
So the industry kept helping the process, create tools like
Monte Carlo simulations to quantify that risk for clients. But
(24:59):
a lot of aliens just got confused. So the focus
for many advisers was about accumulating wealth, and that was
the primary goal until a few things happened. The dot
com bubble burst, you know, followed shortly thereafter by the
financial crisis, and suddenly savers were reacting to all these
risks and didn't know what to do during their retirement age.
So these assets were depleted and there was no plan
(25:22):
to generate income. So the problem was compounded by the
reality that retirees were living longer than ever before. So
advisors learned to identify that income risk first, longevity risk.
And now we're at the point here about many people
out there, and I'm talking about the tax risk. So
what are we doing about this? So you need to
get a plan, and that's what we can help you do.
A three to three Maggie tax.
Speaker 2 (25:43):
You said a lot of words there, and I talk
about language, and there's exactly My point is all the
words that you used before. That is what most people
out there are taught by their advisor and to them
some of them. I know many clients they don't even
open up their envelope when they get it anymore because
they just look at the bottom line if they even
open it and say, well, I made money or I
lost money. Folks, that's not a plan. And we talk
(26:05):
about the plan, the income plan. Do you have an
income plan? If not, then you need to sit down
and let's put one together. Do you have a tax plan?
And we've been talking about taxes, Chris and I for years.
I've been doing this for a long time. We've seen
wealthy people get burned. We've seen not so wealthy people
get burned. And you know what, if you work all
your life and then you get to the retirement side
(26:26):
and then you got to stop paying more in taxes
to the irs, that doesn't make any sense to me
at all. What was the point of saving in a
four oh one k or an ira Because we were
just told that you're going to get a tax deduction
this year to bring you down to another tax level.
But wait a second, what about thirty forty years down
the road, when you start taking this money out, you
are going to pay the tax on the money they
(26:48):
loaned you. You have a partner with Uncle Sam. And
the sooner you get in to talk about advance tax planning,
the better off you're going to be. And you know what,
it doesn't hurt all of you can do this. You
just have to sit and have patience to do it.
Speaker 3 (27:01):
So that's it. So it's pretty simple. So what do
you do. You pick up the phone, your schedule time
to meet with us. We have office on both sides
of the bay, and when you're comeing to meet with us,
we're going to sit there and I'm going to talk
to you. We're going to talk about your investments. We're
going to talk about your income plan, we're going to
talk about your taxes. We're going to analyze your taxes
for again last year's tax return. Let's look at that.
We'll show you why you're paying tax or why you're
getting a refund. Many people have no idea why, Well,
(27:22):
we can explain that to you. Then we'll talk about
how it all incorporates, where you can have income on
a most tax efficient way and that's what it's about.
As my dad mentioned, there's different buckets, and you have
piles of money. Many people out there just have piles
of money that they go up and they go down.
But what if you had a plan where you had
a couple of accounts that generated guaranteed income future pension
(27:44):
plans for you and your family. What if you had
other accounts out there that just grew and you can
take risk with those because you don't need them. Those
are later money buckets. What if you had a plan
that had tax free money, so when you need money,
you have a choice and you can decide on how
much tax you want to pay. Those are the clients
that we have. Those are the positions that our clients
(28:07):
are in because we can talk about the amount they
want to pay in tax. We can get rid of
the taxable environment and create tax free money, and we
can do the same thing for you. So pick up
the phone, schedule time to meet with us. Eight three
to three, Maggie.
Speaker 2 (28:20):
Tax and bottom line, it wasn't enough just to accumulate funds,
because you have to accumulate those funds to last a lifetime.
And think about this for a second. Social Security. When
you take soli security. It lasts for your lifetime, and
when you pass away, it passes away. If you have
a pension and you don't have a survivor benefit on it,
then that goes away. So think about what happens to
(28:40):
your spouse when one of you pass away. You have
no plan and that's advanced tax planning.
Speaker 3 (28:45):
So stop right there. Why not have a tax free
bucket that could replenish the income for you or your spouse?
Why have to go through that unknown or that uncertainty
if you were to pass for your spouse reading for
your kids. So that's why you need to start looking
through different lens. And many people out there aren't doing that.
They're doing the same old thing. Traditionally, they just go
(29:06):
to their advisor. They put money into an account. If
the mark goes up, big deal. If it goes down,
big deal. But that's not a plan. That's just a
transactional plan that you have. You need a complete plan.
You need to work with an advisor who does tax planning,
income planning, investment planning, as state planning, social security maximization planning,
what about medicare planning? All these different topics coincide with
(29:29):
one another, so you can have a holistic plan, so
we can help you eight three to three Maggie tax.
