Episode Transcript
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Speaker 1 (00:00):
All these years you've saved up planning for a 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
and 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):
Welcome everyone, and thanks for tuning into the Maggie Tax
and Financial Show. And each and every week we are
so glad to be here. Why because we can empower
How are you in so many different ways for your
retirement future. For so many years we have been sharing
retirement strategies and concepts that work. We have explained the
tremendous benefits of working with Maggie Tax Advisory and creating
(01:14):
the Maggie Plan so you could take action and create
a retirement plan that's simple and easy for you to understand.
Whether it's tax planning, or income planning, or investment planning,
or social security or Medicare planning, we can help and
even a state planning as well. So if you have
questions on where do I go for a will or
a trust or a pal of attorney, or to have
(01:35):
more income on a most tax efficient way, or what
about my investments and rollover form and K we can help.
Pick up the phone, schedule time to meet with us.
Eight three to three Magi Tax. That's eight three three
Maggi Tax. And today, as always, I'm here with my
dad and coast of the show, Robert Maggie. So welcome everyone,
and let's start with today's show.
Speaker 3 (01:53):
Absolutely, thank you for joining us today and you're listening
to the Maggie Tax and Financial Show. Be sure to
visit our website Maggia dot com, click on the retirement
bill and find out what your retirement bill is going
to be in thirty seconds, and you have to decide
that you want to take action to successfully deal with
the challenges that we're going to face to achieve financial
success and retirement success and financial freedom. A lot of
(02:17):
things are changing. Legislature, risk is there, We're going to
have our taxes changed in two years. There's so many
things going on. Financial freedom is the ultimate goal for
all Americans. I don't care how old you are, and
I've asked you many times if you wanted to understand
the new language regarding retirement planning, and if you're working
with an advisor that does not have your best interest
(02:38):
in mind, it's time to get a second opinion eight
three to three Maggie tax. And if he or she
tells you that he has the best stock, the best bond,
or a mutual fund with the best interest rate, the
lowest premium, the highest cash value, would that be enough
to inspire you to want to buy from him. I'm
a member of a five oh one C three organization.
It's called the Association of Financial Consultants, and we are
(03:02):
an educational resource for those close to retirement or recently
retired or anyone out there. And we have seminars that
are educational workshops and they're presented by a select few
retirement specialist who work with Maggie Tax and we are
dedicated to educating the public. The bottom line here is
there's no selling and there's no sales pitch. I had
a gentleman come to me and he said, you're a
(03:23):
great salesman. No I'm not. I'm not a salesman because
I don't sell a product. There's a service and a
strategy that you have to understand and what's strictly for
educational purposes. And for many of you that have worked
with us, this is what you know already. You have
the opportunity to meet one with when you register our seminar,
go on our website Maggie tax dot com. It's a
(03:43):
state planning, social Security planning and taxes and Chris. One
thing I will say, and this is important. Telling is
selling and we do not do that. Asking is advocating,
and that's what it's about. You know, we're here to
educate you. There's so much to talk about. My gosh,
I mean, think about it. Do you want just investment.
Speaker 2 (04:00):
That grows and grows and grows and then you get
tax heavily from it. No, it doesn't work that way
because that's not the complete job. I mean, do you
want to put together a great plan, but then again
your accounts have to go through probate if something happens
to you, No, that's not a great plan. Do you
want all this income and then get smashed with taxes? No,
that's not a great plan either. So you have to
(04:21):
make sure that all these different strategies work together. And
that's why we call it the Maggi plan. You need
a complete plan. Our clients have complete plans. It's tax planning,
income planning, investment planning, a state planning. My gosh, you know,
many advisors don't even talk to their CPA. Many many
advisors don't even talk to their estate planning attorney. Many
(04:42):
advisors don't even have these combinations put together for their clients.
We do pick up the phone, schedule time to meet
with us because we can help eight three to three
Maggi tax and.
Speaker 3 (04:50):
One thing I always say, the more you tell someone something,
the more they tend not to believe you. So what
are they trying to sell me? Or even worse, what
are they not telling me? That's the case. Telling doesn't work,
Educating does. And you know this. When you go to school,
you get educated, so you know what you're studying and
what you should know. Our customers don't care how much
(05:11):
we know until they know how much we care. And
we do this at every event because it's about you.
Everything is about you. And register now at Maggie tax
from one of what seminars. It's for our education seminars.
It's free, there's no cost, no obligation. You know what
the best thing is. We do it at libraries. I
don't buy dinners anymore for anybody, Chris, It's doesn't work.
The dinner is not the issue. It's the education that is.
(05:33):
And when people come to the seminars and they sit there,
all odds are on the screen and on when we
talk about whatever topic it is because that's what they
came to listen to, to get educated.
Speaker 2 (05:43):
It's very simple, right, and that's why it's so important.
And then it's why our goal is to help you
take action. My gosh, we want to help you design
an income plan that so many people of you don't have.
We call it bucket planning. It's time to make sure
that you have a purpose with every account that you have.
Call today and we can set up a time to
meet with us. We can explain the bucket process, the
bucket planning process, and how it will benefit you for
(06:05):
have guaranteed income for the rest of your life. We
can explain the simple language of income planning, tax planning,
as well as investment planning. Even when we offer solutions,
and when we offer several choices, many of you ask
questions like would this be a better strategy for you
and your family and your business? Where do you think
or feel this would be more of efficient way to
(06:26):
stay out in front of all these challenges. Absolutely, is
your advisor asking you these same questions? And the question
is is probably? The answer is probably not. You know,
That's why we are different. That's why when you work
with an advisor who has your best interest in mind
from the very first time we meet, you can make
a better decision. And that's what we do so well. Maggie,
Tax Advisor and Financial Group. When you come in to
(06:47):
meet with us, We're going to talk to you. I'm
want to listen to you. We're going to ask you
what's on your mind. My gosh, there's so many different
ways and different things we need to discuss. It's not
just about your investments, it's about your incoming and your
future taxes. Taxes are our biggest expense. So what if
you have these great investments but they're causing unnecessary taxes?
(07:08):
Do you want to know?
Speaker 3 (07:09):
When?
Speaker 2 (07:09):
Would you want to know? I would want to know now?
So pick up the phone, schedule time to meet with us.
Eight three three Maggie tax.
Speaker 3 (07:15):
And here's the best thing. Our customers feel involved and participate,
rather than someone being led around and not understanding what
they're doing. The biggest thing we see is well, I
just bought this because he told me or she told me. No,
that's not it. Do you understand? Because before you leave
my office and speak with Chris or you speak with Kirk,
I want you to know what we did, and you're
going to repeat back, Hey, this is what I understand.
(07:37):
My taxes are going to go down, my social security
is are going to be okay. This is what you
have to understand the language. And additionally, we always ask
you questions because it helps us build trust a lot
more quicker than you and effective and efficiently. I ask
you a question, I want you to answer it because
it's going to be your answer, not mine, and we
build trust when we ask about your concerns, and then
(07:59):
we can create a plan that is simple and easy
to understand, and we call it the Maggie Plan. You
all know that it's simple and easy to stand. So
let me ask you a question. I have a question
for all of you out there, and think about this.
Wouldn't it be amazing if we could develop a strategy
that even if no one knew what was going to happen,
(08:19):
you would still be protected. Think about that. Wouldn't it
be amazing if we could develop a strategy that even
if no one knew what was going to happen, you
would still be protected. Chris? How powerful is that? Very powerful?
Speaker 2 (08:33):
And better still, wouldn't the ideal strategy be one that
allowed us to access the money that we didn't lose
so we could take advantage of the opportunity that was
being provided. So think about this for a second. A
lot of people think about the stock market. You only
have to make money if the market goes up. Well,
is the market going to just keep going.
Speaker 3 (08:52):
Up up, up, up, up up up up?
Speaker 2 (08:55):
No, it goes down, right, So what about these these turns?
What about two thousand and one, what about two thousand
and eight? Many people went down with it, and if
they had their retail broker, then guess what, everyone went
down with it. But not everybody, not everyone in this world.
That's why if you have a complete plan or on
the institutional side of investing, my gosh, you have opportunities
(09:16):
with a purpose, and that's why you didn't go down
forty percent like everybody else. So not everyone is in
the same boat. Not every advisor is the same. You
need to understand that many people don't. So pick up
the phone, schedule time to meet with us. Let's get together,
Let's learn about one another. Let's talk about the different
options for you so you could take advantage of your retirement.
Speaker 3 (09:36):
And finally, wouldn't it be spectacular if we could do
all of this with little or no tax liability. If
you knew you could develop a strategy like that, when
would you want to get started? That's the question before
or after the next downturn that Chris was talking about.
So we just gave you a reason to contact Maggie
Tax today at eight three to three Maggie Tex Visit
(09:57):
Maggie tax dot com. Register for all three and one
seven that we talk about state planning, social security planning,
and the big one right now is tax planning. Register
today and all the upcoming dates and locations are on
Maggie tax dot com. It's free, there's no selling, it's educational.
It's at a library, so you can sit down and
basically pay attention. Folks, it's up to you. You've got
(10:18):
to take action, not me, not Chris. We can help
you get there. If you have questions, you've got to
let us know what they are. Many of you listening
today are sitting back and you know, afraid to ask
a question. Well you shouldn't. They're afraid to ask, you know,
what is my account doing? Can we do a second opinion?
