Episode 20240720 - Risk Management and Financial Planning Questions

Episode Transcript

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All these years you've saved up planningfor secure retirement, but if you're not
careful, it will be the irsthat's living it up when you retire by
taxing your hard earned money. Welcometo the Maggie Tax and Financial Hour with
Robert and Chris Maggie of Maggie TaxAdvisory and Financial Group. With over thirty
years of combined experience in tax savings, income planning, and investment opportunities,

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Robert and Chris share advice and taxplanning strategies designed to protect your retirement nest
egg from Uncle Sam. Your questionsand comments are welcome during today's program by
calling eight one three three two twotwenty five twenty. That's eight one three
three two two twenty five twenty,or visit Maggie Tax dot Com. That's

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Maggi tax dot com and now yourhost for the Maggie Tax Financial Hour on
nine seventy WFLA. Robert and ChrisMaggie, Welcome everyone, and thanks for
joining us today. My name isRobert Maggie and I'm here with Chris Maggie,
and together we're going to be talkingabout a lot of important topics and
concerns for all of you out there, be sure to visit our website,

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Maggie tax dot com. We havea lot of information there and we also
have the retirement calculator, so clickon that and in thirty seconds we can
tell you what your retirement tax billis going to be. And then let's
get together and talk about it becausea lot of you out there are confused
right now. Also watch our showevery Sunday on ABC TV at ten thirty
and if you can't get to watchthe show, go to our website Maggie

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tax dot com. And our showsare archives, so we'll give you a
lot of information. Feel free todo it whenever you have time, but
it's important. And Chris, wesee a lot of people, and we
talk to a lot of people aboutdifferent concerns, and there are many They're
worried about taxes, income, investments, and I don't know what you think,
but I think they're afraid to askor sit down and have a conversation.

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I think they're afraid to be sold. And that's not what it's about.
So we're going to talk about somethings today about risk management and asset
protection that concerns all of you.And if you have any questions, go
to our website Maggie Tax dot com. We have a chat box right there
on the first page. Put yourquestion and we'll answer them right now.
So Chris, let's get going andstart the show. Welcome everyone, and
thank you so much for tuning intoour show and each and every week.

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You know, we're here to educateyou. We're here to deliver a message
to help you have confidence and clarityin your retirement. You know, many
people out there have questions, asmy dad has mentioned before, and they
just don't know where to go.Well, we can be that source for
you. All you got to dois visit our website at Maggie tax dot
com and pick up the phone.Schedule of time to meet with us.
Eight three three Maggie Tax. Anddo you have an income question? Do

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you have a tax question? Doyou have an investment question? Are you
overall concerned about your future and currentfinancial plan? Well, now's the time
to pick up the phone, scheduletime to meet with us. Let's get
together. You know, let's geta second opinion going for you, because
do you have enough confidence in yourcurrent advisor to get a second opinion?
And things are changing right now andmany people out there need to have a

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plan, tax plan, income plantinvestment plan also which is really important,
and a state plan so you know, don't be afraid to pick up the
phone. Eight three to three Maggietacks. Like I said, we have
operated standing by right now. Solet's get into this because let's talk about
concerns people have. What about healthinsurance? Do you have? Do you
and are you eligible for medicare?Many people are getting to age sixty five

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and they're concerned. They have questionsand do you know there are options for
long term care? This is abig question, Chris. People are asking
and less what about a state planning? Do you have a will a power
of attorney? Do you have yourbeneficiary designation set up correctly? Do you
even know who your beneficiaries are?And this is important? So do you
have a will and a power ofattorney? What about a review of your

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beneficiaries? If you have accounts rightnow and you're not sure who your beneficiaries
are, we just gave you areason to give us a call. Let's
go through your beneficiaries and what doyou want to accomplish during your retirement years?
Do you want to travel, volunteeror work part time, maybe pursue
some hobbies to financially prepare for yourretirement. You need a clear idea of
your retirement and lifestyle goals. AndChris, we talk about the Maggie Plan.

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It's simple and easy to understand.And I know we talk every week
about a lot of different topics,but the bottom line is they have to
come in and have a conversation andget your fears and your concerns out.
Am I right or wrong? Absolutely? You know, we asked this question
many too many people and we getmultiple answers. But what are your retirement

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expectations? You know? According tothe Employee Benefit Research Institute, they said
that sixty nine percent of workers arevery or somewhat confident they will have enough
money to live comfortably throughout their retirement. Only forty eight percent had actually tried
to calculate how much they will needto save. So stop right there for
a minute. Half of the peopleout there have actually tried to put pen

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and paper together to figure out howmuch they're going to need in retirement.
So what's one of the things wedo first when we meet with you.
We're going to start there. We'regonna do a budget sheet, We're going
to sit there and we're gonna askyou and I'm going to find out what
you need coming in the front doorevery month for the next thirty days for

