Providence Financial Retirement Show with Anthony Saccaro

Halloween is just around the corner and I couldn't pass up the chance to talk about 5 real life scary financial stories. These people didn't know they were in trouble and that's precisely what hurt them. Listen in to find out if you might unknowingly be making the same mistakes.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  LET'S CONNECT Show website: https://www.providencefinancialpodcast.com Find us at: ht...

New money is money earned while you're still working and saving in your retirement accounts whenever you get paid.  Old money refers to the investments you already have.  One of the biggest mistakes I see as a retirement planner and financial advisor is not differentiating between how one invests new money compared to old money.  Because they should be invested differently. Listen in to find out h...

Are you on the brink of retirement and maybe starting to get a little bit nervous? If so, it's important to know that you're not alone. I just recently spoke with a brand new client of ours that I had met three or four months ago. He decided to become a client based on our communications and the fact that we can help him retire and he's going to be retiring in December. And four months ago when we...

Retiring well is all about having enough income. Here at Providence Financial we focus on investing for a lasting income you can count on, without any worry that it will ever run out. Once in a while we'll get questions about investing in real estate and how that might fit into one's retirement plan. We also get people who want out of the headaches which can come with investing in real estate, suc...

In this show, we talk about 3 mistakes retirees make when setting up a retirement plan or following through with it.  1. they procrastinate too much  2. they make snap decisions about very important issues  3. they look at the bottom line too often Are you making these mistakes? Listen in. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  LET'S CONNECT Show website: https://www.providencefinancialpodcast.com Find...

Here we are, episode #300 today! A special milestone that I wanted to mark by thanking all of you who have been loyal listeners over the past 4 seasons. I hope that you're finding value in this content and are using it to help you navigate your own retirement waters in a less stressful way.  I thought about what I'd like to share in this episode and the one word that came to mind was this: predict...

Depending on your mindset going into retirement, your golden years can be very fulfilling and full of excitement, or they can be stressful and full of anxiety.  In this podcast, I cover 7 points that will help you prepare for retirement so you can actually enjoy it rather than live year by year in fear of running out of money, out of health or both. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  LET'S CONNECT...

As a financial advisor for over two decades, one of my core beliefs is that you need to put yourself in a position to win no matter what phase of life you're in or what cards you're dealt by the economy or the markets. What strategies can you implement to maximize your hard-earned dollars in the three main life phases?  the accumulation phase the pre-retirement phase the distribution phase Listen...

This show is geared towards those of you who are truly concerned about running out of money during retirement. From creating a budget to changing your investment strategy from growth to income, we cover 9 ways for you to maximize your savings to last through retirement. Listen in.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  LET'S CONNECT Show website: https://www.providencefinancialpodcast.com Find us at:...

In this show, I'll cover the top 7 mistakes I've seen in my 20+ years of experience working with people of retirement age. Based on some of the chapters of my book, "More Life Than Money - How Not To Outlive Your Savings", here's what we'll talk about:  incorrect IRA conversions missed required minimum distributions not maximizing tax deductions  being invested wrong for the current phase of life...

In this show, I tackle 4 questions received from our listeners:  1. variable annuities  2. reverse mortgages  3. Roth IRA conversions  4. short-term CDs Listen in.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  LET'S CONNECT Show website: https://www.providencefinancialpodcast.com Find us at: https://www.providencefinancialinc.com Get to know Anthony: https://anthonysaccaro.com Anthony's book: https://morelif...

"I realize I'm taking a little more out of my portfolio than I'd like, but there's probably enough money to last me through retirement."  "I'm regularly spending a little more than I should but I'm sure it will work out."  These may sound like minor mistakes, but over time they can add up. At 85 or 90 years old, if you make a financial mistake, chances are you will be fine; but if you make that sa...