Why are you doing that? There's no reason to so
pick up the phone eight three to three, Maggie Tax.
(10:39):
Visit our website, Maggie Tax dot com. Don't forget. Every
Sunday at ten thirty on ABC TV, tune into the
Maggie Tax and Financial Show and we have a lot
going on there. So pick up the phone eight three
three Maggie Tax. Visit Maggie Tax dot com. You're listening
to the Magi Tax and Financial Show.
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 ma gg I tax dot com or call eight
(11:19):
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, and you're listening to the Maggie Tax and
Financial Show. My name is Robert Maggie and I'm here
with my son Chris Maggie. And don't forget visit our website,
Maggie Tax dot com and tune in every Sunday at
ten thirty on ABC TV to the Maggie Tax and
Financial Show. So along the way, we get a lot
of clients to come in and we do different plans
for these folks, whether it be income, whether it be
(11:56):
tax planning. But Chris, let's talk about when someone comes
in and they want safety of their money. They want
guaranteed income, and they want you know, longevity where they
have money left over for the kids.
Speaker 2 (12:06):
How do we go about that great question? And you know,
if you're out there listening today, and just give an example.
We had a client that came in three years ago
and we just you knowed the reviews each and every year,
and they came in with six hundred thousand dollars and
they retired and they have some income coming in, so
we really didn't need to give them income because they
had two pensions and social securities coming in. So four
income streams that totaled seven thousand dollars a month of
(12:29):
income net after tax, and they only need about five
thousand a month, so they have positive cash flow of
two thousand dollars a month. So they said, well, what
do we do with our six hundred thousand dollars? And
I said, well, what do you want to do with it?
And they sat back and they said, well, we don't
really know, but we do have money in the market
and we're playing the market and it's going up and down.
And I asked them, as safety of your money important
(12:50):
to you? And they both sat back and they said,
at this phase of the game, absolutely it has, isn't
it to everybody? And I said, no, it's actually not.
We have clients that come in sometime and you know,
if they lose ten bucks, they can't do that, they
can't stomach that, they can't sleep at night. They have
other clients that come in and if they lose a
couple hundred grand because the mark goes down, it's not
a big deal.
Speaker 3 (13:09):
It's going to come back. So my question to you
out there is where are you?
Speaker 2 (13:12):
And if you are sitting in a volatile account and
you don't want to be, then you need to raise
your hand and pick up the phone and schedule time
to meet with us. If you are on a conservative
account and you want to take more risk with some
of your money, then you need to pick up the
phone and raise your hand and schedule time to meet
with us. But going back to the client who had
six hundred thousand dollars of money, what we did was
(13:32):
we did the color of money. We did bucket planning.
We call it now money later money never money. And
when we organize these accounts into different buckets, they had
safety of their money in the short term. They had
long term growth with money on the other side, which
is never to later money. And what we did was
we can deal with the risk with those accounts that
(13:54):
we're not going to touch for ten to fifteen to
twenty years. So we did strategic planning where we made
these buckets where they had control flexibility. And that's where
many people come in they have no plan. But when
they leave us and they work with us, guess what,
they have a plan.
Speaker 3 (14:13):
Here's what I would say to that, because this is
the biggest question. You're right on everything you said, and
it's encouraging to know that when people come in, this
is what we talk about. But here's the big thing.
When I ask people to bring in their statement. As
you know, many of them have a brokerage account, they
have stocksponds and mutual funds. They have some risk and
no risk. They have some in the fixed account. But
(14:33):
that's not a plan. That's not a plan. That's not
the Maggie plan, that's not an income plan, that's not
a tax plan. And what Chris is referring to, if
you've heard as many times talk about bucket planning, this
is where we can put a plan together for you
based on the money that you have. Now, when we
do a risk tolerance form, and Chris, this is so
important we talk about it. The risk tolerance form tells
(14:53):
us more about a client, what risk they're taking. And
many times you can talk about this, they're in more
more risk than they even know they are because their
advisor doesn't sit down and tell them that. And that's
a big problem, right, that's it.
Speaker 2 (15:05):
I mean, you know, when we do an analynce of
your accounts, many people have just piles of money.
Speaker 3 (15:09):
Think about this.
Speaker 2 (15:10):
You have five statements that come in the mail, right,
three statements Some stamans won't even come in the mail.
Speaker 3 (15:15):
They come every quarter.
Speaker 2 (15:16):
You might have an old form one K that you
never really look at anymore, maybe two or three of them, right,
because you've changed your employers. So the bottom line here
is many people have piles of money and there's no
concrete to those piles. They can be tumbled down.
Speaker 3 (15:31):
Think of it.
Speaker 2 (15:32):
You know, they just piles of sand, right, and they
can be blown away by just market fluctuation.
Speaker 3 (15:38):
Is that what you want?
Speaker 2 (15:39):
Or do you want a concrete plan where if there
is wind blowing and storms changing and things happening and
hurricanes and whatever it is that your account doesn't move.
That's what we need to talk about. Your color of money.
What do you want your money to do for you?
Because if you're looking for a plan, an investment plan,
we can help. And that's why you pick up the phone.
Schedule time to meet with us. Eight three three, Maggie tax.
(16:00):
Let's get a second opinion on what you currently have
and let's do bucket planning for you.
Speaker 3 (16:04):
And again I challenge all of you if you have
a plan. Now, we're not trying to break a relationship here.
What we're trying to do is when you come in
and we show you a different strategy and then you
sit back and say, wow, my guy or mi gal
has not told me that, then we have something to
talk about. Because this is the new rules of retirement.
You have to understand what we're talking about roth convergence
and tax planning and income planning. If your folks are
(16:25):
not talking about that, shame on them, because when it
comes to retirement, you want to make sure that you
have enough coming in, like Chris says, the front door
every month where you can just you know, pick up
the check, cash the check and not worry about the
other expenses. And when you start taking a lot of risks, Chris,
and this is what we see because that's what they
were taught. Take a lot of risks. See if the
market goes up, and we all know what's going on
(16:46):
with the market goes up, it goes down. But on
our Maggie plan, the way we do it, we position
a lot of money, not a lot of money, but
the portion that you want to be safe in green buckets.
Green buckets mean it doesn't go down, it only goes up.
Speaker 2 (16:59):
And there's no fees to those buckets either, So they
could be safety and no fees, and you don't have
to worry about the resk.
Speaker 3 (17:05):
Which is the biggest question. What's the biggest concern. Everybody
comes in, what's your fee?
Speaker 2 (17:08):
Worried about the fee to play? Right, But again it's
not about that. It doesn't have to be that way
if you want safe money.
Speaker 3 (17:13):
But if you're in a broken's account and you have
an IRA and you're paying fees, you're paying fees on
an account that should be growing, not going down, well
that's it.
Speaker 2 (17:20):
And if no one's watching it and it's pretty much
just all transactions and you have loads and commissions, guess
what you're not your account's not doing what you want
it to do. So that's why it's so important. It's
encouraging pick up the phone, schedule time to meet with us.
We have offices standing by. Let them know that it's
urgent that you need to come in and meet with us.
Because when we see retirement, there's the accumulation phase, there's
(17:41):
the distribution phase of your retirement. Where are you right now?
Because if you are approaching the distribution phase or in
the distribution phase and you see these big volatility markets
go up and they go down, if that doesn't affect
you or scare you, then maybe you start looking at
what's happening. Because if it is affecting you and worrying
(18:01):
you and keeping you up at night, then maybe now
is a time, more than ever before, to make sure
that you get a second opinion and we can help.
Eight three three Maggie Tax and don't.
Speaker 3 (18:10):
Forget to watch our TV show on Sunday at ten thirty.
We have seminars coming up every month on a state planning,
on tax planning. If you go to my website, Maggie
Tax dot com, they're all listed there. We do them
in libraries so we can educate you. And that's the
whole point for you to come in and be educated
and not be sold, because once you understand the ground
rules of this income planning, tax planning, investment planning, market risk,
(18:34):
you know all the types of risks that are out there,
the health risk. This is important for all of you
out there. Pick up the phone eight three to three
Maggie Tax. Visit our website, Maggie tax dot com. Click
on seminars and register for one of the seminars. They're
free and their educational eight three three Magi Tax and
visit the Maggie Tax dot Com Maggie tax dot com website.
On the retirement calculator, click on Maggie tax dot com.
(18:57):
Give us a call right now eight three to three
Maggie Tex.
Speaker 1 (19:03):
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.
Speaker 3 (19:13):
Maggie.
Speaker 1 (19:13):
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 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
(19:37):
Tax Advisory and Financial Group, Robert and Chris Maggie.
Speaker 2 (19:41):
Welcome back to the Maggie Tax and Financial Show and
feel free to visit our website, Maggie Tax dot com.
There's so much information right there at your fingertips. Do
you have a tax plan, do you have an income plan?
Do you have an investment plan? And you know what,
do you have an estate plan? If you said no
to any one of those, you need to listen up
because hours of time to put together a plan for
(20:02):
you and your family. A three to three Magi tax,
that's a three to three Maggie tax. There's so much
there that we could talk about. You know, at our firm,
we talk about the Maggie Plan. You know, we're talking
about taxes today, but how do they incorporate with your investments?
