Episode 20250906 - Income Investment and Estate Planning

Episode Transcript

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
in tax savings, income planning, and investment opportunities, Robert and

(00:22):
Chris share advice and tax planning strategies designed to protect
your retirement nest egg from Uncle Sam. Your questions and
comments are welcome during today's program by calling eight one
three three two two twenty five twenty. That's eight one
three three two two twenty five twenty, or visit Maggie
Tax dot Com. That's Maggi tax dot com and now

(00:46):
your host for the Maggie Tax Financial Hour on nine
seventy WFLA Robert and Chris Maggie.

Speaker 2 (00:53):
Welcome to the Maggie taxin Financial Show, where your money
meets mastery. I'm Bobby Maggie, and every week we dive
deep into the dollars and cents behind your financial future.
Whether you're a business owner, a working professional, or just
trying to make sense of your taxes. This is your
front row seat to clarity, strategy and financial environment. So

(01:14):
from tax tips that save you thousands to financial insights
that build your legacy, We're not just talking numbers, We're
changing lives. So buckle up because today's episode is packed
with powerful tools, expert advice, and maybe even a few surprises.
So Chris, let's unlock your financial potential with these folks
right here, right now today.

Speaker 3 (01:35):
Well, let's say welcome everyone. I'm Chris Maggie and thank
you so much for tuning into the MAGI Tax and
Financial Show and glad to be here as always because
there's so much information that we want to share with you.
Visit our website at Maggie tax dot com. That's m
A G G I T a X dot com, Maggie
tax dot com and don't forget Every Sunday on ABCTV,
tune into our show right on TV ten thirty am

(01:56):
for the Magi Tax and Financial Show. So we do
tax planning, income planning, investment planning, and state planning, so
security maximization planning, we do. Complete planning is the bottom
line is all you really want to understand is that
you want to work with an advisor who looks at
everything you know. If you're getting income, you want to
make sure they get income on the most tax efficient way.
If you have investments, you want to make sure that

(02:17):
you're paying leads mountain taxes. So that's what we do.
Our telephone numbers eight three three magitax, pick up the phone,
schedule time to meet with us anytime.

Speaker 2 (02:25):
So a couple things right now, the power of purposeful
income planning. I think a lot of folks get confused
about income planning. So we're going to talk about why
income planning isn't just for retirees. It's for everyone listening
to today's show, whether you're young, or middle aged or retired,
you have to start thinking about income planning. How aligning
income with life goals creates financial clarity. Again, many people

(02:48):
don't think about, you know, longevity about you know, you're
in your forties. I'm older obviously, But if you start
young and you start putting a plan together, that's what
income planning is about. And I want to talk about
common myths that hold people back from planning effectively. I
don't have time, I'm not making enough money, you know,
because you talk about this all the time. And when
you were younger, and I know when I was younger,

(03:09):
I used to cut grass. I used to you know,
shovel snow, and I used to get twenty bucks or
twenty five dollars and my dad would say, you've got
to put and you've got to put something away. Take
five dollars, put it away, ten dollars, put it away,
and just put it away and forget about it like
you never got it. And I think the mistake that
people make is that they spend. They spend, they spend.
And now, as you and I know, I've been doing

(03:31):
this for over thirty years, how many people we see
that do not plan for retirement and are not ready
to retire where they think they got to work passed
a certain age because they just didn't plan. And I think, Chris,
for you, you're a young guy, and for young people
out there, you have to start somewhere.

Speaker 3 (03:46):
Well, I just said, so you know when you're discipline,
and I know, life happens, right, you have kids, you
have a job. People a lot of people are moving
jobs and they have old forum one k's which you
need to roll these old form on K's new IRA
and we can show you how to do that. So
if you have a a couple of different old form
of case, we can show you. But income planning is
start thinking about your own paychecks and play checks. That's

(04:07):
the biggest thing. And some of the myths that people
have is what you just said. You know, we have
to keep up with some of the expenses, and you
have to pay our mortgage and our card payment, and
life happens.

Speaker 2 (04:17):
I get it.

Speaker 3 (04:18):
But if you could just understand, if you're early enough
and you're young enough, put money away consistently. You know,
you try to live off of one person's income, but
if that doesn't happen, but then you need to live
off of both. But you still can try to find
to put money away in a bucket because it's you
need to create your own income plan in the future.
And if you're about to retire or you're retired, and

(04:38):
if you have these buckets that are just piles of money,
you need to turn it into an income stream. So
the power is so important with your future income and
you need to have a purpose to do it. And
while you're saving, put that money away. But when you
have the buckets let's create an income stream.

