July 23, 2026 • 38 mins
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Speaker 1 (00:00):
All these years you've saved up planning for a secure retirement,
but if you're not careful, it will be the irs
that is living it up when you retire by taxing
your hard earned money. Welcome to the Maggie Tax and
Financial Show with Robert and Chris Maggie of Maggie Tax
and Wealth Advisors. With over four decades of combined experience
and tax savings, income planning, and investment opportunities, Robert and
(00:22):
Chris share advice and tax planning strategies designed to protect
your retirement next day from Uncle Sam. Call them at
eight three three Maggie Tax or online at Maggie Tax
dot com and now your host for the Maggie Tax
and Financial Show. Robert and Chris Maggie.
Speaker 2 (00:41):
Welcome everyone, and thanks for joining us today. My name
is Robert Maggie and I'm here with my son Chris Magan.
You're listening to the Maggie Tax and a Wealth Advisor Show.
Be sure to visit our website, Maggie Tax dot com.
We have a lot of information there, a lot of videos,
and don't forget Every Sunday at ten thirty on ABC TV,
tune into the Maggie Tax and financial show, and again
we have a lot of information there and we're getting
(01:02):
a lot of questions from a lot of you out there,
so please just keep sending him in and we'll answer
as many as we can. So if you've ever wanted
how to grow what you earn and protect what you
save and make your money work harder for you, you're
in the right place because today's show is packed with
practical insight and we're talking about how to build assets,
(01:23):
why putting money away now can make a big difference later,
and how smart investment allocation keeps you on track, and
a powerful strategy called bucket planning that we've used with
Maggie Tax for years that helps your goals work together seamlessly,
so no guesswork, just clear, actionable ideas that you can
actually use. So grab your coffee, grab your breakfast or whatever,
(01:47):
turn up the volume and stay right there because the
Maggie Tax Show starts right now, and that's it.
Speaker 3 (01:53):
I'm Chris Maggie and welcome everyone, and I'm glad to
be here. And each and every week, you know, we
talk about educational events and things that happen to do
for retirement and also to get ready for retirement. So
there's different phases of retirement, which we'll get into, but
visit our website at Maggie tax dot com. There's so
much information right there at your fingertips. You know. We
do tax planning, income planning, investment planning. We have attorneys
(02:16):
that work with us do a state planning, so we
do complete planning. And if you're looking for a fiduciary
who can put together a plan for you and lead
you in the right direction where you can answer your questions,
that's what we could do. So pick up the phone,
schedule time to meet with us. Eight three three Maggie Tax.
So to start today's conversation, we're going to talk about
the foundation of any strong financial plan, and there's the
(02:37):
accumulation phase and then there's the distribution phase. Well, today
we're going to dive into the accumulation phase. And this
is one of those concepts that sounds complicated at first,
but once you truly understand it, everything else begins to
start making sense. So when we talk about well building,
we're not just talking about how much money comes in.
We're talking about what do you do with that money
(02:57):
once it's earned. And a lot of people have questions.
As my dad mentioned, so what do you do? So
accumulating assets is the process of making your money work
for you over time, rather than just working for money.
So let's break that down in a simple practical way.
So if you have any questions, pick up the phone,
schedule time mean with us eight three to three MAGI
tax eight three to three magi tax.
Speaker 2 (03:19):
And to make it simple, we sit down with you
and we'll go over everything. So there's a lot of
information that both Chris and I talk about. But accumulating assets,
what does it mean. It means intentionally owning things that
can grow or generate income over time. I'll repeat that asset.
It means assets that you intentionally own to grow and
(03:41):
generate income over time, because that's the key the income.
So these include retirement accounts I raise four oh one
k's four O three b's TSP, investment portfolios. Many of
you have investment portfolios and Chrys will get into that
in a minute. Businesses that you own, or real estate
that you get income from or rent from. These tools
(04:02):
that help your money work beyond just today. And Chris,
you know what, that's what people try to do. Plan
This is all part of planning.
Speaker 3 (04:10):
So you mentioned a good point here. So you have
to have assets to have income from those assets, So
you have to start somewhere, but that's what you're looking for.
You're looking to generate these assets to accumulate and then
start taking income from them. It's a great point. And
assets are different from everyday expenses because they build your
net worth instead of being used up. So while regular
(04:30):
expenses come and go, assets are designed to stay with
you and strengthen your financial picture over time. That's why
we put money away. That's why we need to have
a detailed plan on how to go about doing that
during the accumulation phase, and that's what we put together,
the investment plan, the income plan. All this comes together
with the tax plan as well.
Speaker 2 (04:50):
Now there's one big situation there that you have to consider.
The the key shift is moving from spending every dollar
to giving some dollars a long term purpose. You know,
it's like you you have a child, and you have
a baby and you feed them or her and they
grow because you want them to grow. It's the same thing.
So the mindset changes. That is what turns income into
opportunity and sets the foundation for long term you know, planning,
(05:13):
because I can tell you this. People don't come in
and they don't have a plan because they don't understand.
And even our show that we talk about, we've educated
quite a few people and they sit back and they
help both Chris and I. You know, it wasn't for
your show and talk about the word planning. I don't
think we have a plan.
Speaker 3 (05:29):
Well, that's it, and that's what it's about. A plan
and plan can mean so many different things. You know,
do you have one? Do you have assets? Well, you
need a plan to make sure you are investing in
the right buckets and have a tax plan as well,
making sure that all your buckets and your assets pass
so time is one of your strongest advantages because assets
benefit from compounding.
Speaker 2 (05:49):
Many people talk about this.
Speaker 3 (05:50):
You know, my kids, we put money away from the
day they were born, right, so by the time they
have an opportunity to go to college, they have money
to do it and spend them the right way. So
compounding allows growth to build on top of growth. And
that's why we call it compounding. Interest right making early
and patient investing especially, it's powerful when you have a plan,
(06:14):
and that's what we're talking about today. Accumulating assets. So
pick up the phone, schedule time to meet with us
eight three three mag attacks. We're talking about time, and
also too, it doesn't have to be a baby, it
could be any time. Sure you know now is the
time to do something, because I guarantee you, even if
you're fifty, even if you're sixty, if you start putting
money now, five years from now, you look back and say,
(06:35):
that's great, I had time on my side.
Speaker 2 (06:36):
Well, a good point there, and it's a word consistency.
Consistency matters more than perfection when building assets. And I'll
give an example what Chris mentioned. Small regular contributions made
consistently can lead to meaningful results without needing big, one
time investments. And I think that's what people get worried, Wow,
I don't have enough. But you know what, you say
(06:57):
this all the time. If you put a child like
you have your two kids, put money away each month,
five dollars, ten dollars, fifty dollars, it starts to accumulate.
And Chris, the keyword is compounding. And people don't really
see the power of compounding later on when you get
to be forty to fifty sixty, when.
Speaker 3 (07:13):
You're retired, that's it. So you want to feed it.
That's the biggest thing. You know, people get bigger because
they get fed, right, So you could do the same
thing with your assets, and we can show you how
to do that. That's why when you come on in,
and also to incorporate the tax side of this, there
are tax advantage strategies to put money in so you
have tax benefits. So it's not just put money away,
(07:34):
that's the basic comment. But when you work with an
advisor who does complete planning, then they start incorporating really
dynamic plans for yourself where you can have tax advantage
income because that's the name in the game. You want
to make sure that you have income in a most
tax efficient way. So over time, acumulating assets creates stability, right,
(07:56):
it creates flexibility and also confidence. And when you have
confidence and a thing you do, it's going to work.
You know, as assets grow, they provide more options and
help you plan the future with less stress and more control.
And that's what we're showing you here when you come
in to meet with us. We're going to show you
the confidence, the control that you have, the flexibility putting
(08:16):
together buckets, the right weight how do you feed these
buckets so they grow? How do you feed these buckets
so they provide income in the future. And it doesn't
matter how old you are. It's about if you want
to put together a plan, what's here. It's about helping you.
So pick up the phone, schedule a time to meet
with us Maggie Tax and Wealth Advisors. That's what we
do Maggi Tax dot com. There's so much information rate
at your fingertips.
Speaker 2 (08:37):
My gosh.
Speaker 3 (08:38):
When you put together a plan and you look back,
you're so glad that you did and it makes you
feel good and that's what develos the confidence. So a
three three Maggie tax.
Speaker 2 (08:46):
So basically that's the foundation that we're talking about accumulating assets.
It's not about flashy moves or overnight success, and it
could be, but it's not. It's about putting your money
in positions where it can actually grow over time. And
that's why with an advisor like Maggie Tax Advisory and
showing you the bucket planning and how to put money
(09:06):
away strategically is going to help you have a nice retirement.
But here's the big question, how do you even get
the money to start building those assets. That's a true question,
but that's where the real habits come into play. And
coming up next we'll to talk about the importance of
putting money away. But I want to go back. The
problem that most people have is that they don't have
the habit Chris, or the consistency of say, look, let
(09:30):
me take twenty bucks a week away out of it,
you can talk about this, how you pay yourself first,
because if we do that, and you just do it
continuously and religiously and make it a habit, it's going
to be fine. It's going to give you something that
you probably never had or thought you could get.