If you are paying more in tax, guess what, less
income to you and your family. So are you prepared
for the possibility of higher taxes in retirement? And that's
(20:24):
what we're talking about today. You need to have a plan,
you need to have an investment plan, a tax plan
and also an income plan eight three to three MAGI
tax schedule time to meet with us. We have obvious
on both sides of the day ad three to three
MAGI tax and.
Speaker 3 (20:38):
By the way, we do tax preparation. So if you
want to make an appointment, come on in. But let
me mention one thing that happened this week. And it's
really simple. Everyone that works you make income, right, who's
the first one that you have to pay Uncle Sam? Oh?
So so let's just say you make twenty thousand last
year and you make fifty thousand this year, you've increased
by thirty thousand. Is that thirty thousand free, Chris, Nope,
(20:59):
you have to pay Uncle sam oh. You have to
pay Uncle Sam. See I'm making light of this because
this is where people getting confused. When I talked about
the five ways that taxes are going to go up,
so many of you assume that your taxes will be
lower in the future. Not true, it's not true. But
as today's retireies are discovering, that's often not the case.
And we see this every day. In a perfect example
(21:20):
is when you make more money, your tax bracket's going
to go up. You have to pay more. So if
taxes keep going up and the tax brackets keep rising,
you get less. So we can help you understand the
five ways your taxes could go up in retirement. And
again I have a brochure. If you want to call
my office, just give me your email. I'll be glad
to send it to you in an email and you
can see for yourself. Well, come to one of our
seminars and I'll give you that at the seminar, and
(21:43):
how we can help you mitigate that tax risk. Think
about that. Does your advisor talk about mitigating tax risk? No,
they talk about putting more money in another account. So
from the congressional spending to tax bracket changes, you're going
to learn how to position taxes in your retire goronment.
And every news item out of Washing con seems to
include details of a new or expanded tax. Let me
(22:06):
ask you a question. So, the total government revenue in
twenty twenty two was four point nine trillion. That's what
the government takes in in revenue that was in twenty
twenty two. Total government spending in fiscal year twenty two
was six point three trillion. Do the math. It's like,
you know, you have a credit card. You got to
pay it back, Okay, but we're not even paying back
(22:28):
half of it. Chris, Well, let's just said. I mean
things you can't control.
Speaker 1 (22:31):
Right.
Speaker 2 (22:31):
We know that the government is spending more. That's not
a topic we want to go into right now. It
is what it is. They're spending more than they take in.
But what does that mean to you? What does that
mean to me?
Speaker 3 (22:41):
Right? What does it mean to our generation?
Speaker 2 (22:43):
It means that we are going to pay more in
tax because they know how much money you have in iras.
They know how much money you have in form one case,
they know how much money you having a TSP if
you're a federal employee, they know these are all qualified
accounts that are infected with tax. So very simple, that's
your You're exposed to tax risk. You're exposed to legislative
risk where they can change the rules. What I mean
(23:05):
by that is they can change the rules on how
much they tax you they tax me. Right, these are
things that we need to start controlling today, and you
can if you put together a tax plan. That's why
I ask you, what's your plan? What's your tax plan?
If you don't have one, now is the time to
start really putting one together and we can help. So
pick up the phone, schedule time to meet with us.
(23:26):
Because when we put together a tax plan, we can
put together an income plan. And what's better having taxable
income or tax free income? And when you can show
a tax return like we do to our clients in
retirement that I don't care if they increase taxes because
our clients' plans have tax free money. So when they
retire and they take income and government says, well, we
(23:48):
need to pay our deficeit and we need to increase taxes,
our clients aren't affected by that because they have a
tax plan.
Speaker 3 (23:55):
That's what we can do for you. So pick up
the phone, schedule time to meet with us. Eight three
to three Magi tax as eight three three Maggie tax
And this is a race that we all must learn
to win where we're ahead of it, not behind it,
because that's when people get in trouble. In at every
seminar that we do, this is the question that we
ask the audience, and I'm asking all of you how
many people think taxes are going up in the future,
(24:15):
And I know everybody raises their hand. Nearly everyone raised
their hands because it's going to go up. So the
point Chris and I are making today is tax planning
is essential. You've got to start thinking about it. Whether
you have low income or a high income, it doesn't
make a difference. Yet. While you understand we've entered it
into a rising tax environment, surprisingly few of you have
used that knowledge to change how you save for retirement.
(24:38):
And if your advisor's not talking to you about this,
which is why we say, go to my retirement calculator
on Maggie tax dot com and see for yourself what
your tax is going to be. Chris, that's very important.
Speaker 2 (24:49):
Well, let's just talk about that. You know, when we
meet with clients, what are we seeing. We're seeing tons
of Irrah accounts, tons of Form and K accounts, tons
of these accounts that are deferred. We see this, and
they've been with their as for years. They're not doing
the right job. I'll tell you what, Yeah, anyone can
manage your money. You can manage yourself. With this market
where it's at and the amount of money they're pumping
in and the environment with they're playing with the interest rates,
(25:11):
everyone's making money.
Speaker 3 (25:12):
That's easy. That's the easy part of it. But what
about the end of the game.
Speaker 2 (25:15):
You know when you think about a football game and
you're up at halftime, you're all happy because you're up
by forty points, but guess what, You've got to finish
the game. And that's where Uncle Sam comes in, and
that's where he blows it right by you and you
lose forty three to forty because you did not have
a tax plan. So pick up the phone, schedule time
to meet with us. Let's put together an investment plan.
Let's put together an income plan. Let's put together that
(25:37):
tax plan that you need to generate guaranteed safety and
also income in the future. What's wrong with going to
the mailbox every month when you're retired, pick it up
a check and that's tax free money and spending the
heck out of it and doing it all over again
for the rest of your life.
Speaker 3 (25:51):
How cool would that be?
Speaker 2 (25:52):
Because when you hear the news and hear all the
drama and they talk about, oh my gosh, taxes are
going to go up, tax are the highest it's ever been,
you can say and put a smile on your face
and say that doesn't affect.
Speaker 3 (26:03):
They're not higher, they're lower. The lowest point now chorus
but how cool could it be in the future when
that happens that you don't have to be affected by it.
That's why we can put together a tax plan eight
three three Magi Tax. Get the tax plan. We have
office on both sides of the bay. Eight three to
three Maggie Tax. So if you all continue to defer taxes,
which many of you do in an IRA four oh one,
(26:24):
K four or three B on all or most of
your retirement assets, you're going to have a large tax
bill to pay. So why would you do that? If
you can do strategic planning or like Chris and I
talk about bucket planning, where you have income that may
be tax free, you have growth and you have later money,
but you take that money and you have tax free money.
(26:44):
We can do that. That's what we do. That's called
the Maggie Plan. It's a tax plan, it's an income plan,
it's an investment plan, and it's a legacy plan. And
please one other thing. Many of you don't have a
will or a trust and you sit back and say
I don't need it, because well you do, so visit
one of our seminar. Go to my website Maggie Tax
dot com. We have two seminars a month. Take a
look at the dates and times and locations and come.
(27:06):
There's no obligation, no lunch, no dinner, no nothing, just
explaining to you what this is about. I think that's
more important getting you education and understanding the language than
feeding people. And you know what, I've done that for
years and it's okay, but it's not what I want.
If you want information, then you come to my seminar.
I will give you the information because that's what you need.
So how can we help overcome this disconnect of taxes
(27:29):
and relegislative risk? And at Magi Tax we help our
clients face new risks. People work with Maggie Tax because
we help And here's the word mitigate risk. Chris, does
any advisor are talking about mitigate risk?
Speaker 2 (27:42):
No, they don't talk about that. That that's why it's
so disappointing. Think about it. You don't have clients like
we see this. We meet with clients and they come
in with statements. Yeah it's five hundred thousand, Yeah it's
one point two million, Yeah it's three hundred thousand, yeah
it's four million. It doesn't matter. At the end of
the day, there's no planning. There's no planning, it's just
investment accounts. You've got piles of money. We see in this.
This is what advisors are doing. They're just dealing with investments. Yeah,
(28:04):
you have money.
Speaker 3 (28:05):
I don't care. The fact of men is what's the
end of the game look like for you?
Speaker 2 (28:08):
The tax side of this, Because yeah, you can have
four million bucks, but guess what when we run the
tax time calculator and that four million dollars is not
worth four million, It's worth two million, or it's worth
two point five million. Guess what, Uncle Sam is your partner.
How do you remove Uncle Sam from your partner forever
and ever and ever? So we can show you how
(28:30):
to do this. So here's the misunderstanding that you just
said that people have. I have a lot of money.
I have two million, I have one million, I have
five hundred thousand.
Speaker 3 (28:37):
No you don't. Here's the question that we ask every
single person that comes into meets with us. How much
income do you need per month? Forget about how much
you have. How much do you need per month? Am
I right or wrong? Yeah? And then where are we
going to get it from? And then when you start
looking at the numbers and you start budgeting and you
start figuring out, well, I only need this amount and
(28:57):
I'm okay, let the risk grow when put on a
tax free basis, Why would you not want to do that?
So how do we do that? It's real simple. We
use a process. We have a process at Maggie Tax.
