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 is living it up when you retire by taxing
your hard earned money. Welcome to the Maggie Tax and
Financial Show with Robert and Chris Maggie of Maggie Tax
and Wealth Advisors. With over four decades 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 next day from Uncle Sam. Call them at
eight three three Maggie Tax or online at Maggie Tax
dot com. And now your host for the Maggie Tax
and Financial Show, Robert and Chris Maggie.
Speaker 2 (00:41):
Hello everyone, and welcome to the Maggie Tax and Wealth
Advisor Show. My name is Robert Maggie and we're grateful
that you're spending part of your day with us. And
whether you're driving, relaxing at home, or listening on the go,
this is your place for clarity, confidence, and real guidance
on building a stronger financial future. Each week we walk
you through the four pillars that shape a success. Us
full retirement and today is no different. And I'd like
(01:02):
to introduce my son, Chris Maggie, and we have a
lot to talk about.
Speaker 3 (01:05):
Absolutely, so welcome everyone. I am Chris Maggie and thank
you so much for tuning into the show. As my
dad mentioned before, you know, we're trying to provide clarity
and confidence to you because this is your step right
now to do something to protect yourself, to make sure
that you have a plan in retirement. So visit our
website at Maggie Tax dot com, pick up the phone,
schedule time to meet with us. Write this number down
(01:25):
eight three three Maggie Tax. That's m A G G
I T a X dot com. So first throughout today's show,
we're going to dive into investment planning because your future
deserves a plan, not a guess, you know. Then we're
going to explore tax planning with your investments. We want
to help you keep more of what you earn so
your money works smarter, not harder. We'll also talking about
(01:46):
protecting your assets in retirement. We want to ensure that
the nest egg that you've built stays safe through market
swings and also life unexpected moments. And finally, I'm going
to wrap up with a check up on your current investments.
Who wants a check up? Well, every year, every month,
you need to make sure that you're looking at something
because a simple but powerful way to make sure your
(02:08):
financial strategy is truly aligned with your goals. And this
is so important because goals change, life changes, life happens,
but making sure your goals are on track. So here
at Magatax and Wealth Advisors, our mission is very simple,
is to help you plan, protect and prosper. And if
you ever find yourself thinking I'd love to take someone
(02:29):
or really have someone look at my situation, well we'll
be honored to meet with you. That's why we do
what we do. We do complete planning, tax planning, investment planning,
insurance planning, income planning. We want to empower you with
knowledge and invite you into a conversation that can change
your financial future because this is your money. Making sure
(02:49):
that you put together a plan is so important. So
settle in, stay with us, and let's let's get started here.
Speaker 2 (02:56):
Yeah, So let me ask you all a questions. Let
me ask you something. When you think of your financial future,
are you driving the car or are you just hoping
the road takes you somewhere good because in today's world,
hope is not a strategy, and the right investment plan
can change the entire trajectory of your life, and the
wrong one it can cost you years, over time and comfort.
(03:18):
So choosing your where to put your money today isn't
just important, it's mission critical, market shift and economics change,
and the people who win are the ones who plan
with a purpose. And that's what we call the Maggie Plan,
simple and easy to understand. Maggie Tax and Wealth Advisors
believes every single dollar should have a job, a mission,
(03:39):
and a path toward growth. So if your investments are scattered,
they're outdated, or writing the ups and downs of the
market without a strategy behind them, then today's segment is
going to open up your eyes because this isn't just
about investing, It's about building the future that you want
with intention, clarity and confidence. So so buckle up. This
is where financial transformation begins.
Speaker 3 (04:02):
So let's talk about this. You mentioned where it's scattered.
It's a big word outdated. How many people do we see?
How often is people's accounts just scattered everywhere? I know
I can talk about when people come in and meet
with us. They have piles of money, They have paper everywhere.
They have a statement here, a statement there. They go, oh,
I forgot about this one, and I didn't bring that
one in. I think I have a couple at home,
(04:22):
you know, I think that one is with the other company,
but I'm not sure. So these are everything scattered unknown.
I mean, what do we do to put that together?
For people to help.
Speaker 2 (04:30):
Them, well, they have to be willing to meet with
someone like Maggie tax and wealth advisors and sit down
and have a conversation. And I spoke to someone today
and they said to us, you know, why doesn't advisors
sit down and talk about what you guys talk about
complete planning, like your son says all this stuff. It's
because they're just settled on one product and one you
know thing only. So your money must have a mission.
(04:52):
I said that before, and this is one of the
biggest concerns. Every dollar that you have should be working
toward a specific goal, whether it be growth both, whether
it be income protection, not drifting in the market without purpose.
And that's one of the things. It has to have
a purpose. I don't know if anyone speaks to you
about purpose but we talk about growth, and the biggest
thing Chris and I always ask us about income.
Speaker 3 (05:14):
And that's a great point. Income with your investments, they
go together because what many people don't realize is that
your investments could cause you to have less income or
more income. I mean if you're depending on your investments
to go ahead and perform and not perform, and then
you could have less income. So having investments with a
purpose is so crucial. So pick up the phone and
(05:35):
schedule time to meet with us. Because if you have
questions about your investments and are they going to generate
the right income you live enough of dividends? Are you
dipping into the principle, then pick up the phone, schedule
time to meet with us. Eight three three Magie tax.
Speaker 2 (05:48):
So a plan outperforms guests work every time. What does
that mean? Because if you have a plan, like an
income plan, a tax plan, an investment plan, then you
don't have to worry about guessing any time. I mean
that's the problem. I think a lot of people have.
They think they have a plan, and they don't. And
those who invest with intention consistently outperform those who react
(06:09):
to headlines, emotions or market noise. So think about this.
When you have a plan and you know it's going
to be giving you a certain amount of income every
single month or every single year, no matter what the
market does, it's not going to affect it. And that's
what we talk about, Chris, when we talk about the
Maggie Plan. When you have buckets, and you can talk
about this in a second, most people don't know what
(06:31):
buckets mean. When you talk about investment planning. You have
to have a bucket for now, a bucket for later,
and a bucket for maybe after you retire or when
you die. And this is what I see, and I
think we both see that they don't have a plan
to basically take care of the first thing, income, the
second thing, growth, and then later when you pass away.
Speaker 4 (06:53):
Is that right? Yeah?
Speaker 3 (06:54):
And when people come in to meet with us, you
put the other a balance sheet. We talked about this prior,
is that if you have statements and piles of money,
we're going to organize that for you. You're gonna have organization.
You're going to know what's taxable, what's non taxable, and
then from there. That's why we put together a plan,
because you mentioned a plan outperforms guesswork. Every time when
we put our plans together. We have now money, which
we generate income. We have later money, which is later
(07:16):
money where maybe five to ten years we'll touch that bucket,
and then we have never money that could be eleven
plus years that maybe you don't even touch it because
you're never going to touch it.
Speaker 2 (07:25):
Possibly.
Speaker 3 (07:26):
But so if you invest your now money like you
will your later money, then you pretty much don't have
an investment plan. And many people don't realize that in retirement,
income is so crucial because I just met with someone
last week and they're talking about income and she's draining.
She has a twelve percent distribution rate. She's spending a
lot of money, and we talked about it and I said,
(07:47):
there's no investment out there generating a twelve percent guaranteed return.
And she said, well, that's fine. I just want to
spend my money because I don't want to leave it
to my kids. And I said, Okay, that's her, that's
her situation. She has a plan, right because she knows
that she's going to spend the money and she's gonna
live off of what she has. So a plan outperforms guesswork.
If you don't have one get one eight three three,
(08:07):
Maggie Tax. Let's talk about market change, Dad, and how
your strategy must do the same.
Speaker 4 (08:12):
Well, we talk.
Speaker 2 (08:12):
About like red money green money to every client. Why
because when a client comes in and we look at
their portfolio and we see what kind of risk they're taking,
which is very important to all of you. If you're
taking too much risk, then that may not be the
right choice for you. If you lower the risk but
still have growth in everything with it, then you're going
to be okay. But you can't risk all your portfolio
(08:32):
one hundred percent in red money or in the market because,
as you all know, guess what happens, the market changes.
Speaker 4 (08:38):
So if you don't.
Speaker 2 (08:39):
Understand how to separate your money from red money green
money and actively manage it where someone watches it for you,
then you need to do that and the other thing, Chris,
just to make this even easier, if people use a
budget sheet, which we see so many people don't, can
you basically separate the money for them and show them
what they're doing.
Speaker 3 (08:57):
That's it. I mean when people come in and we're
going to look at your budget, your income, your investments,
put all together, even your taxes, which we haven't talked
about yet today, but you know, markets change and your
strategy must too. You know what worked five years ago
maybe hurting you today. So that's why a modern, actively
reviewed plan is the difference between momentum and stagnation. And
we talk about this all the time. So that's why
(09:19):
it's important to pick up the phone, schedule time to
meet with us eight three three Maggie Tax because we
can help you put together a plan that's what people want.
Speaker 2 (09:28):
And let me also say this, small adjustments can create
massive results later, so you don't have to dump everything
at the same time. But when you start realizing that
you can strategically make this happen for you because the
right allocation or even the tax efficient move today, trust me,
can add years of comfort, freedom, and financial confidence to
your retirement.