Speaker 3 (09:47):
Well, that's the thing I mean. If you pay yourself
first and think about this. You know, if you're making
five thousand dollars a month, it's coming in, so you
got to have expenses. But if you can really start
thinking about paying yourself first, then the expense second, that's
where the whole mind shift just gets clearer and clearer
for yourself and the confidence builds. So if you could
(10:08):
put away that five hundred to one thousand a month
and live off of four then that's a good thing.
And can you do that or can you not? That's
why It's so important to do a budget plan. So
when you pick up the phone, schedule time to meet
with us. We can look at the budget for you
whether you're in retirement or approaching retirement. These are things
that we do in complanning, tax planning, investment planning, and
social security maximization planning. My gosh, just stay planning. So
(10:30):
coming up next, we're going to talk about the importance
of putting money away and why even small steps can
make a big difference down the road. You don't want
to miss this. Stay tuned. You're listening to the Magi
Tax and Financial Show.
Speaker 1 (10:46):
Stop funding Uncle Sam's retirement and start planning for your
own successful retirement. As we return to the Maggie Tax
Financial Show with your host Robert and Chris. Maggie with
Maggie Tax and Wealth Advisors. For information on how you
can create a tax free retirement, call eight three three
Maggie Tax or visit Maggie Tax dot com. Now you're
(11:09):
host with Maggie Tax and Wealth Advisors, Robert and Chris Maggie.
Speaker 3 (11:13):
Welcome back and you listen to the Magi Tax and
Financial Show, and we're talking about the importance of putting
money away. And accumulating assets. So now that we've talked
about building assets, let's rewind just a little bit. Because
for what we our money can grow, it has to
be set aside. And this is where a lot of
people get stuck because saving doesn't always feel exciting, and
(11:34):
it's often the first thing that you know, we get
pushed aside when life gets busy and we all been there,
you know, money comes in and then we're like, I
don't want to put that away. I want to spend
it on something else. But putting money away is one
of the most powerful financial habits that you can build.
It's like really good health if you can do it,
and you can structure eating right and also having good
(11:57):
habits financially, it creates opportunity, flexibilit and also what we
all want, peace of mind. And it doesn't require a perfection,
that's the thing about it. So let's break down why
this simple habit matters so much. Let's dive into that.
Speaker 2 (12:09):
I made a lot of good points there, But putting
money away first before you spend it turn saving into
a habit, not an afterthought. So when saving happens after bills,
groceries and impulse purchases, it often doesn't happen at all
because you just don't do it simple. So by paying
yourself first, whether that's through automatic transfers or payroll deductions,
(12:31):
you remove a motion from the process and make saving
part of your routine, just like paying the electric bill.
And that's a good point. Make it part of your
electric bill. Make it part of your utility bill, make
it part of the bill you have to pay for
your credit card. Make saving part of your bill, and
you know, put that in your every day that it's
got to be their bucket and you're going to continually
(12:51):
do it. It's when you don't do it, Chris that
you said, like you know, I'm gonna buy that, I'm
gonna go out tomorrow for dinner and pay some more money,
or I'm going to buy something. WHOA, Just stop a second,
because you need to say no, I have to put
money away to save. That's a bucket, right, absolutely.
Speaker 3 (13:08):
And you know when I went to college, I remember
a long time ago two things that I remember. One
cash is king and the second thing is pay yourself first, right,
And it resonates with me each and every day, especially
in this field. You know, we're talking about this creating
good habits. But you made a great point because a
lot of people do what they pay their bills online, right, Well,
(13:29):
that's true, well, and that's they want to write the checks,
right and the stamps. But a lot of people don't
do that anymore. Some people do, which is fine. But
what they do online is the automatic bill pay. So
you can have an automatic bill pay to yourself, as
you mentioned right, it can go to your investment account
each and every month, you know, every quarter, every year,
whatever it is, So you can set that up so
(13:51):
you can automatically do it. So even a small consistent
contribution can grow into something meaningful over time. So saving
doesn't reques are big dollars to be effective. You don't
have to wait for that lump sum to go put
it away, you know. There. If that happens, you need
to really get in touch with us because of the
tax consequence.
Speaker 2 (14:09):
Right.
Speaker 3 (14:09):
But regular contributions, even modest ones, can compound and build momentum.
It's consistency that matters. So you pay yourself first. Cash
is king. Consistency is what matters.
Speaker 2 (14:23):
Well, you mentioned something and it's kind of part of
what we're talking about here today. But you have to
have automatic bill pay. So you have to have money
in the bank to pay your utility bill, your gas bill,
your rent. Okay, why can't you? And I know you can,
and you can talk about this. Set up an automatic
pay from your account to go into your savings account.
We do that all the time for clients. And think
(14:44):
about it. It's not stupid, it's smart. And you wait
a minute, I didn't think about that. So what if
you just said, take fifty bucks out of your savings
and put it into you know, a savings account and
or a retirement account that we could help you with,
and it's done. And then over time when you look
back and go wow. And this is the thing, Chris,
that I that I always say. You know, you got
to teach the children. You got to teach the kids
(15:04):
how to save, because they don't know how to save.
They know how to spend. I got that money, I
can buy that xbox or I could buy that tape
or whatever. Please just stop a second, you know, and
I do it myself. You know, Do I really need that?
Do I want that extra you know, drink or anything
like that. No, you don't. Do I want to eat
that extra hamburger? No, you don't but that's when you
(15:26):
have to have discipline. And that's what we're talking about here,
because you can save, there's no question you can't you
just and then the other word I would say, Chris,
is a budget. They don't have a budget, and in
your budget you should have what a savings. That's exactly right.
So what's the problem here? Now, that's the thing.
Speaker 3 (15:42):
Well, people aren't disciplined, and that's okay, it happens, right,
but what do you do? So you can't start over,
But what you can do now is start now. And
that's why it's so important to put together a plan.
So I pick up the phone, schedule time to meet
with us. You know, visit our website at Maggie tax
dot com. There's so much information right there at your fingertips.
But you know we do incomplaining tax planning, investment planning,
budget planning, state planning. That's what we're talking about here.
(16:05):
And having money set aside protects you when life throws
you surprises as well. Right, you know, emergencies don't they
don't get scheduled. You know, they don't schedule themselves. It
happens without savings, right, they often turn into debt. That's
the scary point. You know, an emergency fund helps cover
things like car repairs, medical bills, air conditioning costs, right,
(16:26):
temporary loss of income. So keeping small problems from becoming
long term financial setbacks. And that's what we want to avoid.
So when you put together a plan. I know we're
talking about putting money aside, there's also money that we
have to put aside for that liquid money for those
for the set aside costs that we're talking about. You
know that everyone will go through a flat tire.
Speaker 2 (16:47):
What do you do?
Speaker 3 (16:47):
You know, when ac goes down? How do you deal
with all this? And we can help, So pick up
the phone, schedule time to meet with us.
Speaker 2 (16:53):
You know, one example I can give you this is
because we do taxes and we see people every every
day coming into taxes. But you are required to pay
quarterly taxes, right, so you're required to put a certain
amount of way every quarter because if you don't guess
what you have, you have a penalty at the end
of the year and interest and everybody gets all, you know,
crazy about it, like why because you have to pay
(17:15):
the government first, So do it this way. You're the government.
You have to pay yourself first. Why can't you do
the same thing? Am I right? That's exactly right.
Speaker 3 (17:23):
So saving creates confidence, flexibility, and who you've talked about before,
peace of mind. So when you know that you have
money set aside, decisions, they feel less stressful. You know,
even if you wants something, you have money set aside
to go buy it because you're disciplined enough to do that.
But don't go work the other way, don't spend before
you have and you know you're not reacting, you're choosing,
(17:43):
and that's the good thing. So that's where that confidence
allows you to plan, invest, and also move forward knowing
that you're prepared, not just hoping that everything works out.
So I think of the phone, schedule a time to
meet with us eight three to three maggie tax. That's
eight three to three magi tax.
Speaker 2 (17:57):
So that's the power of putting money away. I hope
that made sense to all of you. It's not about
what you give up today, it's about what you gain tomorrow.
And a little discipline now can mean a lot more
freedom later. So, you know, we talk about a lot
of things, income planning, tax planning, you know, and this
is it too, savings. What are you going to do
to budget yourself, and you know, we want to make
sure that everybody is on the right page, So give
(18:17):
us a call eight three to three Maggie Tax. And
coming up next, we're going to dive into investment allocation,
how to decide where your money should live, how much
risk makes sense for you, and why the right mix
matters more than you think. So don't go anywhere because
the Maggie Tax Show is getting started and there's a
lot of good things here. Eight three to three Maggie Tax.
You're listening to the Maggie Tax and Financial Show.
Speaker 1 (18:43):
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
three Maggie Tax or visit Maggie Tax dot com. Now
(19:05):
you're host with Maggie Tax and Wealth Advisors, Robert and
Chris Maggie.
Speaker 3 (19:10):
Thanks for tuning into the Maggie Tax and Financial Show.
