Episode 20260606 - Income and Investment Planning and Checkup

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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 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 nest 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):
Welcome to another powerful episode of The Maggie Tax and
Wealth Adviser Show, and thanks for joining us today. My
name is Robert Maggie and I'm here with my son
Chris Maggie where we don't just talk about retirement. We
build it, we protect it, and we help you make
the most of the years that you've worked so hard for.

Speaker 3 (00:57):
And today's show is packed.

Speaker 2 (00:58):
We're diving into four pillars of a successful retirement that
most people never get right. Oh they take it, they
wait too long, and the right consequence of missing even
one of these can be devastating. So Chris, let's get started,
because here's what we're going to cover today. Go over
what we're going to cover today, because, by the way,
a lot of people have questions. Give us a call
at eighty three to three Maggie Tax. Be sure to

(01:20):
visit our website Maggie Tax dot com. And every Sunday
on ABC at ten thirty, tune into the Maggie Tax
and Financial Show.

Speaker 4 (01:27):
Yeah, I'm Chris Maggie. Thank you so much for tuning in,
and he's in every week. We're so glad to be
here because there's so much to talk about. Education is
so important and so valuable and if you're educated on
what you can do, then you can make the right
decisions for your retirement. So what are we going to
cover today? Well, first, income planning during retirement, how to
build a paycheck that lasts as long as you do.

(01:49):
We're also going to talk about wealth planning. You know
how to coordinate your investments, your taxes, income, and also
legacy so everything works together. And also third O third
segment today, we're going to talk about paycheck and play checks. Yeah,
I said it, paychecks and playchecks. What's that? Well, a
system that helps retirees enjoy their money without the fear
of running it out and spending on whatever they want.

(02:11):
And also, finally, rothology. This is really really a special,
special word that we love to talk about because it's
a proven strategy for turning taxable money into tax free
income forever and diffusing the IRS time bomb that's hidden
inside your IRA.

Speaker 2 (02:29):
And one thing that you need to understand and don't
be afraid to ask, ask about a raw conversion because
right now people are concerned about tax free money and
how to do it. Yes, you have to pay taxes,
but let us show you how what Chris mentioned rothology works.
We do this all the time, but it's important. So
if you have any questions, pick up the phone call
eight three to three Maggie Tax and throughout today's show,

(02:50):
we're going to be talking about a lot of that.
So again, unless you ask, and unless you find out
the right answer, you're probably going to do it wrong.
So this is the kind of information that most people
never hear until it's too late. But you don't have
to be one of them. That's why we do the show.
So if you're listening right now and you've been meaning
to get your retirement planned reviewed, now's your opportunity. Or

(03:12):
you're wondering if you're doing the right thing. Maybe you
need a review, that's what we can help you with.
Or you just want clarity and confidence. This is your
moment to act. Eight three to three Maggie Tax. Visit
our website Maggie Tax dot com, and again be sure
to visit our and watch our show tomorrow on ABC
TV at ten thirty.

Speaker 4 (03:30):
So set your appointment to come in and meet with us,
because when you come in, we're going to sit down
and we're going to analyze a lot of different areas
from your taxes, from your investments, and also we're going
to talk about during this segment the income planning during retirement.
And this is where we're starting today and what I
believe is the most simple and also single most important
question in retirement. How do you replace the paycheck? How

(03:52):
do you replace the paycheck? Many people are sitting home
today thinking how do I do that? Can I retire?
You know what does that look like? Well, we retire
every day. You know, many people just retire once, but
we retire each and every day because think about it,
for thirty, forty, maybe even fifty years of your life
has been built around a steady check. Each and every

(04:13):
two weeks. You planned around it, you lived on with it,
you depended on it, and then suddenly, one day, guess what,
it just stops. So what do you do? You try
to plan for it. Well, the builds don't stop, inflation
doesn't stop, taxes don't stop, your lifestyle doesn't want to stop,
but the paycheck does. And that's why income planning is

(04:33):
not optional. It's survival, it's confidence, it's freedom. So without
a written income strategy, retirement becomes a guessing game, and
guesswork is where fear lives. So when we're talking about
income planning, Dad, so many people come in and they say,
I want to retire, but they got no plan. And
that's why they come to us because we can show
them what their income plan looks like so they don't

(04:56):
have to worry about the paycheck.

