Providence Financial Retirement Show with Anthony Saccaro

What should you keep in mind about if you're considering Bonds as an investment option?  How can you use them as a capital appreciation play?  What are some alternatives if you think bonds might be too conservative for you?  These are the 3 points of interest we'll focus on during this show.   For our weekly listener questions segment, we'll talk about how to use an annuity for income and we'll ex...

Today we're diving into a timely topic: how your retirement investments may perform in this election year, when many investors find themselves wondering how political changes might impact their portfolios. Will the outcome of the election send markets soaring or plummeting? What strategies should retirees consider to safeguard their financial future amidst the political uncertainty? Election years...

In this episode, we'll cover the three main reasons to invest for income. The first one is quite obvious - you need income from your portfolio. The other two may surprise you, so listen in.  What if you don't need income from your portfolio because you have enough income from other sources? We'll answer this question in the second part of the show.  We'll also touch on value stocks and growth stoc...

"Where are interest rates going to go from here and how will they affect my investments?"  This is one of the most common questions I've been receiving since the beginning of the year.  There's no shortage of news when it comes to interest rates and this is what networks seem to talk about almost every time I'm asked to do an interview. The FED has been given two mandates: to control unemployment...

The choice between a Traditional IRA (Individual Retirement Account) and a Roth IRA depends on your financial goals, current tax situation, and future expectations. Here are some key differences we'll touch on during this show:  - Tax Treatment: Traditional IRA: Contributions are often tax-deductible, meaning you can reduce your taxable income in the year you make the contribution. However, withdr...

Welcome to this week's show - you'll notice it's twice as long as usual. With recent topics requiring more air time, rather than breaking up the topic into two shows, we're switching to one weekly podcast which will be released every Monday at 5 AM PST. Reach out to info@providencefinancialinc.com and let us know what you think about this change. We hope you find it helpful.  And now - on with thi...

There's no better time than the beginning of the year (and just a few months before tax time) to take an overview of your financial picture and make any necessary tweaks and tune-ups. This show is Part 2 of our previous podcast which aired on Monday and we finish covering 8 areas you may want to take a look at:  1. review your retirement goals  2. review your investment portfolio 3. tax planning 4...

There's no better time than the beginning of the year (and just a few months before tax time) to take an overview of your financial picture and make any necessary tweaks and tune-ups. In this show and the next, we cover 8 areas you may want to take a look at:  1. review your retirement goals  2. review your investment portfolio 3. tax planning 4. income planning 5. health care expenses 6. budgetin...

When do I take Social Security? How do I handle Required Minimum Distributions? Do I need Long Term Care Insurance? Should I position myself more towards income rather than growth as I get closer to retirement? These are just some of the retirement topics we'll cover during this show and the next. Listen in.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  LET'S CONNECT Show website: https://www.providencefinan...

When do I take Social Security? How do I handle Required Minimum Distributions? Do I need Long Term Care Insurance? Should I position myself more towards income rather than growth as I get closer to retirement? These are just some of the retirement topics we'll cover during this show and the next. Listen in.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  LET'S CONNECT Show website: https://www.providencefinan...

Increasing the wealth effect in retirement involves optimizing your financial strategies and making informed decisions to maximize your resources. In this show and the next, we cover several ways to do that: 1. develop clear goals for your retirement   2. establish an investment strategy  3. plan for healthcare expenses  4. prepare for loss of income  5. have an estate plan in place Listen in. >>>...

Increasing the wealth effect in retirement involves optimizing your financial strategies and making informed decisions to maximize your resources. In this show and the next, we cover several ways to do that: 1. develop clear goals for your retirement   2. establish an investment strategy  3. plan for healthcare expenses  4. prepare for loss of income  5. have an estate plan in place Listen in. >>>...

Here's part 2 of our mini-series focusing on creating a seamless transition between the working years and retirement. Just like any new habit or routine, retirement can take a while to adjust to. Listen in if you, like many, are secretly (or even openly) more scared to retire than you are excited.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  LET'S CONNECT Show website: https://www.providencefinancialpodcast...