We identify the risk. And this is so important because
older people are taking more risk than they need to
and the advisor's not talking about risk management we do.
We want to quantify that risk because maybe you're taking
(29:19):
too much risk and we can reduce the risks we
have more tax free money. And here's the thing, write
this down. We're going to build a plan to mitigate
to mitigate that risk. You know what, I challenge all
of you. Go to your advisor, go to your CPA
and ask them this question, how do you mitigate my
tax risk? And then be quiet. I guarantee you they're
going to look at you and going to stare at you, like,
what are you talking about? Mitigate lower the tax risk.
(29:42):
So it started with the market. Savers wanted to and
this is what Chris was talking about before, and they
needed the power of the stock market to grow their funds.
It was a simple formula. There was nothing wrong with it.
They put money aside, invest in the stock market and
watch it grow. Oh man, this is growing great, right Chris?
Until it didn't. Until it didn't, and it's gonna happen again.
(30:03):
So during the market downturn, savers learned about what risks,
what kind of risk Chris.
Speaker 2 (30:08):
There's different types of market risk, right, Inflation risk, we
see that. What about tax risk? These are things we're
talking about. So do you have a plan? Many people
out there don't. They just have piles of money. You
get those statements. You have a pile of money, big deal,
But how is it going to come out? What's the
end of the game look like for that account? Pick
up the phone, schedule time to meet with us. Let's
(30:30):
get together. I urge you to do this because we
see this each and every day. Many people they come in,
they think they have a plan, and guess what they
don't because when we do tax planning and tax preparation
each and every year, guess what they're paying taxes? And
then they're saying, what can I do?
Speaker 3 (30:45):
Well?
Speaker 2 (30:46):
You follow the crowd. You didn't listen and you didn't
put together a plan. Now is the time to do it.
Don't follow the crowd. Eight three three Magi Tax. That's
a three to three Magi tax. Visit our website at
maggietax dot com. There's so much there to help you.
Eight three three Magi Tax. Send appointment today. Eight three
three Magie Tax.
Speaker 1 (31:08):
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
(31:29):
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 2 (31:47):
Thanks for tuning in to the Magi Tax and Financial Show,
and throughout today's show we did discuss a lot of
different things. Education is so important and right now more
than ever, things are changing and you need to make
sure that you have a plan. That's why we call
the Maggie Plan advanced tax planning, Social security planning, income planning,
four on KSE solutions, Medicare solutions, legacy planning, roth conversions,
(32:10):
investment solutions. That's what we do. It's called the Maggie Plan.
So pick up the phone, schedule a time to meet
with us. Visit our website. We have office on both
sides of the day. We have seminar locations where you
can attend get educated. We have the three and one
seminar on a state planning, solid security planning, tax planning,
oh my gosh, all in one. You definitely need to
(32:31):
attend or just meet with us eight three to three
Maggie Tax.
Speaker 3 (32:35):
And I promise you this that I'll make it worth
your while when you attend, because I give out two books.
A first book, stop funding Uncle Sam's retirement. Get a
plan that's simple and easy to understand, and right from
the beginning. The chapter one is organizing your assets, which
is what Chris and I are talking about. Number two
the color of money. We talk about red money, green money.
(32:55):
How much of your money is at risk? And have
you done a risk tolerance because there are new strategies
that you could use. When you sit down with Chris
and see what they are. The other thing is the
big one understanding social Security. And Chris, when I give
this book out with the Social Security Guide, I have
to tell you the eyes on the Social Security Guide
and the questions we get which we talked about today,
(33:15):
are unbelievable because social Security doesn't tell them what we
tell them. And the Maximization Report, and you know this
as well as I do. It is powerful. And people
sit back and they go like, why aren't they telling
me any of this? What am I supposed to do?
We pay into social Security and we don't get any
help on it. That doesn't make sense. That's just one
thing that's part of the complete plan. Right.
Speaker 2 (33:36):
It's not just about investments. Anybody can manage your money.
You can do it yourself. We can talk about investments.
We do investments. We can show you how to protect
your money. We have yellow money and green money and
red money. We can break that down for you. We
can show you the type of risk tolerance date that
you're taking right now, and where you should be at
your age and where you are in your retirement. So
that's the investment planning. But you made a great point
(33:58):
that people talking about socialeus and how does that correlate
with your investments because that's an income plan. So that's
why we call it the Maggie Plan. So, as you mentioned,
complete planning is so important and providing you with knowledgeable,
informative and comprehensive financial guidance is what we do. So
pick up the phone, schedule a time to meet with
us eight three to three, Maggie tax and you talk.
Speaker 3 (34:19):
About complete plan and incomplete plan. And every time we
ask the people out there at the seminar do you
have a complete plan or incomplete plan? They look at
us and they go, I guess we have an incomplete plan.
But there's also something that you have to start looking
at new ideas for investing, ensuring that you're a plan
and your future. One thing we talk about is bucket planning.
You want to talk about that in a minute. Why
(34:40):
is bucket planning so important? And everything we're talking about
with social security, with a state planning and taxes, and
then the other part that we put this whole thing together.
It's a puzzle. We all talk about that, the asset
map and how this makes sense to a client, Chris
when they come in and they sit down and go
Now from the top down, they see and they go, wow,
I didn't know what was like that. That's it.
Speaker 2 (35:00):
You know, when you come in to meet with us,
We're going to show you a complete plan. We're going
to show you what your investments are going to do.
We are going to show you if they're going to
be safe, they're going to be at risk, or they're
going to provide income in the future. We're going to
show you that. And that's why every plan is different.
What do you want? Safety of your money important to you?
Are you a risk taker? Do you want more income?
(35:22):
Do you want guaranteed paychecks? Do you want more play checks?
What's a play check or playcheck is an additional income
stream that you can get every month and will come
in for the rest of your life. So you can
count on it coming in and you can play with it.
You can spend it to the fullest extent. You know
what about inflation? It's here, it's there, it will be
(35:43):
there for a long time. You need to make sure
that you're combating against it. That's why many people, I
don't care how much you have come into our office
and the main concern is am I going to outlive
my money? I don't care if they have millions of dollars.
That's where most of the people have the same content.
Am I going to outlive my money?
Speaker 3 (36:02):
Do you know that? Answer? For sure?
Speaker 2 (36:03):
If you don't, we can help. So pick up the phone,
schedule time to meet with us. Watch our TV show
every Sunday on ABC TV at ten thirty am. My gosh,
there's so much information right there to help you. But
more importantly, schedule time to meet with us. Eight three
three Maggie tax and.
Speaker 3 (36:20):
When you're registered for the seminar, it's ninety minutes. It's free,
there's no cost, there's no obligation. We're gonna give you
a lot of information to help you leave there. And
one more thing, Chris, so we can talk about you know,
we talked about social Security, we talked about taxes, we
talked about the red money, green money, we talked about
bucket planning. But there's one very important part of the puzzle.
(36:41):
It's called the income gap. And many people don't even
know they have an income gap. Can you kind of
make it simple and easy to k to stand.
Speaker 2 (36:50):
Yeah, and you know, think about this. You're working and
just use even numbers, say you're making five thousand a month,
coming in every month because you're working, you have a
paycheck coming in. But what happens when you stop working?
That's where the Social Security comes in. You're gonna get
Social Security? Do you qualify? Are you gonna get spousal benefits?
Speaker 3 (37:05):
What is it?
Speaker 2 (37:05):
But what if you're gonna get two thousand a month
and your spouse is gonna get a thousand a month.
That's three thousand a month, So that means you're used
to five thousand coming in, now you're getting three. How
are you gonna fill that income gap that's that two
thousand dollars difference every month? Are you gonna have a
guaranteed paycheck that comes in to fill half of that
or all that? Do you need to rely on your
(37:25):
on your investments? Are they going up and they going down?
Or do you feel you're gonna outlive your money? So
how are you filling that income gap in retirement? Most
people don't know. But more importantly, taking another level, how
is it going to tax? Get taxed? So maybe you
need six thousand dollars instead of that five thousand because
you gotta pay a thousand dollars tax every year because
you have iras and form one case that are infected
(37:48):
with taxes. So guess what, You gotta pay taxes, So
how are you gonna do it? That's what we're talking about.
So when you come in to meet with us, we're
gonna put together the Maggie Plan. It's income planning, tax planning,
advanced tax planning, investment planning, a state planning. That's what
we do. We're going to provide you with knowledgeable, informative
and comprehensive financial guidance to help you eight three three
(38:09):
Maggie Tax Real Simple.
Speaker 3 (38:11):
Go to our website, Maggie Tax dot com right now
or after the show. Register for our seminars and also
go to the retirement tax Bill. Plug in your information.
Let's find out what you're going to pay in taxes,
and in thirty seconds, I promise you you'll get an
email to show you what your retirement tax bill is
going to be. Watch your TV show every Sunday at
ten thirty on ABC TV. Tendar seminar Maggie Tax dot Com.
(38:33):
Click on seminars and also click on the retirement tax Bill.
We appreciate you listening today. We hope you learned something
and we got educated and you're listening to the Maggie
Tax and Financial Show.