Speaker 2 (04:56):
And one thing that I would use, it's a habit,
and it's a habit you have to do. Like you
brush your teeth every day, you take a shower, that's
a habit. It's the same thing with saving, Chris, I
mean your daughter and your son. Give an example. My
granddaughter or your daughter, is seven years old and I
said to her yesterday, what do you do when you
get money? She says, I put it in my piggy bank.

(05:17):
I said, what does your brother do? Oh, he spends
it on baseball cards? I said, does he save? She
says no, not exactly. So there's a perfect example, and
this is coming from your kids. This is the truth.
Your daughter's a she's a thrill. I means I save it.
She said, it goes in my piggy bank. So what
what example does that set?

Speaker 3 (05:34):
You know? Well, that's just it the discipline. You know
she's seven, right, but that's just her mentality. She doesn't
want to want to spend it.

Speaker 2 (05:40):
She keeps it. But you got my son who wants
to spend on everything he's got. So what do you do?

Speaker 3 (05:46):
You have to have a discipline approach, right, And that's
why when you're early on, try to save as much
as you can. But when you're at the point you
need to create income buckets.

Speaker 2 (05:55):
Well, stay with that for a second, because people don't
know how much to save. That's a big question you
and I get all the time. And if you use
your age minus one hundred where you can start putting
money into safe investments or even part into a savings account,
and then as you get older and time goes on,
you can start bumping that up and then it becomes
a lot of money. That's right.

Speaker 3 (06:15):
You know, in time, time is great when you have
the value of time and the interest rates and a
compounding interest. We can show you how to create those
buckets and invest those buckets. So diversifying income streams and
building financial resilience is as important as putting money away.
You know, you want to explore active income sources and
also passive income sources. Do you have rental properties, do

(06:37):
you have interest dividends or your investments giving you the
income you want or is it from social security or
a pension. These are things that we have to talk about.
So when you come in to meet with us, we
can put together an income plan for you. You know
what about what about side hustles or you know, putting
money getting money from side investments. It could be maybe
your own contractor or a part time job. Well, these

(07:00):
are things that we're talking about, but there are real
life examples of diversified income strategies that work. People are
living off of their income streams. They are buckets of
money that are generating income. So if you have questions
and want to know how to do that for yourself,
pick up the phone, schedule time to meet with us.
Let's get together. Eight three three Maggie tax. Let's talk
about income. What about tax efficient income strategies?

Speaker 2 (07:23):
Well, good point. There the biggest problem I see you
know a question we get how to structure income to
minimize tax liability. It's pretty simple. The more money you make,
the more tax you're going to pay. But every year
I hear the same thing and they tell Chris and
I I'm paying too much in taxes, And the truth
is you're not paying enough in taxes. And right now
we all know that Trump tax cuts were extended, which

(07:45):
is a good thing. So when you come in and
meet with us, we can explain to you how it's
going to benefit you, not hurt you, and I think
that's going to be. It's a big question. It's a
big question on everybody's mind. So you know, once you
understand what you make and what you have to pay
in taxes and the deductions, might be surprised because you
might not pay as much tax.

Speaker 3 (08:02):
As you think you're going to. Well, let's just sit too,
and let's add on that. Because the people get income,
we meet with clients and we do reviews. They getting income,
but a lot of them in a most tax efficient way.
But then we see new clients come in and they're
getting income and paying a lot in tax and then
they're so scurity as getting taxes as much as eighty
five percent, they're not really sure how to way is
to reduce it. That's why tax efficient income strategies are

(08:25):
so important, and the role of your retirement accounts and
capital gains tax and tax brackets. You know, these are
things that you have to be aware of. And if
you're working with an advisor who's not even talking about
tax efficient income, then you need to do something about
it because you're going to be paying more in tax.
You're leaving money on the table that's going to Uncle Sam,
that should be going to you and your family. And

(08:47):
I was giving an example at a client that came
in last week. Perfect example, they would take it out
ten thousand dollars from their IRA account and the broker said,
go ahead and do that. Meanwhile, if they took the
ten thousand from the non IRA account, they pay no tax.

Speaker 2 (09:00):
The Social Security wine and got taxed.

Speaker 3 (09:02):
But now the broker advised them to take it from
a different distribution source and it caused more tax, and
the Social Security got tax on top of it. And
that's where it's so important to make sure you have
tax efficient strategies.