Speaker 4 (09:48):
I think this is what people fall short.
Speaker 2 (09:50):
They don't plan and they don't put a package together
like the Maggie plan that we talk about.
Speaker 3 (09:54):
That's exactly right. So if you're listening right now and
even one part of you is thinking, I'm not sure
wh my investments are a positioned the way they should be.
If you're feeling that way, then this is your wake
up call. The markets won't wait. You know your retirement
won't wait as well, and delaying the right plan could
cost you more than you realize. So at Magi Tax
Advisory and Wealth Advisors, we help families every single day
(10:18):
turn confusion into clarity and uncertainty into confidence. Because you
retire once, well, we retire each and every day. So
pick up the phone right now, call us right now.
Don't put this off. Don't hope things sort themselves out.
Let's build a real plan together that protects your future
and gives you the peace of mind that you deserve.
Call a three to three Maggie Tax. What's the biggest
(10:39):
secret to changing the way you think about building wealth? Well,
we'll share that right next on the Magi Tax and
Wealth Advisors.
Speaker 1 (10:44):
Show, stop funding Uncle Sam's retirement and start planning for
your own successful retirement. As we return to the Maggie
Tax Financial Show with your host Robert and Chris. Maggie
with Maggie Tax and Wealth Advisors. For information on how
you can create a tax free retirement, call eight three
(11:07):
three Maggie Tax or visit Maggie Tax dot com. Now
you're host with Maggie Tax and Wealth Advisors. Robert and
Chris Maggie.
Speaker 4 (11:16):
All right, let's shift gears.
Speaker 3 (11:17):
Welcome back to the Maggie Tax and Wealth Advisors Show.
And before the break, I asked, what is the biggest
secret to change in the way you think about building wealth? Well,
here's the truth. Taxes are the single biggest expense you'll
face in retirement. You know, It's bigger than healthcare, it's
bigger than travel, it's even bigger than market losses. And
yet most investors never take the time to align their
(11:38):
investments with the tax strategies that could save them tens
of hundreds of thousands of dollars sometimes even more over
their lifetime. So welcome back to the Maggie Tax and
Wealth Advisor Show. And I'm here with my dad and
cost of the show. And today we're talking about a
lot of things. But most advisors out there basically tell
their clients will go consult with a tax advisor. Meanwhile,
(12:00):
they're not even thinking about taxes, not doing the justice
for you. And that's why we think it's not the
right plan. So pick up the phone, schedule time to
meet with us. Because if you're looking for complete planning,
tax planning, investment planning, investment planning, social security planning, income planning,
and state planning. We can help eight three to three Maggie.
Speaker 2 (12:18):
Tax And this is where smart money separates itself from
average money because when you understand the tax code, when
you use it to your advantage, your investments suddenly grow faster,
they last longer, and create far more security for your family.
And I'm not asking you to be a tax advisor.
I'm not asking you to be, you know, a tax preparer.
(12:39):
I'm asking you to come in because we understand that
that's what we do every day. And I think that
if you have an explanation where you can understand it
and it makes clarity like Chris talks about before, it's
going to help you. So let's pull back the curtain
on the strategies the ulture smart investors use to legally
reduce their tax burden. And I always get this question.
(12:59):
Legally is the key word. But the bottom line is
are going to boost their income and stretch their retirement
dollars further than they ever thought possible. And just remember,
taxes change.
Speaker 4 (13:09):
All the time.
Speaker 2 (13:09):
It's not carved in stone, and you have to be
aware like we are about the changes to explain it
to you. So let's talk about how some people seem
to get ahead faster than some other people.
Speaker 3 (13:20):
Cross why because they use tax planning with their investments.
And let's talk about this because there's a couple of
different key pullet points that we want to stress today.
Number one is taxes are your biggest retirement threat. It's
not the market. And when you understand that, then you
start doing tax planning and you can start talking about
tax buckets and tax efficient strategies because without the right plan,
(13:42):
you could pay more in taxes over your lifetime than
you ever say for in retirement. Let's just talk about
iras for a minute. We do the retirement tax BOMP.
When people come in and they have an IRA, which
is an account that's before tax, it's infected with taxes.
We have to pay taxes when you take that distribution out.
So explain to listening today if they have the IRA,
(14:02):
that retirement tax bill report is so important.
Speaker 4 (14:05):
Exactly, and think about this.
Speaker 2 (14:07):
We're all taught to save in a four oh one
k an IRA, a TSP of four or three B
on a tax deferred basis. So think about this for
a second because this kind of drives me nuts every
time I think about it. We work for twenty thirty
years and we have a tax deferred. Every year we
get a tax deduction. Okay, so stop and think a second.
We get a tax deduction. What happens when you retire. Well,
(14:29):
with the retirement tax bill that we have on our
on our website Maggie tax dot com, it's going to
show you that when you start taking the money at.
Speaker 4 (14:36):
Seventy three what you have to take out.
Speaker 2 (14:38):
But guess what when you take that money out, it
goes back on your tax return. Chris is income and
at what bracket and what level? So basically my question
is is the tax deduction you took over those years worth,
what's going to happen to you now?
Speaker 4 (14:54):
Because what does it do?
Speaker 3 (14:55):
And that's why you need tax planning because it could
be hired. It's an unknown question. Morek tax right, So
many people paying huge amount of taxes and they're going
to pay even more. So it's not the market that's
the threats taxes.
Speaker 4 (15:05):
Right.
Speaker 3 (15:06):
Another key point is smart investors just don't chase returns,
They chase efficiency. A tax aware strategy can boost your
long term wealth more than many investment changes could ever.
If you're saving on taxes, you have more time for
your account to grow tax free. And that's why there's
tax free buckets. There are tax saving strategies you can do,
and if you're with the right advisor, they can talk
(15:28):
to you about this. It's called tax planning. That's what
we do with the Maggie Tax and Financial Show, is
we educate people on tax efficient strategies. It's not just
about give your advisor the money and hopefully you can
chase the right stock or pick the right one. You
could do that, but also what's the rest of the game,
because when you got to pay taxes and all that,
you can wipe away the returns.
Speaker 4 (15:47):
All right.
Speaker 2 (15:48):
So here's what I said before. We've been taught to
save on a tax deferred basis. So let's flip that coin.
Let's start saving on a tax free basis. So when
you do the time and tax bill on my website,
on our website, and you look at this, if you
say on a tax ree basis and you pay the
tax today, I'll bet you in twenty thirty years, Chris
forty years, and they look at the account and they go,
(16:10):
what tax do I have to pay?
Speaker 4 (16:11):
What's the answer?
Speaker 3 (16:12):
Zero? You can never beat a zero tax account go
and it's a beautiful thing because every account you own
is tax differently, and most portfolios are just built backwards.
Their advice is not thinking that way. So your portfolio
is built backwards. Who wants an account that's built backwards?
You don't want to plan that way.
Speaker 2 (16:29):
Because that's what we were taught. And our show is
based on the fact of saving on a tax free basis,
and this is something that all of you should be
looking at. If you have an IRA four oh one k,
to show you how we can turn it into a
tax free account doing a rough conversion strategically and Chris,
this is what people are not educated on it. They think,
oh my gosh, I got to pay all this tax.
(16:50):
Now explain no, you don't.
Speaker 3 (16:52):
Well, that's why structuring your assets and the right accounts
can immediately increase what you keep. So pick up the phone,
schedule time to me with us eight three three Maggie Tax.
Visit our website at Maggie tax dot com. Because a
personalized tax plan can stretch your retirement dollars by years.
Just use this example. If your accounts growing at five
percent on a tax free basis, it's way better than
an account earning eight percent or ten percent on a
(17:15):
before tax basis, because you have to pay taxes at
a question mark tax rate. Who knows what it's going
to be. So when the IRS takes less, your income
lasts longer, your lifestyle improves, and your wealth grows faster.
That's what our mentality is here. So pick up the phone,
schedule time. Let's put together a tax plan for you.
Eight three three Maggie Tax and go to our.
Speaker 2 (17:34):
Website, Maggie tax dot com. I challenge all of you
have an IRA four oh one K. Go to the
top right and hit retirement tax bill. If you're honest
with everything, put your numbers in there, put your age
in there, and then by time you click it in
thirty seconds, you're going to get the report back of
what you're going to wind up getting or paying when
you turn seventy three.
Speaker 4 (17:52):
And this is important.
Speaker 2 (17:53):
So if you're thinking that taxes may be quietly draining
your retirement, you're not imagining. And it's true, it's happening
every single day to people who simply don't know any better,
or who waited until it was too late. And that's
the wrong strategy. But that doesn't have to be your story,
and we always say, you have a chance right now
to take control, okay, to legally keep more of the
(18:17):
money that you've worked your entire life to save, to
stop overpaying irs and start redirecting those dollars back into
your future, your family, and your peace of mind on
a tax free basis. But it starts with one step
picking up the phone a three to three Maggie Tax.
Stop being curious and start being serious, a three to
(18:38):
three Maggie Tax.
