Providence Financial Retirement Show with Anthony Saccaro

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...

When it comes to retirement, taking a "wait and see and hope for the best" approach is not the smartest way to go. Yet that's what a lot of people do who come to me in the 10th hour, 3 months before retirement, expecting me to basically work magic and "make it all work out". In many cases, that's possible; but it would have been so much better if they had been proactive and started planning ahead...

Why is it so important to get your income from your investments?  There's a formula out there that reads as follows:  TR = I + G  Total Return = Income + Growth  The total return on any investment is a combination of the income you receive from the investment plus its total growth. Some investments only give you growth, whereas others only give you income, and some give you both.  When you invest...

Is 20 or 30 too early to start planning for retirement?  In my opinion, it's never too early to start building a solid foundation when it comes to savings and investments and securing your future retirement. The most important thing you can do in your 20s or 30s is to start now. It takes time for your money to compound and when you're that young, time is on your side. The #1 mistake retirees tell...

Have you heard people say "I don't want dividend stocks, I want growth stocks because I want to grow my portfolio?" Or maybe that's you saying this. If you think dividend investing is just for your grandparents who need to get income from their portfolio - I'm here to try and change your mind.  Dividend investing CAN help during the accumulation phase of life as well, and here are 4 reasons:  1. i...

I've recently been asked by a number of people whether or not they should get out of the market and find a better time to get back in later. From the war in Eastern Europe to the situation with China and Taiwan, high inflation and unemployment, a lot of people have anxiety about what's going to happen in the near future.  Market timing is basically trying to predict the future movements of the mar...

Predicting whether the future holds a recession or recovery remains a challenging task. Let's delve into the key factors influencing this trajectory and explore potential outcomes: - government policies and stimulus: unprecedented stimulus packages, including monetary measures and fiscal support, have provided a lifeline for individuals and businesses. The continued implementation of such policies...

What's the difference between investing for growth and investing for value?  Put simply, when you invest for growth you're investing in companies which have greater potential to grow. They tend to be innovative and are expected to grow at a faster rate. People tend to pay a premium for growth stocks because they have higher price to earnings ratios, which means they cost more compared to their rel...

In this episode we talk about how to manage market volatility during the second half of 2023. This is one of the biggest sources of stress for retirees and investors in general, but if you understand it correctly you can remain calm.  First, we have to define what volatility means - how much your investments can fluctuate in response to what the market does. Market volatility is not the same as in...

All financial advisors are required by law to be subject to one of two standards: suitability or fiduciary. In this show we'll define these two standards and explore the differences between them, which come down to 5 main categories:  duty to the client  scope of responsibility  disclosure requirements  compensation structure  legal remedies  Listen in to find out more.  >>>>>>>>>>>>>>>>>>>>>>>>>>...

In this show, we're going to cover 5 things you need to consider when hiring a financial advisor. We must first start by defining the role of a financial advisor. That's likely to be different for you than it is for your neighbor, since different people want different things from their advisor. The one thing all advisors should have in common though is that they should be the voice of reason who k...

If you've never heard of Fedcoin and FedNow or are confused about what these terms mean, this will be a good tutorial to listen to.  The term "Fedcoin" is derived from the combination of "Federal Reserve" and "coin" to represent a digital version of the US dollar. The concept of Fedcoin has been discussed and explored by economists, researchers, and policymakers as a potential form of central bank...

I had the privilege to attend the US Golf Open in Los Angeles recently and as the game of golf was of course on my mind, I realized that there are quite a few parallels that can be drawn between golf and retirement. Here are 9 similarities between them:  1. transition and preparation 2. enjoyment and leisure 3. skill development and adaptation  4. goal setting and personal growth  5. resiliency 6....