Speaker 2 (29:35):
So let me throw one more thing at you here.
If you retire today and say you're in a twenty
two percent tax bracket, in two years, are you going
to be in the same tax bracket. No, and it's
going to go up. So think about that for a second.
Let's say you go from twenty two to twenty five.
That's thirty percent more that's going to be coming out
of your paycheck and thirty percent less that you're going
(29:55):
to get. How many of you thought about that? Because
now take it out, Chris, two years after the tax
cuts expire and they raise it a three percent more,
that's thirty percent.
Speaker 3 (30:05):
We'll stay there for a minute, because if you need
to net the same amount of income, that means you
have to take more from your investments, which means that
your investments could out outrun you. And that's the problem
that most people. Most retirees are fearful for running out
of money. So if you have to take more out,
pay more in tax to cover the amount that you
need because Uncle Sam raised the tax rates. Think about
(30:27):
that for a second. Let that digest because right now
it might not be affecting you, but it will when
you can't work and you can't go back and get
a job. So pick up the phone, schedule a time
to meet with us. Let's put together a plan today.
Eight three to three Maggie Tax. We have office on
both sides of the bay, so it's very convenient for you.
And when you come in and meet with us, You're
going to meet with us, and what you're going to
(30:48):
do is we're going to talk about you want to
talk about your goals. We're going to talk about what
you're trying to accomplish. We're going to talk about your
tax plan. We'll talk about your investment plan, your income plan,
and your state plan. So pick up the phone, schedule
time to meet with us. Eight three to three Maggie Tax.
That's a three to three Maggie tax.
Speaker 1 (31:06):
Stop planning for Uncle Sam's retirement and start planning for
your retirement. As we return to the Maggie Tax and
Financial Hour with your host father and son, Robert and Chris, Maggie.
For additional information on how you can create a tax
free retirement, visit Maggie tax dot com that's m a
gg I tax dot com or call eight one three
(31:28):
three two two twenty five twenty. That's eight one three
three two two twenty five twenty. Now your host for
the Maggie Tax and Financial Hour, father and son from
Maggie Tax Advisory and Financial Group, Robert and Chris Maggie.
Speaker 2 (31:43):
Welcome back, and you're listening to the Maggie Tax and
Financial Show. And today we've been talking about tax risk
and legislative risk and a whole bunch of other things.
But what thing I want to bring back this is
for the person out there that you know has been
investing in this for a long time. In the advisor community,
they learn to identify that risk by they created using
fancy terms like alpha and beta. How many people know that?
(32:05):
And the industry helped create tools like Monte Carlo simulations
to quantify that risk for clients. How many know that? Okay,
I'm not worried about that. Finally, advisors would use those
tools to build asset allocation models to mitigate market risk,
not mitigate tax risk. So the question is every time
we see a client come in, did you open up
your statement? Do you know what you have? And they
(32:26):
say no, I don't. They don't know about alpha, beta,
and all this other stuff. They just look at the
bottom line and they look at how many fees they're paying. Well,
what is the advisor doing for you. He's not doing
tax risk, he's not doing income risk. So what was
he doing? He's just grown your assets. The focus on
accumulating wealth was the primary focus until a few things happened.
The dot com bubble burst, followed shortly there after by
(32:48):
the financial crisis, and suddenly savers were reaching retirement age
with depleted assets and no plan to generate income. And
that problem was compounded by the reality that retirees were
living longer than ever. So none of these advisors talked
about future tax free money or income. And I asked
it before, how much income do you need for the
rest of your life to go to that mailbox every
(33:10):
month and get the check that you want. Advisors learn
to identify that income risk or a longevity risk. That's
what we do. And suddenly it wasn't enough to just
accumulate funds. Savers needed a plan to make those funds
last a lifetime. Chris, And that's what we see every
day now because people are confused, they're isolating, they're angry.
(33:31):
Would you think it's because they got the wrong information,
they were taught the wrong language.
Speaker 3 (33:35):
Well, this is what's happening. People come into tax preparation
and guess what when they're not clients of ours, they're
clients of other advisers. They come in and they say,
I want to get a plan, So we do the
taxes for them, and guess what. They're upset they have
to pay a tax liability and they said, well, my
advisor never showed me a tax plan. So what if
you could have a plan where you have buckets of money?