Speaker 2 (09:14):
And that's what we can help you with. Well, go
back to one thing. We talk about retirement accounts right now,
the biggest question people ask is the rmds and how
much they have to take out, you know, what capital
gains they have on their retirement accounts. These are all
questions that you have that you need to call us
right now. Income planning for retirement turn your assets into paychecks.
Turn your assets into paychecks. And the only reason why

(09:36):
I say that twice is because you probably don't know
how to do that, how to transition from earning to withdrawing.
You know, you work all your life you save, but
then you have to know how to withdraw that money
and like Christien, in the most tax efficient way. You know,
there are strategies for sustainable withdrawals. The rule was four
percent rule, you know, take four percent out, four percent out,
but that's changed. What we do is we do bucket planning.

(09:58):
And bucket planning is a a lot easier to understand
than just withdrawing and deleting that account. So social security,
we talk about pensions and annuities, what to know how
to plan These are questions that you should have and
you should be able to come in and talk to
us eight three to three Maggi Tech sit down and
do income planning with us, and some investment planning and
again retirement planning. That's what we're talking about today. So

(10:21):
you have, you know, a purposeful reason for income planning
and retirement planning.

Speaker 3 (10:25):
Absolutely, and that's a wrap on incomplaanning. But don't get
too comfortable because next time we're going to dive into
the world of investment plan that's we're going to lead
into next segment. You know, where your money doesn't just sit,
it works and it works hard. So we'll break down
smart strategies on cover hidden opportunities and show you how
to build a portfolio that's built to last, whether you're
just starting out or ready to level up. So stay tuned,

(10:48):
stay sharp, and get ready because the Maggie Tax Advisory
Show is right here and your future is on them.
Give us called eight three to three Maggie Tax.

Speaker 1 (10:57):
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
Maggi tax dot com. Or call eight one three three

(11:19):
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 in Financial Group, Robert and Chris Maggie.

Speaker 2 (11:35):
Welcome back to the Maggie Tax and Financial Show. Today
we're talking about investment planning, but not just in terms
of charts and returns. We're talking about investing in your future,
in your family and your freedom, and that's what you
all should be thinking about. I'll never forget. One client,
a single mom working two jobs, just trying to make
ends meet, and she didn't think investing was for her.

(11:57):
But we started small, like I said before, with a
plan built around her goals. Five years later, she had
enough saved to buy her first home and start a
college fund for her daughter. And she cried. She cried
in my office when we told her, well, she told
me actually not because of the money, but because she
finally felt secure and she finally felt hope. And that's

(12:20):
what all of you might be feeling right now. But
it can be done. That's what investment planning is really about.
It's not just about wealth, it's about possibility. And today
we're going to explore how you can take control of
your financial future, one smart decision at a time. And Chris,
I think what the problem is that most people feel
they got to do it all at once and they

(12:40):
don't realize that. Think about it. We all grew up
as a baby. Okay, we didn't just jump into college.
You know, we didn't run. We crawled and then we
walked and then we ran and then life goes on.
It's the same thing with you know, investing for your
retirement free life. Isn't that correct? Absolutely?

Speaker 3 (12:58):
And that's why you have to define on your purpose
before you start with different products. And investment planning is
key and my dad said it well, it's about possibility,
and investment planning starts with the question or the word why.
Why are you saving for retirement? Why are you saving
for child's education? Why are you saving for financial independence?

(13:20):
These are the things that we need to understand what
your goals are.

Speaker 2 (13:23):
Right.

Speaker 3 (13:23):
Knowing your goals help determine your risk tolerance, your time arizon,
as well as the right mix of assets to choose from.
So at our firm, we do complete planning and as
a registered investment advisory firm, we have a plethora of
strategies and investments that we can help you. Whether it's safety,
whether it's for growth, whether it's for inflation, whether it's
for a lot of dividend producing, whatever it is, we

(13:46):
can help you. We just need to understand what you're
looking for.

Speaker 2 (13:48):
You know, it reminds me when I was younger, and
many people out there might remember what I'm going to
talk about, but I used to save for a Christmas
club because I'd save, you know, five dollars a week
or ten, you could do twenty and probably many of
you shaking your head. But at the end, by October November,
I used to get a check from the bank for
five hundred dollars or one thousand dollars to buy Christmas presents.

(14:10):
And that's how I learned how to shop. But I
also learned how to save. But here's the thing, you know,
what is your risk level when you do that? How
do you invest money to make money not to lose money?
Because many people just think, you know, it's the best stock,
it's the best bond. That's not the case. It's investment
planning and risk tolerance. Chris and you talk about risk
all the time, and this is for everybody young and old.

(14:32):
You can take some risk when you're young, you can
take less risk when you're older. And that's the thing.

