Providence Financial Retirement Show with Anthony Saccaro

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 distribution phase and it's time to enjoy the fruit of your labors.  You do need to be invested properly, however. If you're still invested for growth and, in order to spend money, you have to sell shares,  then next month you'll have fewer shares. If you keep cannibalizing your principal, eventually you'll run out. You're in a race against time.  So how do you need to be invested in order to actually enjoy your retirement? Find out.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  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://morelifethanmoneybook.com Amazon Author Page: https://amazon/author/anthonysaccaro 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 Facebook: https://www.facebook.com/Providence.FinancialInc/ Twitter: https://twitter.com/AnthonySaccaro LinkedIN: https://www.linkedin.com/in/anthonysaccaro/  

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. chasing short term gains  3. emotional turmoil  4. lack of discipline 5. taking too much risk 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://morelifethanmoneybook.com Amazon Author Page: https://amazon/author/anthonysaccaro 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 Facebook: https://www.facebook.com/Providence.FinancialInc/ Twitter: https://twitter.com/AnthonySaccaro LinkedIN: https://www.linkedin.com/in/anthonysaccaro/

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://www.providencefinancialpodcast.com Find us at: https://www.providencefinancialinc.com Get to know Anthony: https://anthonysaccaro.com Anthony's book: https://morelifethanmoneybook.com Amazon Author Page: https://amazon/author/anthonysaccaro 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 Facebook: https://www.facebook.com/Providence.FinancialInc/ Twitter: https://twitter.com/AnthonySaccaro LinkedIN: https://www.linkedin.com/in/anthonysaccaro/  

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 what retirement could look like for you:  lifestyle and mental well-being location and housing  travel and exploration  social engagement and hobbies  health care and insurance  estate planning  financial preparedness  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://morelifethanmoneybook.com Amazon Author Page: https://amazon/author/anthonysaccaro 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 Facebook: https://www.facebook.com/Providence.FinancialInc/ Twitter: https://twitter.com/AnthonySaccaro LinkedIN: https://www.linkedin.com/in/anthonysaccaro/  

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 think you'll only have a good retirement if the market does well for the next 20 years, then you may be invested wrong.  In this show, I offer a complimentary Retirement Risk Test - to take us up on that, visit our show website and request it.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  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://morelifethanmoneybook.com Amazon Author Page: https://amazon/author/anthonysaccaro 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 Facebook: https://www.facebook.com/Providence.FinancialInc/ Twitter: https://twitter.com/AnthonySaccaro LinkedIN: https://www.linkedin.com/in/anthonysaccaro/  

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 from his account and has another 30 years of life expectancy. The one major flaw in his plan? Not factoring in inflation, which in 10, 20 and 30 years means that he will have to start taking exponentially more money from his portfolio in order to make ends meet. Listen in to find out how we can solve his problem. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  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://morelifethanmoneybook.com Amazon Author Page: https://amazon/author/anthonysaccaro 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 Facebook: https://www.facebook.com/Providence.FinancialInc/ Twitter: https://twitter.com/AnthonySaccaro LinkedIN: https://www.linkedin.com/in/anthonysaccaro/

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 of time. Just like you don't plan a month-long international trip the week before, you shouldn't wait until last minute to plan for 2-3 decades in retirement. Here are 6 areas that you can be proactive in:  start at least a decade away from the time you think you will want to retire  pick your Social Security strategy wisely investment planning  tax planning  plan for Required Minimum Distributions  estate planning  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://morelifethanmoneybook.com Amazon Author Page: https://amazon/author/anthonysaccaro 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 Facebook: https://www.facebook.com/Providence.FinancialInc/ Twitter: https://twitter.com/AnthonySaccaro LinkedIN: https://www.linkedin.com/in/anthonysaccaro/  

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 for growth, it's all about capital appreciation and your goal is to buy low and sell high. You could make a lot of money - but you could also lose a lot of money.  When you invest for income, you're investing for the interest and dividends that the portfolio will give you. You know that, year in and year out, you will get a 5% rate of return, for instance, regardless of what the market does or what the value of the portfolio is at any point in time. So what's better - investing for growth or investing for income? 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://morelifethanmoneybook.com Amazon Author Page: https://amazon/author/anthonysaccaro 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 Facebook: https://www.facebook.com/Providence.FinancialInc/ Twitter: https://twitter.com/AnthonySaccaro LinkedIN: https://www.linkedin.com/in/anthonysaccaro/

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 me they made was not starting early enough.  In this show, I cover 5 principles for young people to follow in order to secure their financial future, and they are related to:  1. savings and investments  2. debt management  3. career advancement  4. insurance and risk management  5. starting as early as possible For more in-depth information, read "Total Money Makeover" by Dave Ramsey.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  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://morelifethanmoneybook.com Amazon Author Page: https://amazon/author/anthonysaccaro 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 Facebook: https://www.facebook.com/Providence.FinancialInc/ Twitter: https://twitter.com/AnthonySaccaro LinkedIN: https://www.linkedin.com/in/anthonysaccaro/

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. it can increase your portfolio's growth rate  2. it gives you something to dollar cost average in regards to the old money  3. it gives you dividends you can actually count on 4. it helps smooth out the volatility in your portfolio 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://morelifethanmoneybook.com Amazon Author Page: https://amazon/author/anthonysaccaro 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 Facebook: https://www.facebook.com/Providence.FinancialInc/ Twitter: https://twitter.com/AnthonySaccaro LinkedIN: https://www.linkedin.com/in/anthonysaccaro/