Providence Financial Retirement Show with Anthony Saccaro

In this episode, we answer a few questions that some of you have called in with.  First, we'll talk about the best way to handle #RothIRA conversions so that the income from your portfolio pays the tax due.  Second, we cover the best investments that will be able to keep pace with #inflation.  Finally, are #annuities good for #retirement? Listen in to 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/  

Inflation is currently at 6.4% and the FED has made it clear that they're going to do what it takes to fight it and get it down to 2%. Personally I think this will take a couple of years and in the short run we can still expect high #inflation. How do you keep pace with it in the short run, and in the long run?  In the short run, the answer is simple: you don't. There's no #investment out there that's going to guarantee you a 6.4% return rate every year. Even with #stocks, you have to be in it for the long run to get that rate of return.  In the long run, keeping pace with inflation could come down to #incomeinvestments as a viable option. How? 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/

I recently had one of the longest client meetings in my career (almost 3 hours long) with a couple whom we'll call "Joe and Shirley". Throughout their entire life they had shrunk down their goals little by little to meet their income until they had completely lost their dreams. I spent almost the entire meeting showing them how they can build their dreams back up again because as it turns out they had plenty saved in order to create a comfortable #retirement income - they just didn't know how to do that.   Does this sound like you? You may want to 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/  

In this show, I'm going to put #retirement in a different perspective than maybe you've thought about. When you're in your 20s or 30s, it's all about the money. "We're never going to die" is the thought, so we're not giving time much thought. On the other hand, if you're over 65 and on the brink of retirement, is it more about the money or about the time? How many more go-go years do you have left before the slow-go and no-go years? Time becomes more important. What good is it to have a lot of money if you're too old to spend it?  So let's talk about what it takes to have a successful retirement:  time with family time to accomplish things on your bucket list peace of mind  knowing that you can count on #income from your #investments  Here's how you can get started on that path - 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/  

Recently, I had the opportunity to be invited to participate in ringing the #ClosingBell at the New York Stock Exchange. Even though it was a big honor, I couldn't help but make the mental comparison between #stockbrokers and cheerleaders. When you think about cheerleaders, they root for their team no matter how the team is performing. They may be being clubbered by halftime but the cheerleaders keep going in order to try and keep the team's spirits up and the fans excited about the game (or they may not buy a ticket again). Because when you think about it, sports are a business, and their goal is to get fans to buy tickets or merchandise or any conceivable team logo gadgets the mind can come up with.  It's no different with stock brokers. Their goal is to get you to buy #stocks or at least to not sell the ones you have. Regardless of whether or not the #stockmarket is doing well or is in a nosedive. The stock brokers are still out there with their pom-poms, cheering you on to stay at the casino table.  Listen in for more.  Take a look at my #NYSE Closing Bell experience: https://youtu.be/j7hDS83sIC8 >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 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're selling shares every month to pay the bills, does a #stockmarket drop hurt you or help you? It hurts, of course. If the market is down by 50%, you now have to sell twice as many shares as before and you're cannibalizing your portfolio even faster. Dollar cost averaging is a one way street. When the market is down 50% and you're buying stock, that works in your favor; but when you're selling shares, that hurts you. It's called reverse dollar cost averaging.  If you have 20 or 30 years ahead of you until #retirement, you should be invested aggressively. You have enough time to make up the losses, should they happen. But if you're already in retirement or at its edge, your portfolio should be comprised of mostly conservative #investments with a goal to produce a monthly #income regardless of market performance.  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 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/

Having the right mindset when it comes to saving for #retirement is critical. For decades, you may have been focused on #investment growth with little regard for the possibility of losses. As you hedge closer to retirement, that can be a deadly strategy that you just can't get away with anymore.  The absolute key to security in retirement is #income. A steady, month after month, market-proof income that you can't outlive. How do you create that? Listen in.  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/

As a #retirementincome specialist, I talk often about why #investing for income is a winning strategy when it comes to planning for #retirement. What exactly is investing for income, and why is it superior to investing for growth - especially when the #stockmarket is in a downward trend and accounts are losing value?  When you're invested for growth, it's all about the share price; if your balance goes up, then you win; if it goes down, then you lose; the whole point is that, a few decades down the road, your balance is hopefully larger than you started with.  When you're invested for income, it's not about the account balance, but rather, about the interest and #dividends that you receive from your portfolio. If you're properly invested, you can COUNT on your income - even during times of inflation, high interest rates and unemployment rates, pandemics or war overseas.  Want to learn more? Listen in.  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 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/

For the last year, the number 1 concern on people's minds has been #inflation. It's important that an economy has some inflation, but you don't want it to be too high. However, you don't want it to be too low either. Somewhere around 2%-3% is good. But inflation has crept up to the mid 6% which is way too high. In this economic environment, I often get asked these 2 questions:  - should I sell my #stocks?  - should I buy a #CD? Listen in for my thoughts. 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 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/

Since short-term CD rates are pretty attractive right now, some of you have called to ask if it's a good idea to buy a CD. In this show, we'll talk about why you may not want to give in to that temptation.  So, if short-term CDs are not a good idea, what's a good alternative? To answer this, we need to talk about interest rates and where they're headed. Listen in.  Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.com Anthony's book: https://morelifethanmoneybook.com 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/