Speaker 3 (14:37):
You want to meet with an advisor who can determine
your risk and if you don't know, then we can help.
So pick up the phone, schedule time to meet with us.
Let's talk about your investment plan. Whether you're working, you
put money away, whether you're retired, and you just really
just have piles of money, there's really no idea and
purpose of what to do well. We can help with
you with that because we can look at your accounts,

(14:58):
We can manage your accounts. We can a type of
risk you're taking with your accounts. Do you need income
from them? We just want to let it grow so
we can diversify your portfolio. And diversification isn't just a buzzword.
It's protection.

Speaker 2 (15:10):
You know.

Speaker 3 (15:10):
Spreading investments across asset classes like stocks, bonds, ETFs, real
estate helps reduce risk. I mean there's different types of
CDs or straight fixed nuities or index innuities, but a
well diversified portfolio can weather market volatility and keep your
long term goals on track. And Dad, we talk about
this the rule of one hundred. How much money should
you have them we call green money? How much should

(15:31):
you have in what they call red money and yellow money.
So we can show this to you when you come
in and meet with us, because you have to understand
number one, what you have and then two that answer
the question why why are you investing in? What we
can do and we can show you to put together
an investment plan.

Speaker 2 (15:46):
Exactly, and that's why we call it the Maggie Plan.
It's a simple and easy plan to understand. It's a
tax plan, it's an income plan, it's an investment plan,
it's a legacy plan. How many of you out there
don't have some of those plans. So the question would
ask you is what is your plan? And if you
don't have a plan, then you know what it's time
to get on the phone right now, give us a

(16:07):
call eight three to three, Maggie tax and let's set
a time and sit down, because the easiest thing to do,
Christopher most people out there is to sit down and
talk about it. Let's bring up what's the thing that
keeps you up at night? What do you want to
fix that you really think that can help you moving
forward without fear. And it's not about just investing in

(16:28):
the stock or the bond. You know, you know what
the market does. Everybody knows that it goes up, it
goes down, but over time is what you're looking for
to make this plan work. So there's a lot of
things that Chris talked about before, different strategies and there's
many concepts that we want to educate you on. So
give us a call eight three to three, Maggie tax
I have operated standing by right now. We have offices

(16:49):
in Tampa. We have an office in Palm Harbor, we
have an office in Saint Pete. So there's no reason
why you can't meet with us. We could do it
on the phone, we could do it on a zoom call.
But look, it's up to you. You've got to take
the time to make this plan work for you. And
like I said before, if you do not have an
income plan, or a tax plan or an investment plan,
I just gave you the reason why you should give

(17:10):
us a call. Eight three to three. Maggie Tex.

Speaker 3 (17:12):
Absolutely so, time is your greatest ally. You know, start early,
stay consistent, and even if you're fifty and you don't
have a retirement plan and you think that you don't,
maybe you do. You know, you can't start over, but
you can start right now and compound growth rewards patients.
You know, even small regular amounts can grow significantly over time.
The earlier to start, the more flexibility and freedom that

(17:33):
you can gain later in life. So when we talk
about diversification, we talk about a purpose, we're talking about time.
These are things that factor in on how you should invest.
And many people want to hit it big, real quick,
but the people who are patient and the people who
consistently put money in and they allocate money efficiently are
the ones with the great discipline moving forward. So pick

(17:55):
up the phone, schedule a time to meet with us.
As my dad mentioned before, we have offices on both
the Bay to help you. Eight three to three Maggie Tax.
Visit our website at Maggie Tax dot com. There's so
much information right there at your fingertips. You know, there's
educational workshops that we do. As we talked about, come
meet with us. Let's have a conversation. Let's sit down,
go over your tax strategies, your investment strategies, your your

(18:18):
tax plan if you have one, if you don't, what
about your income plan. Many people have no estate planning,
so we can help you. You know, if you just
heard now that investment planning can turn uncertainty into opportunity
and dreams into reality. We can do that. But here's
the truth. The longer you wait, the harder it gets.
The best time to start was yesterday, but the next

(18:38):
best time is right now. Whether you're building wealth, securing
your family future, or chasing financial freedom, it starts with
a conversation. Pick up the phone, schedule time to meet
with us, So just don't think about it, act call now,
book your appointment and meet with us. Let's build a
plan that works for you because your future isn't waiting
and you just should you eight three to three Maggi Tax.

Speaker 2 (18:58):
That's eight three to three tax.

Speaker 1 (19:02):
Stop planning for Uncle Sam's retirement and start planning for
your retirement. As we return to the Maggie Tax and
Financial Hour with your host, father and son Robert and
Chris Maggie. For additional information on how you can create
a tax free retirement, visit Maggie tax dot com. That's
Maggi tax dot com. Or call eight one three three

(19:25):
two two twenty five twenty. That's eight one three three
two two twenty five twenty. Now your host for the
Maggie Tax and Financial Hour, father and son from Maggie
Tax Advisory and Financial Group, Robert and Chris Maggie.