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you to pay your bills, todo what you need to do to live
the lifestyle that you want to live. Whether it's a need or want,
we have to determine that and that'swhat we're going to do for you.
So it's a first step in theprocess, but it's really a crucial step
because then you will know if youcan retire. You know, many people
out there it's a myth you haveto get to a million dollars and once
you get there, then you canretire. Well that's not the case with

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everybody. You don't have to getto that number. It's not a number
thing. It's about how much incomeyou need every month to pay your bills
and also to live the lifestyle thatyou want. So we can help you.
So pick up the phone, scheduletime to meet with us A three
three Maggie tax M A G,G I T I X dot com.
There's so much information right there tohelp you. And here's the concern that

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I have. Most people are working, or you know, working, maybe
two jobs and they're planning for retirement, but they don't know what to do.
They have a four to oh oneK or an ira and they're using
that to hopefully plan when they retirethey have enough money for income, but
chances are they may not have enoughmoney for income. So this is why
you have to sit down and createa plan. We call it the Maggie
plan. And I know a lotof people out there say, you know,

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is it too early, is ittoo late? No, it's never
too early and it's never too late. And Chris, we've helped many people
that are working out. They evenfederal employees and state employees wanting to retire.
You know, it's sixty or sixtyone and sixty two. But you
said the word before a myth.I think the myth is that everybody's supposed
to work till sixty five. Andthat's not the case today because so many

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things, Chris, have changed.Four oh one K plans have changed,
people have lost their jobs, peoplehave emergency COVID hit a couple of years
ago, totally, you know,changed the lifestyle of a lot of people.
And man, you know, Chris, if the advisor and the tax
person are not talking about these things. They're in the dark and they're just
fearful of everything that goes on everyday. Well, that's just it.
You know, it's about it income. It's about what your accounts are going

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to generate for you for income.Do you know the answer to that.
You might have piles of money,these assets that you think are growing or
they're taking too much risk, orare they growing? You know, they
are they volatil Have they lost alot of money or they're safe? Are
they getting a fixed rate of return? What are they doing? If you
don't know, then it's a perfecttime to schedule time to meet with us,

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because let's go over your accounts.Let's go over the purpose of each
and every one of them. Let'sdetermine what of those accounts are going to
generate the income that you need tofill the income gap. And you know,
the other myth that we hear isthat people wait to their fra full
retirement age. They look at thesolid security statement and they think, well,
sixty seven and four months is whenthey can start retiring. That's not

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true. You can retire any time. But what you really want to figure
out is how much income is comingin and that's what you can depend on.
Do you have your own family pension? What's a pension? Well,
many people years ago used to workfor a company for twenty three years and
they used to get their pension.But guess what things are changing. Most
employee ers these days don't want togive pension plans. They give a four

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one k out to you. It'sup to you to retire and to you
to generate your own income plan.They don't want to take the risk anymore.
So how do you create your ownfamily pension where you get it,
your spouse gets and if anything happensto you, it stays in the family
and goes to the kids. Howdo you do this where we can help
pick up the phone, schedule timeto meet with us, and when you
call, ask that you want togenerate your own family pension and we can

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help you out a three to threeMaggie tax. That's a great point.
And one other thing is we dobucket planning and bucket planning for many of
the clients that have come in andmet with us, and we sit down
and show you the bucket planning andan asset map to put your assets in
order and show you what you're goingto do short term and long term.
You know, we talk about anincomplete plan. Many of you have an
incomplete plan. You have an incompleteplan, and you're worried about what to

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do. So let's help you makeit a complete plan. Talk about this
on the TV. Many of youlook at what we call a micro lens.
You look at it today or shortterm, Well, if you're going
to look at it, Chris,on a long term, it's a macro
lens. And that's planning. That'sincome planning, that's tax planning, that's
an investment planning, that's a stateplanning or legacy planning. And folks,

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don't be ashamed or embarrassed that youthink you don't have enough. Anything you
have is enough because you worked hardfor it, and you're still going to
work hard for it. You knowyou can't. Maybe some people can't go
back to work, and that's hard. So if you work forty years,
then you better have enough money toretire for forty years. And that's what
you developed, that's what you workso hard for, Chris, And you

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talk about a pension plan that hasto be done right now for income planning,
and that's just said. So Ifyou're looking for an income plan,
we can help. If you're lookingfor a playcheck, how do you generate
paychecks and playchecks for guaranteed income comingin the front door every month for the
rest of your life. We canhelp. If you're looking to create your
own family pension, so you knowfor sure that that money is going to

