Providence Financial Retirement Show with Anthony Saccaro

Got your thinking caps ready? Time for some investment math: Total Return = Income + Growth When you invest for growth, it's all about capital appreciation and your entire 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, the value of your portfolio doesn't matter. You're investing for the interest and dividends that the portfolio will give you. You know that, year in and year out, you can count on the income from your portfolio, regardless of what the market does.   Are you investing for the I or for the G? Which is better? 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/

In today's show, we're airing a recent podcast I was interviewed on for Money Life with Chuck Jaffe. As a former Senior Columnist for MarketWatch for 14 years, Chuck is the host of a daily daily financial talk show focusing on investing, handling, managing, planning for and protecting your money. In our conversation, we addressed topics such as the number one concern of retirees and how do you know if you will outlive your money. We also talked about annuities and Social Security so there is a lot jam-packed in this interview that you may benefit from - take a listen.  Find Chuck Jaffe at: http://moneylifeshow.com Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.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/

In light of what is going on with the market today, what's the best way to set up your retirement plan? In this show, we cover 3 steps you must take to ensure your success in retirement and beyond:  strategy preparation execution  Listen in for practical ways to implement these steps, whether you're close to retirement or still have a couple of decades to plan.  Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.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/

Our biases tell us that we think we know certain things - but our biases are often wrong. In this episode, I share the powerful story of a client whom we'll call "Sharon" who has some tough medical and life issues going on. When I met her a few years ago, her plan was to retire in Alaska, but due to health challenges and lack of care there, that plan is not feasible anymore. The financial component is another issue: Sharon has a surgery coming up that is not covered by insurance; her house needs a new roof; she has to scrimp to make ends meet in retirement due to inflation; and she's worried about outliving her savings. Listen in for the feedback and solutions I offered to her during our meeting.  Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.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/

My book, "More Life Than Money - How Not To Outlive Your Savings", is scheduled to hit Amazon and bookshelves nationwide this Tuesday, February 7. This show is a sneak peak into the book and the topics covered, with the goal of helping you prepare for retirement because what you don't know CAN hurt you down the road. Listen in for a preview into the various chapters of the book; my promise is that if you're anywhere near retirement age, there most certainly is at least one chapter in the book that applies to you.  Order "More Life Than Money" here: https://morelifethanmoneybook.com Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.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/

What is a pension? Many people are surprised to find out that it's not a 401k or 403b. A pension is an employer-sponsored plan that is designed to provide an income stream for life - and by definition, that's an annuity. In this episode, we discuss 5 things you need to take into consideration when deciding the best way to take your pension (unless you're a teacher or government worker, in which case you don't have a choice - you have to take the monthly income):  1. what is the break-even period (not counting interest or dividends or potential growth)  2. what is the return on investment  3. do you need the income  4. do you have enough saved outside of your pension  5. do you care about leaving an inheritance  Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.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/

Correlation is a concept that refers to how things relate to each other: things that are correlated move in the same direction, and vice versa. Listen to this show to find out how this applies to stocks, bonds and cash and the way their respective values correlate with each other (or don't). You'll learn about what happens to bonds when stocks are doing well, when the best time is to have more money in cash and how to set up your portfolio for proper diversification.  Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.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 anything in life, there's a potential range of outcomes - and it's no different with retirement. What you do early on to prepare will determine the outcome. If you're invested properly, you will reap the reward of never having to worry about income after you stop working. Many people however stay invested for growth until after they retire and end up eating their chickens, not the eggs - cannibalizing their principal. Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.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/

The longer you have until you retire, the more you can afford to make mistakes. But if retirement is just around the corner for you, the margin for error is much smaller. In this show, we talk about some common mistakes I see which can turn out to be quite costly in the end, from regularly taking just a little too much money out of your portfolio to relying upon an unrealistically big return on investment. Listen in for the other 3 mistakes. Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.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/

At the beginning of the year, Congress passed the Secure Act 2.0 which brings about some changes regarding IRAs and employer-sponsored retirement plans. Some of these changes are exciting, others - not so much. One of the main changes has to do with using Required Minimum Distributions to fund charitable donations, and the tax ramifications this entails. Listen in if you have an IRA or employer-sponsored retirement plan.  Show website: https://www.providencefinancialpodcast.com Find us at: www.providencefinancialinc.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/