Speaker 1 (38:43):
You've been listening to The Maggie Tax and 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 Maggie Tax dot
com or call eight one three three two two twenty
five twenty. That's eight one three three two two twenty
(39:05):
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 a 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
and 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):
Welcome everyone, and thanks for tuning into the Maggie Tax
and Financial Show. And each and every week we are
so glad to be here. Why because we can empower
How are you in so many different ways for your
retirement future. For so many years we have been sharing
retirement strategies and concepts that work. We have explained the
tremendous benefits of working with Maggie Tax Advisory and creating
(01:14):
the Maggie Plan so you could take action and create
a retirement plan that's simple and easy for you to understand.
Whether it's tax planning, or income planning, or investment planning,
or social security or Medicare planning, we can help and
even a state planning as well. So if you have
questions on where do I go for a will or
a trust or a pal of attorney, or to have
(01:35):
more income on a most tax efficient way, or what
about my investments and rollover form and K we can help.
Pick up the phone, schedule time to meet with us.
Eight three to three Magi Tax. That's eight three three
Maggi Tax. And today, as always, I'm here with my
dad and coast of the show, Robert Maggie. So welcome everyone,
and let's start with today's show.
Speaker 3 (01:53):
Absolutely, thank you for joining us today and you're listening
to the Maggie Tax and Financial Show. Be sure to
visit our website Maggia dot com, click on the retirement
bill and find out what your retirement bill is going
to be in thirty seconds, and you have to decide
that you want to take action to successfully deal with
the challenges that we're going to face to achieve financial
success and retirement success and financial freedom. A lot of
(02:17):
things are changing. Legislature, risk is there, We're going to
have our taxes changed in two years. There's so many
things going on. Financial freedom is the ultimate goal for
all Americans. I don't care how old you are, and
I've asked you many times if you wanted to understand
the new language regarding retirement planning, and if you're working
with an advisor that does not have your best interest
(02:38):
in mind, it's time to get a second opinion eight
three to three Maggie tax. And if he or she
tells you that he has the best stock, the best bond,
or a mutual fund with the best interest rate, the
lowest premium, the highest cash value, would that be enough
to inspire you to want to buy from him. I'm
a member of a five oh one C three organization.
It's called the Association of Financial Consultants, and we are
(03:02):
an educational resource for those close to retirement or recently
retired or anyone out there. And we have seminars that
are educational workshops and they're presented by a select few
retirement specialist who work with Maggie Tax and we are
dedicated to educating the public. The bottom line here is
there's no selling and there's no sales pitch. I had
a gentleman come to me and he said, you're a
(03:23):
great salesman. No I'm not. I'm not a salesman because
I don't sell a product. There's a service and a
strategy that you have to understand and what's strictly for
educational purposes. And for many of you that have worked
with us, this is what you know already. You have
the opportunity to meet one with when you register our seminar,
go on our website Maggie tax dot com. It's a
(03:43):
state planning, social Security planning and taxes and Chris. One
thing I will say, and this is important. Telling is
selling and we do not do that. Asking is advocating,
and that's what it's about. You know, we're here to
educate you. There's so much to talk about. My gosh,
I mean, think about it. Do you want just investment.
Speaker 2 (04:00):
That grows and grows and grows and then you get
tax heavily from it. No, it doesn't work that way
because that's not the complete job. I mean, do you
want to put together a great plan, but then again
your accounts have to go through probate if something happens
to you, No, that's not a great plan. Do you
want all this income and then get smashed with taxes? No,
that's not a great plan either. So you have to
(04:21):
make sure that all these different strategies work together. And
that's why we call it the Maggi plan. You need
a complete plan. Our clients have complete plans. It's tax planning,
income planning, investment planning, a state planning. My gosh, you know,
many advisors don't even talk to their CPA. Many many
advisors don't even talk to their estate planning attorney. Many
(04:42):
advisors don't even have these combinations put together for their clients.
We do pick up the phone, schedule time to meet
with us because we can help eight three to three
Maggi tax and.
Speaker 3 (04:50):
One thing I always say, the more you tell someone something,
the more they tend not to believe you. So what
are they trying to sell me? Or even worse, what
are they not telling me? That's the case. Telling doesn't work,
Educating does. And you know this. When you go to school,
you get educated, so you know what you're studying and
what you should know. Our customers don't care how much
(05:11):
we know until they know how much we care. And
we do this at every event because it's about you.
Everything is about you. And register now at Maggie tax
from one of what seminars. It's for our education seminars.
It's free, there's no cost, no obligation. You know what
the best thing is. We do it at libraries. I
don't buy dinners anymore for anybody, Chris, It's doesn't work.
The dinner is not the issue. It's the education that is.
(05:33):
And when people come to the seminars and they sit there,
all odds are on the screen and on when we
talk about whatever topic it is because that's what they
came to listen to, to get educated.
Speaker 2 (05:43):
It's very simple, right, and that's why it's so important.
And then it's why our goal is to help you
take action. My gosh, we want to help you design
an income plan that so many people of you don't have.
We call it bucket planning. It's time to make sure
that you have a purpose with every account that you have.
Call today and we can set up a time to
meet with us. We can explain the bucket process, the
bucket planning process, and how it will benefit you for
(06:05):
have guaranteed income for the rest of your life. We
can explain the simple language of income planning, tax planning,
as well as investment planning. Even when we offer solutions,
and when we offer several choices, many of you ask
questions like would this be a better strategy for you
and your family and your business? Where do you think
or feel this would be more of efficient way to
(06:26):
stay out in front of all these challenges. Absolutely, is
your advisor asking you these same questions? And the question
is is probably? The answer is probably not. You know,
That's why we are different. That's why when you work
with an advisor who has your best interest in mind
from the very first time we meet, you can make
a better decision. And that's what we do so well. Maggie,
Tax Advisor and Financial Group. When you come in to
(06:47):
meet with us, We're going to talk to you. I'm
want to listen to you. We're going to ask you
what's on your mind. My gosh, there's so many different
ways and different things we need to discuss. It's not
just about your investments, it's about your incoming and your
future taxes. Taxes are our biggest expense. So what if
you have these great investments but they're causing unnecessary taxes?
(07:08):
Do you want to know?
Speaker 3 (07:09):
When?
Speaker 2 (07:09):
Would you want to know? I would want to know now?
So pick up the phone, schedule time to meet with us.
Eight three three Maggie tax.
Speaker 3 (07:15):
And here's the best thing. Our customers feel involved and participate,
rather than someone being led around and not understanding what
they're doing. The biggest thing we see is well, I
just bought this because he told me or she told me. No,
that's not it. Do you understand? Because before you leave
my office and speak with Chris or you speak with Kirk,
I want you to know what we did, and you're
going to repeat back, Hey, this is what I understand.
(07:37):
My taxes are going to go down, my social security
is are going to be okay. This is what you
have to understand the language. And additionally, we always ask
you questions because it helps us build trust a lot
more quicker than you and effective and efficiently. I ask
you a question, I want you to answer it because
it's going to be your answer, not mine, and we
build trust when we ask about your concerns, and then
(07:59):
we can create a plan that is simple and easy
to understand, and we call it the Maggie Plan. You
all know that it's simple and easy to stand. So
let me ask you a question. I have a question
for all of you out there, and think about this.
Wouldn't it be amazing if we could develop a strategy
that even if no one knew what was going to happen,
(08:19):
you would still be protected. Think about that. Wouldn't it
be amazing if we could develop a strategy that even
if no one knew what was going to happen, you
would still be protected. Chris? How powerful is that? Very powerful?
Speaker 2 (08:33):
And better still, wouldn't the ideal strategy be one that
allowed us to access the money that we didn't lose
so we could take advantage of the opportunity that was
being provided. So think about this for a second. A
lot of people think about the stock market. You only
have to make money if the market goes up. Well,
is the market going to just keep going.
Speaker 3 (08:52):
Up up, up, up, up up up up?
Speaker 2 (08:55):
No, it goes down, right, So what about these these turns?
What about two thousand and one, what about two thousand
and eight? Many people went down with it, and if
they had their retail broker, then guess what, everyone went
down with it. But not everybody, not everyone in this world.
That's why if you have a complete plan or on
the institutional side of investing, my gosh, you have opportunities
(09:16):
with a purpose, and that's why you didn't go down
forty percent like everybody else. So not everyone is in
the same boat. Not every advisor is the same. You
need to understand that many people don't. So pick up
the phone, schedule time to meet with us. Let's get together,
Let's learn about one another. Let's talk about the different
options for you so you could take advantage of your retirement.
Speaker 3 (09:36):
And finally, wouldn't it be spectacular if we could do
all of this with little or no tax liability. If
you knew you could develop a strategy like that, when
would you want to get started? That's the question before
or after the next downturn that Chris was talking about.
So we just gave you a reason to contact Maggie
Tax today at eight three to three Maggie Tex Visit
(09:57):
Maggie tax dot com. Register for all three and one
seven that we talk about state planning, social security planning,
and the big one right now is tax planning. Register
today and all the upcoming dates and locations are on
Maggie tax dot com. It's free, there's no selling, it's educational.
It's at a library, so you can sit down and
basically pay attention. Folks, it's up to you. You've got
(10:18):
to take action, not me, not Chris. We can help
you get there. If you have questions, you've got to
let us know what they are. Many of you listening
today are sitting back and you know, afraid to ask
a question. Well you shouldn't. They're afraid to ask, you know,
what is my account doing? Can we do a second opinion?