And I'm Chris Maggie. I'm here at my dad and
co host of the show. Robert Maggie in visit our
website at Maggie Tax dot com. There's so much information
right there. And also on Sundays on ABCTV at ten
thirty watch our show. It's thirty minutes. It's right there.
We educate a lot of people on different topics. Why
because when's the last class you had on these topics?
(19:33):
You know most people don't, and it's there for you.
Just pick up the phone schedule time to meet with us.
We have office on both sides of the Bay, so
visit our website for those locations and we look forward
to meeting you eight three to three Maggie Tax.
Speaker 2 (19:45):
And a few more things. I'd like to remind all
of you that we do seminars every month. Go to
our website Maggie Tax, and you can register right there online.
We do four a month. There are different locations and
they're educational like we do here with the show. So
if you have time, look at the top, look at
the locations and give us a call and register. I'm
sure you're going to like it. So now that you're
saving and building assets that we've been talking about, let's
(20:07):
talk about what might be the most misunderstood part of investing,
and this has to be to me, one of the
most misunderstood. It's investment allocation. And this isn't about picking
the perfect investment, which is guessing what the market will
do next. Allocation is really about balance. It's about what
you have in your account where it's balanced, whether it
(20:27):
be lower risk, medium risk, or high risk. And think
of it like a financial recipe. The right mix matters
more than any one ingredient. So when your allocation is
set up correctly, guess what your money can work effectively
while helping you sleep a little better at night, because
I know I think a lot of things at night
and I start thinking what did I do wrong? But
so let's break it down, Chris, you know, and way
(20:50):
in a way that actually makes sense because we try
to make it simple and easy to understand. Well, that's it.
Speaker 3 (20:54):
I mean, wrote a book Stop Funding on Uncle Sam's
Retirement and create a plan that's simple and easy for
you to understand. And so if you want that book,
feel free to give us a call, schedule time to
come in and we'll give you that book.
Speaker 2 (21:05):
It's a great read.
Speaker 3 (21:06):
Or go to Amazon and go grab one Stop Funding
Uncle Sam's Retirement. But talk about this as you know,
the investment allocations. So investment allocations is simply how your
money is divided among different types of investments. So this
might include stocks, equities, or bonds or they call debt
cash or other assets. It could be annuities, it could
(21:28):
be CDs, it could be a checking savings money market.
Then each plays a different role. Some focus on growth,
others focus on suitability or other income. And we talked
about this early early on in the show. That you
accumulate assets to one day take income from them, and
that's why it's so important to make sure that you
have the right strategy, and that's what we can help
eight three to three Maggie tax.
Speaker 2 (21:49):
One more thing I think that goes with that. We
talk about red money, green money, how much safe money
you have and how much risky money you have. So
it still ties into what your allocations ought. But the
right allocation balances growth potential with risk is what I
just talked about. How much risk do you really want
to take or do you think you're taking, and how
much do you want, you know, to protect in case
(22:10):
something goes down. So too much risk can make your
portfolio feel like a roller coaster. Every time it goes
up and down, and we all know that while too
little may limit long term progress, we get people say, well,
you know, I'm not making a lot, but I don't
want to take a lot of risk. Well you can,
you can have both worlds, but allocation helps find that
middle ground that you that you fit into. Christen, you
(22:31):
do this with every client because that's a question I
know you ask them, and I can tell you that
a lot of them they don't know how to answer.
Speaker 3 (22:37):
That question well, because they really aren't educated in that,
and that's what our job is to do.
Speaker 2 (22:42):
We can help you.
Speaker 3 (22:43):
And we talked about the rule of one hundred, where
you know how much do you have in red money
which is risky, or green money that's safe. And every
client is different and that's why when you come inet
with us, we'll walk you through that, we'll explain that
to you, will educate you. So your time horizon plays
a big role in how you're investments should be allocated,
because money needed sooner usually leans more with conservative investments,
(23:07):
while longer term goals can afford to be more growth
oriented and can weather the market ups and downs. And
we talk about this, we talk about now money later, money,
never money. Has your advisor ever talked about that, because
a lot of advisors they do is just say, hey,
let me invest your money in this and that's it. Well,
there's more to that. There's now money, later, money, never
(23:28):
money buckets. So when you come to meet with us,
we're going to show you those buckets of money, and
we can show you how to invest those buckets based
on what your risk tolerance is and what you're looking for.
So some of the longer term money can weather those storms,
while some of it's safer money, the now money you
need for income or for expenses, or for other things
(23:49):
that you want on a short term basis.
Speaker 2 (23:51):
It's got to be balanced. I mean, it's got to
be both ways. We've had clients come in a husband
and wife and once we look at their portfolio, we
do the risk analysis. The the husband doesn't, you know,
really do it or watch it, and the wife doesn't,
and now they're in high risk and they both say, well,
I don't want to be in high risk. But that
means that your advisor is not sitting down and doing
you know, that kind of look for you. That's what
(24:12):
we do. So allocation isn't something that you said once
and forget it. That's another problem, Chris. A lot of times,
a lot of the clients come in, they don't do
any allocations for years, and they go, well, gee, I'm
not making money. Well did your advisor sit down and
do something an allocation change? Because as life changes, goals evolve,
and markets move, we all know that portfolios need checkups,
(24:35):
just like you and I. I mean, I went to
the doctor a couple of weeks ago for a checkup
and I had to but stay aligned, just like anything
else that needs maintenance we all do. It's the same
thing with your accounts. It's just not going to be
done on its own. Right, Well, let's just stay on
that time. That's a great point, and I'll tell you why.
Because many portfolios that we see, the allocation doesn't change.
(24:56):
So if you met with your advisor sixty years ago,
we've come across many times that there's been no allocation change. Now,
people say, well, is that the way it's supposed to be? Well,
wouldn't you want a team actively managing the money. So
when they see dips, they maybe go discount shopping and
buy things at a lower point, maybe things are higher,
(25:17):
Maybe they sell things that capture gains and then invest
in something else, you know, because there's ups and downs,
so why not capture where the trends are going. So
diversification within an allocation helps smooth out market surprises. And
that's one of the things that many people over use
that word diversification of diversified. Well, you can be over
(25:39):
diversified sometimes. So when one part of the market is
having a rough day, another market part of the market
may be holding steady, and that's where you need active management.
And that's where many people, when they have the ability
to do these certain types of investing, it helps reduce
the urge to panic or react emotionally. So when you
get a chance, visit our website at MAGA tax dot com.
(26:00):
Pick up the phone, schedule time to meet with us.
Let's let's put together your investment allocation plan. Let's review it.
You know, we talk about your investment portfolio. Let's get
a second opinion. Take up the phone, schedule time to
meet with us. AID three three Maggie Tax. And you
know one thing that goes along with this is the
you know, the tax planning, the income planning, the investment planning,
(26:21):
you know, everything that goes along with and not just
one thing. So you know, a well planned allocation helps
you stay focused on the big picture. And the cool
thing I like is that when you get a husband
and wife, you know, the wife might say, well, you know,
I don't I don't know anything about it, but then
you want to sit down and you explain it to them,
and then they start to realize they need to know
something about it. So it's very important. So instead of
(26:41):
reacting to headlines like a lot of people do or
short term noise, you're working from a strategy designed to
support long term success and confidence. And I think that's
got to be that way, don't you think that? Absolutely?
Speaker 3 (26:52):
And that's why when you come and meet with us,
we're going to put the other plan confidence. We talked
about that multiple times in this show today. Confidence. How
to get the confidence? Well, when you have a plan, right,
you know, if you're going to play a sport, you
can't just wake up and just play it once a
week and think you're going to be really good at it.
And there's some rare occurrences of that, but for the majority,
it doesn't work that way. Same thing in relation to
(27:14):
the investment side, Yes, some people are going to pick
the right stock and sit on it and be wealthy
very very quick. But it doesn't happen with ninety five
ninety eight percent of the people out there. And that's
why when if you think of yourself as one of
the ninety eight percent of the people with your money,
you know you can be speculative with some of it.
(27:35):
But when you want a plan and you put together
the right plan that consists of income and taxes planning
and investment planning and making sure that you have bucket diversification,
my gosh, how unique is that.
Speaker 2 (27:49):
So let me throw something in here that everybody asks
us for because someone has to manage it, right, whether
it be you or someone And they always come across, well,
what's the fee? I mean, is there a legitimate and
fee that should be charged for portfolio management crysal or
is it way expensive or not expensive at all? What
do people expect?
Speaker 3 (28:08):
Well, that's the thing. You know, when you want to
do something and you go shopping, there's a fee for it.
You need to pay for goods and services that you
feel are worth it. Right, So if you want to
go to the store and expect that you could just
pick it up for free, then think about it. Really
how strong is that product? So when you meet with
(28:30):
a financial advisor, do some people they make commissions when
they when they put you in products. And then when
you work with a fiduciary or someone who's actively managing money,
they can charge a fee for active management. Now that
can range in different portfolios. And that's why when what
we're saying here is if you have an investment account,
I don't care if it's an IRA, a form and
(28:51):
K step plan or an investment brokerage account or roth IRA.
Why don't you grab that statement, pick up the phone,
schedule time the meet with us, give our offices a
call eight three to three, Maggie Tax. Let's analyze that
for you. Let's see what the wealth division that we
have here can show you what type of risk you're taking.
