June 17, 2026 • 38 mins
See omnystudio.com/listener for privacy information.
Listen
Watch
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
All these years you've saved up planning for 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 the Maggie Tax and Wealth Advisors Show. And
this is the program where common sense planning meets real
world retirement success. Welcome everyone, I'm Chris Maggan, I'm here
and my dad and coast of the show Robert Maggie
and feel fear to visit our website, Maggie Tax dot Com.
So much information right there at your fingertips eight three
three Maggie Tax. Pick up the own schedule time to
(01:01):
meet with us. We have office on both sides of
the bay. So whether you're driving, you're cooking, you walking
the dog, or even maybe you're hiding from the bills
or maybe hiding from doing your taxes, don't worry. You're
in the right place. This is the show where we
take the complicated, confusing world of taxes and retirement and
we break it down so clearly that even your cousin
Eddie could understand it. So welcome everyone. I'm Chris Maggie,
(01:22):
and I welcome my dad Coast of the show, Robert Maggie.
Speaker 3 (01:25):
Welcome everyone, and thanks for joining us today. And I'm
here with my son Chris, and I am Robert Maggie.
Speaker 4 (01:30):
So today we have a lot that we're going to
talk about.
Speaker 3 (01:33):
We've got a powerhouse of a show lined up, so
get some paper and pencil and start taking notes. There's
a lot of good things here because like it or not,
the financial landscape is shifting underneath us, and slowly for
some of us and very quickly for others.
Speaker 2 (01:47):
We're entering a moment where timing matters, strategy matters, and yes,
taxes matter more than ever before. So here's what we're
going to dive in today. We're going to talk about rothology,
and many people out there really have no idea how
to get from taxable buckets to tax free. So a smarter,
more intentional way to build a tax free income stream
that can last you the rest of your life, and
(02:08):
we can do that. We can show you how that works.
No surprises, no last minute tax bills, no donating half
of your retirement to Uncle Sam, because retiring tax free
is the way to go, and most advisors just don't
know how to get there. You need to have a
plan to get there. So that's what we're first going
to dive into. Second, we're going to talk about solid
security maximization. Many people talk about when's the best time
(02:30):
to take it? When should I take it? They've done
the analysis, they haven't, They don't know. They just get
this pdf showing values and when they can get when
they take it at certain ages. What does that really
mean to you? So we'll dive into that, and we'll
also talk about retirement income sequencing. And this is so
important because the order you pull money from your accounts
and retirement can mean paying more in taxes or paying
(02:52):
less in taxes. So It sounds simple, but like as
I mentioned, getting it wrong could accidentally shrink your nest
egg by years. You can run out of money, you
can pay more in tax. We don't want that to happen.
So last thing we want to talk about it is
the Maggie plan, putting this all together, making sure that
you have a plan, an income plant, a tax plan,
and an investment plan, a social security maximization plan, and
(03:13):
also a state planned. So take up the phone, schedule
time to meet with us. Eight three three, Maggie tax.
There's so much information right there at your fingertips. Eight
three three Maggie tax. So let's dive in. Let's talk
about the rowthology method.
Speaker 3 (03:25):
Okay, because here's the truth. Many people don't understand about
of a roth conversion. But you don't have to sit
around hoping Congress keeps taxes low. I think that's the
main thought that people out. Let's wait for taxes to
go low. You don't have to cross your fingers and
pray for retirement that you won't get eaten alive by taxes,
because you all know taxes go up. So you can
take control. That's the main thing. Take control. You can
(03:48):
build a retirement income stream that's insulated intentional and yes,
the keyword Chris mentioned before, say it tax free, all right,
because that's the thing people are asking for. They're afraid
to cross that bridge to get to where it's going
to be tax free. And that's where the Rothologists method
comes in that Chris and I talking about. And this
isn't just a Wroth conversion. This is a structured, strategic,
(04:11):
step by step approach to transforming your taxable future into
a tax free lifestyle. Let's break this down right to
the heart of it, because this is important. Please take notes.
There's four deep dive insights behind the Rothologists report. It's
not just slam bam here it is. It doesn't work
that way. Wroth conversions turn tax future liabilities into present opportunities.
(04:34):
So every dollar sitting in a traditional IRA or four
oh one K that many of you have out there
is a future tax bill. What tax bill, we don't know.
And the problem is that people wait too long and
then it's too much tax and they go, what can
I do about it? So a Wroth conversion lets you
you pay a tax now at a known historically low rate,
(04:55):
rather than later at a potentially high rate. It's not
just a tax move, it's a long term risk reduction strategy.
And Chris, I think that's where a lot of people
do not figure out. You know, let's wait till April
fifteenth to pay the taxes. Let's wait till we get
the seventy and a half and pay the tax and bam,
then guess what happens?
Speaker 2 (05:12):
Shock comes in. Well, that's just it. You know, many
people don't have a strategy. That's why you need to
have one. So the Wroth conversion a lot of people
talk about, but they really just don't know how to
do it in the most tax efficient way. If you're
going to do it, would you want to meet with
someone who understands taxes, tax planning or who doesn't. And
that's why just pick up the phone schedule time to
meet with us, because we can show you how to
(05:33):
do the Wroth conversion the right way. Wroth conversion done right,
we call it right. And there's a potential way to
do it where you can pay least amount of taxes
so your future income is all tax free. That's what
this is about, future tax free money. And if you
can do that while while having strategic brackets and looking
at them and managing them maximizes the efficiency. Let's elaborate
(05:56):
on that exactly.
Speaker 3 (05:57):
And that's a great point because the Wrothologists method it
isn't about converting every single dollar at once, that's what
most people think out there. It's about filling up your
tax brackets with precision, year by year so you never
pay more tax than necessary. We call it a strategic
conversion and think of it like pouring water into a glass.
You fill it to the line, not over, not under,
(06:20):
to get the perfect result, which means you get a
full glass.
Speaker 2 (06:23):
My gosh, we'll stay right there for a minute because
that's exactly what people need to start thinking. And whether
you're driving, or whether you're walking, or whether you're in
your house, just just listen to the show today. That's
what it's about. So precision. Use that word because it's there.
Precision is what we focus on here at Maggie Tax
Advisor and Wealth Advisors. We help people on the tax
side with precision, with the investment side with precision, and
(06:46):
making sure that you have a complete plan. With precision,
this is you know everything that has to be dialed
in right, because if you don't do it right, you
can overflow the glass and guess what pay more taxes?
Speaker 4 (06:55):
You need to good point?
Speaker 2 (06:56):
You know you underfill the glass and guess what you
missed the upperity. So how can they eliminate these requirementium distributions?
And how that can protect your cash flow? Well, it's
strategic rollout, it's understanding how you know, like maybe a
three year or five year or seven year plan, will
you know bring that tax down. But eliminating required minimum
distribution also protects your cash flow.
Speaker 3 (07:19):
And think about a traditional accounts force you to take
money out whether.
Speaker 2 (07:22):
You need it or not, like an IRA or a form. Okay,
if you stop working, you have to take what they
call the requirement of distribution. So what you have to
take it satisfy it? But what can you do additional?
Speaker 3 (07:34):
Well, if you don't want it, you know you converted
into tax free money, but there's no required minimum distribution.
Let me repeat that. I had a gentleman the other day,
seventy three. He called me up and he said, Bobby,
I'm seventy three. I have to take out the requirement distribution.
He said, what could I have done if I don't
get to seventy three? Let's say I was sixty three,
sixty four, sixty five. What could I have done? And
(07:55):
basically he could have done a rough conversion. So there's
no requirement of distributions. If that means that more control,
you have more flexibility and fewer taxable surprises in your
seventies and beyond, and you decide when to take money Chris,
not the irs.
Speaker 2 (08:09):
There's no Wroth convert, there's no roth IRA requirement and
distributions correct with a regular IRA that you have to
take the require minimum. So if you start converting and
doing strategies with precision, then you can have an account
that you're not required to take the distributions out. So
stay with that, because yeah, you have to pay a tax.
Someone's sitting out there going, well, I have to pay
the tax.
Speaker 4 (08:29):
Of course you do.
Speaker 3 (08:30):
But if I can show you from the rothologists how
it works that you'd pay least amount of tax and
then over a three, five or seven year period pay
no tax, and then when you get to that required
minimum distribution age, there's no tax.
Speaker 2 (08:43):
There's no tax at all. Would you rather have tax
free or taxable? Again, which just flows into what we're
talking about here. Tax free growth compounds faster and lasts longer.
So when your money grows inside a Wrath four one
K or Wroth IRA, every dollar of growth stays yours.
No future tax haircut, no shrinking balance is because of
(09:03):
force withdrawals. You know, over ten, twenty, even thirty years,
the difference can be massive, often the difference between comfortable
living and confident retirement living. That's what we're looking for,
so precision. So put together a plan. Give us a
call eight three to three MAGI Tax. There's so much
information to talk about. But if you're interested in a
Wroth conversion and you have investments, let's put together the
(09:26):
right investment slash tax plan for you. Think of the
phone and schedule time to meet with us eight three
to three MAGI Tax and visit our website at magiitax
dot com.
Speaker 3 (09:35):
You know, Chris, we've all been taught to save on
a tax deferred basis, and nobody told us when we
were younger that when you work for thirty forty fifty
years that when you get to the end, guess what
it is. It's all taxable now and at what rate
we don't know. And remember when taxes are low, and
by the way, taxes are at the lowest point ever.