Why are you doing that? There's no reason to so
pick up the phone eight three to three, Maggie Tax.
(10:39):
Visit our website, Maggie Tax dot com. Don't forget. Every
Sunday at ten thirty on ABC TV, tune into the
Maggie Tax and Financial Show and we have a lot
going on there. So pick up the phone eight three
three Maggie Tax. Visit Maggie Tax dot com. You're listening
to the Magi Tax and Financial Show.
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 ma gg I tax dot com or call eight
(11:19):
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, and you're listening to the Maggie Tax and
Financial Show. My name is Robert Maggie and I'm here
with my son Chris Maggie. And don't forget visit our website,
Maggie Tax dot com and tune in every Sunday at
ten thirty on ABC TV to the Maggie Tax and
Financial Show. So along the way, we get a lot
of clients to come in and we do different plans
for these folks, whether it be income, whether it be
(11:56):
tax planning. But Chris, let's talk about when someone comes
in and they want safety of their money. They want
guaranteed income, and they want you know, longevity where they
have money left over for the kids.
Speaker 2 (12:06):
How do we go about that great question? And you know,
if you're out there listening today, and just give an example.
We had a client that came in three years ago
and we just you knowed the reviews each and every year,
and they came in with six hundred thousand dollars and
they retired and they have some income coming in, so
we really didn't need to give them income because they
had two pensions and social securities coming in. So four
income streams that totaled seven thousand dollars a month of
(12:29):
income net after tax, and they only need about five
thousand a month, so they have positive cash flow of
two thousand dollars a month. So they said, well, what
do we do with our six hundred thousand dollars? And
I said, well, what do you want to do with it?
And they sat back and they said, well, we don't
really know, but we do have money in the market
and we're playing the market and it's going up and down.
And I asked them, as safety of your money important
(12:50):
to you? And they both sat back and they said,
at this phase of the game, absolutely it has, isn't
it to everybody? And I said, no, it's actually not.
We have clients that come in sometime and you know,
if they lose ten bucks, they can't do that, they
can't stomach that, they can't sleep at night. They have
other clients that come in and if they lose a
couple hundred grand because the mark goes down, it's not
a big deal.
Speaker 3 (13:09):
It's going to come back. So my question to you
out there is where are you?
Speaker 2 (13:12):
And if you are sitting in a volatile account and
you don't want to be, then you need to raise
your hand and pick up the phone and schedule time
to meet with us. If you are on a conservative
account and you want to take more risk with some
of your money, then you need to pick up the
phone and raise your hand and schedule time to meet
with us. But going back to the client who had
six hundred thousand dollars of money, what we did was
(13:32):
we did the color of money. We did bucket planning.
We call it now money later money never money. And
when we organize these accounts into different buckets, they had
safety of their money in the short term. They had
long term growth with money on the other side, which
is never to later money. And what we did was
we can deal with the risk with those accounts that
(13:54):
we're not going to touch for ten to fifteen to
twenty years. So we did strategic planning where we made
these buckets where they had control flexibility. And that's where
many people come in they have no plan. But when
they leave us and they work with us, guess what,
they have a plan.
Speaker 3 (14:13):
Here's what I would say to that, because this is
the biggest question. You're right on everything you said, and
it's encouraging to know that when people come in, this
is what we talk about. But here's the big thing.
When I ask people to bring in their statement. As
you know, many of them have a brokerage account, they
have stocksponds and mutual funds. They have some risk and
no risk. They have some in the fixed account. But
(14:33):
that's not a plan. That's not a plan. That's not
the Maggie plan, that's not an income plan, that's not
a tax plan. And what Chris is referring to, if
you've heard as many times talk about bucket planning, this
is where we can put a plan together for you
based on the money that you have. Now, when we
do a risk tolerance form, and Chris, this is so
important we talk about it. The risk tolerance form tells
(14:53):
us more about a client, what risk they're taking. And
many times you can talk about this, they're in more
more risk than they even know they are because their
advisor doesn't sit down and tell them that. And that's
a big problem, right, that's it.
Speaker 2 (15:05):
I mean, you know, when we do an analynce of
your accounts, many people have just piles of money.
Speaker 3 (15:09):
Think about this.
Speaker 2 (15:10):
You have five statements that come in the mail, right,
three statements Some stamans won't even come in the mail.
Speaker 3 (15:15):
They come every quarter.
Speaker 2 (15:16):
You might have an old form one K that you
never really look at anymore, maybe two or three of them, right,
because you've changed your employers. So the bottom line here
is many people have piles of money and there's no
concrete to those piles. They can be tumbled down.
Speaker 3 (15:31):
Think of it.
Speaker 2 (15:32):
You know, they just piles of sand, right, and they
can be blown away by just market fluctuation.
Speaker 3 (15:38):
Is that what you want?
Speaker 2 (15:39):
Or do you want a concrete plan where if there
is wind blowing and storms changing and things happening and
hurricanes and whatever it is that your account doesn't move.
That's what we need to talk about. Your color of money.
What do you want your money to do for you?
Because if you're looking for a plan, an investment plan,
we can help. And that's why you pick up the phone.
Schedule time to meet with us. Eight three three, Maggie tax.
(16:00):
Let's get a second opinion on what you currently have
and let's do bucket planning for you.
Speaker 3 (16:04):
And again I challenge all of you if you have
a plan. Now, we're not trying to break a relationship here.
What we're trying to do is when you come in
and we show you a different strategy and then you
sit back and say, wow, my guy or mi gal
has not told me that, then we have something to
talk about. Because this is the new rules of retirement.
You have to understand what we're talking about roth convergence
and tax planning and income planning. If your folks are
(16:25):
not talking about that, shame on them, because when it
comes to retirement, you want to make sure that you
have enough coming in, like Chris says, the front door
every month where you can just you know, pick up
the check, cash the check and not worry about the
other expenses. And when you start taking a lot of risks, Chris,
and this is what we see because that's what they
were taught. Take a lot of risks. See if the
market goes up, and we all know what's going on
(16:46):
with the market goes up, it goes down. But on
our Maggie plan, the way we do it, we position
a lot of money, not a lot of money, but
the portion that you want to be safe in green buckets.
Green buckets mean it doesn't go down, it only goes up.
Speaker 2 (16:59):
And there's no fees to those buckets either, So they
could be safety and no fees, and you don't have
to worry about the resk.
Speaker 3 (17:05):
Which is the biggest question. What's the biggest concern. Everybody
comes in, what's your fee?
Speaker 2 (17:08):
Worried about the fee to play? Right, But again it's
not about that. It doesn't have to be that way
if you want safe money.
Speaker 3 (17:13):
But if you're in a broken's account and you have
an IRA and you're paying fees, you're paying fees on
an account that should be growing, not going down, well
that's it.
Speaker 2 (17:20):
And if no one's watching it and it's pretty much
just all transactions and you have loads and commissions, guess
what you're not your account's not doing what you want
it to do. So that's why it's so important. It's
encouraging pick up the phone, schedule time to meet with us.
We have offices standing by. Let them know that it's
urgent that you need to come in and meet with us.
Because when we see retirement, there's the accumulation phase, there's
(17:41):
the distribution phase of your retirement. Where are you right now?
Because if you are approaching the distribution phase or in
the distribution phase and you see these big volatility markets
go up and they go down, if that doesn't affect
you or scare you, then maybe you start looking at
what's happening. Because if it is affecting you and worrying
(18:01):
you and keeping you up at night, then maybe now
is a time, more than ever before, to make sure
that you get a second opinion and we can help.
Eight three three Maggie Tax and don't.
Speaker 3 (18:10):
Forget to watch our TV show on Sunday at ten thirty.
We have seminars coming up every month on a state planning,
on tax planning. If you go to my website, Maggie
Tax dot com, they're all listed there. We do them
in libraries so we can educate you. And that's the
whole point for you to come in and be educated
and not be sold, because once you understand the ground
rules of this income planning, tax planning, investment planning, market risk,
(18:34):
you know all the types of risks that are out there,
the health risk. This is important for all of you
out there. Pick up the phone eight three to three
Maggie Tax. Visit our website, Maggie tax dot com. Click
on seminars and register for one of the seminars. They're
free and their educational eight three three Magi Tax and
visit the Maggie Tax dot Com Maggie tax dot com website.
On the retirement calculator, click on Maggie tax dot com.
(18:57):
Give us a call right now eight three to three
Maggie Tex.
Speaker 1 (19:03):
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.
Speaker 3 (19:13):
Maggie.
Speaker 1 (19:13):
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 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
(19:37):
Tax Advisory and Financial Group, Robert and Chris Maggie.
Speaker 2 (19:41):
Welcome back to the Maggie Tax and Financial Show and
feel free to visit our website, Maggie Tax dot com.
There's so much information right there at your fingertips. Do
you have a tax plan, do you have an income plan?
Do you have an investment plan? And you know what,
do you have an estate plan? If you said no
to any one of those, you need to listen up
because hours of time to put together a plan for
(20:02):
you and your family. A three to three Magi tax,
that's a three to three Maggie tax. There's so much
there that we could talk about. You know, at our firm,
we talk about the Maggie Plan. You know, we're talking
about taxes today, but how do they incorporate with your investments?