And also if you're diversified or even if you've ever
(29:13):
had an asset allocation strategy, can.
Speaker 2 (29:16):
Fees be changed? Can fees be different than different portfolio managers? Absolutely?
Speaker 3 (29:22):
And you know we uncover that. That's one of the
things we do well. We just give a quick example.
Last week we met with two clients that we analyzed
a brokerage account and we found out that one guy
was paying two point seven percent fees. The other guy
had a different type of product and he was three
point eight percent fees. And I explained it to him
and he said, I had no idea. He said, that's
(29:42):
the reason why my account's not growing, right. So I
broke it down and I showed him and he said,
that's not where I want to be. So that's why
it's so important to pick up the phone, schedule a
time to meet with us. Eight three to three Magi tax.
So when it comes to investing, it's not about betting
everything on one horse. It's about building a line up
that works together. And that's the power of smart allocation.
(30:03):
But here's where it gets even better. What if your
investments didn't all have the same job. What if each
dollar had a purpose. So coming up next, we're going
to talk about bucket planning, a simple way to organize
your money based on different goals and timelines. So stick around.
The Maggie Tax and Financial show is right here. Eight
(30:26):
three three Maggie tax. Pick up the phone, schedule time
to meet with us eight three three Maggie Tax. That's
eight three to three Maggie tax.
Speaker 1 (30:34):
Stop funding Uncle Sam's retirement and start planning for your
own successful retirement. As we return to the Maggie Tax
Financial Show with your host Robert and Chris Maggie with
Maggie Tax and Wealth Advisors. For information on how you
can create a tax free retirement, call eight three three
Maggie Tax or visit Maggie Tax dot com. Now your
(30:56):
host with Maggie Tax and Wealth Advisors, Robert and Maggie.
Speaker 2 (31:01):
Welcome back to the Maggie Tax and Financial Show. I
am Robert Maggie and I'm here with my son and
co host Chris Maggie. And today we've been talking about
an awful lot. But go to our website, Maggie Tax
dot Com. The shows are archived. You can always look
to listen when you want, when you have time, and
don't forget Every Sunday on ABCTV our show, The Maggie
Tax and Financial Show with ten thirty. So just kind
(31:21):
of regroup here today. If you just tuned in, you
can listen to the show again. But we've been talking
about accumulating assets, which is very important to a lot
of people. What about the importance of putting money away,
So we try to help people understand how to save
and then investment allocation, because that probably affects most of
the people listening to our show today. But Chris, the
bigger one that I think that we need to talk about,
(31:42):
because we always talk about it, is bucket planning with
different investment objectives and how does that work? And where
do we show that to people when they come in?
Speaker 3 (31:51):
All right, so now let's wrap up everything together with
a strategy that gives your money some organization without making
it complicated. And that's the whole goal. This is called
bucket planning, and it's one of the easiest ways to
make sense of your financial goals. Instead of one big
pile of money trying to do everything at once, bucket
planning gives each dollar a clear job. And if everyone's
(32:12):
doing the right job, then guess what everyone benefits. It's
called it being a team player, right team. Think of
it like organizing your closet. Right, everything has its own place,
and suddenly life feels a lot more manageable. And we
talk about confidence, right, goes back to the confidence word,
because that's what it's about. So throughout what we're talking
about here, bucket planning, stay tuned with it, because pick
(32:34):
up the phone Throughout today's show, dial our number eight
three to three meg attacks company with us. We'll show
you how to take that pile or those piles of
money and create buckets of money.
Speaker 2 (32:42):
Now, you mentioned something about a closet. I'm not sure
we want to use a closet as an example, but
you know, you got to think a little funny out there.
But bucket planning what it means separating your money based
on when you'll need it and what it's meant to do.
Chris always talks about the word of purpose. So short
term needs, midterm goals, and long term growth each get
their own bucket. So money meant for the next year
(33:05):
isn't taking the same risk as money meant for twenty
years from now. And that's the problem that you have,
most of you about planning what you need now, what
you need later, and what you're going to need for
retirement because you need to take that money we talked
about before. It's putting a certain amount of way for
each kind of bucket, and that's important to a lot
of people out there.
Speaker 3 (33:24):
That's it, you know, a purpose, right, That's what we're
discussing here. Each bucket has a different investment objective, and
risk level. So when you come to meet with us,
so we're going to look at your risk I'm going
to show you are you conservative? Are you aggressive? Are
you a balanced investor? Are you monitorly a growth? Where
are you? That's what we're going to go through with
you because you need to know and we have the
questions to ask you so we can help you. And
(33:46):
that's wh when you come in, because you need to understand.
Haven twitter start and we're going to show you. So
some buckets focus on safety and accessibility, while others are
designed for growth. As my dad mentioned, But this way,
your money isn't confused, and neither are you. When market
markets fluctuate, many people come in and they say, oh
my gosh, I must be down like forty percent. No
(34:06):
you're not because when you do bucket planning, you know
maybe one of your bucket if the market went down
a lot, it's effective, but the other ones are not.
So when your overall portfolio could be could be really
good in markets that go down.
Speaker 2 (34:20):
So you mentioned something if your money is confused, do
you think they talk to one another? You're risky.
Speaker 3 (34:26):
I'm not.
Speaker 2 (34:26):
I'm safe.
Speaker 1 (34:27):
You are.
Speaker 2 (34:28):
I'm just saying because this is what goes on here?
Make a cartoon out of this. Yeah, I think we
should put on a TV show again. But this approach
helps reduce emotional decision making, and that's what comes down to.
So think about it. When markets are up or down,
Bucket planning reminds you that not all dollars are reacting
the same way. That clarity makes it easier to stay
calm and stick with the with the plan instead of
(34:49):
or reacting emotionally, because that's what people do. They react
emotionally because the market's up, everybody should be up. No,
that's not true. But when the market's up, you should
maybe keep some of your gains so in case the
market goes down, you got the money. They are protected, right, So,
I mean that's important right now.
Speaker 3 (35:04):
That's why investment planning is so important. That's why I
pick up the phone. It's get a ton of meet
with us. Let's get a second opinion on your investments.
Let's look at your portfolios. Maybe you're doing it yourself.
Maybe you're tired of doing that. Maybe you had advised
that you moved and you want a different allocation. We
had a client that came in last week and she's
from Georgia, and she came in and she said, you
know what, it's time for me to start moving my
(35:24):
money in the right buckets. And I said, what'd you say,
and she said, yeah, I mean I've heard your show
multiple times. She said, I understand where you're coming from,
and that's what I want. So this approach helps reduce
emotional decision making when you have a plan, because when
markets are up or down, bucket planning reminds you that
not all dollars are reacting the same way, and that
clarity makes it easier to stay calm and stick with
(35:46):
the plan instead of reacting emotionally. And my dad mentioned
that before reacting emotionally because many people freak out, yea,
many people don't have to freak out. So bucket planning
brings structure, the confidence and peace of mind to your
financial plan. So the other phone schedule time to meet
with us eight three to three, Maggie tax. When you
do bucket planning, you know what money is available now,
(36:09):
what's working towards the future, and also what's grown quietly
in the background, and making the entire plan feel intentional
and easy to follow, like our plan, simple and easy
to understand.
Speaker 2 (36:20):
So there you have it, no guessing, no juggling, just
giving your money clear jobs like you're supposed to and
letting each bucket do its own thing. So when every
dollar knows where it's going, planning starts to feel a
lot less stressful and a lot more doable. So that's
bucket planning and action, and it's how all the pieces
we talk about today and every week finally come together.
(36:40):
And you know, I want you to understand, this is
what you folks need to think about a little bit
out of the box, a little bit different here. You know,
the bucket planning is worth you know, looking at and
there's so much there. That's why you need to make
an appointment. Give us a call eight three to three, Maggie.
Speaker 3 (36:56):
Tax That's that's exactly right, because you need a plan.
So today we talked about some big ideas, building assets,
putting money away, investing with purpose, and also organizing your
goals so your money isn't all trying to do the
same job. And if there's one takeaway in this as
financial progress doesn't come from doing everything at once. It
comes from taking the right next steps. So no matter
(37:18):
where you're starting, it could be you know, early or
later there's a path forward. With the right plan, clear
goals and guidance you can trust, your financial future can
feel less overwhelming and a lot more hopeful. So if
today's conversation spark questions, or if you're ready to turn
these ideas into a plan that fits your life, we're
here to help. Give us a call and start the conversation. Now,
(37:38):
pick up the phone, schedule time to meet with us.
Eight three to three Magi Attacks. Because when your money
has direction, your future has confidence. Thanks for listening to
the Magi Tax and Financial Show. Eight three to three
Magi Tax. That's eight three to three Magi Tax and
don't forget Every Sundy on ABC TV, tune in ten
thirty for the Magi Tax and Financial Show.
Speaker 1 (37:58):
Thank you for listening to mag 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 n till noon every Sunday, or any time
on the free iHeartRadio app. And remember you can pay
less tax with Maggie Tax Program. Content provided by Maggie
(38:18):
Tax Wealth and Advisors. Call them at eight three three
Maggie Tax or visit them online at maggietax dot com.