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generate an income stream that's going tocome in to your account each and every
month on that first, on thefifth, on the tenth, whatever you
want, we can help. Ifyou're looking for an investment plan. If
you have these accounts, these pilesof money that are just sitting there,
you look at the statements, maybeyou don't even open the statements. You
have no idea what these accounts are. You might have gotten them five years
ago or ten years ago, ormaybe an old four oh one K that

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you have no idea what to doand how to transfer the money over.
We can help. If you're lookingfor a tax plan, you want to
reduce your taxes, you want incomeon a most tax efficient way, we
can help. What about roth conversions? How many people have questions should we
convert our ira to the wroth?How do we do it? Should we
do it? A lump sum.Should we do a strategic rollout? How
do we go about doing that?Well, we can help if you're looking

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for all these things, that's whatwe do. So pick up the phone
schedule time to meet with us.We look forward to meeting with you.
Eight three to three Maggie Tax.That's eight three to three Maggie Tax,
and visit our website Maggie Tax dotcom. Stop planning for Uncle Sam's retirement
and start planning for your retirement.As we return to the Maggie Tax and

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Financial Hour with your host father andson Robert and Chris Maggie. For additional
information on how you can create atax free retirement, visit Maggie Tax dot
com. That's ma Ggi tax dotcom or call eight one three three two
two twenty five twenty. That's eightone three three two two twenty five twenty.

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Now your host for the Maggie Taxand Financial Hour, father and son
from Maggie Tax Advisory and Financial Group, Robert and Chris Maggie. Welcome everyone,
and thanks for joining us today.My name is Robert Maggie and I'm
here with Chris Maggie, and togetherwe are going to try to educate all
of you and understand the language andretirement planning regarding income planning, tax planning,

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social security planning, of state planningand think about this. Currently,
the world we live in is filledwith opinions of many different people, man
made climate change versus natural occurring climatechange, urban living compared to rural living,
Electric vehicles versus gasoline powered vehicles.Is being a vegetarian healthier than not
being a vegetarian? Should we dramaticallyreduce the size of government? Should we

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develop more technology? Or is increasingtechnology a threat to mankind? Are we
facing a young people versus old peoplechallenge? What about the rich versus the
poor? In financial services, weare currently dealing with multitude of issues.
Are we going to have a recessionor not? Is inflation under control or
are we about to lose control ofinflation? Will interest rates continue to increase

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or decrease? And should I takerisk or should I eliminate risk? Should
I build retirement income or retirement assets? Will volatility continue to rise or will
stability return to the markets? ShouldI invest in stocks, bonds, in
real estate or safe money strategies thatinclude CDs, annuities and cash value life
insurance. Are the banks safe orshould I be concerned? Are we about

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to have a crash of investments?Or is that concerned being overblown? Will
taxes be higher or lower in thefuture? And do you want to pay
more taxes with a big check ora little check? If you have an
IRA or a four oh one K, now is the time to go to
Maggie tax dot com, click onretirement calculator and in thirty seconds see what
your retirement tax bill will look like. Chris, I bring this up because

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there's so many things that are confusingpeople everything I just said. Okay,
so when you listen to a showlike this, will watch a TV show?
What are you trying to learn orget out of it? Is it
just noises at words? I mean, what's your opinion? Well that's just
said. You know, there's somany different topics there, and a lot
of people have different opinions on eachand every one of those. So those
things you just really can't control.Yeah, you can be behind something,

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but also at the end of theday, you need a lot of people
to behind it as well to makea change. But you can start somewhere.
But the bottom line here is thatwe live in a yoo economy,
you're on your own and what hasto happen is you have to take action.
You have to put together at yourown financial plan. You have to
understand why you're paying taxes, youhave to understand what your current budget is.

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You have to understand where your investmentsare why, because this is about
you. It's about you, andit's about you and your plan. Do
you have accounts that are risky?Do you have accounts that are safe that
are underperforming? Where are your accountsand what are they doing? And that's
why you have to meet with us, because it's so important to put together

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a complete plan from the tax sideof this thing, from the income side,
from the investment side. And alot of people we meet with don't
even have a will or a trustor proper beneficiary designation is not even there.
And we see this time in andtime again, and we say we
is not our heads because the professionalsthat they're working with so called, are
not doing the right job. Sowhen you come to meet with us,

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we're going to look at every accountyou have. We when to look at
the beneficiaries, We're going to lookat why you have that account, When
to look at the amount of cashyou have. How are these accounts going
to generate an income stream for you? That's what we do here at Maggie
Tack's Advisory and Financial Group. Sothe things that my dad mentioned here,
the topics, yeah, we can'tcontrol, but we can try to strive
towards helping to change these things.But the end of the day, we

