Providence Financial Retirement Show with Anthony Saccaro

Our biases tell us that we think we know certain things - but our biases are often wrong. In this episode, I share the powerful story of a client whom we'll call "Sharon" who has some tough medical and life issues going on. When I met her a few years ago, her plan was to retire in Alaska, but due to health challenges and lack of care there, that plan is not feasible anymore. The financial componen...

My book, "More Life Than Money - How Not To Outlive Your Savings", is scheduled to hit Amazon and bookshelves nationwide this Tuesday, February 7. This show is a sneak peak into the book and the topics covered, with the goal of helping you prepare for retirement because what you don't know CAN hurt you down the road. Listen in for a preview into the various chapters of the book; my promise is that...

What is a pension? Many people are surprised to find out that it's not a 401k or 403b. A pension is an employer-sponsored plan that is designed to provide an income stream for life - and by definition, that's an annuity. In this episode, we discuss 5 things you need to take into consideration when deciding the best way to take your pension (unless you're a teacher or government worker, in which ca...

Correlation is a concept that refers to how things relate to each other: things that are correlated move in the same direction, and vice versa. Listen to this show to find out how this applies to stocks, bonds and cash and the way their respective values correlate with each other (or don't). You'll learn about what happens to bonds when stocks are doing well, when the best time is to have more mon...

For anything in life, there's a potential range of outcomes - and it's no different with retirement. What you do early on to prepare will determine the outcome. If you're invested properly, you will reap the reward of never having to worry about income after you stop working. Many people however stay invested for growth until after they retire and end up eating their chickens, not the eggs - canni...

The longer you have until you retire, the more you can afford to make mistakes. But if retirement is just around the corner for you, the margin for error is much smaller. In this show, we talk about some common mistakes I see which can turn out to be quite costly in the end, from regularly taking just a little too much money out of your portfolio to relying upon an unrealistically big return on in...

At the beginning of the year, Congress passed the Secure Act 2.0 which brings about some changes regarding IRAs and employer-sponsored retirement plans. Some of these changes are exciting, others - not so much. One of the main changes has to do with using Required Minimum Distributions to fund charitable donations, and the tax ramifications this entails. Listen in if you have an IRA or employer-sp...

401(k), 403b, 457 and other types of retirement accounts usually have either the traditional IRA option or the Roth IRA option. What's the difference between the two? It has to do with when you pay taxes. In a traditional retirement account, you're going to put money into it today without paying any taxes, and you're going to pay taxes on any amount you will withdraw from it at a later point. With...

I often find that the Social Security Spousal Benefit is not only a missed but also a misunderstood benefit. It is often confused with the Widow's Benefit, but the Spousal Benefit is actually available to you while you are still living as long as you have been married for more than 10 years. Little known-fact: even if you are now divorced but you were married for over 10 years, you can still take...

Even the most successful leaders and athletes have a coach. As a matter of fact, the more successful you are, the more likely it is you didn't get there without a coach, and you won't move forward without one. It's no different when it comes to retirement. Many DIY warriors may do ok during the first phase of life (the accumulation phase), but not so great when it's time to move on to the distribu...

When it comes setting goals, it's smart to be SMART about them. What do I mean? If you haven't heard the acronym, here's what you need to aim for when you set your goals, and how each of these features applies to finances and retirement:  - S pecific  - M easurable  - A chievable  - R elevant - T ime-bound  Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancia...

Welcome to 2023! Perhaps there's no more fitting topic to start the year with than New Years resolutions. In this show, we discuss the 5 most important resolutions any retiree or preretiree should make as we head into 2023:  1. reasses how much risk you're willing to take  2. reasses the investments in your portfolio ("retirement risk assessment")  3. set personal, specific goals regarding what yo...

One of the most often asked questions from clients and listeners has to do with the relationship between bond values and interest rates. In this episode, we answer this question in detail:  why bond values go up when interest rates go down  what is the difference between direct and indirect ownership of a bond how does income investing work why you can still count on the income from your investmen...

Are you making one of these 7 mistakes as you're heading towards retirement? Find out - listen in.  Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.com YouTube: https://www.youtube.com/c/AnthonySaccaro/featured Radio: https://www.providencefinancialradio.com Yelp: https://www.yelp.com/biz/providence-financial-and-insurance-services-inc-woodland-hills...

Why is there a disparity between inflation, the FED and unemployment? Where will the stock market go from here? These are just a few of the questions we answered during our most recent client webinar. We'll replay it here and it's our longest episode yet, we hope you'll find it helpful.  Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.com YouTube: ht...

Just like a well-run music show, symphony or ballet, there are many moving parts that need to come together in a synchronized manner in order for your retirement plan to run without a hitch.  Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.com YouTube: https://www.youtube.com/c/AnthonySaccaro/featured Radio: https://www.providencefinancialradio.com Y...

If you don't have the basics down, nothing in life works. Finances are no different. You have to start with a solid foundation before you can build anything of lasting value. In this episode, we get back to some of the basics of a well-planned financial portfolio. Listen in.  Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.com YouTube: https://www.yo...

Did you know there are different types of financial advisors? Choosing the right one for your particular situation and phase of life is an important decision. In this show, we cover the differences between financial advisors, the services they provide and the ways they get paid - listen in.  Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.com YouTube...

When was the last time you made a reallocation within your portfolio? If you can't remember, chances are your investments are on autopilot. Here's why that's costing you money - listen in.  Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.com YouTube: https://www.youtube.com/c/AnthonySaccaro/featured Radio: https://www.providencefinancialradio.com Yel...

If you're invested the right way, you're winning even during the times when your balance is down. Here's how - listen in.  Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.com YouTube: https://www.youtube.com/c/AnthonySaccaro/featured Radio: https://www.providencefinancialradio.com Yelp: https://www.yelp.com/biz/providence-financial-and-insurance-serv...

There are a number of reasons people get complacent in their retirement planning; one of them is when the stock market is doing well - they don't want to make any changes, as in "why mess with a good thing?" When portfolios start going down in value, they can get complacent because they don't know what to do - should they buy more, get out of the market, or realocate? If you tend to freeze and pro...

These three questions come from listeners who, just like you, are confused about the best way to go about their investments heading up to retirement. Can you relate? Find out - listen in.  Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.com YouTube: https://www.youtube.com/c/AnthonySaccaro/featured Radio: https://www.providencefinancialradio.com Yelp...

In this episode, we go through the main features of an IRA as opposed to a Roth IRA in order to help you determine which one better suits your individual needs and investment goals. Listen in. Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.com YouTube: https://www.youtube.com/c/AnthonySaccaro/featured Radio: https://www.providencefinancialradio.com...

Required Minimum Distribution, contribution and conversion deadlines - what are they and do you need to do anything about them? Listen in.  Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.com YouTube: https://www.youtube.com/c/AnthonySaccaro/featured Radio: https://www.providencefinancialradio.com Yelp: https://www.yelp.com/biz/providence-financial-a...

"Am I invested correctly? Should I jump ship? Should I sell (or the opposite, buy more)?" Many of you are calling in worried about the current economic and socio-political situation. Like the proverbial song, this show may help ease some of your worries - listen in.  Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.com YouTube: https://www.youtube.com...