All these years you've saved up planning for a secure retirement,
but if you're not careful, it will be the irs
that is living it up when you retire by taxing
your hard earned money. Welcome to the Maggie Tax and
Financial Show with Robert and Chris Maggie of Maggie Tax
and Wealth Advisors. With over four decades of combined experience
and tax savings, income planning, and investment opportunities, Robert and
(00:22):
Chris share advice and tax planning strategies designed to protect
your retirement next day from Uncle Sam. Call them at
eight three three Maggie Tax or online at Maggie Tax
dot com and now your host for the Maggie Tax
and Financial Show. Robert and Chris Maggie.
Speaker 2 (00:41):
Welcome everyone, and thanks for joining us today. My name
is Robert Maggie and I'm here with my son Chris Magan.
You're listening to the Maggie Tax and a Wealth Advisor Show.
Be sure to visit our website, Maggie Tax dot com.
We have a lot of information there, a lot of videos,
and don't forget Every Sunday at ten thirty on ABC TV,
tune into the Maggie Tax and financial show, and again
we have a lot of information there and we're getting
(01:02):
a lot of questions from a lot of you out there,
so please just keep sending him in and we'll answer
as many as we can. So if you've ever wanted
how to grow what you earn and protect what you
save and make your money work harder for you, you're
in the right place because today's show is packed with
practical insight and we're talking about how to build assets,
(01:23):
why putting money away now can make a big difference later,
and how smart investment allocation keeps you on track, and
a powerful strategy called bucket planning that we've used with
Maggie Tax for years that helps your goals work together seamlessly,
so no guesswork, just clear, actionable ideas that you can
actually use. So grab your coffee, grab your breakfast or whatever,
(01:47):
turn up the volume and stay right there because the
Maggie Tax Show starts right now, and that's it.
Speaker 3 (01:53):
I'm Chris Maggie and welcome everyone, and I'm glad to
be here. And each and every week, you know, we
talk about educational events and things that happen to do
for retirement and also to get ready for retirement. So
there's different phases of retirement, which we'll get into, but
visit our website at Maggie tax dot com. There's so
much information right there at your fingertips. You know. We
do tax planning, income planning, investment planning. We have attorneys
(02:16):
that work with us do a state planning, so we
do complete planning. And if you're looking for a fiduciary
who can put together a plan for you and lead
you in the right direction where you can answer your questions,
that's what we could do. So pick up the phone,
schedule time to meet with us. Eight three three Maggie Tax.
So to start today's conversation, we're going to talk about
the foundation of any strong financial plan, and there's the
(02:37):
accumulation phase and then there's the distribution phase. Well, today
we're going to dive into the accumulation phase. And this
is one of those concepts that sounds complicated at first,
but once you truly understand it, everything else begins to
start making sense. So when we talk about well building,
we're not just talking about how much money comes in.
We're talking about what do you do with that money
(02:57):
once it's earned. And a lot of people have questions.
As my dad mentioned, so what do you do? So
accumulating assets is the process of making your money work
for you over time, rather than just working for money.
So let's break that down in a simple practical way.
So if you have any questions, pick up the phone,
schedule time mean with us eight three to three MAGI
tax eight three to three magi tax.
Speaker 2 (03:19):
And to make it simple, we sit down with you
and we'll go over everything. So there's a lot of
information that both Chris and I talk about. But accumulating assets,
what does it mean. It means intentionally owning things that
can grow or generate income over time. I'll repeat that asset.
It means assets that you intentionally own to grow and
(03:41):
generate income over time, because that's the key the income.
So these include retirement accounts I raise four oh one
k's four O three b's TSP, investment portfolios. Many of
you have investment portfolios and Chrys will get into that
in a minute. Businesses that you own, or real estate
that you get income from or rent from. These tools
(04:02):
that help your money work beyond just today. And Chris,
you know what, that's what people try to do. Plan
This is all part of planning.
Speaker 3 (04:10):
So you mentioned a good point here. So you have
to have assets to have income from those assets, So
you have to start somewhere, but that's what you're looking for.
You're looking to generate these assets to accumulate and then
start taking income from them. It's a great point. And
assets are different from everyday expenses because they build your
net worth instead of being used up. So while regular
(04:30):
expenses come and go, assets are designed to stay with
you and strengthen your financial picture over time. That's why
we put money away. That's why we need to have
a detailed plan on how to go about doing that
during the accumulation phase, and that's what we put together,
the investment plan, the income plan. All this comes together
with the tax plan as well.
Speaker 2 (04:50):
Now there's one big situation there that you have to consider.
The the key shift is moving from spending every dollar
to giving some dollars a long term purpose. You know,
it's like you you have a child, and you have
a baby and you feed them or her and they
grow because you want them to grow. It's the same thing.
So the mindset changes. That is what turns income into
opportunity and sets the foundation for long term you know, planning,
(05:13):
because I can tell you this. People don't come in
and they don't have a plan because they don't understand.
And even our show that we talk about, we've educated
quite a few people and they sit back and they
help both Chris and I. You know, it wasn't for
your show and talk about the word planning. I don't
think we have a plan.
Speaker 3 (05:29):
Well, that's it, and that's what it's about. A plan
and plan can mean so many different things. You know,
do you have one? Do you have assets? Well, you
need a plan to make sure you are investing in
the right buckets and have a tax plan as well,
making sure that all your buckets and your assets pass
so time is one of your strongest advantages because assets
benefit from compounding.
Speaker 2 (05:49):
Many people talk about this.
Speaker 3 (05:50):
You know, my kids, we put money away from the
day they were born, right, so by the time they
have an opportunity to go to college, they have money
to do it and spend them the right way. So
compounding allows growth to build on top of growth. And
that's why we call it compounding. Interest right making early
and patient investing especially, it's powerful when you have a plan,
(06:14):
and that's what we're talking about today. Accumulating assets. So
pick up the phone, schedule time to meet with us
eight three three mag attacks. We're talking about time, and
also too, it doesn't have to be a baby, it
could be any time. Sure you know now is the
time to do something, because I guarantee you, even if
you're fifty, even if you're sixty, if you start putting
money now, five years from now, you look back and say,
(06:35):
that's great, I had time on my side.
Speaker 2 (06:36):
Well, a good point there, and it's a word consistency.
Consistency matters more than perfection when building assets. And I'll
give an example what Chris mentioned. Small regular contributions made
consistently can lead to meaningful results without needing big, one
time investments. And I think that's what people get worried, Wow,
I don't have enough. But you know what, you say
(06:57):
this all the time. If you put a child like
you have your two kids, put money away each month,
five dollars, ten dollars, fifty dollars, it starts to accumulate.
And Chris, the keyword is compounding. And people don't really
see the power of compounding later on when you get
to be forty to fifty sixty, when.
Speaker 3 (07:13):
You're retired, that's it. So you want to feed it.
That's the biggest thing. You know, people get bigger because
they get fed, right, So you could do the same
thing with your assets, and we can show you how
to do that. That's why when you come on in,
and also to incorporate the tax side of this, there
are tax advantage strategies to put money in so you
have tax benefits. So it's not just put money away,
(07:34):
that's the basic comment. But when you work with an
advisor who does complete planning, then they start incorporating really
dynamic plans for yourself where you can have tax advantage
income because that's the name in the game. You want
to make sure that you have income in a most
tax efficient way. So over time, acumulating assets creates stability, right,
(07:56):
it creates flexibility and also confidence. And when you have
confidence and a thing you do, it's going to work.
You know, as assets grow, they provide more options and
help you plan the future with less stress and more control.
And that's what we're showing you here when you come
in to meet with us. We're going to show you
the confidence, the control that you have, the flexibility putting
(08:16):
together buckets, the right weight how do you feed these
buckets so they grow? How do you feed these buckets
so they provide income in the future. And it doesn't
matter how old you are. It's about if you want
to put together a plan, what's here. It's about helping you.
So pick up the phone, schedule a time to meet
with us Maggie Tax and Wealth Advisors. That's what we
do Maggi Tax dot com. There's so much information rate
at your fingertips.
Speaker 2 (08:37):
My gosh.
Speaker 3 (08:38):
When you put together a plan and you look back,
you're so glad that you did and it makes you
feel good and that's what develos the confidence. So a
three three Maggie tax.
Speaker 2 (08:46):
So basically that's the foundation that we're talking about accumulating assets.
It's not about flashy moves or overnight success, and it
could be, but it's not. It's about putting your money
in positions where it can actually grow over time. And
that's why with an advisor like Maggie Tax Advisory and
showing you the bucket planning and how to put money
(09:06):
away strategically is going to help you have a nice retirement.
But here's the big question, how do you even get
the money to start building those assets. That's a true question,
but that's where the real habits come into play. And
coming up next we'll to talk about the importance of
putting money away. But I want to go back. The
problem that most people have is that they don't have
the habit Chris, or the consistency of say, look, let
(09:30):
me take twenty bucks a week away out of it,
you can talk about this, how you pay yourself first,
because if we do that, and you just do it
continuously and religiously and make it a habit, it's going
to be fine. It's going to give you something that
you probably never had or thought you could get.