Speaker 1 (18:46):
Stop funding Uncle Sam's retirement and start planning for your
own successful retirement. As we return to the Maggie Tax
Financial Show with your host Robert and Chris Maggie with
Maggie Tax and Wealth Advisors. For information on how you
can create a tax free retirement, call eight three three
Maggie Tax, or visit Maggie Tax dot com now your
(19:09):
host with Maggie Tax and Wealth Advisors Robert and Chris Maggie.
Speaker 3 (19:14):
You spend a lifetime building your savings, but the moment
you step into retirement, everything changes. The rules shift, the
risks multiply, and the money you've worked so hard to
protect becomes more vulnerable than ever before. Inflation eats the
way you're buying power. Market volatility threatens your nest egg,
and healthcare costs explode, and unexpected life events can rewrite
(19:34):
your retirement in an instant. So welcome back to the
Maggie Tax and Wealth Advisors Show. And each and every
week we talked about clarity and confidence because the one
wrong move, or worse, no move at all, can undo
decades of hard work. So many people are in the
accumulation phase of their retirement, but what about the distribution phase?
And we specialize in helping people put together a plan
(19:56):
to help you during those retirement years. So pick up
the phone, schedule time to meet with us three three
Maggie TACs.
Speaker 2 (20:01):
But here's the truth most people don't hear. Remember those
legendary NFL defenses I mentioned before the commercial break, talk
about the Pittsburgh Steelers, the Chicago Bears. Well, retirement isn't
about growth anymore. It's about defense. Defense. Defense. That's funny, right,
You send it the game and you go defense defense.
Speaker 4 (20:20):
Well, that's the way it is. It's for real, okay.
Speaker 2 (20:23):
It's about protecting what you have, securing your income and
making sure your money last as long as you do so.
And this is where the right strategy becomes everything. Because
retirees who understand how to shield their savings don't just survive,
they strive, they live confidently, they sleep peacefully, and they
(20:43):
retire on their term. So these are strategies that safeguard
your life savings from the biggest threats in retirement and
reveal how you can protect everything you've worked for.
Speaker 4 (20:52):
Just remember, you worked so many years for this.
Speaker 2 (20:56):
And I know, and I bet you people listening out
there aren't really thinking about retirement. Correct. They're thinking about
whatever the next game is, or the next you know
play they're going to have, or the next you know
show they're going to see. They're not thinking about retirement,
not for a minute. And I think that's where most
people they don't get trained well, they don't get educated
that well. And you know what, when when you get
to the end end of the game, like they say,
(21:17):
you've got to score, but you can't be sure at
the goal line, Chris, You've got to get the right
information and make sure that it makes the right thing
for you.
Speaker 4 (21:25):
Well that's it.
Speaker 3 (21:25):
So that's why we have our show each and every
week on ABC TV at ten thirty on Sunday. Tune
in because we talk about these things. We talk about
what you can do. You know, if you have an
income plan in retirement, you're going to be better off.
But if you have no plan, then guess what you
have the government plan And that's not a plan that
you want. So think up the phone, schedule time to
meet with us. Eight three to three Maggie tax because
(21:47):
it's about protecting your assets in retirement. Retirement doubles your
exposure to risk. You know, without a paycheck, every dollar
must be protected from the market drops, the inflation, taxes,
and unexpected expenses. And it's true. I mean many people
in retirement when we do reviews with our clients, you know,
things happen, things are, things are going on, and what
(22:07):
do they do well, that's why they have to have
a plan. Because you can always go to another bucket
if you need more income or you know, maybe you
can go and have tax free income in the most
tax efficient way if you've set that up already for yourself.
And what about if something happens God forbid and you
need to pass away, do you want to go through
probate or do you want to go through avoiding the
(22:28):
probate process? And these are things that many people aren't
thinking about until today. And you know, I'm forty six
years old. And when I sit there and talk about
people who are about to retire and retire and I'll
do you know, they're old and than we are. But
the end of the day, they don't have a plan.
They need to have it. So if you're listening today,
put together a plan. Pay close attention, because now is
(22:49):
the time to do something. Eight three three, Maggie Tax.
Speaker 2 (22:52):
You know one thing I've always dreamed of and you
and I have done this before. I should open up
the retirement School of Retirement with Maggie Tax and Wealth Advice.
It's because ask your children how much they're learning in
school about defensive strategies for retirement. I don't think they are,
and how to win the retirement game. And that's up
to you the parent, and you know, and teach the
kids because the goal shifts how much can I make
(23:15):
to how long can I make it last?
Speaker 4 (23:18):
And that's the biggest problem right now.
Speaker 2 (23:19):
You know, people work today and they want to make
sure they have enough income and they're looking for a
job that's going to give them enough income and and
a retirement plan. So you know, one major market event
can permanently damage your income. If if the market goes
down and you're taking money out, it's going to reduce
your amount that you get because your account value went down.
So when you're withdrawing in retirement, losses hit harder and
(23:42):
recover slower, if they recover at all.
Speaker 4 (23:45):
I'm sorry, girl.
Speaker 3 (23:45):
Let's just use an example. Like many people say, do
you got to get to a million dollars or of
retirement dollars? Well, you don't have to because every situation
is different. When you move, the right advisor will talk
about how much income do you need. So let's just
use that a million dollars for an example of what
you just talked about. Because one major market event can
permanently damage your income. Right, So think about the million dollars. Well,
say the market goes down forty percent. Well, on the
(24:09):
million dollars that before the market went down, you were
getting say four percent income, that's forty thousand dollars a
year of income. But if the market goes down forty percent,
now you have six hundred thousand at four percent, that's
twenty four thousand dollars of income. So you just lost
sixteen thousand dollars of income because there was a big
market drop. So one major market event can permanently damage
(24:32):
your income. Have you thought about that, Because when you're
in the distribution phase of your retirement, losses hit harder
and the recover process is slower because on that six
hundred thousand dollars, you don't have to get forty percent
to break up. To get to even of a million dollars,
you have to do a lot more hard work just
to get to back to a million. So whatever it is,
(24:54):
if it's one hundred thousand, if it's two million, if
it's five hundred thousand, it doesn't matter. The concept is
the same. You have to make sure that you have
a plan. A protected plan gives you freedom because when
your income and assets are secure, you live retirement on
your terms, confidently, comfortably, and without fear, with clarity and confidence.
And that's why when people come to meet with us,
(25:16):
we put together Maggie Plan. The Maggi plan is what
income planning, tax planning, investment planning, social security maximization planning,
estate planning, legacy planning. When you meet with the right advisor,
there's so much that you can discuss to put together
a plan for you. Are you looking for a transaction?
(25:37):
Are you just trying to find the best stock or
the best fund out there to put your money into. Well,
if that's what you're looking for, that's that's not us.
But if you're looking for an overall plan where you're
dialed in on what you really want income in a
most tax efficient way, buckets of money with a purpose,
making sure that everything passes the way you want to,
then that's what we do for you. So you pick
up the phone, schedule time to meet with us. Eight
(25:58):
three three Magi tax here for you, maggietax dot com.
We have so many, so much help here to help
people and educate them on ways to do this right.
Speaker 2 (26:09):
So let's recap for a second because we said a
lot today, but there's four powerful bullets that protecting your
assets in retirement and how many of you really you know,
taking some time to do that. So retirement doubles your
exposure to risk. You got to be careful because the
older you get and the more risk you take, that's
going to lose your paycheck if you will, because you
have to have a paycheck when you retire. Could it
(26:30):
be so security? Could it be pensioned, Could it be interest,
could it be a lot of those things. But you
have to be ready to make sure that this is
protected and defensive strategies with retirement game. What am I
talking about there? I said it before? You know how
much red money green money do you have? Are you
taking too much risk? Are you doing a risk tolerance
to see what your risk is? Many people don't. They
(26:51):
just leave it and forget it, and that's not a
good way to go. And you know, one major market
event can permanently damage you know, your income because you
have to let us know. And one thing Chris and
I do on my advisors here at Maggie Tax and
Wealth Advisors, the first question is how much income do
you need in retirement? Because many of you don't think
about it. Many of you just take, like Chris talked
(27:13):
about before, takeout forty percent and then let the account
go down. That's not a retirement plan. That's not an
income plan. So think about it. Have someone review your account.
Even if you're right now listening to me and Chris,
maybe you think, oh, my accounts are great.
Speaker 4 (27:26):
No they're not.
Speaker 2 (27:27):
I can say they're not because something's wrong with them.
Have someone look at it, get a review, okay, and
a protected plan gives you freedom. And Chris, every time
we see clients come in, I think the biggest thing
is fear. You know, they're going to run out of money.
They're not sure what's going to happen with their you
know state plan. It's because they don't sit down and
talk to someone. And that's what we do with the
(27:47):
Maggie Plan. Would you agree absolutely?
Speaker 3 (27:49):
And that's why you know you mentioned there might be
something wrong with your plan, and you might not have
taxes built into it, you might not have guaranteed income
for life, a guaranteed paycheck and also a play check.
You know, you might have taking more risk than really
what you want in retirement. You know, it'd be great
if the market just kept going up, up, up, but
but but guess what, there will be pullbacks and what
(28:10):
are you doing about that? That's why it's so important
to get a plan. So if after hearing all that
and you're saying to yourself, I can't afford to lose
what I've built, then you already know how important this is.