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need to make sure and be inthe right position to take advantage of the
opportunities that happen in this world asopposed to falling victim to them. And
that's what we're stressing here, andthat's why it's so important to pick up
the phone, schedule time to meetwith us. Eight three to three Maggie
tax. That's eight three to threeMaggie tax. So how do we put
this all together? Real simple?We are doing seminars every month. It's

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called a three and one seminar astate planning, tax planning and social security
planning. And why because we wantyou to understand the language and get the
idea, you know, like withouta will. Chris mentioned this before probate
court and the estate decide what happensto your assets after you've gone, is
that the decision you want to makeand could your tax bill and retirement be

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too big? Folks, taxes aregoing to increase when the Trump tax cuts
expire. It's going to go upat least three percent for everyone. Are
you prepared and do you have atax plan? So in thirty seconds,
like I always talk about, we'regoing to show you what your tax bill
WANs will be if you have anIRA or a four oh one K or
a TSP or any tax deferred retirementaccount. You want to know what your

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tax bill is and register for thisseminar. Go to my website Maggie tax
dot com, click on seminars.You'll see the dates there. And also
social Security can be confusing. Thisis all over the TV. People don't
understand what's going on about FRA,full retirement age, about you know,
PIA and COLA, how does itaffect and IRMA? Okay, what happens
with IRMA? People are getting soconfused with that. So what does it

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all mean? And that Maggie TaxAdvisory, Social Security and Tax Seminar.
We're going to cover all this andmore and Chris everything that we talk about
today. If they get anything outof this, take the time and register
for the seminar. It's free,there's no cost, there's no obligation.
That's it. Maybe we should chargefor it. What do you think.
I don't know. Maybe there's acost to this Christmas. Well, you
know it's important. You know,you have to take ownership and you know
what, we want to meet withpeople and work with people who who are

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serious about their retirement. You know, this is what we do each and
every day to help people. Isthere's ways to reduce your taxes. There
are ways to have guaranteed income forlife. There are ways to have your
investments put together and structure the rightway so you can take advantage when the
market goes down and make money thatway too. So here's the concern.
It's called legislative risk. They canchange the rules, they can change the

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rules on what tax rates are goingto be, on how you put money
away. If you make money,won't the politicians always be eager and ready
to take it? Of course theywill. Who do you want to be
in control the government or you pickone? You know, that's the big
thing right here, and that's whywe're stressing you need to make sure that
you are in control and take advantageof the opportunities that are out there as

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opposed to falling victim to them.You know, and remember when you talk
about estate planning or enhance planning,you mentioned the word control. You want
to be in control because if youdon't have a plan, guess what you're
going to have the government plan.And that's not what all you folks want.
So eight three three Magi Tax registerfor our seminars. Go to Magi
tax dot com, click on thetop seminars. It's right there, the
dates, the locations, and thetimes. So eight three to three Maggie

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Tax. That's right. And wehave a simple plan. It's called the
Maggi Plan. It's simple and easyfor you to understand. It's a tax
plan, it's an income plan,it's an insurance plan. It's a legacy
and a state plan. It's notthe government plan. So if you have
the government plan right now, you'regoing to fall victim to what happens and
all the things we talked about earlyon this segment. And you don't want

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that to happen to you. Youknow, you worked hard, your families
worked hard. You put a lotof labor and stress and time. Make
sure that it's not just blown awayby government issues and legislative risk. Pick
up the phone, schedule time tomeet with us. Visit our website at
Maggie tax dot com. There's somuch information right there at your fingertips.
Come on and meet with us.We have offices on both sides of the

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bay and when you come in,we'll have a conversation. We'll see if
we can help you. There's somuch there to talk about, from taxes
to insurance, to income to socialSecurity maximization planning, to medicare to estate
planning. So we can help.Pick up the phone, schedule time to
meet with us. Eight three tothree Maggie Tax. That's eight three to
three Maggie Tex. Stop planning forUncle Sam's retirement and start planning for your

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retirement. As we return to theMaggie Tax and Financial Hour with your host
father and son, Robert and ChrisMaggie. For additional information on how you
can create a tax free retirement,visit Maggie tax dot com. That's ma
Ggi tax dot com. Or calleight one three three two two twenty five

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twenty. That's eight one three threetwo two twenty five twenty. Now your
host for the Maggie Tax and FinancialHour. Father and son from Maggie Tax
Advisory in Financial Group, Robert andChris Maggie, welcome back and thanks for
joining us today. You're listening tothe Maggie Tax and Financial Show. Don't
forget Every Sunday tomorrow at ten thirtyam on ABC TV. Tune into the