So why would you not take advantage of paying a
tax on that wroth account or that IRA rather four
(09:58):
one K to make it a wroth account. So these
are the things you have to think about. You give
us a call it eight three to three Maggie Tax,
and here's what it is. So now that we've explored
how to build a tax refoundation, let's talk about another
pillar of retirement that can make or break your long
term income, and that's social security. And because while rough
planning gives you control over taxes, social security gives you
(10:20):
control over timing and timing that translated into tens of
thousands of dollars over your lifetime. Think about that, that's
what you want. So coming up next, we're going to
talk about social Security maximization and how to claim smarter,
not sooner distributions. Eight three to three Maggie Tax. You're
listening to the Maggie Tax and Financial Show. Call us
at eighty three to three Maggie Tax. That's eight three
(10:42):
to three Maggie Tax.
Speaker 1 (10:48):
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 Advice. For information on how you
can create a tax free retirement. Call eight three three
Maggie Tax or visit Maggie Tax dot com. Now you're
(11:10):
host with Maggie Tax and Wealth Advisors. Robert and Chris Maggie.
Speaker 3 (11:14):
Welcome back to the Maggie Tax and Financial Show. My
name is Robert Maggie and I'm here with my son
and co host Chris Maggie. So let's think about this today.
We've talked about taxes, We've talked about building a tax
free engine for your retirement. Now let's shift to something
every retiree has a stake in. It's called social Security.
And most people think social Security is simple and you
(11:35):
hit a certain age, you file, and the checks just
start coming in.
Speaker 4 (11:39):
Chris, that's how simple they think it is. But here's
the truth.
Speaker 3 (11:43):
Social Security is one of the most misunderstood under optimized
income sources in America. And the difference between a smart
claiming strategy and a rush one can mean tens of
thousands of dollars over your lifetime.
Speaker 4 (11:56):
And this isn't just.
Speaker 3 (11:57):
A government benefit, it's a financial lever And when you
pull it at the right time, it can dramatically strengthen
your retirement plan. And Chris, in retirement planning, when you
talk about income planning and social security planning and investment planning,
this pays.
Speaker 4 (12:13):
This plays a major part. Would you agree totally?
Speaker 2 (12:16):
You know, this is an income source that many people
have the opportunity to have, and we don't know how
long it's going to be there or if they can
change it. But the end of the day, it's a
stream of income. So how do you use this in
your retirement plan? And many people just don't know how
to turn it on, when to turn it on, how
it's going to be taxed, spouse or benefits. What if
you pass away, who gets to hire the two if
(12:36):
you're taking the benefit of your spouse. These are things
that we can break down. So your claiming age directly
impacts your lifetime benefit. And many people come to us
and they just don't know what to do, right, I mean,
they bring in the statement, they've been paying to it
for so many years. They just don't know that this
is a big deal for them if turning on the
right way. So claiming at age sixty two locks you
(12:56):
in to a permanent reduction up to thirty percent for life.
I don't know if many people understood that or even
understand that, because waiting until you're full retirement age, they
could be sixty seven. Many years ago it was sixty five,
and then it was based off your age and when
you were born, and then it could be sixty six
and two months. So fra full retirement age is you
(13:17):
need to understand what that is. So many people wait
into age seventy. Well, it can increase your monthly benefits
significantly if you wait, but again, how long you're gonna live.
So this isn't just about a bigger check, It's about
long term income stability. So how do we get through
this with our clients because many people really just don't
(13:37):
know what to do.
Speaker 3 (13:38):
Well, if you have a Social Security report, you can
go to SSA dot gov and you can print one
out yourself. And here's what's gonna tell us when we
run the Social Security Maximization Report. It's going to show
you at age sixty two, at full retirement, and at
age seventy.
Speaker 4 (13:52):
What you're going to get.
Speaker 3 (13:53):
And you do a wonderful job when you present this
because the thing about it is that people don't really
see like social Security grows six point two percent to
full retirement age and then after that it grows at
eight percent, and people wonder, well, why am I getting more? Well,
because you're paying into it, all right, And the thing
is that if you take it early, you lose the
benefit of the growth that you could have had to
(14:16):
age seventy And.
Speaker 4 (14:16):
Is it a big deal?
Speaker 3 (14:17):
Well, that's the question that we ask you. Do you
need the income? Because if you don't need the income,
then you delay.
Speaker 2 (14:22):
Well, that's just it. Every situation is different, right, because
what if your life expectancy isn't that long? Are you
going to wait to ege seventy And then you know what,
if you have health issues and you pass away seventy four,
you only got four years of benefit, so it might
have made sense for you to take it earlier. That's
why it's so important to do a social scurity maximization review,
especially if you have investments and you're paying taxes and
(14:44):
you have no plan. Let's put together a plan because
we can show you exactly when to take it, how
to maximize your benefit, because if you wait past your
full retirement age, your benefit grows by As my dad
mentioned eight percent per year until eight seventy and that's
a guaranteed increase. But you know, no market risk, no volatilely,
no guesswork. But there's nothing else in retirement planning that
offers that kind of predictable return. But again, sometimes that
(15:07):
can be misleading because that's what they want you to do.
They want you to wait, wait, wait, and then less
years for you to take the benefit. So that's why
you have to do this strategically and what we call
with precision exactly.
Speaker 3 (15:20):
And that's where a lot of people really don't understand.
When we do our TV show, we have a segment
on there on Social Security, and I can't tell you
how many calls I get on a Monday saying, what
about the survivor benefit?
Speaker 4 (15:30):
What about these delayed retirement credits?
Speaker 3 (15:32):
You know, what about the spousal benefit, because it's just
now one piece where you get a check. Look think
about this. We paid into social Security all our lives
and then at the end we have to wait seven
eight years to get the max and even that's not
the max. So you know, don't rely on Social Security
as a retirement benefit because it's just not the way
(15:52):
it's going to be. And again we run this Social
Security Maximization report, and I would encourage all of you
to make an appointment with us, bring in your statement.
We can talk through these questions because if you wag
past your full retirement age, your benefit grows, like I said,
about eight percent per year until age seventy. That's a
guaranteed increase, no market risk, no volatility, no guesswork, and
(16:14):
there's nothing else in retirement planning that offers that kind
of predictable return. But coordinating benefits with your spouse can
multiply your income. And this is where it gets interesting
because married couples have options spousal benefits, survivor benefits, timing strategies,
and coordination between two incomes. So a well planned approach
(16:34):
can maximize the household income and protect the surviving spouse
from a sudden drop in benefits later in life.
Speaker 2 (16:41):
Well that's just it. I mean, think about this. If
you're this has been in your getting four thousand a
month and your spouse is getting one thousand a month.
Which usually a lot of people don't know is that
you could get the half of the spouse so benefit
without knowing it exactly. These are things that we have
to look at too. But just say you're getting four
and your spouse is getting two. But if you pass away,
way say that how this husband passes away, then the
(17:03):
spouse loses her benefit, but she gets the higher the two,
which is the four. So that means instead of having
six thousand dollars of income every month, she'll have a
reduction to four. So what are you doing? So Social
Security should work with you with your other sources of income.
And that's why if you have investments and you have
other areas, and that's why you do investment planning, and
(17:24):
that's what we do as well. We can show you
with the tax plan, the investment plan, solid security plan
could the best claiming strategy isn't chosen in isolation. We
want it depend on your taxes, your savings, your health,
your longevity expectations, and your income needs. Because when solid
security is integrated with your WROTH strategy, as we mentioned before,
pensions that you're getting it may be future withdrawals. It
(17:46):
becomes a powerful stabilizer in your retirement plants. That's why
we urge you to pick up the phone schedule time
to meet with us eight three three Maggie Tax.
Speaker 3 (17:54):
So now that you understand how to get the most
out of the benefit you've spent the lifetime paying into. Now,
so it's time to talk about something that quietly determines
how long your money actually lasts. Because that's the big question,
how long is my money going to last? And you
know this is important. So when you're sitting there thinking
am I going to outlive my money? Take a look
at Social Security maximization to give you the base so
(18:15):
that you have an idea of how much more you need.
Speaker 4 (18:17):
And it may not be as bad as you think.
Speaker 3 (18:19):
So up next, we're going to talk about retirement income sequencing,
the order you take your money from your accounts, and
why getting it right can add years of life to
your nest egg. So got to keep this thing going here.
Give us a call eight three to three Maggie Tax.
If you have questions about social Security or taxes, it's
eight three to three Maggie Tax. You're listening to the
Maggie Tax and Financial Show.
Speaker 1 (18:45):
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 you're
(19:07):
host with Maggie Tax and Wealth Advisors, Robert and Chris Maggie.
Speaker 2 (19:12):
Welcome back to the Maggie Tax and Financial Show. Thanks
for tuning in. We are always glad to be here
because there's so much information to talk about. We have
clients that come in each and every week. My gosh,
they they want advice, they want education, they want a plan,
and they haven't had it. And you know, as my
dad and I sit here all the time and we
talk about this, when's the last class you had on
(19:33):
how to make a plan? A financial plan, right, a
tax plan? How do you incorporate all together? And we
just get amazed by people who are in the fifties,
their sixties, their seventies, and they don't have the answers.
And you know, it's not an educational problem for them individually,
it's just pretty much a known problem amongst everybody. They're
(19:56):
not getting the advice, the true advice. I had a
client that called last week. They want to put one
hundred percent of their money in gold and I said,
think about that. You're putting it all into a speculative investment.
And they said, well, I'm talking to a transactional advisor
with their current advisor. And I said, that's why we
do complete planning. When you work with a fiduciary, someone
has to give you the right advice. And we're not
(20:17):
saying that gold cannot be a part of your plan.
Absolutely it can be, but you can't put one hundred
percent of it in there. So these things we see
data each and every week and we just get amazed.