Retirement isn't the time to gamble, It's not the time
to hope, or it's not even the time to guess.
It's the time to protect fiercely about what you've protected
(28:33):
and what you've built. You spend thirty four or even
fifty years building your savings. Don't let one moment of
inaction put it at risk. Markets won't slow down, inflation
won't pause, life won't wait. But you can take control today.
And that's why we put together the Maggie Plan, because
it's in complaining. Tax planning, investment planning. Pick up the
phone and call us today, Maggie Tax and Wealth Advisors,
(28:56):
right now. Let us share with you exactly how to
safeguard your retirement, your income, protect your nest egg, and
secure the retirement. You've worked so hard for those calendars, days,
the overtime that you worked. This is the most time,
right now, where everything can change. Don't wait, don't hope,
don't leave your future unprotected. Call now before the next
market drop, before the next surprise, even before one more
(29:20):
day passes without a plan a three to three Maggie tax.
If you feel your retirement is worth protecting, make the
call today eight three to three Maggie tax. We've all
had a docted checkup from time to time, some more
than others, But when was the last time you had
a portfolio checkup. We'll explain what that means in a moment.
Eight three to three Maggie Tax.
Speaker 1 (29:41):
Stop funding Uncle Sam's retirement and start planning for your
own successful retirement. As we return to the Maggie Tax
Financial Show with your host Robert and Chris Maggie with
Maggie Tax and Wealth Advisors. For information on how you
can create a tax free retirement, call eight three to
three bag Tax, or visit Maggie Tax dot com. Now
(30:03):
you're host with Maggie Tax and Wealth Advisors, Robert and
Chris Maggie.
Speaker 2 (30:08):
Welcome back to the Maggie Tax and Financial Show. I'm
Robert Maggie. I'm here with my son Chris Maggie, and
we're talking about an awful lot of topics today that
you know many of you have asked us about, and
that we see and see people every day and.
Speaker 4 (30:20):
Talk about it.
Speaker 2 (30:21):
So pick up the phone eight three three Maggie Tax,
visit our website, Maggie Tax dot com, and if you
have an IRA or a four O one K, click
on the retirement calculator and see for yourself what Chris
and I have been talking about and see what your
tax bill is going to be and let's get together.
So let me ask you a simple question. When was
the last time someone actually sat down and examined your
(30:43):
investments in which we've been talking about, not glandstat it,
you know, when let me say, glanced at the bottom line,
not skim through it, but truly evaluated whether your portfolio
still matches your goals, your age, your risk tolerance, and
the world we live in right now. And Chris I
can tell you every time we meet with the client
the answer is no. And to me, you know it's
(31:05):
it's because here's the truth. What worked five years ago,
three years ago, and even last year might be completely
different for you today. Like we say, markets change, interest
rates shift, tax laws move. We all know that your
life evolves, but most people let their investments sit untouched,
drifting slowly weakening over time. Enter the portfolio checkup zone.
Speaker 4 (31:27):
That's what it is.
Speaker 3 (31:28):
You know, we all need a checkup each and every
once in a while, right because a portfolio checkup isn't
a luxury, it's a necessity. It's how you uncover hidden risks,
outdated allocations, unnecessary fees. What are the fees you're pain
in your account? What about lost opportunities that could be
costing you real money each and every year, But what
are you doing about it?
Speaker 2 (31:46):
Because you just don't know.
Speaker 4 (31:47):
Right.
Speaker 3 (31:47):
That's why it's so important to get a checkup, because
let's take a look inside the process of diagnosing your
portfolio the way a financial surgeon would. Because once you
see what a true portfolio checkup reveals, you'll never look
at your accounts the same way again. And that goes
for everything.
Speaker 2 (32:02):
Right.
Speaker 3 (32:03):
Once you koow about something, you know something, you look
at it a different way. If peace of mind, clarity
and confidence matter to you. And stay right here because
that's what we're talking about now when jump onto this segment,
because it's so important to have the necessary checkup that
you need and we can help you. It's is you're
never too old or you can't go back to your
(32:24):
current advisor. Get a second opinion. Let's get a second opinion.
Let's look at what you have. Let's look at the
tax side. If they're not looking at your tax return,
you might want to think about another advisor. So a
three to three Maggie tax.
Speaker 4 (32:35):
So let's talk.
Speaker 2 (32:35):
About four powerful bullets. If you have a pan of paper,
write them down. We just call it a simple portfolio
checkup because most portfolios are outdated and miss aligned because
you don't get a review that often. Markets move fast
and if your strategy hasn't kept up, you're likely taking
too much risk or earning too little return. And that's
the comments we get all the time. My account is
(32:56):
not performing, I'm not making enough interest and blah blah
blah goes on on. What about the fees and insufficiencies
silently draining your wealth so you could be losing thousands
per year without even realizing it. And Chris as a
checkup if you don't look even every quarter, at least
get you know, someone to look at your account to
make sure because you don't know what happens and every
day things change, right.
Speaker 4 (33:17):
Well, that's it.
Speaker 3 (33:17):
I mean, you know you are you being paying fees
on transactions? Are are you paying fees on commissions? Are
you what do you built? What's your portfolio built on?
That's what you want to know, And when you come
to meet with us as a fiduciary, we're going to
explain that to you. You know everything we do, you
have to know it first. You have to sign off
on it first. I mean, that's honesty, right, that's just
(33:38):
clear communication. You deserve that. I don't care if you
have ten thousand or ten million, it doesn't matter. The
fact of the matter is that you need clarity and
confidence and transparency. So we can show you that. What
about small changes they create big lift. What do I
mean by that? Well, a simple reallocation or tax smart
adjustments can dramatically improve performance and also reduce the risk.
(34:02):
You know, many people don't look at their form. One case,
they about ten years ago when they signed up for
it and it's still in the same allocation they are today.
That's not what you need to do, because small changes
each and every year or quarter can make a big
lift on those accounts, especially if you're contributing to it.
You're feeding them, you're doing something about it. So these
are just three important things that you should re do.
(34:23):
What about the last one?
Speaker 2 (34:24):
Oh, this one to me is most important to a
lot of people out there. A professional review listen carefully
exposes what software and statements can't and what you understand
with AI out there and all these other things. You
believe me, I've seen it so many times. Chris has
seen it so many times you may have problems and
you don't know about it, but you know, real analysis
(34:45):
reveals hidden dangers and missed opportunities. Algorithms never catch and
this is a big thing, Chris. They think everything's fine,
and it's not fine.
Speaker 3 (34:52):
Well just give an example. Like some of the data
and technology these days. I mean, they can analyze the stocks,
the ETFs, so different funds, all the different investments, very
very quickly. And that's just just AMMO for you because
you might it might take days or weeks for some
advisors that put this together in an analysis, where it
could take five to ten minutes. And when you do that,
(35:13):
you can you can pinpoint and move in a different
direction if needed. That's why it's so important that you
don't just look at statements because sometimes there's so many
positions on a statement you don't know what that means.
You're buying a stock here or an ETF there, or
what are you doing with it? So that's why it's
so important to meet with us. A three to three
Maggie tax is if you've been listening to the show
(35:34):
and even the slightest part of you is wondering, is
my portfolio really set up? The way it should be.
Then that's the question alone is a signal. It's a signal.
It's what you should do to pick up the phone
and schedule time to meet with us a three to
three MAGI tax.
Speaker 2 (35:48):
Because the people who get ahead financially, they aren't the
ones with perfect timing or inside information or a crystal ball.
You all know that they are the ones who take
action when they know so something needs attention. Why do
we say that because you should set up a review.
You have nothing to lose. Okay, set up a review
just for peace of mind. And maybe there are things
(36:08):
that we can show you that might help you talk
about taxes, income planning, investment planning, legacy planning. I can
tell you right now how many people out there don't
have a will or a trust package? How important is
that for your retirement for when something happens to you?
And I have to tell you know, we do fourth
seminars a month at libraries on a state planning. If
(36:29):
you need to come to them, go to my website
Maggie tax dot com and you can see where they
are and register for one call. Now, your future depends
on the decisions you make today. Call a three three
Maggie Tax, or visit our website, Maggie Tax dot com.
Just remember the decision is yours. Are you curious or
are you serious? We covered a lot of information on
today's show, and if you missed any of it, visit
(36:49):
our website, Maggie Tax dot com. Click on the media
tab and listen anytime, or visit us on any of
the social media platforms to catch up. And before we
go next week, we'll be talking about will I Live
My Money? And you don't want to miss it A
through three Maggie Tax.
Speaker 1 (37:05):
Thank you for listening to Maggie Tax and Financial Show
with Robert and Chris Maggie of Maggie Tax Wealth Advisors.