Speaker 3 (19:40):
Welcome back to the Maggie Tax and Financial Show where
your Money meets meaning. We just talked about how to
grow your wealth through smart investment planning, but now we
turn to something even more important, protecting that wealth for
people you love. Because true financial success isn't just about
what you build, it's about what you leave behind. A
stay ple is the bridge between your hard work and

(20:02):
your legacy, and without it, your assets could end up
tangled in probate, delayed, and drained far from your future
that you envision for your family. And you don't want that.
So today you want to start out and show you
and make sure that your home, your accounts, your business,
everything you work so hard for passes smoothly, privately and
powerfully to the next generation. Because that's what you deserve.

(20:24):
It's not about just having millions of dollars and only
the wealthy can do that. Everybody can do that if
you just do the right planning. So let's talk about
trusts and wills and benefit ciarity designations and the tools
that turn planning into peace of mind. So this is
more than just paperwork. It's your legacy, and you know,
let's protect it together. And Dad, how many times do
we see people come in they got no planned they

(20:47):
got piles of money, they come in all happy, Hey,
this is what I say. You look at my accounts,
and but again it's pretty much there's nothing under it
to protect.

Speaker 2 (20:56):
It well, because no one took the time to educate
them and think about it. You go to school to learn,
and then you have to take a topic or a
subject and you get a test on it. And I
don't think anyone's ever, you know, tested anybody on investment
planning or what we're talking about, you know, a state planning.
So let's kind of recap some of the things on
the investment plan that we talked about. Think about it.

(21:16):
You've built the wealth, now let's protect it. But the
other thing, like Chris, is mentioning what do you do
with it? So a state planning, it's not just about money,
it's about meaning, what are you going to do with it?
How do you want it to pass your beneficiaries? I
have a trust. Okay, anything happens to me, my wife
gets it. Anything happens to my wife and I my
two boys get it, and anything happens to them. Guess

(21:37):
where it passes down to the grandkids. So when you
think about that, is that the kind of plan you
have or you don't even know yet? So you know,
it's basically an emotional hook. What happens to your assets
when you're gone? And Chris, this is where I think
people get I would say sidetracked, but when they meet
with an advisor, it's all about selling them something. Think
about it. They come in with their statement, they give

(21:58):
it to you know, a custodian, and they invested. But
what happens after that? What do they do with it?
Do they keep it, do they lose it? And then
when they need money to then the big question when
you ask everybody, this is always a funny question, how
much do you need every month coming in the front door.
When you ask that question, people go, I don't know.

(22:19):
And that just bewilders me all the time, because no
one that's a perfect point, Chris. No one talks about it.
That's just it.

Speaker 3 (22:26):
And you know, I was listening to you and you
made a great question to the listener here and to
me as well listening what happens when your assets to
your assets when you're gone.

Speaker 2 (22:36):
Think about that. Let that digest for a minute. Do
you know?

Speaker 3 (22:40):
And if you know totally in confirmation, is one hundred
percent that you know where it's gonna go, then that's
a great thing. But I bet you that most listeners
today have a doubt, they have questions in mind, they
don't know really where it's gonna go. I'm talking about
your bank accounts, I'm talking about your form case. I'm
talking about your IRA, your roth IRA, your brokege account.
Think about those accounts. What about the savings accounts that

(23:00):
you have? What about your house? So what do you do?
Why is a state planning so essential because you want
to avoid probate? What's probate? Probates the court system, that's
who's going to make decisions on your state and doesn't
have to be that way. There's delays, there's cost, there's
public exposure. My gosh, we have a piece in our
office on celebrities who went through probate. Oh my goodness,

(23:21):
when you sit there and look at what they went through,
millions and millions of dollars wasted and now we know
all about their estate. We don't have to same thing
for you. You know, we want to ensure that assets
pass to your loved ones smoothly, not through havoc and
fights and time and delays. You know, we want to
prevent family disputes and confusion. My gosh, dad, how many

(23:44):
stories can we talk about with this?

Speaker 2 (23:46):
Well, too many to be honest with you, and they're scary,
and their honest stories and they're real. And let me
also throw this out at you everyone listening today. We
do want a state planning seminar. We do four a
month because go to my website Maggie tax dot com
click on seminars. You'll see the dates. We hold them
at libraries and we hold them either at eleven o'clock
or two o'clock in the afternoon. I don't buy dinners

(24:08):
because it's just not going to help me help you.
I want you to come for the education everything. Just
Chris just mentioned here, it's amazing how many people are
sitting there saying, Gee, I wish I would have done that.
G I wish I would have done that. Folks. It's
very easy, it's very cheap, and it's going to save
you thousands of dollars. So just go to my website
Maggietax dot com, click on seminars. You'll see all the
dates there every month. There's four times a month right now,

(24:31):
and we're probably going to do more because it's so important.
When Chris and I are talking about and what we
see every day, it's really sad that you don't know
about something simple enough to get a will or a
trust you know, or which one is better, even like
if you have a home, I'll mention this a quick
claim deed or a lady bird deed? Why am I
mentioning that to avoid one thing? Chris? It's called probate.