(33:56):
Just think about this for a sec What if you
have buckets of money that have growth with investments that
are allocated the right way to your risk tolerance. What
if you have a couple other buckets that generate guaranteed
income so you can go to the mailbox each and
every month and grab that check and spend the heck
out of it and do it all over again for
the rest of your life. And what if you have
like an inflation bucket, right you can always tap into
(34:17):
so when things hit the fan, you can always tap
into and have income so you don't have to worry
about the inflation or running out of money. Then what
if you had those buckets, every one of them, make
sure that they pass to where you want it to
go and avoid the probate process. Then what if you
had some of those buckets that are tax free, So
when you use taxes every year, you take some from
(34:39):
a taxable environment, some from a tax free and you
can stay under the threshold income, so maybe you don't
have to file a tax return or your effective tax
rate is very low. That's how you do planning. What
if you can have that, Well, that's what the Maggie
plans all about. That's the holistic plan that we do.
It's not about just giving your money, let me manage
it for you. Anybody can do that. There's more to it.
(35:02):
So when you think about what's happening right now, you're
following the crowd. You're the same as every one of
people out there. And there's a small percentage of people
out there that actually have what I just talked about
because there's so many people out there that don't know
what to do. If you're listening today, I urge you
to pick up the phone, schedule a time to meet
with us, get a second opinion on your plan. Eight
(35:24):
three three MAGI tax. That's eight three to three MAGI tax.
Speaker 2 (35:27):
So the question is how do you make your money
last a lifetime? And what happened things change in this industry.
Annuities came out guaranteed income riders that people have. That
was the perfect solution to provide a guaranteed check and
clients could retire and outlive their money. In the year
two thousand, advisors became experts in income planning, addressed this
(35:48):
major concern and that's what we do. And shortly thereafter
most advisors across the industry were using annuities to offset
income risk. Now, don't panic when I say the word
annuities because if you look at your Social Security and
you pinch, and that's an annuity. So think about it.
You just don't understand the language and how they apply,
and some may be bad. I get it, Chris understands.
(36:08):
But until you sit down and see how the annuity
process works. You want guaranteed income for life, you want
a certain amount, we can help you. So today the
headlines are all about taxes. All they just bypassed everything,
They shoved it under the blanket. Advisors who understand tax
risks today like we do with Maggie tax are the
reason why we are successful. Many of you know us.
(36:29):
Many of you come in and see us and you
understand the plan, and we do complete planning. And I'll
say it again, you do not have a complete plan
if you do not have a tax plan or an
income plan. And we can apply the same financial process
we use to address market and income risks. We want
to help clients identify your tax risk, quantifying dollars and cents.
That's the bottom line. People say, Bobby, Chris, how much
(36:52):
am I going to get? Bottom line? And let us
find the tools to reduce that risk. That's up to you.
You have to tell us what's concerning you income, Is
it taxes or it's all the above, Because the biggest
thing we hear, Chris, is the market. The market. Oh,
it's up, we're making money. No, you're not. You got
It's not all yours until it crashes, and then it crashes.
Then you lose what, you lose all that you think
(37:13):
you had. That is not a plan for retirement, Chris.
I mean, I'm sorry, I get upset, but this is
what people come in. They think the market is the
best thing in the world for what For growth, yes,
but for retirement. You got to start thinking about change
and looking at it through a different lens.
Speaker 3 (37:28):
Absolutely, and that's where there's the complete process. You know
we talked about early on the show. Yeah, you're up
at halftime and it's great, you're all excited, but guess
what the second half comes around, and that's where Uncle
Sam is. He comes out. That's a silent partner that's
there on the other team that you do not see.
And that's what we're showing you today. So when we
think about big picture, we get it. We have people
retire each and every day. You retire once, so we
(37:51):
retire each and every day and we can show you
how it's going to look. So think up the phone
and schedule time to meet with us. We have office
on both sides of the Bay. We do a radio show,
joh Obviously, we do a TV show every Sunday on
ABC TV at ten thirty am. Tune in watch. Go
to our website Maggi tax dot com. See what we do.
You're listening today. If you do not have a plan,
(38:12):
we can help. If you want an income plan, a
tax plan, an investment plan, and a state plan, a
social security maximization plan, we can help. What are you doing.
If you do not have a plan you need to
get one eight three to three Magi Tax. We look
forward to working with you. Forward a meeting with you.
Get the Maggie Plan, tax planning, income planning, investment planning,
social security planning, a state planning. Get a plan you
(38:35):
deserve it. Eight three three Maggie Tax. That's eight three
to three tax.
Speaker 1 (38:41):
You've been listening to The Maggie Tax on Financial Hour
discussing tax planning investment strategy is presented by Robert and
Chris Maggie from Maggie Tax Advisory and Financial Services with
offices in Hillsboro and Panelas County. Visit Maggi Tax dot
com or call eight one three three two two twenty
five twenty that's eight one three three two two twenty
(39:03):
five twenty and tune in next Saturday at five for
the Maggie Tax and Financial Hour
Popular Podcasts
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.