Speaker 2 (04:58):
Well, what are the things when you mentioned we see
it every day, is that people come in with piles
of money. What they have is piles of money, but
don't have income buckets or you know buckets that's going
to give them the guaranteed income that they need for
the rest of their life. And the truth is, you know, Chris,
people don't sit down with an advisor. And one of
the things that we do as well, we do tax planning.
And right now we're in tax season, so remember we

(05:20):
do tax preparation. Give us a call it eight three
to three, Maggie tax. We take drop offs in our
office in Saint Pete, our new office in Oldsmar, and
our office in Loots, Florida.

Speaker 3 (05:29):
So one of the things that you.

Speaker 2 (05:31):
Should be doing and you can be doing when you
get your taxes done, is have the preparer or your
CPA do an income plan for you and a tax
plan because what Chris mentioned before about you know, paychecks
and play checks because one other thing. If you spend
too much money, then you're not going to have enough
to live on. So these are things that are critical.
These are the things that we do and we focus on.

(05:53):
But you must have multiple income streams working together. And
if no one has sat down with you and explained
that to you, we're giving you an opportunity. Give us
a call eight three to three. Maggie tax Because a
proper retirement income plan it blends with social security, with
your pension portfolio, withdrawals, wroth income dividends, and guaranteed income

(06:13):
sources into one coordinated strategy. So the goal is simple,
stable income every month, regardless of what the market is doing.

Speaker 4 (06:21):
So that's just it. You know, when you start thinking
about paychecks and playchecks and retirement income planning and income
planning during retirement, you must have multiple income streams working together.
And there's no rule that says you can have a
number of paychecks coming in each and every month and
think of it this way. You have your Social Security,
possibly you have your pension, but what if you can

(06:43):
create your own family pension or pensions where you never
outlive your money and there's just more income coming in
the front door each and every month. So that's what
we're talking about today. But also inflation. What about inflation?
Taxes and longevity require income that grows over time, So
your expenses will rise, taxes may rise, healthcare will rise,

(07:04):
the cost of living will rise. And that's why a
retirement income plaint cannot be flat. It must be built
to adjust, to adapt, and to grow. So your lifestyle
never shrinks, So pick up the phone and schedule time
to meet with us. Eight three three Maggie Tax. You
know when you visit our website, Maggie tax dot com,
there's so much information right there. But what would you
advise people thinking out there today at home, driving whatever

(07:27):
it is. Retirement's on their mind. So what's the easiest
way for them to get a clear picture on what
that retirement income can look like during retirement.

Speaker 2 (07:37):
Well, there's a lot of things that are basically included.
But what plan that you need to help understand? And
I'll tell you what we're asking. Do you have an
income plan? Do you have a tax plan? Do you
have an insurance plan? We talk about ensuring your IRA
so that you don't have to pay a large tax
when you take the money out.

Speaker 3 (07:54):
What about investment planning?

Speaker 2 (07:56):
How many of you are looking at it from an
investment side where you reduce the risk so you have
more for yourself. And this is the big one, the
ROTH IRA planning. Today you can convert to a ROTH
have tax free money. And the question I ask all
of you is what bucket do you have that's tax free?

Speaker 3 (08:13):
What about estate planning?

Speaker 2 (08:15):
People are short on wills and trust, you know, and
understanding the retirement and that the estate planning when something
happens to you. What about social security planning? This is
a big one. People are confused Chris out there that
you know, when do I take social security?

Speaker 3 (08:31):
Do I take it too soon? You know?

Speaker 2 (08:32):
We talk about this on every show and it's a
concern because what we talked about before, in income planning,
solid security, pension, everything is included. So this is what
they need to be thinking about, Chris. It's not just
one size fits all.