And that's why we do the show, because people need
to understand that there are people out there that can
help them, and that's what we do.
Speaker 3 (20:34):
Well, you said it best. I mean, we do the
show every week, been doing it for years. We do
the TV show, the radio show, and every time we
talk about some different topic. People call us on a
Monday or any day during the week and they're always saying, well, gee,
was no one sat down and explained that to you,
because they're not and you don't ask. And if you
don't ask and you don't get the answers, then you're
never going to know, you know, what the real answer
(20:54):
is because you're just out there in a cloud. My
father used to say things like, the hell with it.
I don't want to bother you. No, No, that's not it, folks,
that's not it. You have to bother somebody. Because we
talk today about taxes. How much do you know about taxes?
All you know is that you pay taxes in and
you pay taxes out, okay, and they take more taxes out.
And then we talked about Roth strategy. Who's talking to
(21:15):
you about Roth strategy? How to convert your accounts to
tax free?
Speaker 4 (21:19):
Nobody?
Speaker 3 (21:20):
That's why we do the show. And we talked about
social security. And this is so important because social security
is a confusing mechanism for many people out there. You
pay into it and then when you want to get
it out, you'll complain. We all do, we're not getting enough.
So now we're stepping into one of the most overlooked,
the most powerful that I think, parts of retirement planning.
And we're talking about retirement income sequencing. Chris, What the
(21:43):
heck is sequencing? Would you please break that down?
Speaker 4 (21:46):
I love to.
Speaker 2 (21:46):
You know, most people think retirement is just about how
much you've saved, but the real truth it's us about
how do you use it. You know, the order in
which we pull money from your accounts can dramatically affect
how long your money lasts. It can affect how much
you pay in tax. It can affect how much risk
you take, and also how stable your income feels. And
(22:07):
get the sequence wrong and you can unintentionally drain your
nest egg years earlier then necessary. So you need to
get it right, and your money works smooth or smarter
more efficiently, often without you saving a single extra dollar
because you can control the sequence of distribution.
Speaker 4 (22:26):
What'd you call it? Discipline? Discipline? Right? We talk about
precision discipline too.
Speaker 2 (22:32):
My goodness, you know, most people, it's amazing when we
incorporate taxes, we can tell people and a lot of times,
even a couple times. Last week, we had a client
that had eighty thousand dollars of income in retirement and
it's not paying a diamond tax. And then we had
a client that's receiving one thousand dollars you know every week,
that's four thousand a month times twelve, you know, that's
(22:54):
forty eight thousand dollars year and pay no tax. Wow, right,
And they have another client that paid receive on hunred
twenty thousand dollars a year, ten thousand dollars a month,
and it's not paying a diamond tax. So most people say, well,
that cannot happen because most people don't understand household security
is taxed. Most people don't understand if you do the
right plan, and you can have tax free buckets forever
and ever and ever, and there's nothing wrong with taxable buckets.
(23:17):
But if you know how to take it from the
right source, guess what you can have those examples be
your life.
Speaker 4 (23:23):
You want to tell everybody now you want to make
them come in my gosh, Well that's it.
Speaker 2 (23:27):
So if you're paying too much in tax and you're
in retirement or about to retire, and you don't have
a distribution plan, then you have to pick up the
phone and schedule time to meet with us. I mean,
why would you not Why would you want to pay
more tax than you don't?
Speaker 4 (23:41):
You have to.
Speaker 3 (23:42):
Because they don't know, and because they're afraid to ask
the question, and because they might look stupid. But why
would you look stupid if you can avoid paying taxes
and what Chris just mentioned, have the guaranteed income you
want without sweating it. I mean, come on, give me
a break exactly.
Speaker 2 (23:56):
That's why different accounts have different tax consequences, which we're
going to talk about. You know, you're not choosing just
where you pull money from. You're choosing how much tax
you're going to pay. Our clients can control their tax rate.
Speaker 4 (24:08):
You no, it's we talked slow down. You said control
the tax rate.
Speaker 3 (24:15):
Is it because people take too much out too soon
and then they don't know when they like they borrow
money they owe it back.
Speaker 4 (24:21):
Is that kind of simple or confusing?
Speaker 2 (24:24):
It's confusing, but also too it's there's there's taxicle accounts,
there's tax deferred accounts, there's tax free accounts, and they
all behave differently. So a smart sequence blends them in
a way that minimizes their taxes and maximizes longevity. Precisely,
we talked about precision. The word of the day, I
guess is precision. Because we're together a plan, whether it's
(24:46):
the social scurity maximization precision strategy, the investment precision strategy,
the rough conversion precisions strategy, how much you're paying tax
precision strategy.
Speaker 4 (24:55):
I mean, this is what it's about, right, So you.
Speaker 3 (24:57):
Think you might be better off meeting with someone in
instead of just a Chris mentioned it before a transactional
advisor who says, just throw your money in gold. It's okay,
where's the strategy? Where's the precision there? For income and taxes?
Speaker 4 (25:10):
Chris?
Speaker 3 (25:10):
And it's ridiculous because early withdrawals can protect you from
future tax surprises.
Speaker 4 (25:15):
And here's what happens.
Speaker 3 (25:16):
Many retirees avoid touching their iras early on. I talked
about this before, thinking they're gonna save them. Oh yeah, yeah,
you're gonna save them, all right, you're saving for Uncle
Sam's retirement.
Speaker 4 (25:26):
But sometimes the.
Speaker 3 (25:27):
Best move is to intentionally draw down tax deferred accounts
earlier before you take d RMD's kick in, and then
they force you into hire tax bracket. Folks, what do
you think is gonna happen when you take money out
of your IRA?
Speaker 4 (25:39):
Taxable? Oh? Is it really?
Speaker 2 (25:41):
So?
Speaker 4 (25:41):
You put that on your income tax return?
Speaker 2 (25:42):
Yeah, you get a ten nineion nine. You gotta report
it shows taxable amount and then gross amount and taxable amount.
Speaker 3 (25:47):
Guess what does the income tax bracket go up? It
can be Oh my goodness, wow, it can affect your
social security up to eighty five percent. Really, has anybody
told you folks that because we do. Because when you
start talking about tax planning like we do at Maggie
Tax and Wealth Advisors, this is on your tax return,
this is your story. And what Chris and I do
is we read it and then we're going to tell
(26:08):
you the rest of the story. Because now you're going
to sit there and I've seen it so many times
in shock like.
Speaker 4 (26:13):
Oh my god, you know what do we do now?
Speaker 3 (26:15):
Well, we're going to tell you what to do, so
you know, even think about this before the rm ds
kick in and force you into high tax brackets. Do
something about it, think about a Roth conversion, because a
little planning now can prevent the tax explosion later. And
if you go to our website, Maggie Tax dot Com
the top right hand corner, you'll see the retirement calculator.
Go over there, press the button and it's going to
(26:35):
ask you to put some information in it. Now, you
can be as honest as you want with it, but
you can do as real as you want.
Speaker 4 (26:41):
And you put those numbers in.
Speaker 3 (26:42):
It's going to tell you what your requirement distribution is
going to be, and it's going to tell you what
tax you pay.
Speaker 4 (26:48):
It's right there. You can't take it away.
Speaker 3 (26:50):
That's the time you need to pick up the phone
and give Chris and I a call at Maggie Tax
and Wealth Advisors Because.
Speaker 4 (26:55):
We do this every day. We see this every day.
Speaker 3 (26:59):
You don't, So why don't you take a look at
it from your perspective, from your view and say, wow,
this is my story and Chris, now they can make
a decision to do something because they have the right
answer in front of them, not just someone down the
block telling them what to do.
Speaker 2 (27:12):
Well, that's just it. And that's why in our last
second we're going to talk about the Maggie Plan and
I'm going to put all us together. But you know,
as of right now, market conditions should influence your withdrawal order.
You know, many people don't understand that. That's why you
need to have a plan, have an advisor that's helping you,
a team of people, not just one. You know, pulling
money from the wrong account during a market downturn can
permanently damage your portfolio. Who's talking about your distribution plan?
(27:34):
Do you have a distribution plan? If not, why not?
We can help well a designed, designed design. We talk
about precisions, sequence adapts to market conditions, and that's why
drawing from safer buckets when markets are down and growth
becket buckets when markets are strong. This protects your long
term balance and reduces the risk of running out of money.
(27:56):
That's why when we we meet with clients, the main
concern about whether you have ten one thousand or a
ten million or forty million, it doesn't matter. The main
concern is will I outlive my money? And the answer
is if you put together the right plan, you won't.
That's why coordinating income sources creates a smoother, a long
lasting plan.
Speaker 4 (28:16):
Yeah, and that's what we're talking about here.
Speaker 3 (28:17):
Think about all the things we're talking about, social security,
your pensions, your roth withdrawals, taxable accounts and I raise
all interact and the right sequence balances these sources to
keep your tax bracket stable and your income predictable and
your portfolio healthy. It's not about guessing, it's about engineering
a sustainable income flow. This is what all of you
(28:40):
are asking for. This is what you tell us when
you come in, Bobby, Chris, I need more income. I'm
paying too much in taxes, my social security is not enough.
We've heard all those we hear it every day. But
this is up to you to make a decision to
do something about it. Put a plan together. We call
it the Maggie Plan. It's a tax plan, it's an
income plan, it's a social security plan, it's an investment plan,
(29:02):
it's a legacy plan.
Speaker 4 (29:03):
What am I missing? What the plan is?
Speaker 1 (29:05):
It?