Not knowing what health needs one might have down the road is a major cause of worry for those who are retired or close to it. There's a lot of confusion about long term care insurance and in this show we'll answer a few questions about it:  what is is what are the odds of needing it how much does it cost ways to pay for it how to use it Long Term Care insurance to pay for LTC  Listen in.  >>>>>>>...

Here's part 2 of our most recent quarterly Client Webinar, a chance for our clients to ask questions and receive answers in a live conversation with us to which they are welcome to invite family and friends. Listen in.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  LET'S CONNECT Show website: https://www.providencefinancialpodcast.com Find us at: https://www.providencefinancialinc.com Get to know Anthony: htt...

Retirement is the most expensive purchase you'll ever make; you can't afford to mess it up. It has been compared to a second career. Just like the career you had during your working years, you have to have the knowledge for it. You need to know how to retire.  Retirement has also been compared to a puzzle - there are many different pieces that make it up, such as Social  Security, IRA and retireme...

Every quarter, our Providence Financial clients have the opportunity to attend a live webinar, invite their family and friends to submit questions and have a conversation with me about all matters related to retirement. Here's our latest webinar - if you enjoy part 1, make sure to listen to part 2 next Thursday, September 14.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  LET'S CONNECT Show website: https://w...

Here are Providence Financial, our goal is for you to have a stress-free retirement. After being a retirement advisor for almost 25 years, I've realized that most retirees are afraid of the same things - and many of them aren't even aware they're afraid.  Here are some common fears:  - fear of dying itself  - fear of how you're going to die - fear of what will happen to your stuff once you're gone...

What does it mean to be invested by contract? It means that you have a direct contract with the investment company; you own that contract and you get the guarantees listed in it. Outside of bankruptcy, you can count on those guarantees. If the contract says the investment will pay you a certain income, you can count on that income. At Providence Financial, we believe in retirement planning, not re...

I recently attended an air show in Camarillo, California. Between the F18 zooming by at over 700 mph, the WW2 bombing simulations and plane formation aerobatics - it was an amazing experience.  What caught my ear was the announcement made before the show started, stating that every single maneuver had been carefully planned; each plane knew exactly when to take off, each turn and twist and loop wa...

As a retirement advisor for over 25 years, I've come across many retirees (especially in the last couple of years) who are deathly afraid to spend down their retirement savings. They would never pay for things that they can actually easily afford - such as flying first class, for instance. If you've worked hard and have successfully navigated the accumulation phase of life, you're now in the distr...

We've all heard it said, "patience is a virtue" - and that's certainly true. But when it comes to real life, how many of us actually believe and practice patience? Southern California freeways come to mind, for instance. Most of us tend towards impatience.  During retirement, being impatient at the wrong time can really hurt you down the road. Here are 5 reasons why:  1. market timing risk  2. cha...

Back by popular request - a Q&A show, and today we'll cover 3 topics:  1. long term care  2. annuities  3. investing for income  We'll also discuss how these seemingly separate topics actually tie in together perfectly (hint: you can use an annuity to fund long term care as well as invest for income). Listen in to find out how.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  LET'S CONNECT Show website: https:/...

Are you confident that your retirement will be your "golden years", or are you worried that it might be your "rusty years"? I talk with a lot of people who don't know when they're going to retire but worse yet, they don't know why they want to retire and have absolutely no plans as to what they would like to accomplish during retirement. Here are 7 tips to help you crystallize a better vision of w...

Investment risk assessment is not an easy thing to determine because it's highly personal and because the market is unpredictable. If we do have another recession and the stock market has a major correction, will that affect your future and the things you plan to do during retirement? If the worst case scenario happens and you're planning for the best case scenario, you may be in trouble. If you t...

I recently had a meeting with someone who contacted us from the show and who has around $2M - all sitting in cash. When I asked why, he said it's because he doesn't want the stress of having to watch the market fluctuate and worry about his portfolio. He doesn't care that he's not earning anything and concluded, after calculations, that he'll never run out of money even though he is withdrawing fr...