Speaker 4 (08:46):
That's it. So build a paycheck that lasts as long
as you do. And how do you do that? It's
simply you think of the phone schedule time to meet
with us. Eight three three, Maggie Tax, Come and visit us.
We have ovis on both sides of the bay. We
have an obviice in oldsmar brand new office right there,
Loots and also in Saint Pete's. So pick up the
phone schedule unappointment now eight three three, Maggie Tax and

(09:07):
when you come in to meet with us, we're going
to sit down and have a conversation with you and
we're going to talk about budget planning. We're going to
talk about income planning. We're going to talk about you know,
what do you need each and every month to cover
your expenses. Then we'll also adjust for inflation, and we
talked about the different rising costs in the future. What
do those look like. Well, when you put together retirement

(09:27):
plan and you create your own buckets with investments, you
can have income streams coming to you forever and ever
and ever. And that's why we're talking about paychecks as well,
which were going to get to you later on in
the show, But pick up the phone schedule time to
meet with us. On our website Maggie tax dot com,
there's a button right there called the Retirement Tax Bill
and this is one of the things that you can

(09:47):
do to discover how much tax you're going to pay
in retirement, which is going to affect your what income
income during retirement. So get a plan now. We call
it the Maggi Plan. It's income planning, tax planning, investment planning,
social security planning, medicare planning. That's what we do to
help you.

Speaker 2 (10:08):
You also talked about the most important thing education. We
are part of a five oh one C three speakers Bureau.
We do four seminars a month in different locations around
Penelos and Hillsboro. Why, because we want to educate you
and we do these libraries. You can see it on
our website. You can register for those. They're about forty
five minutes to an hour. But we talk about taxes,

(10:29):
we talk about retirement planning, we talk about a state planning.
We get so many questions out there about do I
need a will, do I need a power of attorney?
Do I need a trust? This is all part of retirement, Chris,
and this is where many people that come in and
see us then missing these pieces of the puzzle. And
when we sit down with you and we ask you
these questions, the question we get, well, yeah, I've been

(10:50):
thinking about it, but I just haven't done it. Look,
procrastination is not a retirement plan.

Speaker 4 (10:57):
Would you agree with that? Absolutely? So people have excuses
all day and at the end of the day, this
is your money, your future. Don't have the excuse. If
you don't have a written income plan, then you do
not have a retirement plan. It's period. That's it as
simple is that. And the worst time to discover that
is after you retire. That's when you get crushed and
people just fall victim to running out of money. So

(11:21):
right now, before life throws you curveballs, before the market
shifts again, before another year passes without a plan. This
is the moment, this is the moment, right now to
take action. Pick up the phone, schedule time to meet
with us. Call mag Attacks and Wealth Advisors right now.
Let's schedule your complimentary retirement income blueprint. This blueprint today
will show you exactly how long your money will last,

(11:42):
where your income will come from, and how to make
sure that you never run out of your paychecks and
also have playchecks. So don't guess, don't worry, don't hope.
Pick up the phone now, call us and get the
confidence that you deserve. Eight three to three Magi tacks.
That's eight three three Maggie Tax.

Speaker 1 (12:05):
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

(12:27):
host with Maggie Tax and Wealth Advisors Robert and Chris Maggie.

Speaker 4 (12:32):
All right, welcome back to the Maggie Tax and Wealth
Advisors Show. In the first segment, we talked about rothology
doing your tax planning the right way. Now is the
time the shift gears into something just as important, maybe
it's even more important. We're talking about income planning. But
before we do that, visit our website at Maggie tax
dot com. Pick up the phone, schedule time to meet
with us eight three three Maggie Tax. We do complete planning,

(12:55):
income planning, tax planning, investment planning, estate planning, see planning,
social Security maximization planning, Medicare planning. Do you have questions
about any of these topics. Absolutely, we'll pick up the phone,
schedule a time to meet with us. Eight three to
three Magi tacks.

Speaker 2 (13:10):
And let's be honest, Investment planning today is not what
it used to be ten years ago.

Speaker 3 (13:14):
It's changed. The markets move faster, the risks.

Speaker 2 (13:17):
Are different, the tools are different, and the old set
it and forget approach that doesn't work anymore because you
have to sit down, answer your questions that people have
and you should be able to get all the answers
that you want and The number one mistake that we
see retireets make is this they think owning investments is
the same as having an investment plan, and that's not true.

Speaker 3 (13:38):
It's not Chris right.