Speaker 3 (09:47):
Well, that's the thing I mean. If you pay yourself
first and think about this. You know, if you're making
five thousand dollars a month, it's coming in, so you
got to have expenses. But if you can really start
thinking about paying yourself first, then the expense second, that's
where the whole mind shift just gets clearer and clearer
for yourself and the confidence builds. So if you could
(10:08):
put away that five hundred to one thousand a month
and live off of four then that's a good thing.
And can you do that or can you not? That's
why It's so important to do a budget plan. So
when you pick up the phone, schedule time to meet
with us. We can look at the budget for you
whether you're in retirement or approaching retirement. These are things
that we do in complanning, tax planning, investment planning, and
social security maximization planning. My gosh, just stay planning. So
(10:30):
coming up next, we're going to talk about the importance
of putting money away and why even small steps can
make a big difference down the road. You don't want
to miss this. Stay tuned. You're listening to the Magi
Tax and Financial Show.
Speaker 1 (10:46):
Stop funding Uncle Sam's retirement and start planning for your
own successful retirement. As we return to the Maggie Tax
Financial Show with your host Robert and Chris. Maggie with
Maggie Tax and Wealth Advisors. For information on how you
can create a tax free retirement, call eight three three
Maggie Tax or visit Maggie Tax dot com. Now you're
(11:09):
host with Maggie Tax and Wealth Advisors, Robert and Chris Maggie.
Speaker 3 (11:13):
Welcome back and you listen to the Magi Tax and
Financial Show, and we're talking about the importance of putting
money away. And accumulating assets. So now that we've talked
about building assets, let's rewind just a little bit. Because
for what we our money can grow, it has to
be set aside. And this is where a lot of
people get stuck because saving doesn't always feel exciting, and
(11:34):
it's often the first thing that you know, we get
pushed aside when life gets busy and we all been there,
you know, money comes in and then we're like, I
don't want to put that away. I want to spend
it on something else. But putting money away is one
of the most powerful financial habits that you can build.
It's like really good health if you can do it,
and you can structure eating right and also having good
(11:57):
habits financially, it creates opportunity, flexibilit and also what we
all want, peace of mind. And it doesn't require a perfection,
that's the thing about it. So let's break down why
this simple habit matters so much. Let's dive into that.
Speaker 2 (12:09):
I made a lot of good points there, But putting
money away first before you spend it turn saving into
a habit, not an afterthought. So when saving happens after bills,
groceries and impulse purchases, it often doesn't happen at all
because you just don't do it simple. So by paying
yourself first, whether that's through automatic transfers or payroll deductions,
(12:31):
you remove a motion from the process and make saving
part of your routine, just like paying the electric bill.
And that's a good point. Make it part of your
electric bill. Make it part of your utility bill, make
it part of the bill you have to pay for
your credit card. Make saving part of your bill, and
you know, put that in your every day that it's
got to be their bucket and you're going to continually
(12:51):
do it. It's when you don't do it, Chris that
you said, like you know, I'm gonna buy that, I'm
gonna go out tomorrow for dinner and pay some more money,
or I'm going to buy something. WHOA, Just stop a second,
because you need to say no, I have to put
money away to save. That's a bucket, right, absolutely.
Speaker 3 (13:08):
And you know when I went to college, I remember
a long time ago two things that I remember. One
cash is king and the second thing is pay yourself first, right,
And it resonates with me each and every day, especially
in this field. You know, we're talking about this creating
good habits. But you made a great point because a
lot of people do what they pay their bills online, right, Well,
(13:29):
that's true, well, and that's they want to write the checks,
right and the stamps. But a lot of people don't
do that anymore. Some people do, which is fine. But
what they do online is the automatic bill pay. So
you can have an automatic bill pay to yourself, as
you mentioned right, it can go to your investment account
each and every month, you know, every quarter, every year,
whatever it is, So you can set that up so
(13:51):
you can automatically do it. So even a small consistent
contribution can grow into something meaningful over time. So saving
doesn't reques are big dollars to be effective. You don't
have to wait for that lump sum to go put
it away, you know. There. If that happens, you need
to really get in touch with us because of the
tax consequence.
Speaker 2 (14:09):
Right.
Speaker 3 (14:09):
But regular contributions, even modest ones, can compound and build momentum.
It's consistency that matters. So you pay yourself first. Cash
is king. Consistency is what matters.
Speaker 2 (14:23):
Well, you mentioned something and it's kind of part of
what we're talking about here today. But you have to
have automatic bill pay. So you have to have money
in the bank to pay your utility bill, your gas bill,
your rent. Okay, why can't you? And I know you can,
and you can talk about this. Set up an automatic
pay from your account to go into your savings account.
We do that all the time for clients. And think
(14:44):
about it. It's not stupid, it's smart. And you wait
a minute, I didn't think about that. So what if
you just said, take fifty bucks out of your savings
and put it into you know, a savings account and
or a retirement account that we could help you with,
and it's done. And then over time when you look
back and go wow. And this is the thing, Chris,
that I that I always say. You know, you got
to teach the children. You got to teach the kids
(15:04):
how to save, because they don't know how to save.
They know how to spend. I got that money, I
can buy that xbox or I could buy that tape
or whatever. Please just stop a second, you know, and
I do it myself. You know, Do I really need that?
Do I want that extra you know, drink or anything
like that. No, you don't. Do I want to eat
that extra hamburger? No, you don't but that's when you
(15:26):
have to have discipline. And that's what we're talking about here,
because you can save, there's no question you can't you
just and then the other word I would say, Chris,
is a budget. They don't have a budget, and in
your budget you should have what a savings. That's exactly right.
So what's the problem here? Now, that's the thing.
Speaker 3 (15:42):
Well, people aren't disciplined, and that's okay, it happens, right,
but what do you do? So you can't start over,
But what you can do now is start now. And
that's why it's so important to put together a plan.
So I pick up the phone, schedule time to meet
with us. You know, visit our website at Maggie tax
dot com. There's so much information right there at your fingertips.
But you know we do incomplaining tax planning, investment planning,
budget planning, state planning. That's what we're talking about here.
(16:05):
And having money set aside protects you when life throws
you surprises as well. Right, you know, emergencies don't they
don't get scheduled. You know, they don't schedule themselves. It
happens without savings, right, they often turn into debt. That's
the scary point. You know, an emergency fund helps cover
things like car repairs, medical bills, air conditioning costs, right,
(16:26):
temporary loss of income. So keeping small problems from becoming
long term financial setbacks. And that's what we want to avoid.
So when you put together a plan. I know we're
talking about putting money aside, there's also money that we
have to put aside for that liquid money for those
for the set aside costs that we're talking about. You
know that everyone will go through a flat tire.
Speaker 2 (16:47):
What do you do?
Speaker 3 (16:47):
You know, when ac goes down? How do you deal
with all this? And we can help, So pick up
the phone, schedule time to meet with us.
Speaker 2 (16:53):
You know, one example I can give you this is
because we do taxes and we see people every every
day coming into taxes. But you are required to pay
quarterly taxes, right, so you're required to put a certain
amount of way every quarter because if you don't guess
what you have, you have a penalty at the end
of the year and interest and everybody gets all, you know,
crazy about it, like why because you have to pay
(17:15):
the government first, So do it this way. You're the government.
You have to pay yourself first. Why can't you do
the same thing? Am I right? That's exactly right.
Speaker 3 (17:23):
So saving creates confidence, flexibility, and who you've talked about before,
peace of mind. So when you know that you have
money set aside, decisions, they feel less stressful. You know,
even if you wants something, you have money set aside
to go buy it because you're disciplined enough to do that.
But don't go work the other way, don't spend before
you have and you know you're not reacting, you're choosing,
(17:43):
and that's the good thing. So that's where that confidence
allows you to plan, invest, and also move forward knowing
that you're prepared, not just hoping that everything works out.
So I think of the phone, schedule a time to
meet with us eight three to three maggie tax. That's
eight three to three magi tax.
Speaker 2 (17:57):
So that's the power of putting money away. I hope
that made sense to all of you. It's not about
what you give up today, it's about what you gain tomorrow.
And a little discipline now can mean a lot more
freedom later. So, you know, we talk about a lot
of things, income planning, tax planning, you know, and this
is it too, savings. What are you going to do
to budget yourself, and you know, we want to make
sure that everybody is on the right page, So give
(18:17):
us a call eight three to three Maggie Tax. And
coming up next, we're going to dive into investment allocation,
how to decide where your money should live, how much
risk makes sense for you, and why the right mix
matters more than you think. So don't go anywhere because
the Maggie Tax Show is getting started and there's a
lot of good things here. Eight three to three Maggie Tax.
You're listening to the Maggie Tax and Financial Show.
Speaker 1 (18:43):
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
three Maggie Tax or visit Maggie Tax dot com. Now
(19:05):
you're host with Maggie Tax and Wealth Advisors, Robert and
Chris Maggie.
Speaker 3 (19:10):
Thanks for tuning into the Maggie Tax and Financial Show.
And I'm Chris Maggie. I'm here at my dad and
co host of the show. Robert Maggie in visit our
website at Maggie Tax dot com. There's so much information
right there. And also on Sundays on ABCTV at ten
thirty watch our show. It's thirty minutes. It's right there.