Speaker 2 (29:05):
Stay planning. It's a complete plan. You know, that's what
it's about. So if you look for a complete advisor,
pick up the phone, schedule time to meet with us,
because we're serious about helping you. My gosh, you know,
every week we meet with clients and I get disappointed
when I see plans come through my desk and people
I don't have any plans. They just have piles of money,
and what are you doing about it? Most people they're
going up, they're going down. They're taking money from the
(29:25):
wrong spot. They have no idea. And that's why you
have to understand that complete planning. You deserve it. You
don't have to have millions of dollars to have a
complete plan. We can help you. Magi Tax and Wealth Advisors,
Maggi Tax dot Com eight three three Magi Tax. And
remember this retirement isn't just about saving money, it's about
using it. Wisely. You know taxes, there's tax timing, there's
(29:48):
Social Security timing, and there's income sequencing. They all work together.
It's like gears in machines. We understand that they all
have to work together because when they're all aligned, you're retired.
Runs smoothly and it's the best feeling in the world.
When clients come in and have income, they have a plan,
they pay leads and taxes, because when they're not well,
(30:09):
that's when people run into trouble, and that's when people complain,
and that's when people get frustrated, and that's when people say,
I'm paying too much in taxes. But at the end
of the day, they don't have a plan. But the
good news here is that you have the knowledge now
and the strategy to take control of your financial future.
All you have to do is pick up the phone,
schedule a time to meet with us. Eight three three
Maggie Tax, Stay tuned, stay informed, and stay intentional. Say precise.
(30:32):
It's about precision because your retirement deserves nothing, nothing less.
Eight three to three Maggie Tax.
Speaker 1 (30:41):
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 three
Maggie Tax or visit Maggie tax dot com. Now you're
(31:03):
host with Maggie Tax and Wealth Advisors, Robert and Chris Maggie.
Speaker 2 (31:07):
Thanks for tuning into the Magatax and Financial Show, and
today I'm talking about a whole bunch of topics such
as social security maximization, when's the best time to take it,
how it's taxed, what happens if you pass away? So
if you miss that segment, just pick up the phone,
schedule time to meet with us. Eight three to three
mag Attacks. We can put together your solid security maximization report.
We've also talked about rothology and how to convert money
(31:30):
from a taxable environment to tax free zones. There's ways
to have tax free money for the rest of your life.
There's a strategy behind it. We talked about filling up
the glass to the line, you know, not going over.
How do you do that? Well, these are things we
can talk about. We can show you every every plan
is different. Eight three to three mag Attax We also
talked about income sequencing and when's the best time to
(31:51):
take money and where to take it from. With precision,
we can show you that if you missed that topic,
my gosh, you missed a lot, but it's okay. Pick
up the phone, schedule time to meet with us. Eight
three three Maggie Tax. So we're going to finish up
today's show talking about what the Maggie Plans all about.
And it's come about complete planning, so that let's let's
dive into that.
Speaker 3 (32:10):
Well, the thing that I can say is that you
now know from the show what most retires never hear.
But knowing isn't enough. Sometimes you don't know what you
don't know. And these people who win in retirement, they're
the ones who act while they still have time. Keep
an open mind, come in and meet with us and
ask questions. You don't have to go to just one advice.
You can go to multiple adviars. There's nothing wrong, but
(32:31):
find the one that's going to give you the answers
that you want. So, so what is the Maggi Plan. Well,
the Maggi Plan is a combination of a tax plan.
Because people don't understand taxes, we can help them all
year round, not just you know, the first three months
of the year.
Speaker 4 (32:44):
That's not it.
Speaker 3 (32:45):
We have a Maggi plan is the income plan. Most
people out there ask us the question, and you should
be asking yourself do I have enough income to live?
And how am I going to look in ten twenty
thirty years? Do I have enough income? And what about
tax income? Okay, what about investment income? How many of
you out there have portfolios and Chris can talk about
(33:06):
this that haven't been reviewed that you still have the
same portfolio. Chris, and I had a client in just
this week and she showed me the statement and I said,
when's the last time you looked at it? She said, well,
I don't know. I said, well, whoa time out? What
do you mean you don't know? Well, I just gave
it to the bank and they're doing it. And I
looked on it and Chris, there were negatives there.
Speaker 4 (33:24):
What does a negative mean?
Speaker 2 (33:25):
Well, it could be like a loss right or withdrawal
or withdrawal. But many people don't even know what they have.
And that's what you brought into my attention. You know,
you came into me and said look at this, and
I did, and I analyzed it and the client had losses.
And we've been in an up market, So what happens?
They just accounts weren't handled the right way. So that's
why the investment plan is so important, the tax plan
(33:47):
is so important, the solid security plan is so important.
What about the estate plan?
Speaker 3 (33:50):
Well, the estate plan many of you I'll ask this question,
do you have a will or a trust? And you
should have something because you should have a power of attorney,
a healthcare surrogate. These are documents that you need. They're
not expensive, but they're very expensive if you don't have
them in place. When someone passes away, and we see
this every day. People come in and say, well, gee,
my wife's in a nursing home and she doesn't we
(34:13):
don't have power of attorney. And some of you might
relate to that because then you can't do anything. Why
because then it goes through probate. What that means is
you go call an attorney and the attorneys. Are they cheap,
Chris or are they expensive?
Speaker 2 (34:23):
No, that's the thing. I mean, you have control and
they could be very expensive depending on how much you have.
And many people don't want to go through that process,
and its time, it's delays, it's costs. I mean, it's
your decision. If you don't put together the right plan,
then guess what you can fall victim to these to
these obstacles.
Speaker 3 (34:41):
You know, there's something that I always say about ensuring
your IRA or your four oh one K, and people
quiver when I say this, life insurance. Well, do you
know life insurance is an investment that's tax free that
I have my IRA insurance so when I pass away,
my family's going to get tax free money and they're
not going to have all those taxes to pay on
the IRA or the four to one K. And you
(35:02):
know why some of you are sitting out there going, well, gee,
I never heard of that because the advisor never told
you about it. That's why, because everybody fears life insurance.
And Chris, life insurance is the only one that pays
you while you're alive.
Speaker 4 (35:12):
So what's wrong with that?
Speaker 3 (35:13):
If you have tax free money to pay the bills,
so life goes on so you don't have to go
broke paying taxes.
Speaker 2 (35:17):
Well, many people don't realize is that many people just
think life insurance is a death benefits that also could
be a living benefit to help you pay for care
and long term care and accelerate the death benefit you
for tax free income.
Speaker 4 (35:28):
How do you do that? Well?
Speaker 2 (35:29):
These things we're talking about, So get the Maggie Plan.
You know, we have offices on both sides of the bay.
We do complete planning. Why because we feel that the
machine to work, it needs to work with all these
different areas. Because that's what life's about, is complete planning.
We need to put together an income plan for you
that coordinates with your taxes, with incorporates with your investments,
(35:50):
which incorporates with how you want to leave the money
upon your demise. This is the Maggie Plan. So pick
up the phone, schedule time to meet with us. Eight
three three Maggie tax I had to.
Speaker 3 (35:59):
Ask you a question and everyone out there, of all
the Maggie Plan, the tax plan, the income plan, the
investment plan, the estate plan, the insurance plan, which one
you think would be.
Speaker 4 (36:08):
The most important?
Speaker 3 (36:09):
The complete plan. What I'm saying is that's what I
just did. Is this pieces right? And they don't put
them all together.
Speaker 4 (36:16):
That's the thing.
Speaker 2 (36:16):
How can you put together a puzzle together with just
one two pieces? That's why they're all important. You need
to have the whole, all the pieces put together so
you can see the big picture.
Speaker 4 (36:26):
Is that right?
Speaker 3 (36:27):
Yeah, that's why what we do is what we do,
and we've been passionate about this.
Speaker 2 (36:32):
We've been doing it for so many years. We have
offices on both sides of the Bay. We do a
TV show every Sunday on ABC TV at ten thirty
am on ABC tune in, and obviously our radio show
why because we want to educate you. There's so much
there to talk about. So throughout today we talked about
income sequencing, when to take money out, rothology, the best
best time to do a Roth conversion. We also talk
(36:53):
about sol security maximization. So this is why it's so
important to get the Maggie Plan, income planning, tax planning,
investment planning, legacy planning, a state planning. Give us a
called eight three to three MAGI tax.
Speaker 3 (37:06):
So now you know what most retires never hear. But
knowing isn't enough. And the people who win in retirement
I said this before, are the ones who act while
they still have time. In today's show, made you think
or rethink your plan, That's what we were trying to do.
If you realize you might be exposed to hire taxes
if you want a retirement strategy built around clarity instead
of guesswork. Then this is your moment to take control.
(37:27):
Eight three to three Magi Tax. Call us today, schedule
your appointment. Operators are standing by right now, and let's
build a plan that protects your income, reduces your taxes,
and gives you confidence for the decades ahead.
Speaker 4 (37:40):
And this is what you have to do.
Speaker 3 (37:41):
And make sure you're right back here next week because
we dive into so many topics, more strategies that can
transform the way you rethink your life and your retirement.
Eight three to three Maggie Tax and unlike. Then, stay sharp,
stay proactive, and keep building the retirement that you deserve.
Eight three to three Magi Tax, Say three to three
Maggie Tax.
Speaker 1 (38:04):
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
(38:25):
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 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 the Maggie Tax and Wealth Advisors Show. And
this is the program where common sense planning meets real
world retirement success. Welcome everyone, I'm Chris Maggan, I'm here
and my dad and coast of the show Robert Maggie
and feel fear to visit our website, Maggie Tax dot Com.