Speaker 4 (13:39):
Absolutely. You know, we do analyze a lot of investment
accounts out there, and we have a great team that
fill off CPAs and cfps, financial planners and analysis that
review everything on a regular basis, and it's amazing. What
we see is that many people just have piles of money.
They just have investment accounts and they're buying the stock
here and they're sitting on it and they're not doing

(14:01):
any investment planning. And that's why we're reaching out to
everyone today because do you have an investment plan? And
if you don't, then you need to get one. And
as we talked about here, the number one mistake we
see retirees make is that they think owning investments is
the same as just having an investment plan.

Speaker 3 (14:18):
Is not.

Speaker 4 (14:19):
Anyone can buy a fund, anyone can click a button,
but very few people have an actual strategy, a blueprint
that aligns their risk, their income needs, their tax exposure,
market cycles, and long term goals all in one. And
that's why when you come meet with us Maggie, tax
advisory and wealth advisors. We can help you put together

(14:39):
an investment plan. So in this segment we're cutting through
the noise. We want to talk about what real investment
planning looks like, how to protect your money, how to
grow it with a purpose and stay ahead of the
surprises that take so many families off course. And dad,
let's talk about that. How many families do we see
that have retired that they think they have a plan,

(15:01):
but guess what their investment plans running off course?

Speaker 2 (15:05):
Well, that's because they were taught, like I said before,
the old fashioned way, and they never were taught to
look into a full, complete plan like you talked about
investment planning, income planning, social security planning. They just talked
about a fund or a stock and that's not complete planning.
So if you've ever wanted and I invested the right
way for where I am right now, you're in the

(15:26):
right place. But let's get into it because what you
have to do, because you mentioned it, how many people
do you see that when you look at their portfolio
and you ask them, do you know what stock you have?
Do you know what mutual fund you have? Do you
know what risk you have and what's the common answer
we get.

Speaker 4 (15:40):
I don't know. I think my advisors taken care of it.
And then when we take off the hood, guess what
we see. There's no active management. They've had the account
positions for the same positions for years, you know, every
time they meet with their advisor. Maybe if they do
then they change it. But guess what, that's not active planning.
So the big thing that we see is risk alignment.
Risk alignment, well, are you invested for the stage of

(16:03):
your life you're in or are you the one who've
ready passed it?

Speaker 3 (16:07):
You know?

Speaker 4 (16:08):
And then that's the question that we have. And most
people's portfolios are built for accumulation, not preservation or income,
and the risk they took in their forties and fifties
can be devastating in their sixties and seventies. So that's
why investment planning starts with matching your risk to your goals,
not to the market's mood. And think about this. How
many people come in and we ask them to do

(16:28):
a what color of money report? We ask them to
do the analysis to figure out what type of risk
they want and how easy is that to fill out?

Speaker 2 (16:37):
It's easy and when we do it, it's simple and
they sit back and they go, boy, that's the easiest way.
Now I understand what my risk is because you do
these portfolios comparisons all the time, and most of the
time they're in more risk than they thought they were.

Speaker 4 (16:51):
So let me explain here. Think of it this way, ABC,
D and E. If you're an A investor, well you're
more conservative. If you're an E investor, you're aggressive. But
if you're a C, you're basically in the middle. So
many people come in and we analyze their accounts and
they're somewhere invested in a D portfolio, which is a
moderate growth. But then when we do the questions and

(17:14):
we sit there and talk to them, they really want
to be in a B portfolio. They want to have preservation,
they want to have income. But guess what, they're invested
in the D portfolio. So they're taking too much risk
with their money. So we asked them the question, when's
the last time you had this analyzed? And they say, well,
I've been with my advisor for fifteen years. Meanwhile, the
same advisor is investing and managing the money the same

(17:36):
with risk now fifteen years later than they had before
you got older.

Speaker 3 (17:40):
Things changed. Come on. This is like, you know, no
brainder to me. But the point is this what you
just said.

Speaker 2 (17:45):
I don't know if it's the advisor fault or if
it's your fault because you don't take the time to say, look,
let's do this again. Let's you know, analyze my risk
because things have changed. The market's changed, you know, the
economy has changed. Everything's changed. So this is important to
Chris and I when we do this at Maggie Tax
and Wealth Advice is because sit down with us, sit
down with us, and let's just do a risk analysis.