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Maggie Tax and Financial Show. Andagain, most importantly, visit our website
Maggie tax dot com. Why becauseon a top right we have the retirement
calculator, So if you're concerned aboutyour taxes and retirement, pick on that
button. In thirty seconds, wecan tell you what your retirement tax bill
is going to be and then youcould start doing some tax plenning. Number
two, we have upcoming seminars everymonth on taxes, social security, on

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everything that we do here. Sogo to the website up on the top,
it says upcoming seminars. Click onit. You'll see the dates and
the locations and if you have timeregistering, come on out. And the
other thing. Many of you arelistening to our show and have questions,
We have a chat box. Clickon the chat box and ask the question
and we can help you out.Now, Chris mentioned something before. I
just want to touch on it becausewhen everyone comes into our office, we

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ask him, why are you here? Okay, and they tell us because
maybe your taxes or we're not sureabout our advisor. But Chris, you
mentioned one thing before, you askedthe gentleman, is safety important to you?
Just elaborate on that question with thisclient, because it took you in
a total different direction, and eventook him in a direction. That's exactly
right. You know a client thatcame in last week and he's got over

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two million bucks and the number isnot important to us, but the fact
of the matter is this is whenwe asked him that question. It does
make sense because we asked him,a safety of your money important to you?
And guess what he said? Hesaid absolutely. At this age,
it is so he had all hispapers all over my desk and I'm looking
at them, and he had avariable annuity here, a mutual fund here,

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a four one k here, hehad a stock portfolio there, and
I looked at everything and I saidit again, a safety of your money
important to you? And he saidabsolutely. And I said, well,
you're all you're in risk. Allyour money is in risk, and he
said, I know, but Idon't know how or what to do with
it. He said, I justbeen trained for years to put money away,

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and I just did what everyone elsewas doing, and I put the
money in a four one K,and I got an advisor who just deals
with stocks and I and I putmoney with this insurance guy and he deals
with variable annuities. And that's that'swhat I did. So it was more
like a he just told us astory. It was great, but he
said, that's why I'm here.I want a plan. I want to
create something because I know I can'tkeep doing what I'm doing. If if

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the market goes down and the volatilityis the way it is, I will
not have what I have on thison this desktop. Stop you got to
stop here. My heart is bubblingright here. The thing that what Chris
just said, and this is formany of you, and you'll understand,
you are going by the old rulesof retirement. They're old, they don't
work. So we want to teachyou the new rules of retirement. We

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have a book that we wrote,new rules of retirement. I can send
it to all of you in anemail if you want. I'll be glad
to let you read it because asChris and I go through the show and
through the TV show, we talkabout bucket planning, and most of the
people that we talked to, whenChrystal agree, they don't know what bucket
planning is. It's a pile ofmoney. It's putting your money in variables,
it's putting your money in mutual fundsand stocks. Where's the plan,
where's the income plan, where's thetax plan, Where's the investment plan?

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And like Chris said, it's anold advisor who just gives you the same
thing. Because we're taught to stayin the same life with everybody. Chris
mentions about being with the herd.You don't have to you can get off
the exit and go in a differentdirection. And folks, I don't know.
I'm passionate about that. So itwas my son because we see this
every day. I've been doing thisfor a long time, been in this
business thirty years, and I'm sickand tired of seeing people sold something that

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they don't understand. And Chris,that's the language again. And you know,
I get upset because I'm older thanyou, but I see this every
day. You've been doing this forover twenty years with me. You see
it every day and you're a youngguy. It's got to bother you.
For the young people as well asthe older people. Am I right or
wrong? Now? That's just it. I mean, you don't know what
you don't know, and all therespect A lot of people listening today are
older than I am. But youknow, the education is so important that

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we can deliver it to you soyou can make a sound decision. So
you now can know about what youhave. You can know it and you
can feel confident and that's what buildsclarity and confidence moving forward in retirement,
and that's why you can be happyduring retirement. You don't have to worry
about these ups and downs and thevolatilities. So you know, where is
it printed that you have to losetwenty thirty forty percent in the market.

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Where is it written that that's whatyou have to do? And the truth
is it's not written anywhere. Youdon't have to be there if you don't
want to. You know, let'sdiscuss what this means, because there are
poor choices out there. Many ofyou contribute to form one case or iras
without determining if you're receiving a worthwhileupfront tax deduction. You know a lot
of people talk about by term andinvest the difference. But when you do

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that, do you really understand whatthey're saying? Do you understand what that
means? You know, many peopleout there are on the radio, many
people out there are on TV.But guess what are they really delivering the
right message? Are they just sellinga product? You here on TV all
time, by gold in your IRA, by gold in your IRA. Is
that what you need to do?That's a transactional advisor, Chris, it's

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not a plan. It's not aplan. You know, and again the
language that we talk about and tryingto teach everyone on the radio show,
in TV for years. We knowthis because we see this every day.
And here's another one, use taxdeferral to reduce income taxes. Now you
know life insurances allows the investment.And all of these are ridiculously inaccurate statements
because what Chris mentioned before, youhave a transactional advice that's going to sell