Listen here five to six pm every Saturday and from
eleven am till noon every Sunday, or anytime on the
free iHeartRadio app. And remember you can pay less tax
with Maggie Tax Program. Content provided by Maggie Tax Wealth
(37:26):
and Advisors. Call them at eight three three Maggie Tax,
or visit them online at Maggietax dot com
All these years you've saved up planning for a secure retirement,
but if you're not careful, it will be the irs
that is living it up when you retire by taxing
your hard earned money. Welcome to the Maggie Tax and
Financial Show with Robert and Chris Maggie of Maggie Tax
and Wealth Advisors. With over four decades 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 next day from Uncle Sam. Call them at
eight three three Maggie Tax or online at Maggie Tax
dot com. And now your host for the Maggie Tax
and Financial Show, Robert and Chris Maggie.
Speaker 2 (00:41):
Hello everyone, and welcome to the Maggie Tax and Wealth
Advisor Show. My name is Robert Maggie and we're grateful
that you're spending part of your day with us. And
whether you're driving, relaxing at home, or listening on the go,
this is your place for clarity, confidence, and real guidance
on building a stronger financial future. Each week we walk
you through the four pillars that shape a success. Us
full retirement and today is no different. And I'd like
(01:02):
to introduce my son, Chris Maggie, and we have a
lot to talk about.
Speaker 3 (01:05):
Absolutely, so welcome everyone. I am Chris Maggie and thank
you so much for tuning into the show. As my
dad mentioned before, you know, we're trying to provide clarity
and confidence to you because this is your step right
now to do something to protect yourself, to make sure
that you have a plan in retirement. So visit our
website at Maggie Tax dot com, pick up the phone,
schedule time to meet with us. Write this number down
(01:25):
eight three three Maggie Tax. That's m A G G
I T a X dot com. So first throughout today's show,
we're going to dive into investment planning because your future
deserves a plan, not a guess, you know. Then we're
going to explore tax planning with your investments. We want
to help you keep more of what you earn so
your money works smarter, not harder. We'll also talking about
(01:46):
protecting your assets in retirement. We want to ensure that
the nest egg that you've built stays safe through market
swings and also life unexpected moments. And finally, I'm going
to wrap up with a check up on your current investments.
Who wants a check up? Well, every year, every month,
you need to make sure that you're looking at something
because a simple but powerful way to make sure your
(02:08):
financial strategy is truly aligned with your goals. And this
is so important because goals change, life changes, life happens,
but making sure your goals are on track. So here
at Magatax and Wealth Advisors, our mission is very simple,
is to help you plan, protect and prosper. And if
you ever find yourself thinking I'd love to take someone
(02:29):
or really have someone look at my situation, well we'll
be honored to meet with you. That's why we do
what we do. We do complete planning, tax planning, investment planning,
insurance planning, income planning. We want to empower you with
knowledge and invite you into a conversation that can change
your financial future because this is your money. Making sure
(02:49):
that you put together a plan is so important. So
settle in, stay with us, and let's let's get started here.
Speaker 2 (02:56):
Yeah, So let me ask you all a questions. Let
me ask you something. When you think of your financial future,
are you driving the car or are you just hoping
the road takes you somewhere good because in today's world,
hope is not a strategy, and the right investment plan
can change the entire trajectory of your life, and the
wrong one it can cost you years, over time and comfort.
(03:18):
So choosing your where to put your money today isn't
just important, it's mission critical, market shift and economics change,
and the people who win are the ones who plan
with a purpose. And that's what we call the Maggie Plan,
simple and easy to understand. Maggie Tax and Wealth Advisors
believes every single dollar should have a job, a mission,
(03:39):
and a path toward growth. So if your investments are scattered,
they're outdated, or writing the ups and downs of the
market without a strategy behind them, then today's segment is
going to open up your eyes because this isn't just
about investing, It's about building the future that you want
with intention, clarity and confidence. So so buckle up. This
is where financial transformation begins.
Speaker 3 (04:02):
So let's talk about this. You mentioned where it's scattered.
It's a big word outdated. How many people do we see?
How often is people's accounts just scattered everywhere? I know
I can talk about when people come in and meet
with us. They have piles of money, They have paper everywhere.
They have a statement here, a statement there. They go, oh,
I forgot about this one, and I didn't bring that
one in. I think I have a couple at home,
(04:22):
you know, I think that one is with the other company,
but I'm not sure. So these are everything scattered unknown.
I mean, what do we do to put that together?
For people to help.
Speaker 2 (04:30):
Them, well, they have to be willing to meet with
someone like Maggie tax and wealth advisors and sit down
and have a conversation. And I spoke to someone today
and they said to us, you know, why doesn't advisors
sit down and talk about what you guys talk about
complete planning, like your son says all this stuff. It's
because they're just settled on one product and one you
know thing only. So your money must have a mission.
(04:52):
I said that before, and this is one of the
biggest concerns. Every dollar that you have should be working
toward a specific goal, whether it be growth both, whether
it be income protection, not drifting in the market without purpose.
And that's one of the things. It has to have
a purpose. I don't know if anyone speaks to you
about purpose but we talk about growth, and the biggest
thing Chris and I always ask us about income.
Speaker 3 (05:14):
And that's a great point. Income with your investments, they
go together because what many people don't realize is that
your investments could cause you to have less income or
more income. I mean if you're depending on your investments
to go ahead and perform and not perform, and then
you could have less income. So having investments with a
purpose is so crucial. So pick up the phone and
(05:35):
schedule time to meet with us. Because if you have
questions about your investments and are they going to generate
the right income you live enough of dividends? Are you
dipping into the principle, then pick up the phone, schedule
time to meet with us. Eight three three Magie tax.
Speaker 2 (05:48):
So a plan outperforms guests work every time. What does
that mean? Because if you have a plan, like an
income plan, a tax plan, an investment plan, then you
don't have to worry about guessing any time. I mean
that's the problem. I think a lot of people have.
They think they have a plan, and they don't. And
those who invest with intention consistently outperform those who react
(06:09):
to headlines, emotions or market noise. So think about this.
When you have a plan and you know it's going
to be giving you a certain amount of income every
single month or every single year, no matter what the
market does, it's not going to affect it. And that's
what we talk about, Chris, when we talk about the
Maggie Plan. When you have buckets, and you can talk
about this in a second, most people don't know what
(06:31):
buckets mean. When you talk about investment planning. You have
to have a bucket for now, a bucket for later,
and a bucket for maybe after you retire or when
you die. And this is what I see, and I
think we both see that they don't have a plan
to basically take care of the first thing, income, the
second thing, growth, and then later when you pass away.
Speaker 4 (06:53):
Is that right? Yeah?
Speaker 3 (06:54):
And when people come in to meet with us, you
put the other a balance sheet. We talked about this prior,
is that if you have statements and piles of money,
we're going to organize that for you. You're gonna have organization.
You're going to know what's taxable, what's non taxable, and
then from there. That's why we put together a plan,
because you mentioned a plan outperforms guesswork. Every time when
we put our plans together. We have now money, which
we generate income. We have later money, which is later
(07:16):
money where maybe five to ten years we'll touch that bucket,
and then we have never money that could be eleven
plus years that maybe you don't even touch it because
you're never going to touch it.
Speaker 2 (07:25):
Possibly.
Speaker 3 (07:26):
But so if you invest your now money like you
will your later money, then you pretty much don't have
an investment plan. And many people don't realize that in retirement,
income is so crucial because I just met with someone
last week and they're talking about income and she's draining.
She has a twelve percent distribution rate. She's spending a
lot of money, and we talked about it and I said,
(07:47):
there's no investment out there generating a twelve percent guaranteed return.
And she said, well, that's fine. I just want to
spend my money because I don't want to leave it
to my kids. And I said, Okay, that's her, that's
her situation. She has a plan, right because she knows
that she's going to spend the money and she's gonna
live off of what she has. So a plan outperforms guesswork.
If you don't have one get one eight three three,
(08:07):
Maggie Tax. Let's talk about market change, Dad, and how
your strategy must do the same.
Speaker 4 (08:12):
Well, we talk.
Speaker 2 (08:12):
About like red money green money to every client. Why
because when a client comes in and we look at
their portfolio and we see what kind of risk they're taking,
which is very important to all of you. If you're
taking too much risk, then that may not be the
right choice for you. If you lower the risk but
still have growth in everything with it, then you're going
to be okay. But you can't risk all your portfolio
(08:32):
one hundred percent in red money or in the market because,
as you all know, guess what happens, the market changes.
Speaker 4 (08:38):
So if you don't.
Speaker 2 (08:39):
Understand how to separate your money from red money green
money and actively manage it where someone watches it for you,
then you need to do that and the other thing, Chris,
just to make this even easier, if people use a
budget sheet, which we see so many people don't, can
you basically separate the money for them and show them
what they're doing.
Speaker 3 (08:57):
That's it. I mean when people come in and we're
going to look at your budget, your income, your investments,
put all together, even your taxes, which we haven't talked
about yet today, but you know, markets change and your
strategy must too. You know what worked five years ago
maybe hurting you today. So that's why a modern, actively
reviewed plan is the difference between momentum and stagnation. And
we talk about this all the time. So that's why
(09:19):
it's important to pick up the phone, schedule time to
meet with us eight three three Maggie Tax because we
can help you put together a plan that's what people want.
Speaker 2 (09:28):
And let me also say this, small adjustments can create
massive results later, so you don't have to dump everything
at the same time. But when you start realizing that
you can strategically make this happen for you because the
right allocation or even the tax efficient move today, trust me,
can add years of comfort, freedom, and financial confidence to
your retirement.