(18:05):
And there's another thing that we talk about, the sequence
of returns protection, safeguarding your retirement from the wrong market
at the wrong time. So your biggest risk in retirement
is not average returns, it's taking which rolls while markets
are down. Without a plan to protect against sequence of
returns risk, a portfolio can fall even with the good
long term performance. So proper planning puts guard rails in place.

(18:29):
And this is where we see a lot of people
don't understand what a guard rail is.

Speaker 4 (18:33):
Well, that's it. You have to have protection, and there
are accounts out there that you can have protection on
the downside and make money if the market is down
on the downside. A lot of great things part of
having an investment plan, and the other really unique feature
with investment planning is a purpose driven investing. Every dollar
needs a job, whether it's growth, income, safety, liquidity. A
real plan assigns each part of your portfolio with a

(18:55):
clear purpose. We talk about purpose planning. Not everything should
be chasing growth, everything should be conservative. True investment planning
is about balance with intention, having the right money in
the right buckets at the right time. So pick up
the phone schedule time to meet with us. We can
help you eight three to three Magi Tax.

Speaker 2 (19:12):
So if you're listening right now and you don't have
a written investment plan, if you're not sure your risk
matches the stage of life here in which we talked about,
or if you simply want a second opinion to make
sure that your portfolio is built to last, now is
the time to pick up the phone eight three to
three Magi Tax. Schedule your complementary investment strategy review today.

(19:33):
Visit our website Maggi tax dot com, and we'll show
you where you're strong, where you're exposed, and exactly what
needs to be adjusted in plain, simple English, no pressure,
no jargon, just real answers.

Speaker 3 (19:45):
Your money worked hard for you your entire life.

Speaker 2 (19:48):
Now it's time to make sure that it works for
you just as hard in retirement. Call us right now
eight three to three Magi Tax, and your future self
will thank you.

Speaker 1 (20:01):
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

(20:23):
host with Maggie Tax and Wealth Advisors, Robert and Chris Maggie.

Speaker 3 (20:28):
Welcome back.

Speaker 2 (20:28):
And one thing I want to say is don't wait
for a surprise tax bill. Take control now and give
us a call at eight three to three Maggie Tax.
Because just like every December thirty, first the ball drops
in times square, But what about the big drop in
the market or taxes? Are you celebrating that too, So
don't let that happen to you. So the thing is,
I can't afford a big drop now protecting savings from

(20:50):
market volatility. How are you doing that? Are you talking
to the right people? So let's shift gears for a minute,
because if you're within ten years of retiremental already retired,
you probably said this at least once, I can't afford
a big drop. Now nobody can really, I don't care
what time if it is, And you're right. When you're working,
market dips are annoying. When you're retired, they can be devastating.

(21:13):
Why because you're withdrawing money at the same time your
account is falling. Chris talked about that before. That's called
sequence of return risk, and it can drain a portfolio
shockingly fast. So you don't look at that, you don't
see this. So in this segment, we're going to explore
how to reduce exposure to big swings, Why set it
and forget it doesn't work in retirement, and how to

(21:37):
build a plan that protects your lifestyle even when the
market miss shaves and volatility is normal, so losing sleep
over it doesn't have to be.

Speaker 4 (21:45):
Well as I said, So if you're thinking out there,
what happens if a big drop happens, and what are
you going to do about it. Are you going to
react or are you going to put yourself in position
to ready have control and flexibility. That's what we're talking
about today. So if you're out there and you don't
have a plan, think about your investments. Do they have
a purpose or what kind of risk are you taking

(22:07):
with your money? You know, many people come in and
we do a risk assessment and sometimes we see people
taking an aggressive stance. Think of it this way, ABC
D and E A is very conservative. He is very aggressive,
so he's in the middle. Some people are taking a
D type of risk. When we start asking them questions,
they might want to be in a B portfolio, so

(22:29):
it might be vice versa. So where are you do
you know? And maybe five years ago you did something
like this, but what about today? Things might have changed.
So that's why it's so important to meet with us
because we can educate you on what you currently have
and then moving forward, we look together a plan where
you have an investment plan.