(24:52):
How many clients do we see every day that have
you mentioned it before? Millions of dollars in their IRA
four oh one k and they don't have any of
these docks. And you know how we find out when
the children come in and they say, you know, guys,
I can't get my money from my parents. It's going
through probate. Yeah, you think that's the reason. Why, So
do you want that to happen to you? And it's
the cheapest thing you could.

Speaker 3 (25:13):
Do, absolutely, And you know when we hear those stories,
we just cringe. And then we started looking into where
they came from. And then you come to find out
that mom and dad had their advisor for twenty twenty
five years and then you say they didn't talk to
them about this. Wow, they manage their money really great.
But guess what now you got probate cost and time

(25:34):
and money. How do you go about doing that? And
that's why if you have an advisor now and that's
not talking about total state planning and income planning and
tax planning, then I really raised the question that you
should come in and meet with us, because let's have
a conversation. If you're looking for a complete plan, we
can help eight three to three Maggie Tax. That's eight
three to three Maggie Tax.

Speaker 2 (25:53):
Well, let me hurt you a little bit more. Okay,
this is really important. How many of you have done
a beneficiary change or a bit have you checked your beneficiaries?
Because what Chris just mentioned, when some people pass and
then we look at the beneficiary, guess what, it's not
what you thought it was because you did this ten, fifteen,
twenty years ago. So I challenge all of you give
us a call, sit down with us. Eight three to

(26:14):
three Maggie tacks. Let's review your documents to see if
they're correct. Because again, here's another question. How many of
you have or have not a power of attorney on
healthcare directors? What happens if something happens to you and
you need a healthcare decision to be made, who's going
to make it? Okay, this is what we see every day,
and this is why we do this show because there's

(26:35):
so many things that you could do to make it better.
You just got to sit down, have a conversation go
over and I said this before, what keeps you up
at night? So what if what keeps you up at
night someone passed away and they're going through probate. Doesn't
that bother you? I think it should and I know
it bothers me when I see it all the time,
and Chris and I see it all the time. Is

(26:55):
not that I can do about it unless you want
to do something about it. Three tax And Chris, this
is so important when you talk about the things we're
talking about today, investment strategies, income planning, and now is
state planning. These are common things that you all should
be thinking of. So get the right time do it.
Eight three three Maggie Tax.

Speaker 3 (27:15):
Me, I say, just get the Maggie planned. Visit our
website at Maggie tax dot com. That's M A G
G I T A X dot com. All their informations
right there. But I'll give a quick example. I never
forget this story. I've been this business over twenty years,
and I'll tell you the second year I was in
this business, I came across a client who had twenty
thousand dollars to her name, but her brother passed away

(27:37):
who lived in California and he had two million dollars.
So we met with our client and we took care
of her because it's not about how much money you have,
it's about the whole process. So she came on in
and she told us, you know, her brother passed away,
and we felt terrible for her. And we found that
information that he had two CDs with the same bank.
One million dollars was with one CD and the other

(27:58):
million dollars which is with the other. But guess what,
the one CD had proper beneficiary designation where the other
one did not. So the million dollars went to her
and avoided probate because it was the right transfer, very
quickly and efficiently. But the other million it took eighteen months.
Eighteen months through probate. You had attorney costs, you had fees,

(28:18):
everyone knew about his public record and everything. And guess
what you call could have been avoided. So the same
bank when we'll, had this all mess up because they
didn't do the proper planning. So pick up the phone,
schedule appointment today. Don't let this happen to you. Eight
three three Maggie tax. That's eight three to three Magi tax.