So much information right there at your fingertips eight three
three Maggie Tax. Pick up the own schedule time to
(01:01):
meet with us. We have office on both sides of
the bay. So whether you're driving, you're cooking, you walking
the dog, or even maybe you're hiding from the bills
or maybe hiding from doing your taxes, don't worry. You're
in the right place. This is the show where we
take the complicated, confusing world of taxes and retirement and
we break it down so clearly that even your cousin
Eddie could understand it. So welcome everyone. I'm Chris Maggie,
(01:22):
and I welcome my dad Coast of the show, Robert Maggie.
Speaker 3 (01:25):
Welcome everyone, and thanks for joining us today. And I'm
here with my son Chris, and I am Robert Maggie.
Speaker 4 (01:30):
So today we have a lot that we're going to
talk about.
Speaker 3 (01:33):
We've got a powerhouse of a show lined up, so
get some paper and pencil and start taking notes. There's
a lot of good things here because like it or not,
the financial landscape is shifting underneath us, and slowly for
some of us and very quickly for others.
Speaker 2 (01:47):
We're entering a moment where timing matters, strategy matters, and yes,
taxes matter more than ever before. So here's what we're
going to dive in today. We're going to talk about rothology,
and many people out there really have no idea how
to get from taxable buckets to tax free. So a smarter,
more intentional way to build a tax free income stream
that can last you the rest of your life, and
(02:08):
we can do that. We can show you how that works.
No surprises, no last minute tax bills, no donating half
of your retirement to Uncle Sam, because retiring tax free
is the way to go, and most advisors just don't
know how to get there. You need to have a
plan to get there. So that's what we're first going
to dive into. Second, we're going to talk about solid
security maximization. Many people talk about when's the best time
(02:30):
to take it? When should I take it? They've done
the analysis, they haven't, They don't know. They just get
this pdf showing values and when they can get when
they take it at certain ages. What does that really
mean to you? So we'll dive into that, and we'll
also talk about retirement income sequencing. And this is so
important because the order you pull money from your accounts
and retirement can mean paying more in taxes or paying
(02:52):
less in taxes. So It sounds simple, but like as
I mentioned, getting it wrong could accidentally shrink your nest
egg by years. You can run out of money, you
can pay more in tax. We don't want that to happen.
So last thing we want to talk about it is
the Maggie plan, putting this all together, making sure that
you have a plan, an income plant, a tax plan,
and an investment plan, a social security maximization plan, and
(03:13):
also a state planned. So take up the phone, schedule
time to meet with us. Eight three three, Maggie tax.
There's so much information right there at your fingertips. Eight
three three Maggie tax. So let's dive in. Let's talk
about the rowthology method.
Speaker 3 (03:25):
Okay, because here's the truth. Many people don't understand about
of a roth conversion. But you don't have to sit
around hoping Congress keeps taxes low. I think that's the
main thought that people out. Let's wait for taxes to
go low. You don't have to cross your fingers and
pray for retirement that you won't get eaten alive by taxes,
because you all know taxes go up. So you can
take control. That's the main thing. Take control. You can
(03:48):
build a retirement income stream that's insulated intentional and yes,
the keyword Chris mentioned before, say it tax free, all right,
because that's the thing people are asking for. They're afraid
to cross that bridge to get to where it's going
to be tax free. And that's where the Rothologists method
comes in that Chris and I talking about. And this
isn't just a Wroth conversion. This is a structured, strategic,
(04:11):
step by step approach to transforming your taxable future into
a tax free lifestyle. Let's break this down right to
the heart of it, because this is important. Please take notes.
There's four deep dive insights behind the Rothologists report. It's
not just slam bam here it is. It doesn't work
that way. Wroth conversions turn tax future liabilities into present opportunities.
(04:34):
So every dollar sitting in a traditional IRA or four
oh one K that many of you have out there
is a future tax bill. What tax bill, we don't know.
And the problem is that people wait too long and
then it's too much tax and they go, what can
I do about it? So a Wroth conversion lets you
you pay a tax now at a known historically low rate,
(04:55):
rather than later at a potentially high rate. It's not
just a tax move, it's a long term risk reduction strategy.
And Chris, I think that's where a lot of people
do not figure out. You know, let's wait till April
fifteenth to pay the taxes. Let's wait till we get
the seventy and a half and pay the tax and bam,
then guess what happens?
Speaker 2 (05:12):
Shock comes in. Well, that's just it. You know, many
people don't have a strategy. That's why you need to
have one. So the Wroth conversion a lot of people
talk about, but they really just don't know how to
do it in the most tax efficient way. If you're
going to do it, would you want to meet with
someone who understands taxes, tax planning or who doesn't. And
that's why just pick up the phone schedule time to
meet with us, because we can show you how to
(05:33):
do the Wroth conversion the right way. Wroth conversion done right,
we call it right. And there's a potential way to
do it where you can pay least amount of taxes
so your future income is all tax free. That's what
this is about, future tax free money. And if you
can do that while while having strategic brackets and looking
at them and managing them maximizes the efficiency. Let's elaborate
(05:56):
on that exactly.
Speaker 3 (05:57):
And that's a great point because the Wrothologists method it
isn't about converting every single dollar at once, that's what
most people think out there. It's about filling up your
tax brackets with precision, year by year so you never
pay more tax than necessary. We call it a strategic
conversion and think of it like pouring water into a glass.
You fill it to the line, not over, not under,
(06:20):
to get the perfect result, which means you get a
full glass.
Speaker 2 (06:23):
My gosh, we'll stay right there for a minute because
that's exactly what people need to start thinking. And whether
you're driving, or whether you're walking, or whether you're in
your house, just just listen to the show today. That's
what it's about. So precision. Use that word because it's there.
Precision is what we focus on here at Maggie Tax
Advisor and Wealth Advisors. We help people on the tax
side with precision, with the investment side with precision, and
(06:46):
making sure that you have a complete plan. With precision,
this is you know everything that has to be dialed
in right, because if you don't do it right, you
can overflow the glass and guess what pay more taxes?
Speaker 4 (06:55):
You need to good point?
Speaker 2 (06:56):
You know you underfill the glass and guess what you
missed the upperity. So how can they eliminate these requirementium distributions?
And how that can protect your cash flow? Well, it's
strategic rollout, it's understanding how you know, like maybe a
three year or five year or seven year plan, will
you know bring that tax down. But eliminating required minimum
distribution also protects your cash flow.
Speaker 3 (07:19):
And think about a traditional accounts force you to take
money out whether.
Speaker 2 (07:22):
You need it or not, like an IRA or a form. Okay,
if you stop working, you have to take what they
call the requirement of distribution. So what you have to
take it satisfy it? But what can you do additional?
Speaker 3 (07:34):
Well, if you don't want it, you know you converted
into tax free money, but there's no required minimum distribution.
Let me repeat that. I had a gentleman the other day,
seventy three. He called me up and he said, Bobby,
I'm seventy three. I have to take out the requirement distribution.
He said, what could I have done if I don't
get to seventy three? Let's say I was sixty three,
sixty four, sixty five. What could I have done? And
(07:55):
basically he could have done a rough conversion. So there's
no requirement of distributions. If that means that more control,
you have more flexibility and fewer taxable surprises in your
seventies and beyond, and you decide when to take money Chris,
not the irs.
Speaker 2 (08:09):
There's no Wroth convert, there's no roth IRA requirement and
distributions correct with a regular IRA that you have to
take the require minimum. So if you start converting and
doing strategies with precision, then you can have an account
that you're not required to take the distributions out. So
stay with that, because yeah, you have to pay a tax.
Someone's sitting out there going, well, I have to pay
the tax.
Speaker 4 (08:29):
Of course you do.
Speaker 3 (08:30):
But if I can show you from the rothologists how
it works that you'd pay least amount of tax and
then over a three, five or seven year period pay
no tax, and then when you get to that required
minimum distribution age, there's no tax.
Speaker 2 (08:43):
There's no tax at all. Would you rather have tax
free or taxable? Again, which just flows into what we're
talking about here. Tax free growth compounds faster and lasts longer.
So when your money grows inside a Wrath four one
K or Wroth IRA, every dollar of growth stays yours.
No future tax haircut, no shrinking balance is because of
(09:03):
force withdrawals. You know, over ten, twenty, even thirty years,
the difference can be massive, often the difference between comfortable
living and confident retirement living. That's what we're looking for,
so precision. So put together a plan. Give us a
call eight three to three MAGI Tax. There's so much
information to talk about. But if you're interested in a
Wroth conversion and you have investments, let's put together the
(09:26):
right investment slash tax plan for you. Think of the
phone and schedule time to meet with us eight three
to three MAGI Tax and visit our website at magiitax
dot com.
Speaker 3 (09:35):
You know, Chris, we've all been taught to save on
a tax deferred basis, and nobody told us when we
were younger that when you work for thirty forty fifty
years that when you get to the end, guess what
it is. It's all taxable now and at what rate
we don't know. And remember when taxes are low, and
by the way, taxes are at the lowest point ever.
So why would you not take advantage of paying a
tax on that wroth account or that IRA rather four
(09:58):
one K to make it a wroth account. So these
are the things you have to think about. You give
us a call it eight three to three Maggie Tax,
and here's what it is. So now that we've explored
how to build a tax refoundation, let's talk about another
pillar of retirement that can make or break your long
term income, and that's social security. And because while rough
planning gives you control over taxes, social security gives you
(10:20):
control over timing and timing that translated into tens of
thousands of dollars over your lifetime. Think about that, that's
what you want. So coming up next, we're going to
talk about social Security maximization and how to claim smarter,
not sooner distributions. Eight three to three Maggie Tax. You're
listening to the Maggie Tax and Financial Show. Call us
at eighty three to three Maggie Tax. That's eight three
(10:42):
to three Maggie Tax.