Speaker 2 (22:46):
Well, you said something five years ago, it may have
been okay. And that's the problem I think that many
people don't do. They don't check their risk analysis and
how it changed. And every time we talk to our
clients five years, ten years, or whatever. We're always doing
a risk analysis because it could change. And don't you
think that's important to a lot of people. I do,
because your life style changes. Even in retirement, you can

(23:07):
invest like you're a twenty six year old if you
invest the right way with the buckets. That's why bucket
planning is so important. Do you put all your money
and invested like a twenty six year old? No, but
there's nothing wrong with taking that risk with some of
your money if you put together a bucket plan. And
my question to you out there listening today, do you
have a bucket plan? Do you have a strategy? Do

(23:27):
you have an investment plan? Because most people out there
just have piles of money. They got a statement here,
they have a brokerage account there, they got an investment
over here. Meanwhile, do you know if it's taxable? Do
you know if it's tax free? Do you know if
you take it there will be gains on that portfolio?
Do you know do you know what type of risk
you're currently taking? Well, these are things that we talk
about each and every day, and you need to know.

(23:49):
That's why we put together a balance sheet for you.
We'll educate you we'll show you when you come in
and meet with us. So eight three three Magi tax,
schedule time to meet with us. We have office on
both sides of the day to help you. Eight three
to three Maggie Tax. And volatility becomes more dangerous once
you start with drawing money, even if the market eventually recovers,
because you don't know if it's going to recover. Most
people don't realize that taking income during a downturn lock

(24:12):
in their losses in a way that's hard to bounce
back from. And it's always you know, well it's gone down,
but it's going to come back. And we've all heard
the market's doing great, but maybe you should take a
look at and when the market is doing great, okay,
and start, you know, having a review. This is called
sequence of returns, and it's one of the biggest threats
Chris to retirement security. That we see the market might recover,

(24:34):
you know, but your portfolio may not. Knowing how to
manage the risk can make the difference between a confident
retirement and a stressful one. And again, if you're not
meeting with your advisor, and you're not meeting with them
to go over this, we are so pick up the phone.

Speaker 3 (24:48):
Give us a call eight three to three, Maggie tacks.

Speaker 2 (24:50):
Let us do a risk analysis, a tax analysis, an
income analysis, and it goes on and on, because Chris,
they need peace of mind, they need some security, and
they need some guarantee.

Speaker 4 (25:00):
Well, the worst fear is that you're cruising along in retirement.
You know, just picture this right. You got your pension,
you got social Security coming in, you got income coming in,
you're taking income from investments, and you think everything is
on cruise control. And then guess what. Something happens, whether
it's war, whether it's a threat, whether it's a big
market volatility drop, whatever it is. We've all been through.

(25:22):
We've seen the past years on what has transpired. But
what if the market goes down fifteen, twenty, thirty forty percent?
What do you do think about that? Your lifestyle changes.
People start hunking down and they say, well, I can't
spend any money. I can't do it because I'm going
to outlive my money. Because you have no investment plan.
You don't have a plan to stomach the losses and

(25:43):
also plans to make sure that you don't have to
stomach the loss if you don't want to. So every
portfolio is not the same. Your neighbor doesn't have to
invest the way you do. They don't know your situation.
And that's why we see so many advisors out there.
They have cookie cut or portfolios. And then with that
means is that it's the same for you as your neighbors,
as your family member, as your cousin, and it goes

(26:06):
on and on as your friend. That's not an investment plan.
You have to make sure that you have bucket planning
with safety, with some green money, some yellow money, maybe
even some red money. And that's why it's so important
to pick up the phone, schedule time to meet with us.
Get an investment plan. Now eight three to three Maggie tax.
That's eight three to three, Maggie tax.

Speaker 3 (26:25):
Chris is stealing my thunder. I have I have something
to say about that.

Speaker 4 (26:27):
Jump then let's go.