Speaker 4 (09:48):
I think this is what people fall short.
Speaker 2 (09:50):
They don't plan and they don't put a package together
like the Maggie plan that we talk about.
Speaker 3 (09:54):
That's exactly right. So if you're listening right now and
even one part of you is thinking, I'm not sure
wh my investments are a positioned the way they should be.
If you're feeling that way, then this is your wake
up call. The markets won't wait. You know your retirement
won't wait as well, and delaying the right plan could
cost you more than you realize. So at Magi Tax
Advisory and Wealth Advisors, we help families every single day
(10:18):
turn confusion into clarity and uncertainty into confidence. Because you
retire once, well, we retire each and every day. So
pick up the phone right now, call us right now.
Don't put this off. Don't hope things sort themselves out.
Let's build a real plan together that protects your future
and gives you the peace of mind that you deserve.
Call a three to three Maggie Tax. What's the biggest
(10:39):
secret to changing the way you think about building wealth? Well,
we'll share that right next on the Magi Tax and
Wealth Advisors.
Speaker 1 (10:44):
Show, stop funding Uncle Sam's retirement and start planning for
your own successful retirement. As we return to the Maggie
Tax Financial Show with your host Robert and Chris. Maggie
with Maggie Tax and Wealth Advisors. For information on how
you can create a tax free retirement, call eight three
(11:07):
three Maggie Tax or visit Maggie Tax dot com. Now
you're host with Maggie Tax and Wealth Advisors. Robert and
Chris Maggie.
Speaker 4 (11:16):
All right, let's shift gears.
Speaker 3 (11:17):
Welcome back to the Maggie Tax and Wealth Advisors Show.
And before the break, I asked, what is the biggest
secret to change in the way you think about building wealth? Well,
here's the truth. Taxes are the single biggest expense you'll
face in retirement. You know, It's bigger than healthcare, it's
bigger than travel, it's even bigger than market losses. And
yet most investors never take the time to align their
(11:38):
investments with the tax strategies that could save them tens
of hundreds of thousands of dollars sometimes even more over
their lifetime. So welcome back to the Maggie Tax and
Wealth Advisor Show. And I'm here with my dad and
cost of the show. And today we're talking about a
lot of things. But most advisors out there basically tell
their clients will go consult with a tax advisor. Meanwhile,
(12:00):
they're not even thinking about taxes, not doing the justice
for you. And that's why we think it's not the
right plan. So pick up the phone, schedule time to
meet with us. Because if you're looking for complete planning,
tax planning, investment planning, investment planning, social security planning, income planning,
and state planning. We can help eight three to three Maggie.
Speaker 2 (12:18):
Tax And this is where smart money separates itself from
average money because when you understand the tax code, when
you use it to your advantage, your investments suddenly grow faster,
they last longer, and create far more security for your family.
And I'm not asking you to be a tax advisor.
I'm not asking you to be, you know, a tax preparer.
(12:39):
I'm asking you to come in because we understand that
that's what we do every day. And I think that
if you have an explanation where you can understand it
and it makes clarity like Chris talks about before, it's
going to help you. So let's pull back the curtain
on the strategies the ulture smart investors use to legally
reduce their tax burden. And I always get this question.
(12:59):
Legally is the key word. But the bottom line is
are going to boost their income and stretch their retirement
dollars further than they ever thought possible. And just remember,
taxes change.
Speaker 4 (13:09):
All the time.
Speaker 2 (13:09):
It's not carved in stone, and you have to be
aware like we are about the changes to explain it
to you. So let's talk about how some people seem
to get ahead faster than some other people.
Speaker 3 (13:20):
Cross why because they use tax planning with their investments.
And let's talk about this because there's a couple of
different key pullet points that we want to stress today.
Number one is taxes are your biggest retirement threat. It's
not the market. And when you understand that, then you
start doing tax planning and you can start talking about
tax buckets and tax efficient strategies because without the right plan,
(13:42):
you could pay more in taxes over your lifetime than
you ever say for in retirement. Let's just talk about
iras for a minute. We do the retirement tax BOMP.
When people come in and they have an IRA, which
is an account that's before tax, it's infected with taxes.
We have to pay taxes when you take that distribution out.
So explain to listening today if they have the IRA,
(14:02):
that retirement tax bill report is so important.
Speaker 4 (14:05):
Exactly, and think about this.
Speaker 2 (14:07):
We're all taught to save in a four oh one
k an IRA, a TSP of four or three B
on a tax deferred basis. So think about this for
a second because this kind of drives me nuts every
time I think about it. We work for twenty thirty
years and we have a tax deferred. Every year we
get a tax deduction. Okay, so stop and think a second.
We get a tax deduction. What happens when you retire. Well,
(14:29):
with the retirement tax bill that we have on our
on our website Maggie tax dot com, it's going to
show you that when you start taking the money at.
Speaker 4 (14:36):
Seventy three what you have to take out.
Speaker 2 (14:38):
But guess what when you take that money out, it
goes back on your tax return. Chris is income and
at what bracket and what level? So basically my question
is is the tax deduction you took over those years worth,
what's going to happen to you now?
Speaker 4 (14:54):
Because what does it do?
Speaker 3 (14:55):
And that's why you need tax planning because it could
be hired. It's an unknown question. Morek tax right, So
many people paying huge amount of taxes and they're going
to pay even more. So it's not the market that's
the threats taxes.
Speaker 4 (15:05):
Right.
Speaker 3 (15:06):
Another key point is smart investors just don't chase returns,
They chase efficiency. A tax aware strategy can boost your
long term wealth more than many investment changes could ever.
If you're saving on taxes, you have more time for
your account to grow tax free. And that's why there's
tax free buckets. There are tax saving strategies you can do,
and if you're with the right advisor, they can talk
(15:28):
to you about this. It's called tax planning. That's what
we do with the Maggie Tax and Financial Show, is
we educate people on tax efficient strategies. It's not just
about give your advisor the money and hopefully you can
chase the right stock or pick the right one. You
could do that, but also what's the rest of the game,
because when you got to pay taxes and all that,
you can wipe away the returns.
Speaker 4 (15:47):
All right.
Speaker 2 (15:48):
So here's what I said before. We've been taught to
save on a tax deferred basis. So let's flip that coin.
Let's start saving on a tax free basis. So when
you do the time and tax bill on my website,
on our website, and you look at this, if you
say on a tax ree basis and you pay the
tax today, I'll bet you in twenty thirty years, Chris
forty years, and they look at the account and they go,
(16:10):
what tax do I have to pay?
Speaker 4 (16:11):
What's the answer?
Speaker 3 (16:12):
Zero? You can never beat a zero tax account go
and it's a beautiful thing because every account you own
is tax differently, and most portfolios are just built backwards.
Their advice is not thinking that way. So your portfolio
is built backwards. Who wants an account that's built backwards?
You don't want to plan that way.
Speaker 2 (16:29):
Because that's what we were taught. And our show is
based on the fact of saving on a tax free basis,
and this is something that all of you should be
looking at. If you have an IRA four oh one k,
to show you how we can turn it into a
tax free account doing a rough conversion strategically and Chris,
this is what people are not educated on it. They think,
oh my gosh, I got to pay all this tax.
(16:50):
Now explain no, you don't.
Speaker 3 (16:52):
Well, that's why structuring your assets and the right accounts
can immediately increase what you keep. So pick up the phone,
schedule time to me with us eight three three Maggie Tax.
Visit our website at Maggie tax dot com. Because a
personalized tax plan can stretch your retirement dollars by years.
Just use this example. If your accounts growing at five
percent on a tax free basis, it's way better than
an account earning eight percent or ten percent on a
(17:15):
before tax basis, because you have to pay taxes at
a question mark tax rate. Who knows what it's going
to be. So when the IRS takes less, your income
lasts longer, your lifestyle improves, and your wealth grows faster.
That's what our mentality is here. So pick up the phone,
schedule time. Let's put together a tax plan for you.
Eight three three Maggie Tax and go to our.
Speaker 2 (17:34):
Website, Maggie tax dot com. I challenge all of you
have an IRA four oh one K. Go to the
top right and hit retirement tax bill. If you're honest
with everything, put your numbers in there, put your age
in there, and then by time you click it in
thirty seconds, you're going to get the report back of
what you're going to wind up getting or paying when
you turn seventy three.
Speaker 4 (17:52):
And this is important.
Speaker 2 (17:53):
So if you're thinking that taxes may be quietly draining
your retirement, you're not imagining. And it's true, it's happening
every single day to people who simply don't know any better,
or who waited until it was too late. And that's
the wrong strategy. But that doesn't have to be your story,
and we always say, you have a chance right now
to take control, okay, to legally keep more of the
(18:17):
money that you've worked your entire life to save, to
stop overpaying irs and start redirecting those dollars back into
your future, your family, and your peace of mind on
a tax free basis. But it starts with one step
picking up the phone a three to three Maggie Tax.
Stop being curious and start being serious, a three to
(18:38):
three Maggie Tax.
