Providence Financial Retirement Show with Anthony Saccaro

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 market so that you can sell when the market is high, wait for it to crash then buy when the market is low.  There are definitely some dangers to doing that, and in this show we cover a few of them. 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/    

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 can boost recovery efforts and potentially steer us away from a recessionary path. - consumer and business confidence: confidence is a driving force in economic recovery. The willingness of consumers to spend and businesses to invest is vital for restoring growth. Factors such as job security, income levels, and prevailing sentiments will shape the behavior of both consumers and businesses. Restoring confidence through effective communication, policy stability, and financial incentives is crucial for a sustainable recovery. - global trade and supply chain disruptions: the pandemic exposed vulnerabilities in global supply chains and disrupted international trade. The extent to which these disruptions can be resolved will significantly impact economic recovery. Efforts to diversify supply chains, enhance local production capacities, and strengthen international cooperation will play a vital role in ensuring a smoother recovery process. - technological advancements: the adoption of technologies such as artificial intelligence, automation, and digital platforms has accelerated. Continued investment in technological advancements can enhance productivity and provide avenues for economic growth and recovery. Listen in for more.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  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/

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 relative value. They tend to have higher volatility and uncertainty and a longer time horizon. Companies don't just grow or double in value overnight.  When you invest in value stocks, you're choosing companies which are out of favor with the market for one reason or another. You're hoping that eventually the value of these undervalued stocks will grow to their true potential. These are typically established companies with solid fundamentals which happen to be out of favor at the moment and growing at a slower pace. They tend to offer higher dividend yields which makes them attractive to income investors (such as us at Providence Financial).  Listen in for more.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  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/      

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 investment risk.  We also need to realize that there's an emotional component to investments. Watching the fluctuation in your portfolio is certainly going to create some emotion - in some, more than in others.  Listen in for 5 tips on how to handle this.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  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/    

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.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  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/  

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 keeps you from panicking and overreacting.  Here are 5 things to think about when choosing an advisor:  1. the different types of financial advisors 2. areas of expertise  3. the size of the firm (bigger is not always better)  4. the qualifications and experience of the advisor  5. how do you feel about the developing relationship Listen in as we go into detail about each one.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  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/  

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 digital currency (CBDC) that would provide a secure and efficient digital payment system. The "FedNow" service is designed to enable individuals and businesses to make instant, round-the-clock payments, which means funds would be available for use almost immediately after a transaction is initiated. The FedNow system will operate 24/7, 365 days a year, and will facilitate the transfer of funds between financial institutions in a secure and reliable manner. Listen in for further details and explanation.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  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 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. positive mindset  7. willingness to make changes 8. persistence and practice 9. flexibility and adjustments >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  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 get a lot of questions lately about precious metals and whether or not it's better to invest in them vs. stocks in order to keep ahead of inflation. The good news is that inflation has come down recently for the first time in over a year, but the inflation that has already happened is here to stay.  What should we do to fight it? Are #gold and #silver better #inflation hedges than stocks? We start by defining what an inflation hedge is - an #investment that aims to protect the value of your money against inflationary pressures which erode the power of your #money over time.  Listen in for our thoughts as we compare precious metals and stocks.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  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 we back into a bull market or do we have a recession looming around the corner? There are many experts on each side of the coin. If we do face a recession in the coming years, how do we best prepare for it? Here are 8 steps to take:  1. diversifying (not just within an asset class, but among asset classes)  2. maintaining an emergency fund  3. focusing on investing for income  4. staying flexible and adaptable 5. continually monitoring and adjusting your retirement plans  6. sticking to your long-term strategy  7. taking care of yourself physically and mentally  8. spending time in prayer and meditation 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/