Speaker 2 (26:31):
Because you don't have to choose between what Chris mentioned before,
growth and safety. You just need the right balance. And
one of the things that we do is called the
color of money. And let's just give you something simple.
Say you're sixty years old, and this is just an
example to help you out. So sixty percent of your
money should be in risk or some type of risk,
and the other balance should be maybe.

Speaker 3 (26:51):
In save money.

Speaker 2 (26:52):
But as you get older, that should change. That shift
should change because protecting your saving doesn't mean abandoning growth.

Speaker 4 (27:00):
That's what I'm saying to you. Like, even if you're
seventy years old, doesn't mean you have to hunker down
and put all your money in safety. That's not what
we're saying. If your income is taken care of and
you're fine, you can invest your money like a forty
year old, right, But what if you depend on those
assets that you have and you need income from it.
Now the mindset shifts. You have to have a different

(27:21):
investment plan to make sure that you preserve your money.
Maybe there's strategies out there that you can create your
own guaranteed pension plan. Many people have worked for a
company for twenty thirty years. But you don't have to
have a pension plan to do so. You can create
a pile of money now today, make a green money
where it's safe, and generate a guaranteed income stream for life.

(27:42):
What if those three income streams coming in the front
door every month and you don't have to worry about
your investments then you can invest differently. That's what we're
talking about here. So pick up the phone, schedule time
to meet with us, because you need to know what
your options are and we can help you. Eight three three,
Maggie Tacks.

Speaker 2 (27:57):
You know, I'm thinking here about quite a few clients,
but one in particular. Husband and wife come in and
they had a million dollars and he's pretty much in risk.
And she didn't know she was in risk until we
did the color of Money report and we explained to her,
you're all in red money, and she says, well, I
don't want to be in red money, and we ask her,
what do you want to be in?

Speaker 3 (28:16):
You got to tell us.

Speaker 2 (28:17):
And then when she started to sit down and relax
a little bit, she said to Chris, well, heck, I'm
sixty years old.

Speaker 3 (28:22):
Why am one hundred percent in red money?

Speaker 2 (28:24):
And that was what we're trying to get through to you,
because protecting your saving doesn't mean abandoning growth. And there
are portfolios that Chris can discuss with you that have growth,
have better growth than some of your portfolios. Now, So
what it means, it means being intentional about how much
risk you take and where you take it.

Speaker 4 (28:42):
And that's not only just intention with the risk. Also
to invest with a purpose. What if you had different
buckets of money with a different purpose, not just the
same allocations. That's a plan that feels good, doesn't it.

Speaker 2 (28:55):
Yeah, But people don't it sit down and do that
all the time. They just wait till the envelope comes
in and then they look at it. To me, that's
not the word way to go. So what we're saying
here is with the right mix of protected strategies and
growth oriented investments, you can reduce the impact of down
terms while still giving your money room to grow. And
that's exactly what you want to do. This is where

(29:16):
smart planning replaces guesswork. So a personalized protection strategy can
help you stay on track no matter what the market
does next. Chris and markets will rise and markets will fall,
we all know that, but your retirement shouldn't swing with them.
A tail and plan can help shield your savings from
major losses and stabilize your income. That's what it's all about,

(29:36):
and give you confidence even in unpredictable times. I get
tired of hearing people say, well, I lost sleep because
the market went down yesterday, and the question I asked them, well,
what are you going to do about it? And they
look at me like what can I do about it?
What can you do is get a personalized protection strategy.

Speaker 4 (29:52):
There you go, and that's why it's so easy, just
because the phone, schedule time to meet with us. Because
you want to work with a complete planner. You want
to work with someone who understands income planning, tax planning,
investment planning, you know, legacy planning, so security maximization planning.
This is the complete plan for you. Why do you
just want to work with someone who just deals with investments.
You don't even need an investment advisor these days, just

(30:14):
manage the money yourself. You know, a lot of things
are going on, but what's important is that you have
a plan. You know, as my dad mentioned before, with
the right mix of protective strategies and growth oriented investments,
you can reduce the impact of downturns while still giving
you money room to grow. This is where smart planning
replaces the guest work. So that's why my dad mentioned.