Speaker 1 (18:46):
Stop funding Uncle Sam's retirement and start planning for your
own successful retirement. As we return to the Maggie Tax
Financial Show with your host Robert and Chris Maggie with
Maggie Tax and Wealth Advisors. For information on how you
can create a tax free retirement, call eight three three
Maggie Tax, or visit Maggie Tax dot com now your
(19:09):
host with Maggie Tax and Wealth Advisors Robert and Chris Maggie.
Speaker 3 (19:14):
You spend a lifetime building your savings, but the moment
you step into retirement, everything changes. The rules shift, the
risks multiply, and the money you've worked so hard to
protect becomes more vulnerable than ever before. Inflation eats the
way you're buying power. Market volatility threatens your nest egg,
and healthcare costs explode, and unexpected life events can rewrite
(19:34):
your retirement in an instant. So welcome back to the
Maggie Tax and Wealth Advisors Show. And each and every
week we talked about clarity and confidence because the one
wrong move, or worse, no move at all, can undo
decades of hard work. So many people are in the
accumulation phase of their retirement, but what about the distribution phase?
And we specialize in helping people put together a plan
(19:56):
to help you during those retirement years. So pick up
the phone, schedule time to meet with us three three
Maggie TACs.
Speaker 2 (20:01):
But here's the truth most people don't hear. Remember those
legendary NFL defenses I mentioned before the commercial break, talk
about the Pittsburgh Steelers, the Chicago Bears. Well, retirement isn't
about growth anymore. It's about defense. Defense. Defense. That's funny, right,
You send it the game and you go defense defense.
Speaker 4 (20:20):
Well, that's the way it is. It's for real, okay.
Speaker 2 (20:23):
It's about protecting what you have, securing your income and
making sure your money last as long as you do so.
And this is where the right strategy becomes everything. Because
retirees who understand how to shield their savings don't just survive,
they strive, they live confidently, they sleep peacefully, and they
(20:43):
retire on their term. So these are strategies that safeguard
your life savings from the biggest threats in retirement and
reveal how you can protect everything you've worked for.
Speaker 4 (20:52):
Just remember, you worked so many years for this.
Speaker 2 (20:56):
And I know, and I bet you people listening out
there aren't really thinking about retirement. Correct. They're thinking about
whatever the next game is, or the next you know
play they're going to have, or the next you know
show they're going to see. They're not thinking about retirement,
not for a minute. And I think that's where most
people they don't get trained well, they don't get educated
that well. And you know what, when when you get
to the end end of the game, like they say,
(21:17):
you've got to score, but you can't be sure at
the goal line, Chris, You've got to get the right
information and make sure that it makes the right thing
for you.
Speaker 4 (21:25):
Well that's it.
Speaker 3 (21:25):
So that's why we have our show each and every
week on ABC TV at ten thirty on Sunday. Tune
in because we talk about these things. We talk about
what you can do. You know, if you have an
income plan in retirement, you're going to be better off.
But if you have no plan, then guess what you
have the government plan And that's not a plan that
you want. So think up the phone, schedule time to
meet with us. Eight three to three Maggie tax because
(21:47):
it's about protecting your assets in retirement. Retirement doubles your
exposure to risk. You know, without a paycheck, every dollar
must be protected from the market drops, the inflation, taxes,
and unexpected expenses. And it's true. I mean many people
in retirement when we do reviews with our clients, you know,
things happen, things are, things are going on, and what
(22:07):
do they do well, that's why they have to have
a plan. Because you can always go to another bucket
if you need more income or you know, maybe you
can go and have tax free income in the most
tax efficient way if you've set that up already for yourself.
And what about if something happens God forbid and you
need to pass away, do you want to go through
probate or do you want to go through avoiding the
(22:28):
probate process? And these are things that many people aren't
thinking about until today. And you know, I'm forty six
years old. And when I sit there and talk about
people who are about to retire and retire and I'll
do you know, they're old and than we are. But
the end of the day, they don't have a plan.
They need to have it. So if you're listening today,
put together a plan. Pay close attention, because now is
(22:49):
the time to do something. Eight three three, Maggie Tax.
Speaker 2 (22:52):
You know one thing I've always dreamed of and you
and I have done this before. I should open up
the retirement School of Retirement with Maggie Tax and Wealth Advice.
It's because ask your children how much they're learning in
school about defensive strategies for retirement. I don't think they are,
and how to win the retirement game. And that's up
to you the parent, and you know, and teach the
kids because the goal shifts how much can I make
(23:15):
to how long can I make it last?
Speaker 4 (23:18):
And that's the biggest problem right now.
Speaker 2 (23:19):
You know, people work today and they want to make
sure they have enough income and they're looking for a
job that's going to give them enough income and and
a retirement plan. So you know, one major market event
can permanently damage your income. If if the market goes
down and you're taking money out, it's going to reduce
your amount that you get because your account value went down.
So when you're withdrawing in retirement, losses hit harder and
(23:42):
recover slower, if they recover at all.
Speaker 4 (23:45):
I'm sorry, girl.
Speaker 3 (23:45):
Let's just use an example. Like many people say, do
you got to get to a million dollars or of
retirement dollars? Well, you don't have to because every situation
is different. When you move, the right advisor will talk
about how much income do you need. So let's just
use that a million dollars for an example of what
you just talked about. Because one major market event can
permanently damage your income. Right, So think about the million dollars. Well,
say the market goes down forty percent. Well, on the
(24:09):
million dollars that before the market went down, you were
getting say four percent income, that's forty thousand dollars a
year of income. But if the market goes down forty percent,
now you have six hundred thousand at four percent, that's
twenty four thousand dollars of income. So you just lost
sixteen thousand dollars of income because there was a big
market drop. So one major market event can permanently damage
(24:32):
your income. Have you thought about that, Because when you're
in the distribution phase of your retirement, losses hit harder
and the recover process is slower because on that six
hundred thousand dollars, you don't have to get forty percent
to break up. To get to even of a million dollars,
you have to do a lot more hard work just
to get to back to a million. So whatever it is,
(24:54):
if it's one hundred thousand, if it's two million, if
it's five hundred thousand, it doesn't matter. The concept is
the same. You have to make sure that you have
a plan. A protected plan gives you freedom because when
your income and assets are secure, you live retirement on
your terms, confidently, comfortably, and without fear, with clarity and confidence.
And that's why when people come to meet with us,
(25:16):
we put together Maggie Plan. The Maggi plan is what
income planning, tax planning, investment planning, social security maximization planning,
estate planning, legacy planning. When you meet with the right advisor,
there's so much that you can discuss to put together
a plan for you. Are you looking for a transaction?
(25:37):
Are you just trying to find the best stock or
the best fund out there to put your money into. Well,
if that's what you're looking for, that's that's not us.
But if you're looking for an overall plan where you're
dialed in on what you really want income in a
most tax efficient way, buckets of money with a purpose,
making sure that everything passes the way you want to,
then that's what we do for you. So you pick
up the phone, schedule time to meet with us. Eight
(25:58):
three three Magi tax here for you, maggietax dot com.
We have so many, so much help here to help
people and educate them on ways to do this right.
Speaker 2 (26:09):
So let's recap for a second because we said a
lot today, but there's four powerful bullets that protecting your
assets in retirement and how many of you really you know,
taking some time to do that. So retirement doubles your
exposure to risk. You got to be careful because the
older you get and the more risk you take, that's
going to lose your paycheck if you will, because you
have to have a paycheck when you retire. Could it
(26:30):
be so security? Could it be pensioned, Could it be interest,
could it be a lot of those things. But you
have to be ready to make sure that this is
protected and defensive strategies with retirement game. What am I
talking about there? I said it before? You know how
much red money green money do you have? Are you
taking too much risk? Are you doing a risk tolerance
to see what your risk is? Many people don't. They
(26:51):
just leave it and forget it, and that's not a
good way to go. And you know, one major market
event can permanently damage you know, your income because you
have to let us know. And one thing Chris and
I do on my advisors here at Maggie Tax and
Wealth Advisors, the first question is how much income do
you need in retirement? Because many of you don't think
about it. Many of you just take, like Chris talked
(27:13):
about before, takeout forty percent and then let the account
go down. That's not a retirement plan. That's not an
income plan. So think about it. Have someone review your account.
Even if you're right now listening to me and Chris,
maybe you think, oh, my accounts are great.
Speaker 4 (27:26):
No they're not.
Speaker 2 (27:27):
I can say they're not because something's wrong with them.
Have someone look at it, get a review, okay, and
a protected plan gives you freedom. And Chris, every time
we see clients come in, I think the biggest thing
is fear. You know, they're going to run out of money.
They're not sure what's going to happen with their you
know state plan. It's because they don't sit down and
talk to someone. And that's what we do with the
(27:47):
Maggie Plan. Would you agree absolutely?
Speaker 3 (27:49):
And that's why you know you mentioned there might be
something wrong with your plan, and you might not have
taxes built into it, you might not have guaranteed income
for life, a guaranteed paycheck and also a play check.
You know, you might have taking more risk than really
what you want in retirement. You know, it'd be great
if the market just kept going up, up, up, but
but but guess what, there will be pullbacks and what
(28:10):
are you doing about that? That's why it's so important
to get a plan. So if after hearing all that
and you're saying to yourself, I can't afford to lose
what I've built, then you already know how important this is.