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you a stock bond and mutual funddoesn't talk about anything else. You have
an insurance guy that's just going tosell you one product, doesn't talk about
anything else. And then you havea fiduciary like Maggie Investments who are talking
about income planning, tax planning,investment planning, and how it pertains to
you to your situation because the governmenttells you thousands and thousands of times that
they are true, and you beginto believe them. You know, tax

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deferral, Well, you all knowthat in two years the tax cuts are
going to expire and it's going togo up at least three percent. On
my website, I have is aspot there for retirement calculator. Now they're
extending the rm D. Chris wasseventy two. Excuse me, it was
seventy and a half. And thenthey bumped at the seventy two and a
lot of people didn't know that,and now you just found out that they're
going to bump at seventy three.So here's what they're doing. If you

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understand what we're trying to talk aboutthe language, brushing it out so you
don't have to take the require minimumdistribution and get a higher tax. What
they're telling you is do some planning, do some planning, and get that
money out now at a low taxbracket, which we can explain to you
from a tax standpoint, and thenlater on have what Chris tax free money.

(26:17):
As you said, over the pastyear, we've had more clients I've
ever had before want to talk aboutor entertain roth conversions and very adamant about
doing it. And we have clientsthat come in just want to rip off
the band aid and just convert moneyfrom iras which is infected with taxes,
to tax free money. They wantto know how to go about doing that,

(26:37):
So I want to do it strategically. That's why we put together a
plan. So when we look atthis whole thing, it's about you.
It's about your plan. What's yourplan, Not your neighbors, not your
brothers or your sisters down the street, it's your plan. Every situation a
little different. Are you looking forincome, Well, we can give you
income the most tax efficient way.We can have a guaranteed pension plan,

(26:57):
your family garanteed pension plan. Youdon't have to work for a company for
twenty years and retire with them.You don't have to. You could take
what you have and design your ownfamily pension. What about the investments?
What about managed portfolios? Do youhave a purpose with your accounts? Do
you have a buffer's strategy to protectyou. On the downside, what are

(27:18):
you invested in? Do you know? Do you really know? That's what
we're discussing here. So when youcome in to meet with us, we're
gonna teach you, We're gonna educateyou. We're gonna first show you what
you have and if you got somethinggood, great, we'll keep it.
But if you don't, maybe youwant some options. And that's where we're
going with this. Because the clienthocame in safety of his money's important to
him. But guess what, he'sone hundred percent in risk. He doesn't

(27:38):
want to be there, but alsohe just doesn't know how to get to
the other side, and we canshow him. So if you're listening,
let me talk about some of thethings that we do to kind of help
you out here. The question weask is how can we help you?
You know, what keeps you upat night? What's that big you know
gorilla in the room? What areyou doing about it? Is the question.
The first thing you should do isgive us a call eight three three

(27:59):
Magi tax. Let's discuss the Maggieplan. Let's discuss the complete plan.
So where do we go from here? It's easy pick up the phone eight
three three, Maggie. Tax.And here's another thing. Chris talked about
it before. Has anyone ever donea beneficiary review for you? We get
people coming in and say that parentsjust passed away and guess what they did
no planning. Now it's time forthem to do the planning. Do you
have what we call a complete planor an incomplete plan? And Chris,

(28:23):
I have to tell you. WhenI tell people this, they get offended
by what do you mean? Ihave an incomplete plan? And I'm not
trying to be funny yet, butyou do. You don't have an income
plan, you don't have a taxplan, you don't have an investment plan.
Where like Chris just talked about howmuch money do you want to lose,
it's not written where you have tolose twenty thirty forty percent nowhere.
I have books all over my office. I read a lot. I don't

(28:44):
see that anywhere. Chris to you, it's funny, it's just not working
that way. But you don't haveto do that. And then remember we
live in a yoo economy. Thatmeans you're on your own just because the
majority of you follow the herd,it does not mean that you have to.
We all know that. We tellour kids, right, you don't
have to follow Johnny down the street, right, we have to do that,
but we do. But you don'thave to, especially in retirement,

(29:10):
because this is your money. Andthat's why many people say, well,
get to a million box, thenyou can retire. Well, I have
clients that don't have a million box. That's fine. They have two hundred
thousand dollars and they're retired and theyenjoying the buckets of money that are generating
the income because that's what they want. So again, where are you?
What do you want to do?Do you want to maximize income? Do

(29:30):
you want to maximize your estate incometax free? Do you want to advance
tax planning strategy to reduce your taxes? Well, we can help. What
about creating a tax deduction so youcan take more out of your IRA and
convert it to a roth IRA andpay less tax. Would you just say,
well, that's what I'm talking about. Those are advanced tax planning strategies