Speaker 2 (28:38):
Let me make it simple. Your legacy starts now, and
think about it. You've worked hard, You've saved, you invested
and built a life worth protecting. But without a plan,
everything that you've built could be left to chance. That's
not a good plan. A state Planning isn't just about
avoiding probate. It's about making sure that your family doesn't
have to fight through red tape while grieving. That's the

(29:01):
worst time. It's about clarity, compassion, and control. So ask
yourself if something happened tomorrow, would your loved ones know
what to do? Would your wife know what to do?
Would your children know what to do? Would your assets
go to where you intended? Would your legacy be protected?
And that's important? Okay, if you're not sure, it's time

(29:22):
to act eight three three Maggie TACs call us today.
Let's build a plan that honors your life. He protects
your family and gives you peace of mind. Because your
legacy deserves more than hope. It deserves a strategy. And Chris,
so many times when we meet with people, we get
through an appointment, it's always like what do you have?
It's not what we have, it's what would you like

(29:44):
to do? What is your plan and why are you
here to see Chris and I today? And I think
all of you out there have to start asking that question.
If you're going to meet with the advisor, how can
they help you? What are they going to help you
with just an investment? Folks, that's not good. And that's
why we're successful at what we do on the Maggie
Plan because we talk about taxes, we talk about investments,

(30:06):
we talk about social security pensions, we talk about wills,
trust and everything else that goes along with it. And
you know what, if your advisor is not doing that,
shame on them. And one thing Chris mentioned before, so
what if you had an advisor for twenty years now
go back and ask them why they didn't finish the job.

Speaker 3 (30:22):
But that's it, and that's why it's so important. And
your future begins with one phone call. Pick up the phone,
schedule time to meet with us. Let's have a conversation.
We have office on both sides of the bay. But
when we do complete planning such as income planning and
your investment playing and planning and how it incorporates with
your taxes and how much you're going to pay at
tax and your legacy plan you could see how this
all fits together, and that's why we call it the

(30:43):
Maggie Plan. And that's why we call it the Maggie Plan.
Putting your puzzle pieces together, we can definitely do it
for you. It starts with a phone call eight three
to three Maggie Tax. That's eight three to three Maggie Tax.
And don't forget Tune in every Sunday on ABC TV
at ten thirty for the Maggie Tax and Financial Show.
Eight three three Maggie Tax. That's eight three to three

(31:03):
Daggie Tax.

Speaker 1 (31:07):
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

(31:28):
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 (31:45):
Welcome back to the Maggie Tax and Financial Show. My
name is Robert Maggie and I'm here with my son,
Chris Maggie. So we've been talking about an awful lot
today and if you have questions or concerns, now is
the time to pick up the phone eight three three
Maggie Tax, and don't forget. Every ten thirty on ABC TV,
tune into the Magi Tax and Financial Show. We talk

(32:05):
about a lot of things that might help you out.
So give us a call eight three to three Maggie Tax.
And think about it. You built the life, protected your legacy,
and made sure your love the ones won't be burdened
by probate. We talked about that before. But here's the question.
We really ask who's helping you connect all the dots?
Because the state planning is just one piece of the puzzle,

(32:27):
and if the rest of your financial life isn't aligned,
even the best plan can fall short. And here's the problem.
The problem too often is that people work with a
tax preparer in one corner, an investment advisor in another,
and maybe in a state attorney somewhere down the line,
but no one's talking to each other. And that's how
things get messed up. That's how things get missed. Beneficiaries

(32:49):
don't match tax strategies, conflict with income plans, and opportunities
slip through the cracks. And that's the probably the biggest
mistake and the most common mistake most people make. So, Chris,
what's the solution to all this? How simple can it be?

Speaker 3 (33:03):
Well, that's so important, and that's why you need a
complete advisor, someone who sees the full picture your taxes,
your investments, your retirement income, and your a state plan
and brings it all together. And a complete advisor doesn't
just react to problems, they anticipate them. They build strategies
that work in harmony, not isolation. And that's what we
do here. We call it the Maggie Plan, and that's

(33:25):
why we want you to visit our website, Maggie tax
dot com, because we can put it all together. If
you ever felt like your financial life is a stack
of disconnected folders, do you ever think about that? Well,
it's time to change that. And that's why you can
just pick up the phone. It starts with you. Pick
up the phone, schedule time to meet with us. Let's
sit down and build a plan that's not just smart,
it's complete because your future doesn't deserve to have fragments.

(33:50):
It deserves a team that sees the whole view and mind.
And that's why we talk about complete planning. There's transactional
advisors out there, but then there's complete planners. And that's
why we set up our company this way because we
understand the tax side of things, the investment side, the
income planning, the estate planning, you know what about social
security and medicare planning. We can help with all this.

(34:10):
So we have the people in place in house, so
you don't have to go each and everywhere. And that's
why all you got to do is schedule appointment to
meet with us. A three three Maggie Tacks.

Speaker 2 (34:21):
You know, as you're talking about that thing came to
my mind. I mean, you know how silly I could get.
But what I'm gonna do is make a puzzle. And
it's like a small puzzle, maybe an eight and a
half by eleven, And when clients come in, we're going
to give them the puzzle and see if they could
put it together. Maybe that might work.