Speaker 1 (10:48):
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 Advice. For information on how you
can create a tax free retirement. Call eight three three
Maggie Tax or visit Maggie Tax dot com. Now you're
(11:10):
host with Maggie Tax and Wealth Advisors. Robert and Chris Maggie.
Speaker 3 (11:14):
Welcome back to the Maggie Tax and Financial Show. My
name is Robert Maggie and I'm here with my son
and co host Chris Maggie. So let's think about this today.
We've talked about taxes, We've talked about building a tax
free engine for your retirement. Now let's shift to something
every retiree has a stake in. It's called social Security.
And most people think social Security is simple and you
(11:35):
hit a certain age, you file, and the checks just
start coming in.
Speaker 4 (11:39):
Chris, that's how simple they think it is. But here's
the truth.
Speaker 3 (11:43):
Social Security is one of the most misunderstood under optimized
income sources in America. And the difference between a smart
claiming strategy and a rush one can mean tens of
thousands of dollars over your lifetime.
Speaker 4 (11:56):
And this isn't just.
Speaker 3 (11:57):
A government benefit, it's a financial lever And when you
pull it at the right time, it can dramatically strengthen
your retirement plan. And Chris, in retirement planning, when you
talk about income planning and social security planning and investment planning,
this pays.
Speaker 4 (12:13):
This plays a major part. Would you agree totally?
Speaker 2 (12:16):
You know, this is an income source that many people
have the opportunity to have, and we don't know how
long it's going to be there or if they can
change it. But the end of the day, it's a
stream of income. So how do you use this in
your retirement plan? And many people just don't know how
to turn it on, when to turn it on, how
it's going to be taxed, spouse or benefits. What if
you pass away, who gets to hire the two if
(12:36):
you're taking the benefit of your spouse. These are things
that we can break down. So your claiming age directly
impacts your lifetime benefit. And many people come to us
and they just don't know what to do, right, I mean,
they bring in the statement, they've been paying to it
for so many years. They just don't know that this
is a big deal for them if turning on the
right way. So claiming at age sixty two locks you
(12:56):
in to a permanent reduction up to thirty percent for life.
I don't know if many people understood that or even
understand that, because waiting until you're full retirement age, they
could be sixty seven. Many years ago it was sixty five,
and then it was based off your age and when
you were born, and then it could be sixty six
and two months. So fra full retirement age is you
(13:17):
need to understand what that is. So many people wait
into age seventy. Well, it can increase your monthly benefits
significantly if you wait, but again, how long you're gonna live.
So this isn't just about a bigger check, It's about
long term income stability. So how do we get through
this with our clients because many people really just don't
(13:37):
know what to do.
Speaker 3 (13:38):
Well, if you have a Social Security report, you can
go to SSA dot gov and you can print one
out yourself. And here's what's gonna tell us when we
run the Social Security Maximization Report. It's going to show
you at age sixty two, at full retirement, and at
age seventy.
Speaker 4 (13:52):
What you're going to get.
Speaker 3 (13:53):
And you do a wonderful job when you present this
because the thing about it is that people don't really
see like social Security grows six point two percent to
full retirement age and then after that it grows at
eight percent, and people wonder, well, why am I getting more? Well,
because you're paying into it, all right, And the thing
is that if you take it early, you lose the
benefit of the growth that you could have had to
(14:16):
age seventy And.
Speaker 4 (14:16):
Is it a big deal?
Speaker 3 (14:17):
Well, that's the question that we ask you. Do you
need the income? Because if you don't need the income,
then you delay.
Speaker 2 (14:22):
Well, that's just it. Every situation is different, right, because
what if your life expectancy isn't that long? Are you
going to wait to ege seventy And then you know what,
if you have health issues and you pass away seventy four,
you only got four years of benefit, so it might
have made sense for you to take it earlier. That's
why it's so important to do a social scurity maximization review,
especially if you have investments and you're paying taxes and
(14:44):
you have no plan. Let's put together a plan because
we can show you exactly when to take it, how
to maximize your benefit, because if you wait past your
full retirement age, your benefit grows by As my dad
mentioned eight percent per year until eight seventy and that's
a guaranteed increase. But you know, no market risk, no volatilely,
no guesswork. But there's nothing else in retirement planning that
offers that kind of predictable return. But again, sometimes that
(15:07):
can be misleading because that's what they want you to do.
They want you to wait, wait, wait, and then less
years for you to take the benefit. So that's why
you have to do this strategically and what we call
with precision exactly.
Speaker 3 (15:20):
And that's where a lot of people really don't understand.
When we do our TV show, we have a segment
on there on Social Security, and I can't tell you
how many calls I get on a Monday saying, what
about the survivor benefit?
Speaker 4 (15:30):
What about these delayed retirement credits?
Speaker 3 (15:32):
You know, what about the spousal benefit, because it's just
now one piece where you get a check. Look think
about this. We paid into social Security all our lives
and then at the end we have to wait seven
eight years to get the max and even that's not
the max. So you know, don't rely on Social Security
as a retirement benefit because it's just not the way
(15:52):
it's going to be. And again we run this Social
Security Maximization report, and I would encourage all of you
to make an appointment with us, bring in your statement.
We can talk through these questions because if you wag
past your full retirement age, your benefit grows, like I said,
about eight percent per year until age seventy. That's a
guaranteed increase, no market risk, no volatility, no guesswork, and
(16:14):
there's nothing else in retirement planning that offers that kind
of predictable return. But coordinating benefits with your spouse can
multiply your income. And this is where it gets interesting
because married couples have options spousal benefits, survivor benefits, timing strategies,
and coordination between two incomes. So a well planned approach
(16:34):
can maximize the household income and protect the surviving spouse
from a sudden drop in benefits later in life.
Speaker 2 (16:41):
Well that's just it. I mean, think about this. If
you're this has been in your getting four thousand a
month and your spouse is getting one thousand a month.
Which usually a lot of people don't know is that
you could get the half of the spouse so benefit
without knowing it exactly. These are things that we have
to look at too. But just say you're getting four
and your spouse is getting two. But if you pass away,
way say that how this husband passes away, then the
(17:03):
spouse loses her benefit, but she gets the higher the two,
which is the four. So that means instead of having
six thousand dollars of income every month, she'll have a
reduction to four. So what are you doing? So Social
Security should work with you with your other sources of income.
And that's why if you have investments and you have
other areas, and that's why you do investment planning, and
(17:24):
that's what we do as well. We can show you
with the tax plan, the investment plan, solid security plan
could the best claiming strategy isn't chosen in isolation. We
want it depend on your taxes, your savings, your health,
your longevity expectations, and your income needs. Because when solid
security is integrated with your WROTH strategy, as we mentioned before,
pensions that you're getting it may be future withdrawals. It
(17:46):
becomes a powerful stabilizer in your retirement plants. That's why
we urge you to pick up the phone schedule time
to meet with us eight three three Maggie Tax.
Speaker 3 (17:54):
So now that you understand how to get the most
out of the benefit you've spent the lifetime paying into. Now,
so it's time to talk about something that quietly determines
how long your money actually lasts. Because that's the big question,
how long is my money going to last? And you
know this is important. So when you're sitting there thinking
am I going to outlive my money? Take a look
at Social Security maximization to give you the base so
(18:15):
that you have an idea of how much more you need.
Speaker 4 (18:17):
And it may not be as bad as you think.
Speaker 3 (18:19):
So up next, we're going to talk about retirement income sequencing,
the order you take your money from your accounts, and
why getting it right can add years of life to
your nest egg. So got to keep this thing going here.
Give us a call eight three to three Maggie Tax.
If you have questions about social Security or taxes, it's
eight three to three Maggie Tax. You're listening to the
Maggie Tax and Financial Show.
Speaker 1 (18:45):
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 you're
(19:07):
host with Maggie Tax and Wealth Advisors, Robert and Chris Maggie.
Speaker 2 (19:12):
Welcome back to the Maggie Tax and Financial Show. Thanks
for tuning in. We are always glad to be here
because there's so much information to talk about. We have
clients that come in each and every week. My gosh,
they they want advice, they want education, they want a plan,
and they haven't had it. And you know, as my
dad and I sit here all the time and we
talk about this, when's the last class you had on
(19:33):
how to make a plan? A financial plan, right, a
tax plan? How do you incorporate all together? And we
just get amazed by people who are in the fifties,
their sixties, their seventies, and they don't have the answers.
And you know, it's not an educational problem for them individually,
it's just pretty much a known problem amongst everybody. They're
(19:56):
not getting the advice, the true advice. I had a
client that called last week. They want to put one
hundred percent of their money in gold and I said,
think about that. You're putting it all into a speculative investment.
And they said, well, I'm talking to a transactional advisor
with their current advisor. And I said, that's why we
do complete planning. When you work with a fiduciary, someone
has to give you the right advice. And we're not
(20:17):
saying that gold cannot be a part of your plan.
Absolutely it can be, but you can't put one hundred
percent of it in there. So these things we see
data each and every week and we just get amazed.
And that's why we do the show, because people need
to understand that there are people out there that can
help them, and that's what we do.
Speaker 3 (20:34):
Well, you said it best. I mean, we do the
show every week, been doing it for years. We do
the TV show, the radio show, and every time we
talk about some different topic. People call us on a
Monday or any day during the week and they're always saying, well, gee,
was no one sat down and explained that to you,
because they're not and you don't ask. And if you
don't ask and you don't get the answers, then you're
never going to know, you know, what the real answer
(20:54):
is because you're just out there in a cloud. My
father used to say things like, the hell with it.