Retirement isn't the time to gamble, It's not the time
to hope, or it's not even the time to guess.
It's the time to protect fiercely about what you've protected
(28:33):
and what you've built. You spend thirty four or even
fifty years building your savings. Don't let one moment of
inaction put it at risk. Markets won't slow down, inflation
won't pause, life won't wait. But you can take control today.
And that's why we put together the Maggie Plan, because
it's in complaining. Tax planning, investment planning. Pick up the
phone and call us today, Maggie Tax and Wealth Advisors,
(28:56):
right now. Let us share with you exactly how to
safeguard your retirement, your income, protect your nest egg, and
secure the retirement. You've worked so hard for those calendars, days,
the overtime that you worked. This is the most time,
right now, where everything can change. Don't wait, don't hope,
don't leave your future unprotected. Call now before the next
market drop, before the next surprise, even before one more
(29:20):
day passes without a plan a three to three Maggie tax.
If you feel your retirement is worth protecting, make the
call today eight three to three Maggie tax. We've all
had a docted checkup from time to time, some more
than others, But when was the last time you had
a portfolio checkup. We'll explain what that means in a moment.
Eight three to three Maggie Tax.
Speaker 1 (29:41):
Stop funding Uncle Sam's retirement and start planning for your
own successful retirement. As we return to the Maggie Tax
Financial Show with your host Robert and Chris Maggie with
Maggie Tax and Wealth Advisors. For information on how you
can create a tax free retirement, call eight three to
three bag Tax, or visit Maggie Tax dot com. Now
(30:03):
you're host with Maggie Tax and Wealth Advisors, Robert and
Chris Maggie.
Speaker 2 (30:08):
Welcome back to the Maggie Tax and Financial Show. I'm
Robert Maggie. I'm here with my son Chris Maggie, and
we're talking about an awful lot of topics today that
you know many of you have asked us about, and
that we see and see people every day and.
Speaker 4 (30:20):
Talk about it.
Speaker 2 (30:21):
So pick up the phone eight three three Maggie Tax,
visit our website, Maggie Tax dot com, and if you
have an IRA or a four O one K, click
on the retirement calculator and see for yourself what Chris
and I have been talking about and see what your
tax bill is going to be and let's get together.
So let me ask you a simple question. When was
the last time someone actually sat down and examined your
(30:43):
investments in which we've been talking about, not glandstat it,
you know, when let me say, glanced at the bottom line,
not skim through it, but truly evaluated whether your portfolio
still matches your goals, your age, your risk tolerance, and
the world we live in right now. And Chris I
can tell you every time we meet with the client
the answer is no. And to me, you know it's
(31:05):
it's because here's the truth. What worked five years ago,
three years ago, and even last year might be completely
different for you today. Like we say, markets change, interest
rates shift, tax laws move. We all know that your
life evolves, but most people let their investments sit untouched,
drifting slowly weakening over time. Enter the portfolio checkup zone.
Speaker 4 (31:27):
That's what it is.
Speaker 3 (31:28):
You know, we all need a checkup each and every
once in a while, right because a portfolio checkup isn't
a luxury, it's a necessity. It's how you uncover hidden risks,
outdated allocations, unnecessary fees. What are the fees you're pain
in your account? What about lost opportunities that could be
costing you real money each and every year, But what
are you doing about it?
Speaker 2 (31:46):
Because you just don't know.
Speaker 4 (31:47):
Right.
Speaker 3 (31:47):
That's why it's so important to get a checkup, because
let's take a look inside the process of diagnosing your
portfolio the way a financial surgeon would. Because once you
see what a true portfolio checkup reveals, you'll never look
at your accounts the same way again. And that goes
for everything.
Speaker 2 (32:02):
Right.
Speaker 3 (32:03):
Once you koow about something, you know something, you look
at it a different way. If peace of mind, clarity
and confidence matter to you. And stay right here because
that's what we're talking about now when jump onto this segment,
because it's so important to have the necessary checkup that
you need and we can help you. It's is you're
never too old or you can't go back to your
(32:24):
current advisor. Get a second opinion. Let's get a second opinion.
Let's look at what you have. Let's look at the
tax side. If they're not looking at your tax return,
you might want to think about another advisor. So a
three to three Maggie tax.
Speaker 4 (32:35):
So let's talk.
Speaker 2 (32:35):
About four powerful bullets. If you have a pan of paper,
write them down. We just call it a simple portfolio
checkup because most portfolios are outdated and miss aligned because
you don't get a review that often. Markets move fast
and if your strategy hasn't kept up, you're likely taking
too much risk or earning too little return. And that's
the comments we get all the time. My account is
(32:56):
not performing, I'm not making enough interest and blah blah
blah goes on on. What about the fees and insufficiencies
silently draining your wealth so you could be losing thousands
per year without even realizing it. And Chris as a
checkup if you don't look even every quarter, at least
get you know, someone to look at your account to
make sure because you don't know what happens and every
day things change, right.
Speaker 4 (33:17):
Well, that's it.
Speaker 3 (33:17):
I mean, you know you are you being paying fees
on transactions? Are are you paying fees on commissions? Are
you what do you built? What's your portfolio built on?
That's what you want to know, And when you come
to meet with us as a fiduciary, we're going to
explain that to you. You know everything we do, you
have to know it first. You have to sign off
on it first. I mean, that's honesty, right, that's just
(33:38):
clear communication. You deserve that. I don't care if you
have ten thousand or ten million, it doesn't matter. The
fact of the matter is that you need clarity and
confidence and transparency. So we can show you that. What
about small changes they create big lift. What do I
mean by that? Well, a simple reallocation or tax smart
adjustments can dramatically improve performance and also reduce the risk.
(34:02):
You know, many people don't look at their form. One case,
they about ten years ago when they signed up for
it and it's still in the same allocation they are today.
That's not what you need to do, because small changes
each and every year or quarter can make a big
lift on those accounts, especially if you're contributing to it.
You're feeding them, you're doing something about it. So these
are just three important things that you should re do.
(34:23):
What about the last one?
Speaker 2 (34:24):
Oh, this one to me is most important to a
lot of people out there. A professional review listen carefully
exposes what software and statements can't and what you understand
with AI out there and all these other things. You
believe me, I've seen it so many times. Chris has
seen it so many times you may have problems and
you don't know about it, but you know, real analysis
(34:45):
reveals hidden dangers and missed opportunities. Algorithms never catch and
this is a big thing, Chris. They think everything's fine,
and it's not fine.
Speaker 3 (34:52):
Well just give an example. Like some of the data
and technology these days. I mean, they can analyze the stocks,
the ETFs, so different funds, all the different investments, very
very quickly. And that's just just AMMO for you because
you might it might take days or weeks for some
advisors that put this together in an analysis, where it
could take five to ten minutes. And when you do that,
(35:13):
you can you can pinpoint and move in a different
direction if needed. That's why it's so important that you
don't just look at statements because sometimes there's so many
positions on a statement you don't know what that means.
You're buying a stock here or an ETF there, or
what are you doing with it? So that's why it's
so important to meet with us. A three to three
Maggie tax is if you've been listening to the show
(35:34):
and even the slightest part of you is wondering, is
my portfolio really set up? The way it should be.
Then that's the question alone is a signal. It's a signal.
It's what you should do to pick up the phone
and schedule time to meet with us a three to
three MAGI tax.
Speaker 2 (35:48):
Because the people who get ahead financially, they aren't the
ones with perfect timing or inside information or a crystal ball.
You all know that they are the ones who take
action when they know so something needs attention. Why do
we say that because you should set up a review.
You have nothing to lose. Okay, set up a review
just for peace of mind. And maybe there are things
(36:08):
that we can show you that might help you talk
about taxes, income planning, investment planning, legacy planning. I can
tell you right now how many people out there don't
have a will or a trust package? How important is
that for your retirement for when something happens to you?
And I have to tell you know, we do fourth
seminars a month at libraries on a state planning. If
(36:29):
you need to come to them, go to my website
Maggie tax dot com and you can see where they
are and register for one call. Now, your future depends
on the decisions you make today. Call a three three
Maggie Tax, or visit our website, Maggie Tax dot com.
Just remember the decision is yours. Are you curious or
are you serious? We covered a lot of information on
today's show, and if you missed any of it, visit
(36:49):
our website, Maggie Tax dot com. Click on the media
tab and listen anytime, or visit us on any of
the social media platforms to catch up. And before we
go next week, we'll be talking about will I Live
My Money? And you don't want to miss it A
through three Maggie Tax.
Speaker 1 (37:05):
Thank you for listening to Maggie Tax and Financial Show
with Robert and Chris Maggie of Maggie Tax Wealth Advisors.
Listen here five to six pm every Saturday and from
eleven am till noon every Sunday, or anytime on the
free iHeartRadio app. And remember you can pay less tax
with Maggie Tax Program. Content provided by Maggie Tax Wealth
(37:26):
and Advisors. Call them at eight three three Maggie Tax,
or visit them online at Maggietax dot com
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