(29:51):
that you're CPA, you're broker,your advisor, they're not even talking to
you about this. There are strategiesout there that you can take advantage of.
To accomplish what you're looking for.It's very simple. Pick up the
phone, schedule time to meet withus eight three three Maggie Tax. So
visit Maggie tax dot com. Wegave you some reasons why. Click on
the retirement calculator up top. Idon't think anyone's doing this and anyone talking

(30:15):
about it right now, retirement calculatorand in thirty seconds we can tell you
what your retirement tax bill is goingto be. Look for this upcoming seminars
we do it on taxes and socialsecurity. Look for the location near you,
register and come out and see usfor an hour an hour and a
half. And then don't forget wehave the chat box on our site,
Maggie Tax dot com. Put aquestion in, We're going to respond,

(30:36):
We're going to answer, and thenwe can set up a time to meet
with us eight three to three MagiTax. And be sure to watch our
TV show every Sunday at ten thirtyam on ABC TV and learn about all
the information we're talking about. Folks, it's the language. If you don't
understand that, we can help.And remember we have offices on both sides
of the Bay. We have onein Tampa Palm Harbor and CP so pick

(30:56):
up the phone eight three three MagiTax. You sure to visit our website,
Maggie Tax dot Com. Eight threethree Maggie Tax. Stop planning for
Uncle Sam's retirement and start planning foryour retirement. As we return to the
Maggie Tax and Financial Hour with yourhost father and son Robert and Chris Maggie.
For additional information on how you cancreate a tax free retirement, visit

(31:18):
Maggie Tax dot com. That's maGgi tax dot com. Or call eight
one three three two two twenty fivetwenty. That's eight one three three two
two twenty five twenty. Now yourhost for the Maggie Tax and Financial Hour,
father and son from Maggie Tax Advisoryand Financial Group, Robert and Chris

(31:41):
Maggie. Welcome back, everyone,and thanks for joining us today. My
name is Robert Maggie and I'm herewith Chris Maggie, my son. So
we've been talking about a lot.We always talk about a lot of topics
every week because it's so much toexplain, so many questions we get.
That's why we discussed this. Butthe biggest question is why work with Maggie
tax We do a lot. Wehave a lot of things going on and
hiring our financial advisor to assist youwith various aspects of your finances, such

(32:05):
as budgeting your income. We findout that a lot of people don't even
know what the word budget is.Planning out taxes, that's what we specialize
and in investing in the future isa great way to help you find a
clear goal and stick with it.We call it the Maggie Plant, simple
and easy to understand. So whatexactly should you be discussing when you meet
with us, Chris? What dopeople want to talk about? And what

(32:25):
do we usually ask them? Well, one of the questions, you know,
am I still on track with myfinancial goals? And you know,
we asked the question, you knowright back, do you have a plan?
And many people don't have a plan, you know, they don't think
about it. They just pile moneyaway. They put money away into Form
one k's or their iras or theirassets and along the way and they lose

(32:45):
track of beneficiaries, they lose trackof where the accounts are. And if
it wasn't for the statements being mailedto them, then they probably won't remember.
Some of these people. But whatyou need to understand is get everything
in one place, make sure thatyou have a balance sheet put together where
you know where your assets are.And visiting with us is so important because
we can meet monthly, quarterly,annually, whatever it is. It doesn't

(33:08):
matter. Every time we meet withyou. There's no charge, but we
can help you show you a lotof different ways and measure how far you've
come along with your financial goals.You know, whether you're seeking to pay
off your debts or save enough moneyfor a house. It could be very
easy to lose sight of your goalsin favor of unnecessary spending. So it's
important to meet with us. Let'sget together to put together a plan to

(33:30):
show you what your options are.You know, and this is important because
one time occurrence may have gotten alittle out of hand to the point where
you need a reminder of what youneed to do. And that's why you
do a review. That's why ifwe offer a second opinion, because you
can't get a second opinion from yourfirst advice. And we do this all
the time. So if you wantto achieve more goals and better a vision
of what you have. We callit the Maggie plan, get a second

(33:52):
opinion, and if you have aplan, it can be exciting to hear
that you've been doing well. Wewant to know that. And one thing
we talk about, Chris, ifsomeone comes in and they have a good
plan, we tell them. Butif they have a bad plan, then
we have to recommend, as afiduciary a better plan to let them make
a decision. So if it's notworking, we can help. And that's