If you are paying more in tax, guess what, less
income to you and your family. So are you prepared
for the possibility of higher taxes in retirement? And that's
(20:24):
what we're talking about today. You need to have a plan,
you need to have an investment plan, a tax plan
and also an income plan eight three to three MAGI
tax schedule time to meet with us. We have obvious
on both sides of the day ad three to three
MAGI tax and.
Speaker 3 (20:38):
By the way, we do tax preparation. So if you
want to make an appointment, come on in. But let
me mention one thing that happened this week. And it's
really simple. Everyone that works you make income, right, who's
the first one that you have to pay Uncle Sam? Oh?
So so let's just say you make twenty thousand last
year and you make fifty thousand this year, you've increased
by thirty thousand. Is that thirty thousand free, Chris, Nope,
(20:59):
you have to pay Uncle sam oh. You have to
pay Uncle Sam. See I'm making light of this because
this is where people getting confused. When I talked about
the five ways that taxes are going to go up,
so many of you assume that your taxes will be
lower in the future. Not true, it's not true. But
as today's retireies are discovering, that's often not the case.
And we see this every day. In a perfect example
(21:20):
is when you make more money, your tax bracket's going
to go up. You have to pay more. So if
taxes keep going up and the tax brackets keep rising,
you get less. So we can help you understand the
five ways your taxes could go up in retirement. And
again I have a brochure. If you want to call
my office, just give me your email. I'll be glad
to send it to you in an email and you
can see for yourself. Well, come to one of our
seminars and I'll give you that at the seminar, and
(21:43):
how we can help you mitigate that tax risk. Think
about that. Does your advisor talk about mitigating tax risk? No,
they talk about putting more money in another account. So
from the congressional spending to tax bracket changes, you're going
to learn how to position taxes in your retire goronment.
And every news item out of Washing con seems to
include details of a new or expanded tax. Let me
(22:06):
ask you a question. So, the total government revenue in
twenty twenty two was four point nine trillion. That's what
the government takes in in revenue that was in twenty
twenty two. Total government spending in fiscal year twenty two
was six point three trillion. Do the math. It's like,
you know, you have a credit card. You got to
pay it back, Okay, but we're not even paying back
(22:28):
half of it. Chris, Well, let's just said. I mean
things you can't control.
Speaker 1 (22:31):
Right.
Speaker 2 (22:31):
We know that the government is spending more. That's not
a topic we want to go into right now. It
is what it is. They're spending more than they take in.
But what does that mean to you? What does that
mean to me?
Speaker 3 (22:41):
Right? What does it mean to our generation?
Speaker 2 (22:43):
It means that we are going to pay more in
tax because they know how much money you have in iras.
They know how much money you have in form one case,
they know how much money you having a TSP if
you're a federal employee, they know these are all qualified
accounts that are infected with tax. So very simple, that's
your You're exposed to tax risk. You're exposed to legislative
risk where they can change the rules. What I mean
(23:05):
by that is they can change the rules on how
much they tax you they tax me. Right, these are
things that we need to start controlling today, and you
can if you put together a tax plan. That's why
I ask you, what's your plan? What's your tax plan?
If you don't have one, now is the time to
start really putting one together and we can help. So
pick up the phone, schedule time to meet with us.
(23:26):
Because when we put together a tax plan, we can
put together an income plan. And what's better having taxable
income or tax free income? And when you can show
a tax return like we do to our clients in
retirement that I don't care if they increase taxes because
our clients' plans have tax free money. So when they
retire and they take income and government says, well, we
(23:48):
need to pay our deficeit and we need to increase taxes,
our clients aren't affected by that because they have a
tax plan.
Speaker 3 (23:55):
That's what we can do for you. So pick up
the phone, schedule time to meet with us. Eight three
to three Magi tax as eight three three Maggie tax
And this is a race that we all must learn
to win where we're ahead of it, not behind it,
because that's when people get in trouble. In at every
seminar that we do, this is the question that we
ask the audience, and I'm asking all of you how
many people think taxes are going up in the future,
(24:15):
And I know everybody raises their hand. Nearly everyone raised
their hands because it's going to go up. So the
point Chris and I are making today is tax planning
is essential. You've got to start thinking about it. Whether
you have low income or a high income, it doesn't
make a difference. Yet. While you understand we've entered it
into a rising tax environment, surprisingly few of you have
used that knowledge to change how you save for retirement.
(24:38):
And if your advisor's not talking to you about this,
which is why we say, go to my retirement calculator
on Maggie tax dot com and see for yourself what
your tax is going to be. Chris, that's very important.
Speaker 2 (24:49):
Well, let's just talk about that. You know, when we
meet with clients, what are we seeing. We're seeing tons
of Irrah accounts, tons of Form and K accounts, tons
of these accounts that are deferred. We see this, and
they've been with their as for years. They're not doing
the right job. I'll tell you what, Yeah, anyone can
manage your money. You can manage yourself. With this market
where it's at and the amount of money they're pumping
in and the environment with they're playing with the interest rates,
(25:11):
everyone's making money.
Speaker 3 (25:12):
That's easy. That's the easy part of it. But what
about the end of the game.
Speaker 2 (25:15):
You know when you think about a football game and
you're up at halftime, you're all happy because you're up
by forty points, but guess what, You've got to finish
the game. And that's where Uncle Sam comes in, and
that's where he blows it right by you and you
lose forty three to forty because you did not have
a tax plan. So pick up the phone, schedule time
to meet with us. Let's put together an investment plan.
Let's put together an income plan. Let's put together that
(25:37):
tax plan that you need to generate guaranteed safety and
also income in the future. What's wrong with going to
the mailbox every month when you're retired, pick it up
a check and that's tax free money and spending the
heck out of it and doing it all over again
for the rest of your life.
Speaker 3 (25:51):
How cool would that be?
Speaker 2 (25:52):
Because when you hear the news and hear all the
drama and they talk about, oh my gosh, taxes are
going to go up, tax are the highest it's ever been,
you can say and put a smile on your face
and say that doesn't affect.
Speaker 3 (26:03):
They're not higher, they're lower. The lowest point now chorus
but how cool could it be in the future when
that happens that you don't have to be affected by it.
That's why we can put together a tax plan eight
three three Magi Tax. Get the tax plan. We have
office on both sides of the bay. Eight three to
three Maggie Tax. So if you all continue to defer taxes,
which many of you do in an IRA four oh one,
(26:24):
K four or three B on all or most of
your retirement assets, you're going to have a large tax
bill to pay. So why would you do that? If
you can do strategic planning or like Chris and I
talk about bucket planning, where you have income that may
be tax free, you have growth and you have later money,
but you take that money and you have tax free money.
(26:44):
We can do that. That's what we do. That's called
the Maggie Plan. It's a tax plan, it's an income plan,
it's an investment plan, and it's a legacy plan. And
please one other thing. Many of you don't have a
will or a trust and you sit back and say
I don't need it, because well you do, so visit
one of our seminar. Go to my website Maggie Tax
dot com. We have two seminars a month. Take a
look at the dates and times and locations and come.
(27:06):
There's no obligation, no lunch, no dinner, no nothing, just
explaining to you what this is about. I think that's
more important getting you education and understanding the language than
feeding people. And you know what, I've done that for
years and it's okay, but it's not what I want.
If you want information, then you come to my seminar.
I will give you the information because that's what you need.
So how can we help overcome this disconnect of taxes
(27:29):
and relegislative risk? And at Magi Tax we help our
clients face new risks. People work with Maggie Tax because
we help And here's the word mitigate risk. Chris, does
any advisor are talking about mitigate risk?
Speaker 2 (27:42):
No, they don't talk about that. That that's why it's
so disappointing. Think about it. You don't have clients like
we see this. We meet with clients and they come
in with statements. Yeah it's five hundred thousand, Yeah it's
one point two million, Yeah it's three hundred thousand, yeah
it's four million. It doesn't matter. At the end of
the day, there's no planning. There's no planning, it's just
investment accounts. You've got piles of money. We see in this.
This is what advisors are doing. They're just dealing with investments. Yeah,
(28:04):
you have money.
Speaker 3 (28:05):
I don't care. The fact of men is what's the
end of the game look like for you?
Speaker 2 (28:08):
The tax side of this, Because yeah, you can have
four million bucks, but guess what when we run the
tax time calculator and that four million dollars is not
worth four million, It's worth two million, or it's worth
two point five million. Guess what, Uncle Sam is your partner.
How do you remove Uncle Sam from your partner forever
and ever and ever? So we can show you how
(28:30):
to do this. So here's the misunderstanding that you just
said that people have. I have a lot of money.
I have two million, I have one million, I have
five hundred thousand.
Speaker 3 (28:37):
No you don't. Here's the question that we ask every
single person that comes into meets with us. How much
income do you need per month? Forget about how much
you have. How much do you need per month? Am
I right or wrong? Yeah? And then where are we
going to get it from? And then when you start
looking at the numbers and you start budgeting and you
start figuring out, well, I only need this amount and
(28:57):
I'm okay, let the risk grow when put on a
tax free basis, Why would you not want to do that?
So how do we do that? It's real simple. We
use a process. We have a process at Maggie Tax.
We identify the risk. And this is so important because
older people are taking more risk than they need to
and the advisor's not talking about risk management we do.