We educate a lot of people on different topics. Why
because when's the last class you had on these topics?
(19:33):
You know most people don't, and it's there for you.
Just pick up the phone schedule time to meet with us.
We have office on both sides of the Bay, so
visit our website for those locations and we look forward
to meeting you eight three to three Maggie Tax.
Speaker 2 (19:45):
And a few more things. I'd like to remind all
of you that we do seminars every month. Go to
our website Maggie Tax, and you can register right there online.
We do four a month. There are different locations and
they're educational like we do here with the show. So
if you have time, look at the top, look at
the locations and give us a call and register. I'm
sure you're going to like it. So now that you're
saving and building assets that we've been talking about, let's
(20:07):
talk about what might be the most misunderstood part of investing,
and this has to be to me, one of the
most misunderstood. It's investment allocation. And this isn't about picking
the perfect investment, which is guessing what the market will
do next. Allocation is really about balance. It's about what
you have in your account where it's balanced, whether it
(20:27):
be lower risk, medium risk, or high risk. And think
of it like a financial recipe. The right mix matters
more than any one ingredient. So when your allocation is
set up correctly, guess what your money can work effectively
while helping you sleep a little better at night, because
I know I think a lot of things at night
and I start thinking what did I do wrong? But
so let's break it down, Chris, you know, and way
(20:50):
in a way that actually makes sense because we try
to make it simple and easy to understand. Well, that's it.
Speaker 3 (20:54):
I mean, wrote a book Stop Funding on Uncle Sam's
Retirement and create a plan that's simple and easy for
you to understand. And so if you want that book,
feel free to give us a call, schedule time to
come in and we'll give you that book.
Speaker 2 (21:05):
It's a great read.
Speaker 3 (21:06):
Or go to Amazon and go grab one Stop Funding
Uncle Sam's Retirement. But talk about this as you know,
the investment allocations. So investment allocations is simply how your
money is divided among different types of investments. So this
might include stocks, equities, or bonds or they call debt
cash or other assets. It could be annuities, it could
(21:28):
be CDs, it could be a checking savings money market.
Then each plays a different role. Some focus on growth,
others focus on suitability or other income. And we talked
about this early early on in the show. That you
accumulate assets to one day take income from them, and
that's why it's so important to make sure that you
have the right strategy, and that's what we can help
eight three to three Maggie tax.
Speaker 2 (21:49):
One more thing I think that goes with that. We
talk about red money, green money, how much safe money
you have and how much risky money you have. So
it still ties into what your allocations ought. But the
right allocation balances growth potential with risk is what I
just talked about. How much risk do you really want
to take or do you think you're taking, and how
much do you want, you know, to protect in case
(22:10):
something goes down. So too much risk can make your
portfolio feel like a roller coaster. Every time it goes
up and down, and we all know that while too
little may limit long term progress, we get people say, well,
you know, I'm not making a lot, but I don't
want to take a lot of risk. Well you can,
you can have both worlds, but allocation helps find that
middle ground that you that you fit into. Christen, you
(22:31):
do this with every client because that's a question I
know you ask them, and I can tell you that
a lot of them they don't know how to answer.
Speaker 3 (22:37):
That question well, because they really aren't educated in that,
and that's what our job is to do.
Speaker 2 (22:42):
We can help you.
Speaker 3 (22:43):
And we talked about the rule of one hundred, where
you know how much do you have in red money
which is risky, or green money that's safe. And every
client is different and that's why when you come inet
with us, we'll walk you through that, we'll explain that
to you, will educate you. So your time horizon plays
a big role in how you're investments should be allocated,
because money needed sooner usually leans more with conservative investments,
(23:07):
while longer term goals can afford to be more growth
oriented and can weather the market ups and downs. And
we talk about this, we talk about now money later, money,
never money. Has your advisor ever talked about that, because
a lot of advisors they do is just say, hey,
let me invest your money in this and that's it. Well,
there's more to that. There's now money, later, money, never
(23:28):
money buckets. So when you come to meet with us,
we're going to show you those buckets of money, and
we can show you how to invest those buckets based
on what your risk tolerance is and what you're looking for.
So some of the longer term money can weather those storms,
while some of it's safer money, the now money you
need for income or for expenses, or for other things
(23:49):
that you want on a short term basis.
Speaker 2 (23:51):
It's got to be balanced. I mean, it's got to
be both ways. We've had clients come in a husband
and wife and once we look at their portfolio, we
do the risk analysis. The the husband doesn't, you know,
really do it or watch it, and the wife doesn't,
and now they're in high risk and they both say, well,
I don't want to be in high risk. But that
means that your advisor is not sitting down and doing
you know, that kind of look for you. That's what
(24:12):
we do. So allocation isn't something that you said once
and forget it. That's another problem, Chris. A lot of times,
a lot of the clients come in, they don't do
any allocations for years, and they go, well, gee, I'm
not making money. Well did your advisor sit down and
do something an allocation change? Because as life changes, goals evolve,
and markets move, we all know that portfolios need checkups,
(24:35):
just like you and I. I mean, I went to
the doctor a couple of weeks ago for a checkup
and I had to but stay aligned, just like anything
else that needs maintenance we all do. It's the same
thing with your accounts. It's just not going to be
done on its own. Right, Well, let's just stay on
that time. That's a great point, and I'll tell you why.
Because many portfolios that we see, the allocation doesn't change.
(24:56):
So if you met with your advisor sixty years ago,
we've come across many times that there's been no allocation change. Now,
people say, well, is that the way it's supposed to be? Well,
wouldn't you want a team actively managing the money. So
when they see dips, they maybe go discount shopping and
buy things at a lower point, maybe things are higher,
(25:17):
Maybe they sell things that capture gains and then invest
in something else, you know, because there's ups and downs,
so why not capture where the trends are going. So
diversification within an allocation helps smooth out market surprises. And
that's one of the things that many people over use
that word diversification of diversified. Well, you can be over
(25:39):
diversified sometimes. So when one part of the market is
having a rough day, another market part of the market
may be holding steady, and that's where you need active management.
And that's where many people, when they have the ability
to do these certain types of investing, it helps reduce
the urge to panic or react emotionally. So when you
get a chance, visit our website at MAGA tax dot com.
(26:00):
Pick up the phone, schedule time to meet with us.
Let's let's put together your investment allocation plan. Let's review it.
You know, we talk about your investment portfolio. Let's get
a second opinion. Take up the phone, schedule time to
meet with us. AID three three Maggie Tax. And you
know one thing that goes along with this is the
you know, the tax planning, the income planning, the investment planning,
(26:21):
you know, everything that goes along with and not just
one thing. So you know, a well planned allocation helps
you stay focused on the big picture. And the cool
thing I like is that when you get a husband
and wife, you know, the wife might say, well, you know,
I don't I don't know anything about it, but then
you want to sit down and you explain it to them,
and then they start to realize they need to know
something about it. So it's very important. So instead of
(26:41):
reacting to headlines like a lot of people do or
short term noise, you're working from a strategy designed to
support long term success and confidence. And I think that's
got to be that way, don't you think that? Absolutely?
Speaker 3 (26:52):
And that's why when you come and meet with us,
we're going to put the other plan confidence. We talked
about that multiple times in this show today. Confidence. How
to get the confidence? Well, when you have a plan, right,
you know, if you're going to play a sport, you
can't just wake up and just play it once a
week and think you're going to be really good at it.
And there's some rare occurrences of that, but for the majority,
it doesn't work that way. Same thing in relation to
(27:14):
the investment side, Yes, some people are going to pick
the right stock and sit on it and be wealthy
very very quick. But it doesn't happen with ninety five
ninety eight percent of the people out there. And that's
why when if you think of yourself as one of
the ninety eight percent of the people with your money,
you know you can be speculative with some of it.
(27:35):
But when you want a plan and you put together
the right plan that consists of income and taxes planning
and investment planning and making sure that you have bucket diversification,
my gosh, how unique is that.
Speaker 2 (27:49):
So let me throw something in here that everybody asks
us for because someone has to manage it, right, whether
it be you or someone And they always come across, well,
what's the fee? I mean, is there a legitimate and
fee that should be charged for portfolio management crysal or
is it way expensive or not expensive at all? What
do people expect?
Speaker 3 (28:08):
Well, that's the thing. You know, when you want to
do something and you go shopping, there's a fee for it.
You need to pay for goods and services that you
feel are worth it. Right, So if you want to
go to the store and expect that you could just
pick it up for free, then think about it. Really
how strong is that product? So when you meet with
(28:30):
a financial advisor, do some people they make commissions when
they when they put you in products. And then when
you work with a fiduciary or someone who's actively managing money,
they can charge a fee for active management. Now that
can range in different portfolios. And that's why when what
we're saying here is if you have an investment account,
I don't care if it's an IRA, a form and
(28:51):
K step plan or an investment brokerage account or roth IRA.
Why don't you grab that statement, pick up the phone,
schedule time the meet with us, give our offices a
call eight three to three, Maggie Tax. Let's analyze that
for you. Let's see what the wealth division that we
have here can show you what type of risk you're taking.