I don't want to bother you. No, No, that's not it, folks,
that's not it. You have to bother somebody. Because we
talk today about taxes. How much do you know about taxes?
All you know is that you pay taxes in and
you pay taxes out, okay, and they take more taxes out.
And then we talked about Roth strategy. Who's talking to
(21:15):
you about Roth strategy? How to convert your accounts to
tax free?
Speaker 4 (21:19):
Nobody?
Speaker 3 (21:20):
That's why we do the show. And we talked about
social security. And this is so important because social security
is a confusing mechanism for many people out there. You
pay into it and then when you want to get
it out, you'll complain. We all do, we're not getting enough.
So now we're stepping into one of the most overlooked,
the most powerful that I think, parts of retirement planning.
And we're talking about retirement income sequencing. Chris, What the
(21:43):
heck is sequencing? Would you please break that down?
Speaker 4 (21:46):
I love to.
Speaker 2 (21:46):
You know, most people think retirement is just about how
much you've saved, but the real truth it's us about
how do you use it. You know, the order in
which we pull money from your accounts can dramatically affect
how long your money lasts. It can affect how much
you pay in tax. It can affect how much risk
you take, and also how stable your income feels. And
(22:07):
get the sequence wrong and you can unintentionally drain your
nest egg years earlier then necessary. So you need to
get it right, and your money works smooth or smarter
more efficiently, often without you saving a single extra dollar
because you can control the sequence of distribution.
Speaker 4 (22:26):
What'd you call it? Discipline? Discipline? Right? We talk about
precision discipline too.
Speaker 2 (22:32):
My goodness, you know, most people, it's amazing when we
incorporate taxes, we can tell people and a lot of times,
even a couple times. Last week, we had a client
that had eighty thousand dollars of income in retirement and
it's not paying a diamond tax. And then we had
a client that's receiving one thousand dollars you know every week,
that's four thousand a month times twelve, you know, that's
(22:54):
forty eight thousand dollars year and pay no tax. Wow, right,
And they have another client that paid receive on hunred
twenty thousand dollars a year, ten thousand dollars a month,
and it's not paying a diamond tax. So most people say, well,
that cannot happen because most people don't understand household security
is taxed. Most people don't understand if you do the
right plan, and you can have tax free buckets forever
and ever and ever, and there's nothing wrong with taxable buckets.
(23:17):
But if you know how to take it from the
right source, guess what you can have those examples be
your life.
Speaker 4 (23:23):
You want to tell everybody now you want to make
them come in my gosh, Well that's it.
Speaker 2 (23:27):
So if you're paying too much in tax and you're
in retirement or about to retire, and you don't have
a distribution plan, then you have to pick up the
phone and schedule time to meet with us. I mean,
why would you not Why would you want to pay
more tax than you don't?
Speaker 4 (23:41):
You have to.
Speaker 3 (23:42):
Because they don't know, and because they're afraid to ask
the question, and because they might look stupid. But why
would you look stupid if you can avoid paying taxes
and what Chris just mentioned, have the guaranteed income you
want without sweating it. I mean, come on, give me
a break exactly.
Speaker 2 (23:56):
That's why different accounts have different tax consequences, which we're
going to talk about. You know, you're not choosing just
where you pull money from. You're choosing how much tax
you're going to pay. Our clients can control their tax rate.
Speaker 4 (24:08):
You no, it's we talked slow down. You said control
the tax rate.
Speaker 3 (24:15):
Is it because people take too much out too soon
and then they don't know when they like they borrow
money they owe it back.
Speaker 4 (24:21):
Is that kind of simple or confusing?
Speaker 2 (24:24):
It's confusing, but also too it's there's there's taxicle accounts,
there's tax deferred accounts, there's tax free accounts, and they
all behave differently. So a smart sequence blends them in
a way that minimizes their taxes and maximizes longevity. Precisely,
we talked about precision. The word of the day, I
guess is precision. Because we're together a plan, whether it's
(24:46):
the social scurity maximization precision strategy, the investment precision strategy,
the rough conversion precisions strategy, how much you're paying tax
precision strategy.
Speaker 4 (24:55):
I mean, this is what it's about, right, So you.
Speaker 3 (24:57):
Think you might be better off meeting with someone in
instead of just a Chris mentioned it before a transactional
advisor who says, just throw your money in gold. It's okay,
where's the strategy? Where's the precision there? For income and taxes?
Speaker 4 (25:10):
Chris?
Speaker 3 (25:10):
And it's ridiculous because early withdrawals can protect you from
future tax surprises.
Speaker 4 (25:15):
And here's what happens.
Speaker 3 (25:16):
Many retirees avoid touching their iras early on. I talked
about this before, thinking they're gonna save them. Oh yeah, yeah,
you're gonna save them, all right, you're saving for Uncle
Sam's retirement.
Speaker 4 (25:26):
But sometimes the.
Speaker 3 (25:27):
Best move is to intentionally draw down tax deferred accounts
earlier before you take d RMD's kick in, and then
they force you into hire tax bracket. Folks, what do
you think is gonna happen when you take money out
of your IRA?
Speaker 4 (25:39):
Taxable? Oh? Is it really?
Speaker 2 (25:41):
So?
Speaker 4 (25:41):
You put that on your income tax return?
Speaker 2 (25:42):
Yeah, you get a ten nineion nine. You gotta report
it shows taxable amount and then gross amount and taxable amount.
Speaker 3 (25:47):
Guess what does the income tax bracket go up? It
can be Oh my goodness, wow, it can affect your
social security up to eighty five percent. Really, has anybody
told you folks that because we do. Because when you
start talking about tax planning like we do at Maggie
Tax and Wealth Advisors, this is on your tax return,
this is your story. And what Chris and I do
is we read it and then we're going to tell
(26:08):
you the rest of the story. Because now you're going
to sit there and I've seen it so many times
in shock like.
Speaker 4 (26:13):
Oh my god, you know what do we do now?
Speaker 3 (26:15):
Well, we're going to tell you what to do, so
you know, even think about this before the rm ds
kick in and force you into high tax brackets. Do
something about it, think about a Roth conversion, because a
little planning now can prevent the tax explosion later. And
if you go to our website, Maggie Tax dot Com
the top right hand corner, you'll see the retirement calculator.
Go over there, press the button and it's going to
(26:35):
ask you to put some information in it. Now, you
can be as honest as you want with it, but
you can do as real as you want.
Speaker 4 (26:41):
And you put those numbers in.
Speaker 3 (26:42):
It's going to tell you what your requirement distribution is
going to be, and it's going to tell you what
tax you pay.
Speaker 4 (26:48):
It's right there. You can't take it away.
Speaker 3 (26:50):
That's the time you need to pick up the phone
and give Chris and I a call at Maggie Tax
and Wealth Advisors Because.
Speaker 4 (26:55):
We do this every day. We see this every day.
Speaker 3 (26:59):
You don't, So why don't you take a look at
it from your perspective, from your view and say, wow,
this is my story and Chris, now they can make
a decision to do something because they have the right
answer in front of them, not just someone down the
block telling them what to do.
Speaker 2 (27:12):
Well, that's just it. And that's why in our last
second we're going to talk about the Maggie Plan and
I'm going to put all us together. But you know,
as of right now, market conditions should influence your withdrawal order.
You know, many people don't understand that. That's why you
need to have a plan, have an advisor that's helping you,
a team of people, not just one. You know, pulling
money from the wrong account during a market downturn can
permanently damage your portfolio. Who's talking about your distribution plan?
(27:34):
Do you have a distribution plan? If not, why not?
We can help well a designed, designed design. We talk
about precisions, sequence adapts to market conditions, and that's why
drawing from safer buckets when markets are down and growth
becket buckets when markets are strong. This protects your long
term balance and reduces the risk of running out of money.
(27:56):
That's why when we we meet with clients, the main
concern about whether you have ten one thousand or a
ten million or forty million, it doesn't matter. The main
concern is will I outlive my money? And the answer
is if you put together the right plan, you won't.
That's why coordinating income sources creates a smoother, a long
lasting plan.
Speaker 4 (28:16):
Yeah, and that's what we're talking about here.
Speaker 3 (28:17):
Think about all the things we're talking about, social security,
your pensions, your roth withdrawals, taxable accounts and I raise
all interact and the right sequence balances these sources to
keep your tax bracket stable and your income predictable and
your portfolio healthy. It's not about guessing, it's about engineering
a sustainable income flow. This is what all of you
(28:40):
are asking for. This is what you tell us when
you come in, Bobby, Chris, I need more income. I'm
paying too much in taxes, my social security is not enough.
We've heard all those we hear it every day. But
this is up to you to make a decision to
do something about it. Put a plan together. We call
it the Maggie Plan. It's a tax plan, it's an
income plan, it's a social security plan, it's an investment plan,
(29:02):
it's a legacy plan.
Speaker 4 (29:03):
What am I missing? What the plan is?
Speaker 1 (29:05):
It?
Speaker 2 (29:05):
Stay planning. It's a complete plan. You know, that's what
it's about. So if you look for a complete advisor,
pick up the phone, schedule time to meet with us,
because we're serious about helping you. My gosh, you know,
every week we meet with clients and I get disappointed
when I see plans come through my desk and people
I don't have any plans. They just have piles of money,
and what are you doing about it? Most people they're
going up, they're going down. They're taking money from the
(29:25):
wrong spot. They have no idea. And that's why you
have to understand that complete planning. You deserve it. You
don't have to have millions of dollars to have a
complete plan. We can help you. Magi Tax and Wealth Advisors,
Maggi Tax dot Com eight three three Magi Tax. And
remember this retirement isn't just about saving money, it's about
using it. Wisely. You know taxes, there's tax timing, there's
(29:48):
Social Security timing, and there's income sequencing. They all work together.