Speaker 3 (34:37):
It's hard enough with them as it is, because many
people see all honesty. You've made a joke about it,
but you know, people come in and they're confused and
they want help, right and they've been saying, I've been
wanting this for years, and I've listened to your show
for a long time, and you know, it hit me
a lot of times, and I want to do this.
And I asked them why haven't they done it? And
they said, well, time, you know, I just haven't gotten

(34:58):
to it, or you know, I've been looking but haven't found.
This is a lot of different reasons, but now is
a time. The time is now. You can't start over
if you can start right now. And that's why we
call it the Maggie Plan. It's simple and easy to understand,
and it's even easy if we put the puzzle together
for you.

Speaker 2 (35:13):
So eight three three Maggie tax. This is on you, folks,
It's on you. All you got to do is pick
up the phone, call, spend some time, make an hour
and appointment with us. Let's go over the problems that
you have. And like I said before, what keeps you
up at night? Is it a state planning? Is do
you have it in order? Do you have a will
or trust? Is it correct? Do you have a beneficiary form?

(35:34):
Is it correct? Is it updated? We talk about the
risk of you know, maybe sometimes I think people get
the wrong advice, Chris, and I understand that, you know,
they go to one advisor and they get another one.
But you know, many people work with separate professionals, maybe
a CPA, a financial advisor, and an a state planning attorney,
and if they're not communicating, which I mentioned before, critical

(35:54):
details get missed. And Chris, we've talked about this where
we have a tax client done the tax return and
it was done incorrectly, and then they go to a
CPA and the CPA gives some different advice. Wow, how
I mean it's confusing.

Speaker 3 (36:08):
So you're talking about like fragmented advice, all right? Is
that we're talking about the risk of that. And many
people work with separate professionals, as you just mentioned, they're
not communicating together. For you, critical details get missed, leading
into tax inefficiencies, probate surprises, even lost opportunities, poor tax decisions,
outdated beneficiary designation. So what is a complete advisor? What

(36:29):
do they do?

Speaker 2 (36:30):
They do complete planning. They do everything from tax planning,
from income planning, from an investment planning, from a state
planning to wills and trust even to kids, for the
for the you know, for college. That's sorry.

Speaker 3 (36:42):
They build strategies that work together. That's not in isolation exactly.
And if you don't have a strategy, you're not going
to win. Here's another thing.

Speaker 2 (36:49):
If you don't have a plan, or if you're going
to be traveling and you don't have a roadmap where
you going to go, it doesn't make sense exactly.

Speaker 3 (36:55):
And it leads us to an example that I'm talking
about here. We had a client that had a great
investment plan when they first met with us, but guess what,
there was no estate strategy. Their assets were tied up
in probate for over a year. And we went through
this with the client and we said, oh my gosh,
I wish we would have got to you sooner to
help you avoid all this. So don't settle for fragmented advice.
Call us today a three to three mag attacks meet

(37:16):
with a complete advisor who sees the whole picture.

Speaker 2 (37:20):
I mean, it's simple to talk about, but it's a
confusing issue for everybody. And if you've ever felt like
your financial life is scattered across spreadsheets, statements and separate advisors,
and we have clients come in with statements, they've never
opened over there. So think about this. You spent your
life working hard, saving wisely, and planning carefully. But without

(37:40):
someone who sees the full picture your taxes, your investments,
your income, and your legacy, your plan could be missing
the most important piece. A complete advisor doesn't just help
you grow your wealth. They help you protect it, preserve it,
and pass it on with purpose. You have to have
a purpose with what you're doing. This isn't about having

(38:01):
more meetings, it's about having the right one. If you've
ever felt like your financial life is scattered across spreadsheets, statements,
and separate advisors, it's time to bring it all together.
Call us today. Sit down with a team that understands
every layer of your financial future. Because peace of mind
doesn't come from hoping it all works out. That is

(38:22):
not a plan. It comes from knowing it will. That's
the Maggie Plan, simple and easy to understand. Tax plan,
income planning, state planning, all types of planning. And let's
complete your plan. And it starts with one powerful conversation
eight three to three Maggie Tax.

Speaker 1 (38:42):
You've been listening to the Maggie Tax on Financial Hour
discussing tax planning investment strategy is presented by Robert and
Chris Maggie from Maggie Tax Advisory and Financial Services with
offices in Hillsboro and Panela's County. Visit Maggie Tax dot
Com or called eight one three three two two twenty
five twenty. That's eight one three three two two twenty

(39:04):
five twenty and tune in next Saturday at five for
the Maggie Tax and Financial Hour