And also if you're diversified or even if you've ever
(29:13):
had an asset allocation strategy, can.
Speaker 2 (29:16):
Fees be changed? Can fees be different than different portfolio managers? Absolutely?
Speaker 3 (29:22):
And you know we uncover that. That's one of the
things we do well. We just give a quick example.
Last week we met with two clients that we analyzed
a brokerage account and we found out that one guy
was paying two point seven percent fees. The other guy
had a different type of product and he was three
point eight percent fees. And I explained it to him
and he said, I had no idea. He said, that's
(29:42):
the reason why my account's not growing, right. So I
broke it down and I showed him and he said,
that's not where I want to be. So that's why
it's so important to pick up the phone, schedule a
time to meet with us. Eight three to three Magi tax.
So when it comes to investing, it's not about betting
everything on one horse. It's about building a line up
that works together. And that's the power of smart allocation.
(30:03):
But here's where it gets even better. What if your
investments didn't all have the same job. What if each
dollar had a purpose. So coming up next, we're going
to talk about bucket planning, a simple way to organize
your money based on different goals and timelines. So stick around.
The Maggie Tax and Financial show is right here. Eight
(30:26):
three three Maggie tax. Pick up the phone, schedule time
to meet with us eight three three Maggie Tax. That's
eight three to three Maggie tax.
Speaker 1 (30:34):
Stop funding Uncle Sam's retirement and start planning for your
own successful retirement. As we return to the Maggie Tax
Financial Show with your host Robert and Chris Maggie with
Maggie Tax and Wealth Advisors. For information on how you
can create a tax free retirement, call eight three three
Maggie Tax or visit Maggie Tax dot com. Now your
(30:56):
host with Maggie Tax and Wealth Advisors, Robert and Maggie.
Speaker 2 (31:01):
Welcome back to the Maggie Tax and Financial Show. I
am Robert Maggie and I'm here with my son and
co host Chris Maggie. And today we've been talking about
an awful lot. But go to our website, Maggie Tax
dot Com. The shows are archived. You can always look
to listen when you want, when you have time, and
don't forget Every Sunday on ABCTV our show, The Maggie
Tax and Financial Show with ten thirty. So just kind
(31:21):
of regroup here today. If you just tuned in, you
can listen to the show again. But we've been talking
about accumulating assets, which is very important to a lot
of people. What about the importance of putting money away,
So we try to help people understand how to save
and then investment allocation, because that probably affects most of
the people listening to our show today. But Chris, the
bigger one that I think that we need to talk about,
(31:42):
because we always talk about it, is bucket planning with
different investment objectives and how does that work? And where
do we show that to people when they come in?
Speaker 3 (31:51):
All right, so now let's wrap up everything together with
a strategy that gives your money some organization without making
it complicated. And that's the whole goal. This is called
bucket planning, and it's one of the easiest ways to
make sense of your financial goals. Instead of one big
pile of money trying to do everything at once, bucket
planning gives each dollar a clear job. And if everyone's
(32:12):
doing the right job, then guess what everyone benefits. It's
called it being a team player, right team. Think of
it like organizing your closet. Right, everything has its own place,
and suddenly life feels a lot more manageable. And we
talk about confidence, right, goes back to the confidence word,
because that's what it's about. So throughout what we're talking
about here, bucket planning, stay tuned with it, because pick
(32:34):
up the phone Throughout today's show, dial our number eight
three to three meg attacks company with us. We'll show
you how to take that pile or those piles of
money and create buckets of money.
Speaker 2 (32:42):
Now, you mentioned something about a closet. I'm not sure
we want to use a closet as an example, but
you know, you got to think a little funny out there.
But bucket planning what it means separating your money based
on when you'll need it and what it's meant to do.
Chris always talks about the word of purpose. So short
term needs, midterm goals, and long term growth each get
their own bucket. So money meant for the next year
(33:05):
isn't taking the same risk as money meant for twenty
years from now. And that's the problem that you have,
most of you about planning what you need now, what
you need later, and what you're going to need for
retirement because you need to take that money we talked
about before. It's putting a certain amount of way for
each kind of bucket, and that's important to a lot
of people out there.
Speaker 3 (33:24):
That's it, you know, a purpose, right, That's what we're
discussing here. Each bucket has a different investment objective, and
risk level. So when you come to meet with us,
so we're going to look at your risk I'm going
to show you are you conservative? Are you aggressive? Are
you a balanced investor? Are you monitorly a growth? Where
are you? That's what we're going to go through with
you because you need to know and we have the
questions to ask you so we can help you. And
(33:46):
that's wh when you come in, because you need to understand.
Haven twitter start and we're going to show you. So
some buckets focus on safety and accessibility, while others are
designed for growth. As my dad mentioned, But this way,
your money isn't confused, and neither are you. When market
markets fluctuate, many people come in and they say, oh
my gosh, I must be down like forty percent. No
(34:06):
you're not because when you do bucket planning, you know
maybe one of your bucket if the market went down
a lot, it's effective, but the other ones are not.
So when your overall portfolio could be could be really
good in markets that go down.
Speaker 2 (34:20):
So you mentioned something if your money is confused, do
you think they talk to one another? You're risky.
Speaker 3 (34:26):
I'm not.
Speaker 2 (34:26):
I'm safe.
Speaker 1 (34:27):
You are.
Speaker 2 (34:28):
I'm just saying because this is what goes on here?
Make a cartoon out of this. Yeah, I think we
should put on a TV show again. But this approach
helps reduce emotional decision making, and that's what comes down to.
So think about it. When markets are up or down,
Bucket planning reminds you that not all dollars are reacting
the same way. That clarity makes it easier to stay
calm and stick with the with the plan instead of
(34:49):
or reacting emotionally, because that's what people do. They react
emotionally because the market's up, everybody should be up. No,
that's not true. But when the market's up, you should
maybe keep some of your gains so in case the
market goes down, you got the money. They are protected, right, So,
I mean that's important right now.
Speaker 3 (35:04):
That's why investment planning is so important. That's why I
pick up the phone. It's get a ton of meet
with us. Let's get a second opinion on your investments.
Let's look at your portfolios. Maybe you're doing it yourself.
Maybe you're tired of doing that. Maybe you had advised
that you moved and you want a different allocation. We
had a client that came in last week and she's
from Georgia, and she came in and she said, you
know what, it's time for me to start moving my
(35:24):
money in the right buckets. And I said, what'd you say,
and she said, yeah, I mean I've heard your show
multiple times. She said, I understand where you're coming from,
and that's what I want. So this approach helps reduce
emotional decision making when you have a plan, because when
markets are up or down, bucket planning reminds you that
not all dollars are reacting the same way, and that
clarity makes it easier to stay calm and stick with
(35:46):
the plan instead of reacting emotionally. And my dad mentioned
that before reacting emotionally because many people freak out, yea,
many people don't have to freak out. So bucket planning
brings structure, the confidence and peace of mind to your
financial plan. So the other phone schedule time to meet
with us eight three to three, Maggie tax. When you
do bucket planning, you know what money is available now,
(36:09):
what's working towards the future, and also what's grown quietly
in the background, and making the entire plan feel intentional
and easy to follow, like our plan, simple and easy
to understand.
Speaker 2 (36:20):
So there you have it, no guessing, no juggling, just
giving your money clear jobs like you're supposed to and
letting each bucket do its own thing. So when every
dollar knows where it's going, planning starts to feel a
lot less stressful and a lot more doable. So that's
bucket planning and action, and it's how all the pieces
we talk about today and every week finally come together.
(36:40):
And you know, I want you to understand, this is
what you folks need to think about a little bit
out of the box, a little bit different here. You know,
the bucket planning is worth you know, looking at and
there's so much there. That's why you need to make
an appointment. Give us a call eight three to three, Maggie.
Speaker 3 (36:56):
Tax That's that's exactly right, because you need a plan.
So today we talked about some big ideas, building assets,
putting money away, investing with purpose, and also organizing your
goals so your money isn't all trying to do the
same job. And if there's one takeaway in this as
financial progress doesn't come from doing everything at once. It
comes from taking the right next steps. So no matter
(37:18):
where you're starting, it could be you know, early or
later there's a path forward. With the right plan, clear
goals and guidance you can trust, your financial future can
feel less overwhelming and a lot more hopeful. So if
today's conversation spark questions, or if you're ready to turn
these ideas into a plan that fits your life, we're
here to help. Give us a call and start the conversation. Now,
(37:38):
pick up the phone, schedule time to meet with us.
Eight three to three Magi Attacks. Because when your money
has direction, your future has confidence. Thanks for listening to
the Magi Tax and Financial Show. Eight three to three
Magi Tax. That's eight three to three Magi Tax and
don't forget Every Sundy on ABC TV, tune in ten
thirty for the Magi Tax and Financial Show.
Speaker 1 (37:58):
Thank you for listening to mag 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 n till noon every Sunday, or any time
on the free iHeartRadio app. And remember you can pay
less tax with Maggie Tax Program. Content provided by Maggie
(38:18):
Tax Wealth and Advisors. Call them at eight three three
Maggie Tax or visit them online at maggietax dot com.
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