It's like gears in machines. We understand that they all
have to work together because when they're all aligned, you're retired.
Runs smoothly and it's the best feeling in the world.
When clients come in and have income, they have a plan,
they pay leads and taxes, because when they're not well,
(30:09):
that's when people run into trouble, and that's when people complain,
and that's when people get frustrated, and that's when people say,
I'm paying too much in taxes. But at the end
of the day, they don't have a plan. But the
good news here is that you have the knowledge now
and the strategy to take control of your financial future.
All you have to do is pick up the phone,
schedule a time to meet with us. Eight three three
Maggie Tax, Stay tuned, stay informed, and stay intentional. Say precise.
(30:32):
It's about precision because your retirement deserves nothing, nothing less.
Eight three to three Maggie Tax.
Speaker 1 (30:41):
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 three
Maggie Tax or visit Maggie tax dot com. Now you're
(31:03):
host with Maggie Tax and Wealth Advisors, Robert and Chris Maggie.
Speaker 2 (31:07):
Thanks for tuning into the Magatax and Financial Show, and
today I'm talking about a whole bunch of topics such
as social security maximization, when's the best time to take it,
how it's taxed, what happens if you pass away? So
if you miss that segment, just pick up the phone,
schedule time to meet with us. Eight three to three
mag Attacks. We can put together your solid security maximization report.
We've also talked about rothology and how to convert money
(31:30):
from a taxable environment to tax free zones. There's ways
to have tax free money for the rest of your life.
There's a strategy behind it. We talked about filling up
the glass to the line, you know, not going over.
How do you do that? Well, these are things we
can talk about. We can show you every every plan
is different. Eight three to three mag Attax We also
talked about income sequencing and when's the best time to
(31:51):
take money and where to take it from. With precision,
we can show you that if you missed that topic,
my gosh, you missed a lot, but it's okay. Pick
up the phone, schedule time to meet with us. Eight
three three Maggie Tax. So we're going to finish up
today's show talking about what the Maggie Plans all about.
And it's come about complete planning, so that let's let's
dive into that.
Speaker 3 (32:10):
Well, the thing that I can say is that you
now know from the show what most retires never hear.
But knowing isn't enough. Sometimes you don't know what you
don't know. And these people who win in retirement, they're
the ones who act while they still have time. Keep
an open mind, come in and meet with us and
ask questions. You don't have to go to just one advice.
You can go to multiple adviars. There's nothing wrong, but
(32:31):
find the one that's going to give you the answers
that you want. So, so what is the Maggi Plan. Well,
the Maggi Plan is a combination of a tax plan.
Because people don't understand taxes, we can help them all
year round, not just you know, the first three months
of the year.
Speaker 4 (32:44):
That's not it.
Speaker 3 (32:45):
We have a Maggi plan is the income plan. Most
people out there ask us the question, and you should
be asking yourself do I have enough income to live?
And how am I going to look in ten twenty
thirty years? Do I have enough income? And what about
tax income? Okay, what about investment income? How many of
you out there have portfolios and Chris can talk about
(33:06):
this that haven't been reviewed that you still have the
same portfolio. Chris, and I had a client in just
this week and she showed me the statement and I said,
when's the last time you looked at it? She said, well,
I don't know. I said, well, whoa time out? What
do you mean you don't know? Well, I just gave
it to the bank and they're doing it. And I
looked on it and Chris, there were negatives there.
Speaker 4 (33:24):
What does a negative mean?
Speaker 2 (33:25):
Well, it could be like a loss right or withdrawal
or withdrawal. But many people don't even know what they have.
And that's what you brought into my attention. You know,
you came into me and said look at this, and
I did, and I analyzed it and the client had losses.
And we've been in an up market, So what happens?
They just accounts weren't handled the right way. So that's
why the investment plan is so important, the tax plan
(33:47):
is so important, the solid security plan is so important.
What about the estate plan?
Speaker 3 (33:50):
Well, the estate plan many of you I'll ask this question,
do you have a will or a trust? And you
should have something because you should have a power of attorney,
a healthcare surrogate. These are documents that you need. They're
not expensive, but they're very expensive if you don't have
them in place. When someone passes away, and we see
this every day. People come in and say, well, gee,
my wife's in a nursing home and she doesn't we
(34:13):
don't have power of attorney. And some of you might
relate to that because then you can't do anything. Why
because then it goes through probate. What that means is
you go call an attorney and the attorneys. Are they cheap,
Chris or are they expensive?
Speaker 2 (34:23):
No, that's the thing. I mean, you have control and
they could be very expensive depending on how much you have.
And many people don't want to go through that process,
and its time, it's delays, it's costs. I mean, it's
your decision. If you don't put together the right plan,
then guess what you can fall victim to these to
these obstacles.
Speaker 3 (34:41):
You know, there's something that I always say about ensuring
your IRA or your four oh one K, and people
quiver when I say this, life insurance. Well, do you
know life insurance is an investment that's tax free that
I have my IRA insurance so when I pass away,
my family's going to get tax free money and they're
not going to have all those taxes to pay on
the IRA or the four to one K. And you
(35:02):
know why some of you are sitting out there going, well, gee,
I never heard of that because the advisor never told
you about it. That's why, because everybody fears life insurance.
And Chris, life insurance is the only one that pays
you while you're alive.
Speaker 4 (35:12):
So what's wrong with that?
Speaker 3 (35:13):
If you have tax free money to pay the bills,
so life goes on so you don't have to go
broke paying taxes.
Speaker 2 (35:17):
Well, many people don't realize is that many people just
think life insurance is a death benefits that also could
be a living benefit to help you pay for care
and long term care and accelerate the death benefit you
for tax free income.
Speaker 4 (35:28):
How do you do that? Well?
Speaker 2 (35:29):
These things we're talking about, So get the Maggie Plan.
You know, we have offices on both sides of the bay.
We do complete planning. Why because we feel that the
machine to work, it needs to work with all these
different areas. Because that's what life's about, is complete planning.
We need to put together an income plan for you
that coordinates with your taxes, with incorporates with your investments,
(35:50):
which incorporates with how you want to leave the money
upon your demise. This is the Maggie Plan. So pick
up the phone, schedule time to meet with us. Eight
three three Maggie tax I had to.
Speaker 3 (35:59):
Ask you a question and everyone out there, of all
the Maggie Plan, the tax plan, the income plan, the
investment plan, the estate plan, the insurance plan, which one
you think would be.
Speaker 4 (36:08):
The most important?
Speaker 3 (36:09):
The complete plan. What I'm saying is that's what I
just did. Is this pieces right? And they don't put
them all together.
Speaker 4 (36:16):
That's the thing.
Speaker 2 (36:16):
How can you put together a puzzle together with just
one two pieces? That's why they're all important. You need
to have the whole, all the pieces put together so
you can see the big picture.
Speaker 4 (36:26):
Is that right?
Speaker 3 (36:27):
Yeah, that's why what we do is what we do,
and we've been passionate about this.
Speaker 2 (36:32):
We've been doing it for so many years. We have
offices on both sides of the Bay. We do a
TV show every Sunday on ABC TV at ten thirty
am on ABC tune in, and obviously our radio show
why because we want to educate you. There's so much
there to talk about. So throughout today we talked about
income sequencing, when to take money out, rothology, the best
best time to do a Roth conversion. We also talk
(36:53):
about sol security maximization. So this is why it's so
important to get the Maggie Plan, income planning, tax planning,
investment planning, legacy planning, a state planning. Give us a
called eight three to three MAGI tax.
Speaker 3 (37:06):
So now you know what most retires never hear. But
knowing isn't enough. And the people who win in retirement
I said this before, are the ones who act while
they still have time. In today's show, made you think
or rethink your plan, That's what we were trying to do.
If you realize you might be exposed to hire taxes
if you want a retirement strategy built around clarity instead
of guesswork. Then this is your moment to take control.
(37:27):
Eight three to three Magi Tax. Call us today, schedule
your appointment. Operators are standing by right now, and let's
build a plan that protects your income, reduces your taxes,
and gives you confidence for the decades ahead.
Speaker 4 (37:40):
And this is what you have to do.
Speaker 3 (37:41):
And make sure you're right back here next week because
we dive into so many topics, more strategies that can
transform the way you rethink your life and your retirement.
Eight three to three Maggie Tax and unlike. Then, stay sharp,
stay proactive, and keep building the retirement that you deserve.
Eight three to three Magi Tax, Say three to three
Maggie Tax.
Speaker 1 (38:04):
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
(38:25):
and Advisors. Call them at eight three three Maggie Tax
or visit them online at maggietax dot com.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Betrayal Weekly
Betrayal Weekly is back for a new season. Every Thursday, Betrayal Weekly shares first-hand accounts of broken trust, shocking deceptions, and the trail of destruction they leave behind. Hosted by Andrea Gunning, this weekly ongoing series digs into real-life stories of betrayal and the aftermath. From stories of double lives to dark discoveries, these are cautionary tales and accounts of resilience against all odds. From the producers of the critically acclaimed Betrayal series, Betrayal Weekly drops new episodes every Thursday. If you would like to share your story, you can reach out to the Betrayal Team by emailing them at betrayalpod@gmail.com and follow us on Instagram at @betrayalpod and @glasspodcasts. Please join our Substack for additional exclusive content, curated book recommendations, and community discussions. Sign up FREE by clicking this link Beyond Betrayal Substack. Join our community dedicated to truth, resilience, and healing. Your voice matters! Be a part of our Betrayal journey on Substack.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com