We want to quantify that risk because maybe you're taking
(29:19):
too much risk and we can reduce the risks we
have more tax free money. And here's the thing, write
this down. We're going to build a plan to mitigate
to mitigate that risk. You know what, I challenge all
of you. Go to your advisor, go to your CPA
and ask them this question, how do you mitigate my
tax risk? And then be quiet. I guarantee you they're
going to look at you and going to stare at you, like,
what are you talking about? Mitigate lower the tax risk.
(29:42):
So it started with the market. Savers wanted to and
this is what Chris was talking about before, and they
needed the power of the stock market to grow their funds.
It was a simple formula. There was nothing wrong with it.
They put money aside, invest in the stock market and
watch it grow. Oh man, this is growing great, right Chris?
Until it didn't. Until it didn't, and it's gonna happen again.
(30:03):
So during the market downturn, savers learned about what risks,
what kind of risk Chris.
Speaker 2 (30:08):
There's different types of market risk, right, Inflation risk, we
see that. What about tax risk? These are things we're
talking about. So do you have a plan? Many people
out there don't. They just have piles of money. You
get those statements. You have a pile of money, big deal,
But how is it going to come out? What's the
end of the game look like for that account? Pick
up the phone, schedule time to meet with us. Let's
(30:30):
get together. I urge you to do this because we
see this each and every day. Many people they come in,
they think they have a plan, and guess what they
don't because when we do tax planning and tax preparation
each and every year, guess what they're paying taxes? And
then they're saying, what can I do?
Speaker 3 (30:45):
Well?
Speaker 2 (30:46):
You follow the crowd. You didn't listen and you didn't
put together a plan. Now is the time to do it.
Don't follow the crowd. Eight three three Magi Tax. That's
a three to three Magi tax. Visit our website at
maggietax dot com. There's so much there to help you.
Eight three three Magi Tax. Send appointment today. Eight three
three Magie Tax.
Speaker 1 (31:08):
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
(31:29):
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 2 (31:47):
Thanks for tuning in to the Magi Tax and Financial Show,
and throughout today's show we did discuss a lot of
different things. Education is so important and right now more
than ever, things are changing and you need to make
sure that you have a plan. That's why we call
the Maggie Plan advanced tax planning, Social security planning, income planning,
four on KSE solutions, Medicare solutions, legacy planning, roth conversions,
(32:10):
investment solutions. That's what we do. It's called the Maggie Plan.
So pick up the phone, schedule a time to meet
with us. Visit our website. We have office on both
sides of the day. We have seminar locations where you
can attend get educated. We have the three and one
seminar on a state planning, solid security planning, tax planning,
oh my gosh, all in one. You definitely need to
(32:31):
attend or just meet with us eight three to three
Maggie Tax.
Speaker 3 (32:35):
And I promise you this that I'll make it worth
your while when you attend, because I give out two books.
A first book, stop funding Uncle Sam's retirement. Get a
plan that's simple and easy to understand, and right from
the beginning. The chapter one is organizing your assets, which
is what Chris and I are talking about. Number two
the color of money. We talk about red money, green money.
(32:55):
How much of your money is at risk? And have
you done a risk tolerance because there are new strategies
that you could use. When you sit down with Chris
and see what they are. The other thing is the
big one understanding social Security. And Chris, when I give
this book out with the Social Security Guide, I have
to tell you the eyes on the Social Security Guide
and the questions we get which we talked about today,
(33:15):
are unbelievable because social Security doesn't tell them what we
tell them. And the Maximization Report, and you know this
as well as I do. It is powerful. And people
sit back and they go like, why aren't they telling
me any of this? What am I supposed to do?
We pay into social Security and we don't get any
help on it. That doesn't make sense. That's just one
thing that's part of the complete plan. Right.
Speaker 2 (33:36):
It's not just about investments. Anybody can manage your money.
You can do it yourself. We can talk about investments.
We do investments. We can show you how to protect
your money. We have yellow money and green money and
red money. We can break that down for you. We
can show you the type of risk tolerance date that
you're taking right now, and where you should be at
your age and where you are in your retirement. So
that's the investment planning. But you made a great point
(33:58):
that people talking about socialeus and how does that correlate
with your investments because that's an income plan. So that's
why we call it the Maggie Plan. So, as you mentioned,
complete planning is so important and providing you with knowledgeable,
informative and comprehensive financial guidance is what we do. So
pick up the phone, schedule a time to meet with
us eight three to three, Maggie tax and you talk.
Speaker 3 (34:19):
About complete plan and incomplete plan. And every time we
ask the people out there at the seminar do you
have a complete plan or incomplete plan? They look at
us and they go, I guess we have an incomplete plan.
But there's also something that you have to start looking
at new ideas for investing, ensuring that you're a plan
and your future. One thing we talk about is bucket planning.
You want to talk about that in a minute. Why
(34:40):
is bucket planning so important? And everything we're talking about
with social security, with a state planning and taxes, and
then the other part that we put this whole thing together.
It's a puzzle. We all talk about that, the asset
map and how this makes sense to a client, Chris
when they come in and they sit down and go
Now from the top down, they see and they go, wow,
I didn't know what was like that. That's it.
Speaker 2 (35:00):
You know, when you come in to meet with us,
We're going to show you a complete plan. We're going
to show you what your investments are going to do.
We are going to show you if they're going to
be safe, they're going to be at risk, or they're
going to provide income in the future. We're going to
show you that. And that's why every plan is different.
What do you want? Safety of your money important to you?
Are you a risk taker? Do you want more income?
(35:22):
Do you want guaranteed paychecks? Do you want more play checks?
What's a play check or playcheck is an additional income
stream that you can get every month and will come
in for the rest of your life. So you can
count on it coming in and you can play with it.
You can spend it to the fullest extent. You know
what about inflation? It's here, it's there, it will be
(35:43):
there for a long time. You need to make sure
that you're combating against it. That's why many people, I
don't care how much you have come into our office
and the main concern is am I going to outlive
my money? I don't care if they have millions of dollars.
That's where most of the people have the same content.
Am I going to outlive my money?
Speaker 3 (36:02):
Do you know that? Answer? For sure?
Speaker 2 (36:03):
If you don't, we can help. So pick up the phone,
schedule time to meet with us. Watch our TV show
every Sunday on ABC TV at ten thirty am. My gosh,
there's so much information right there to help you. But
more importantly, schedule time to meet with us. Eight three
three Maggie tax and.
Speaker 3 (36:20):
When you're registered for the seminar, it's ninety minutes. It's free,
there's no cost, there's no obligation. We're gonna give you
a lot of information to help you leave there. And
one more thing, Chris, so we can talk about you know,
we talked about social Security, we talked about taxes, we
talked about the red money, green money, we talked about
bucket planning. But there's one very important part of the puzzle.
(36:41):
It's called the income gap. And many people don't even
know they have an income gap. Can you kind of
make it simple and easy to k to stand.
Speaker 2 (36:50):
Yeah, and you know, think about this. You're working and
just use even numbers, say you're making five thousand a month,
coming in every month because you're working, you have a
paycheck coming in. But what happens when you stop working?
That's where the Social Security comes in. You're gonna get
Social Security? Do you qualify? Are you gonna get spousal benefits?
Speaker 3 (37:05):
What is it?
Speaker 2 (37:05):
But what if you're gonna get two thousand a month
and your spouse is gonna get a thousand a month.
That's three thousand a month, So that means you're used
to five thousand coming in, now you're getting three. How
are you gonna fill that income gap that's that two
thousand dollars difference every month? Are you gonna have a
guaranteed paycheck that comes in to fill half of that
or all that? Do you need to rely on your
(37:25):
on your investments? Are they going up and they going down?
Or do you feel you're gonna outlive your money? So
how are you filling that income gap in retirement? Most
people don't know. But more importantly, taking another level, how
is it going to tax? Get taxed? So maybe you
need six thousand dollars instead of that five thousand because
you gotta pay a thousand dollars tax every year because
you have iras and form one case that are infected
(37:48):
with taxes. So guess what, You gotta pay taxes, So
how are you gonna do it? That's what we're talking about.
So when you come in to meet with us, we're
gonna put together the Maggie Plan. It's income planning, tax planning,
advanced tax planning, investment planning, a state planning. That's what
we do. We're going to provide you with knowledgeable, informative
and comprehensive financial guidance to help you eight three three
(38:09):
Maggie Tax Real Simple.
Speaker 3 (38:11):
Go to our website, Maggie Tax dot com right now
or after the show. Register for our seminars and also
go to the retirement tax Bill. Plug in your information.
Let's find out what you're going to pay in taxes,
and in thirty seconds, I promise you you'll get an
email to show you what your retirement tax bill is
going to be. Watch your TV show every Sunday at
ten thirty on ABC TV. Tendar seminar Maggie Tax dot Com.
(38:33):
Click on seminars and also click on the retirement tax Bill.
We appreciate you listening today. We hope you learned something
and we got educated and you're listening to the Maggie
Tax and Financial Show.
Speaker 1 (38:43):
You've been listening to The Maggie Tax and 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 Maggie Tax dot
com or call eight one three three two two twenty
five twenty. That's eight one three three two two twenty
(39:05):
five twenty and tune in next Saturday at five for
the Maggie Tax and Financial Hour
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