Listen: Chris It, Five Percent And Six Percent discussed on Maggi Tax
"Your money throughout retirement. So my question, we meet with you is what kind of income sources, you have many people say, well, I have social security. Four years ago, you work for a company you have a pension, but you can create your own family pension think about that you can create your own family pension. How do you do that? We can show you how you probably know about some of these retirement vehicles that are out there. Now, honestly social security is one of them to help protect you. You know, many people think well, you're so skinny going to be there. Well, if you're receiving social security now, you probably will. But for me, I'm a lot younger than than a lot of people. Probably listen to today's show, but who knows? Okay. It might be there. But it might be there. But it's at a longer or an age that we have to wait longer to get that benefit. But who knows where it's going to be just remember one thing that social security they promised to pay your income for life, regardless of how long you live. Right. Exactly. And that's that's what guaranteed incomes about. So just remember that wasn't designed for. Planning your retirement, just on social security. It was just a supplement your retirement. Exactly. So another example, if I may which some employees may offering some of this might be for some of you is pensions for life or income pensions for life that are guaranteed to pay retirees for the rest of their life. That's what Chris was talking about. If you don't have a pension. There's a way to create it and many more employers are replacing their income for life pensions with with what they called defined contribution plans such as the 4._0._1._K's for three Bs, which they can really help you save for retirement. But they don't always offer a way for people to have what they call lifetime income options. And we talked about that before when you have a 4._0._1._K for three beer retirement plan. Chris it's infected with taxes. Right. It's deferred. So is that good? It is. But then you gotta put in. Well, I'm going to get the income the tech side of it down. Right. And that's why it's important to do a complete plan from the tax side and the insurance from the investments, and that's. What we're talking about income because the government doesn't want to support you you have to sports yourself. So if you have guaranteed income options, they think that's great. It's a great thing. So how do you how do you create your own income plan? You know, many retirees just hold onto the former cage or they roll over the former occasion IRA's when they retire. And then they take distributions on their own. They don't have a systematic way of doing exactly instead of distributions in a structured format or a structured payment. That's what we're talking about. How you can design that for you because people are living longer people have stress know, they're stressed about those retirement accounts. How long they're really gonna last. So what do they do? They take a little bit about out of it. If we can assure you that you can have guaranteed income and have a five percent payout or a six percent pay for wife. Doesn't matter. How long you live? It will still pay you. How cool is it to go? Wake up every morning on the first of the month, go to your mailbox grab those checks. Go back into your house cash them. At the Bank spent on that money for the for the whole month the next thirty days, and then do the same thing on the first of the next month for life. And the other thing is many Americans facing the reality. And we talk about this in the prospects of spinning down all their 4._0._1._K or the IRA savings because they don't have a lifetime income plan. And that's what we create here at Maggie tax. We have the division the tax division, the income division, the investment division and the insurance division in folks. This is what you need to do when you have a plan. You know, many people worried about being left with little income other than social security, and I know there are people out there that are on a fixed income, and that's all they have. But that's the way they planned their retirement. And that's."