(34:12):
it. You know, you needto make sure that you're on it,
or your advisors on it, oryou both need to be on it.
You know, we're all adults here. You need to make sure that we
work together to make sure that everythingis going right for you. So if
you don't have that relationship, youneed to get it and you need to
demand it. And that's what wedemand over here when clients work with us,
because we want it to be ateam effort moving forward. You know
you've done your part and need tohelp you do your part. Is in

(34:34):
a lot of different areas, andwe talked about, you know, taxes
and income planning and investment planning.Another question we get is how can I
prepare for my taxes? Taxes areour biggest expense. They're going to get
crazier in the future. Most peopleare going to pay a lot more in
tax I're going to have less income. Don't let that happen to you.
Take advantage of the opportunities out thereand don't fall victim to them. You
know, many tax payers go fortheir annual appointment during taxis and and are

(35:00):
very left either surprised or happy becauseone they're getting their refund, or a
complete disbelief because how much they owe. Why because they don't have a plan.
There's no tax plan there, soleaving things a mystery until the time
comes could be very stressful, especiallyif you already have other financial obligations or
other things with your health going onat that time. So we can help

(35:22):
you in time for the next taxseason, all you got to do is
pick up the phone, schedule timeto meet with us. Let's talk about
tax planning strategies and preparations for retirement. We had a client that just came
in last week and he wants tomeet with me quarterly before he makes his
quarterly tax payment. He wants tounderstand what the dividends and the interest and
the capital gains that would be inmanaged in his portfolio are doing on a

(35:44):
quarterly basis because it's causing him topay unnecessary taxes. So meet with the
right advisor. Let's put together aplan for you. Tax planning, income
planning, investment planning. Maggie taxdot com. So you might be driving,
or you might be sitting in theliving room or at work right now,
but go to my website Maggie Tech, click on seminars and register for
the seminar that we're doing on socialSecurity, on tax planning, this is

(36:06):
a topic right now that we're talkingabout. On your retirement calculator, on
what your retirement tax bill is goingto be. Let me illustrated to you
in person. Go to Maggie taxdot com today, register and register for
the seminars coming up. It's verysimple, and that's the only way that
we can help you get educated andunderstand the language. So do you know
what you know I should invest in? Is another big question we get I

(36:28):
think right now that most people areconfused at and everyone knows that investments are
a great way to place your moneyinto something that can grow in value or
at least secure your assets. SoChris, can you talk about some of
the portfolios that we have, andyou know that people don't have because only
the thing we see most of theyhave mutual funds, stocks, bonds.
But are there other choices and strategiesand concepts that they could use? It?

(36:50):
Sure is, and that's why wecall it red money, green money,
yellow money. And when you comein to meet with us, we're
going to explain to you the colorof money. And some people, you
know, take a shot in thedark and hope for the best. But
that's not very an advisable plan sinceit leaves you with little control over the
situation. You know, if youhave extra income that you don't want,
what do you do with it?You know, feel free to ask us
about proper investment planning. We canshow you how much your money is safe

(37:12):
or green money or even at riskwith red money, and we can help
you make a smarter decision that's morelikely to come out positive because if you
do that, you have a plan. You have different diversification options, you
have different strategies with a purpose.There's buffered index strategies out there where you
can have protection on the downside ifyou're in the market, and also if
the market goes down, you makemoney on the positive. So think of

(37:34):
it this way. You don't knowwhat you don't know, and many people
out there. There's the traditional investingand then there's the advanced investing or the
institutional side of things. You know, another reason to meet with us because
you need to learn. You needto understand what changes are out there,
what options are available for you.Don't just work with a broker who just
sells you a mutual fund. That'snot what it's about. There's so much
more to that. It doesn't matterhow much money you have. Pick up

(37:57):
the phone, schedule time to meetwith us. Let's get together. If
you want a tax plan, wecan help. If you want a social
security plan, we can help.If you want to talk about Medicare options
or estate planning options, we canhelp. If you have investments and you
have no idea what you have.Will you do have an idea what you
have, Let's get a second opinionon it. We can help eight three
to three Maggie. Tax. There'sso much there that we do to help
you. Pick up the phone,schedule time to meet with us. We

(38:20):
do complete planning. Why because that'swhat's needed. Tax planning, income planning,
investment, Planning eight three to threeMaggie Tax. Visit our website at
Maggi tax dot com and click onseminars for more information as well as don't
forget every Sunday on ABC TV forthe Magi Tax at the Financial Show at
ten thirty am. You've been listeningto the Maggi Tax on Financial Hour discussing
tax planning investment strategy is presented byRobert and Chris Maggie from Maggie Tax Advisory

(38:45):
and Financial Services with offices in Hillsboroand Panelas County. Visit Maggi Tax dot
com or called eight one three threetwo two twenty five twenty that's eight one
three three two two twenty five totwenty and tune in next Saturday at five
for the Maggie Tax and Financial Hour