Retirement is something most of us are going to do only once. It's basically breaking the habit of working, of the same routine we've been doing for 30-40 years. This is what our comfort zone is until we retire. There's a psychology behind breaking a habit, a routine or a comfort zone. In this show and the next, we will go over a few tips about how to make the transition between working years and...

To piggyback on my previous podcast about the possibility of a recession, I'm dedicating this episode to a discussion about what makes a strong economy. Here are 4 points we will consider:  low unemployment rate steady inflation stong consumer confidence healthy GDP growth Listen in.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  LET'S CONNECT Show website: https://www.providencefinancialpodcast.com Find us a...

It's been about a year and a half now since talks of recession first started; the economy seems to be doing relatively well and many are wondering if we're out of the woods or if a recession could still be possible. Here are 4 things to consider:  gross domestic product and economic contraction rising unemployment  declining consumer confidence  inverted yield curve  Listen in.  >>>>>>>>>>>>>>>>>>...

If you don't have a plan for retirement, you're undoubtedly going to live your golden years under stress. In this show, I give you 5 reasons why investing for income and planning ahead can keep your retirement stress-free:  1. a steady income stream to count on  2. reduced market risk  3. inflation protection  4. longevity risk mitigation  5. simplicity and focus Listen in. >>>>>>>>>>>>>>>>>>>>>>>...

Many listeners think that in order to invest for income they need to invest more aggressively. In fact, the exact opposite is true. Investing for income is more conservative than being invested for growth - and if you're in retirement, that's a win-win: you need income and you need to protect your portofolio from losses since you're not adding to it anymore like you did in your working years.  Her...

Retirement accounts are any IRA, 401(k), 403(b) SEP IRA, simple IRA or other employer-sponsored retirement accounts - any type of pre-tax account.   You put money into them pre-tax and postpone the tax; you save the tax dollars now but have to pay them later when you make your withdrawals. That's the first perceived benefit.  The second perceived benefit is that you get tax deferral on that money...

When someone retires in a household, there's a lot of adjustment needed which can become a new source of stress that the marriage has never experienced before. In this show, I cover 4 issues that couples need to be on the same page about as they plan towards retirement:  1. adjusting to a fixed income  2. disagreement on spending priorities  3. different retirement visions  4. risk tolerance and i...

It's hard to believe that Thanksgiving is just a week away, and as we get closer to the end of the year it's time to be thinking about what we need to do to be tax-efficient. In this show, we cover 5 tax considerations and some of them have deadlines so pay close attention:  harvesting tax losses and gains Required Minimum Distributions (RMDs)  Qualified Charitable Distributions  Roth IRA conversi...

How do you know when it's time to hire a financial advisor? If you know how to diagnose a financial problem but don't know how to handle it, you might consider hiring an advisor. The engineer-types who think they can handle it all may also benefit from considering a second opinion. Interestingly enough, our firm has more engineer clients than any other type of profession. So are you a DIYer or do...

Historically, annuity companies do really well when interest rates are high. At the moment, interest rates are almost at the same level as in 2008. Annuities that are being offered today are much better than those offered 10 or 15 years ago, and for this reason many of our clients have benefited from an annuity upgrade recently. Does an upgrade make sense for your annuity?  We start today's podcas...

When you're headed towards retirement, you have an accumulation plan. Once you retire, you should make the shift towards a distribution plan.  Switching to investing for income can be difficult if all you've been doing for decades is investing for growth.  In this episode, I'm going to use a farming analogy which you might find very helpful in understanding this paradigm shift. Listen in.  >>>>>>>...

When you're uncertain about something, you're going to have stress.  In this show, we'll bring to the table 5 things that can cause more stress than necessary when preparing for retirement.  health care costs inadequate investment planning no retirement income plan longevity  unknown tax implications  Listen in.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  LET'S CONNECT Show website: https://www.providencef...