Providence Financial Retirement Show with Anthony Saccaro

This week's podcast is an inside look at the four guiding principles that shape our financial planning approach at Providence Financial. Discover how these principles can help you build a strong financial foundation, navigate economic changes, and reach your goals with confidence. We will discuss each principle in detail, exploring how they drive smart investment strategies, income security, risk...

In this show, we're taking a higher level look at retirement than we normally do. We'll climb to the highest peak and look down, surveying the landscape.  What is your ultimate goal for retirement? Is it to pursue your favorite hobbies or pick up new ones? Is it to stay active hiking or biking? Is it travel? And if so, where will you go? How long will you stay? Will it be a 5-star resort or the ch...

Truth be told, I'm not a big fan of Halloween. In fact, it's my least favorite holiday (if you can even call it that). It celebrates death and, as a believer in the Lord Jesus Christ, there's nothing less worthy of celebration than that. But anyway - every year I like to do a show tied to the Halloween theme, and this week I'd invite you to listen as we discuss how you can avoid 10 pitfalls which,...

"Why are you so passionate about investing for income?" Someone asked me this question recently and we're starting this show with the four main reasons why:  1. you know you can count on your income because you don't have to sell shares and cannibalize your principal  2. it allows you to do planning, not guessing  3. it's much less stressful  4. it allows you to have a peaceful retirement, without...

We're rapidly approaching the end of the year and the time to start thinking about taxes is now. In this show, I cover 8 tax-saving strategies you can implement by the end of 2024 in order to maximize how much you keep.  retirement account contributions   Roth IRA conversions Required Minimum Distributions charitable giving deferring income accelerating deductions health savings accounts gifting s...

This week's show is a bird's eye view of seven core principles you must implement in order to enjoy a healthy retirement; we've covered each one in detail in previous episodes so make sure to browse our archived shows for more specific information on any topic you may want further help with.  1. determine how much money you will need to retire 2. strategize for Required Minimum Distributions  3. f...

As I meet with retirees day after day, I find that many of them did not take full advantage of the options available to them before they retired. Because of that, they are losing benefits and opportunities and certainly not maximizing their retirement.  In this show, I'll cover 6 key steps you should take before you retire in order to make the most of it.  1. develop a plan  2. eliminate debt  3....

What is the #1 quality needed to be a successful investor and retire well?  The answer is self-discipline.  The emotional part of investing has more effect on most people than they'd care to admit. Money is an emotional thing. Think about how you feel when your portfolio loses money; or the opposite, when your statement shows higher numbers than last month. If we have self-discipline, this rollerc...

Harris v. Trump presidency - how stable will your retirement be in either case? I weighed in on this recently for Yahoo Finance and Nasdaq and wanted to share my thoughts in this week's podcast. Listen in.  You can also read the articles here: Harris presidency outcome:  https://finance.yahoo.com/news/stable-retirement-savings-stay-under-120220853.html Trump presidency outcome:  https://www.nasdaq...

In this week's podcast, I'm going to ask a provocative question: Are you controlling your retirement, or is your retirement controlling you? As you're going to find out, I often find that most people are living their retirement in fear and they're not living the life they were expecting before they retired.  At the root of this issue is the emotional component. If you're not confident in your reti...

This week's podcast is a market update and there's certainly no shortage of topics to address: the FED, inflation, recession, what's ahead for stocks and for you as a retiree.  As always, we'll feature our Q&A segment answering questions you've submitted to the show. Listen in. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  LET'S CONNECT Show website: https://www.providencefinancialpodcast.com Find us at: http...

In this week's podcast I cover four reasons why it's harder for you to retire than it was for your parents:  1. technology advancement  2. information overload 3. changes to pension plans and 401(k) 4. changes to government benefits Listen in. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  LET'S CONNECT Show website: https://www.providencefinancialpodcast.com Find us at: https://www.providencefinancialinc.com...

This week's podcast is a Q&A based on some recent questions I've received from our listeners. Here are some of the topics we'll cover:  - what's the best way to take your Social Security?  - what are the biggest mistakes retirees make with their planning?  - should I include junk bonds in my portfolio? - if the Fed lowers interest rates this fall, how will that affect fixed income investments?  Li...

When it comes to retirement planning, one of the key questions people often grapple with is whether to keep things simple or embrace a more complex approach. Both strategies have their merits, but the right choice largely depends on your individual circumstances, goals, and comfort level with financial matters. A simple retirement plan typically involves basic strategies such as saving a percentag...

"I have a 401(k) and I'm retiring very soon. What factors should I consider when I think about whether or not to roll it over?" This is a recent question we received from our listener Andrew. A few years ago, it became quite popular for companies to allow in-service withdrawals. There are arguments on both sides and, just like for any other financial decision, there are many factors to consider, t...

This week's podcast is all about annuities. An investment vehicle that's popular with retirees because they're designed to give a steady stream of income that will last for life, annuities are also controversial - some of you hate them, some of you love them. Certain types of annuities have become a lot more popular lately because interest rates have gone up, so these types of annuities will give...

Last week marked 25 years since I got started in the financial planning business, on July 17, 1999. You know what they say about experience, right? It's something you don't get until just after you need it. Fortunately, with 25 years under my belt, I have plenty of it and for this week's show I've picked 5 lessons and 5 client stories to share with you; some of them are quite riveting, so hang on...

I've done quite a few interviews recently and the main questions always seem to be: where are we now when it comes to the economy, where are we going and how can we protect ourselves. My answer usually starts with inflation which has been hot but is finally showing signs of cooling off - not by a lot but we'll take whatever we can get. I explain why we have inflation in the first place and also co...

In today's show we're going to answer a few listener questions:  - Debt in retirement (the goal is to be debt-free, and that includes your mortgage)  - Required Minimum Distributions (how to avoid the largest tax in the IRS tax code)   - Life insurance (do you need it and how much do you need depending on your risk class)  Listen in. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  LET'S CONNECT Show website: ht...

This week's show is a bird's eye view of various sources of income you can take advantage of during retirement as you strive to maximize your savings and make them last as long as you do. We cover:  - Social Security  - investing for contract  - real estate investment trusts  - preferred stocks  - bonds  We also take a few minutes to explain what being an income advisor as a specialty means and wh...

How does Long Term Care insurance work? If you're in the camp that thinks, "I don't need it", you may simply not know enough about it yet, especially when it comes to the newer types of policies available.  Life Insurance on the other hand is thought of by most as a "necessary evil" - but as you'll find out after this show, it's actually a wise piece of the puzzle in any sound financial portfolio....

"What will the Federal Reserve do with interest rates in the near future and how will it affect my retirement?" This seems to be the question on everyone's mind lately, as news reports about the state of the economy come out seemingly weekly. The problem is, the leading authorities are great at spinning these reports in whatever way suits them best.  Apparently, the FED is getting inflation under...

Why is it so important to generate income through interest and dividends rather than through the withdrawal method? In this show, we explain the difference between the income method and the withdrawal method (selling shares). If you've been following our show for any length of time, you can probably guess which method we highly favor over the other. Listen in.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  LE...

How do you have a successful retirement? I've been a financial advisor for a quarter of a century and I've met many happy and fulfilled retirees, but also many who are not so happy and are even miserable.  When people retire and they don't have anything to retire for, they frequently end up passing away early. It's because they have nothing much to live for anymore. A successful retirement is not...

As a general rule, being proactive is better than being reactive. While there are certainly situations when waiting is the wise thing to do, there is a difference between that and procrastinating on what we already know we should be doing. That's definitely true about finances and especially as it relates to setting up a proper strategy to invest for and secure your retirement. In this show, we'll...