(30:34):
Markets will rise, markets will fall, but your retirement shouldn't
swing with them. Listen up. You know, a tailored plan
can help shield your savings from major losses. They can
stabilize your income and give you the confidence even in
unpredictable times. Who wants to go through the not having
confidence or unpredictable times where they lose income. No one

(30:55):
wants to do that, especially when they're retired. So when
listeners start to understan that they can protect themselves and
that it starts with a conversation, they're far more likely
to take action. Dad, So simply pick up the phone,
schedule time to meet with us eight three to three Magi.

Speaker 2 (31:11):
Tacks, and simply don't leave your future to chance. Take
control while you still can before something happens, and pick
up the phone. Schedule time to meet with us eight
three to three Magi Tax or online at Maggi tax
dot com. There's so much information there. How often are
you checking the balance in your portfolio? Do you ever
ask yourself if you have enough money so that you

(31:31):
don't outlive your retirement. That's what we're talking about here,
So let's tackle that on the other side of the break.
We've talked about so much today, but make sure you
give us a call eight three to three Maggie Tax.
Let's put a plan together, get an appointment and have
a conversation that you won't have these problems.

Speaker 3 (31:47):
Eight three to three Magi Tax.

Speaker 2 (31:49):
You're listened to the Magi Tax and Financial Show.

Speaker 1 (31:56):
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

(32:18):
host with Maggie Tax and Wealth Advisors, Robert and Chris Maggie.

Speaker 2 (32:22):
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 talk
about it. 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,

(32:43):
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.

Speaker 3 (32:50):
So let me ask you a simple question.

Speaker 2 (32:53):
When was the last time someone actually sat down and
examined your investments in which we've been talking about, not
land static, you mean when when you 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

(33:15):
with the client the answer is no. And to me,
you know it's 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.

Speaker 3 (33:40):
Enter the portfolio checkup zone.

Speaker 4 (33:42):
That's what it is. 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 are pain in your account? What about
lost opportunities that could be costing you real money each
and every year. But what do you doing about it?
Because you just don't know.

Speaker 3 (34:01):
Right.

Speaker 4 (34:02):
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. Right. Once you koow about something, you know something,
you look at it a different way. If peace of mind,

(34:23):
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 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

(34:44):
your tax return, you might want to think about another advisor.
So a three to three Maggie tax. So let's talk
about four powerful bullets. If you have a pan of paper,
write them down.

Speaker 2 (34:53):
We just call it a simple portfolio checkup, because most
portfolios are outdated and miss aligned because you don't get
to 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 not performing, I'm
not making enough interest and blah blah blah goes on.

(35:14):
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 check up, 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 (35:31):
Well, that's it. I mean, you know you are you
being paying fees on transactions? Are you? 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 me 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,

(35:52):
that's just 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.

(36:16):
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 be doing.

(36:38):
What about the last one?

Speaker 2 (36:38):
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

(36:59):
reveals hidden, dangerous and missed opportunities. Algorithms never catch. And
this is a big thing, Chris. They think everything's fine,
and it's not fine. Well just give an example. Like
some of the data and technology these days, I mean,
they can analyze the stocks, the ETFs, the different funds,
all the different investments very very quickly. And that's just
just AMMO for you because you might might take days

(37:22):
or weeks for some advisors to put this together in
an analysis where it could take five to ten minutes. And
when you do that, 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

(37:44):
it's so important to meet with us A three three
Maggie tax is if you've been listening to this show
and even the slightest part of you is wondering, is
my portfolio really set up the way it should be?

Speaker 4 (37:53):
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. Eight three three
Maggie Tax.

Speaker 2 (38:02):
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 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 that

(38:23):
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 for your retirement, for when something happens to you?
And I have to tell you you know, we do
four seminars a month at libraries on a state planning.

(38:43):
If 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
to three Maggie Tax. Well visit our website Maggie Tax
dot com. Just remember the decision is yours. Are you
curious or are you s We covered a lot of
information on today's show, and if you missed any of it,

(39:03):
visit 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
outlive my money?

Speaker 3 (39:15):
And you don't want to miss it. A three three
Maggie Tax.

Speaker 1 (39:20):
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

(39:41):
and Advisors. Call them at eight three three Maggie Tax
or visit them online at Maggietax dot com