Providence Financial Retirement Show with Anthony Saccaro

When it comes to retirement planning, one of the key questions people often grapple with is whether to keep things simple or embrace a more complex approach. Both strategies have their merits, but the right choice largely depends on your individual circumstances, goals, and comfort level with financial matters. A simple retirement plan typically involves basic strategies such as saving a percentage of your income in a 401(k) or IRA, choosing a handful of low-cost index funds, and automating your contributions. Benefits would include ease of understanding, lower costs and less stress.  On the other hand, a more complex retirement plan might involve multiple types of accounts, diverse investment strategies, tax optimization, estate planning, and perhaps even incorporating real estate or business interests. This comes with advantages such as customization, diversification and tax efficiency.  What's better for you? Listen in to find out how you can strike a balance between these two approaches. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  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 have a 401(k) and I'm retiring very soon. What factors should I consider when I think about whether or not to roll it over?" This is a recent question we received from our listener Andrew. A few years ago, it became quite popular for companies to allow in-service withdrawals. There are arguments on both sides and, just like for any other financial decision, there are many factors to consider, the first one being age. 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/

This week's podcast is all about annuities. An investment vehicle that's popular with retirees because they're designed to give a steady stream of income that will last for life, annuities are also controversial - some of you hate them, some of you love them. Certain types of annuities have become a lot more popular lately because interest rates have gone up, so these types of annuities will give you more income right now.  We'll cover these as well as some cons and pitfalls of annuities during this show. 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/

Last week marked 25 years since I got started in the financial planning business, on July 17, 1999. You know what they say about experience, right? It's something you don't get until just after you need it. Fortunately, with 25 years under my belt, I have plenty of it and for this week's show I've picked 5 lessons and 5 client stories to share with you; some of them are quite riveting, so hang on and 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've done quite a few interviews recently and the main questions always seem to be: where are we now when it comes to the economy, where are we going and how can we protect ourselves. My answer usually starts with inflation which has been hot but is finally showing signs of cooling off - not by a lot but we'll take whatever we can get. I explain why we have inflation in the first place and also cover wage inflation and how those costs get passed on to the consumer.  As a retiree, how can you protect yourself against rising inflation as you move 10, 20 and 30 years into retirement? My number one tip is to start planning early - a good 10 years or more before you retire.  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 today's show we're going to answer a few listener questions:  - Debt in retirement (the goal is to be debt-free, and that includes your mortgage)  - Required Minimum Distributions (how to avoid the largest tax in the IRS tax code)   - Life insurance (do you need it and how much do you need depending on your risk class)  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/

This week's show is a bird's eye view of various sources of income you can take advantage of during retirement as you strive to maximize your savings and make them last as long as you do. We cover:  - Social Security  - investing for contract  - real estate investment trusts  - preferred stocks  - bonds  We also take a few minutes to explain what being an income advisor as a specialty means and why working with an income advisor is a great idea once you exit the working years. 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/

How does Long Term Care insurance work? If you're in the camp that thinks, "I don't need it", you may simply not know enough about it yet, especially when it comes to the newer types of policies available.  Life Insurance on the other hand is thought of by most as a "necessary evil" - but as you'll find out after this show, it's actually a wise piece of the puzzle in any sound financial 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/

"What will the Federal Reserve do with interest rates in the near future and how will it affect my retirement?" This seems to be the question on everyone's mind lately, as news reports about the state of the economy come out seemingly weekly. The problem is, the leading authorities are great at spinning these reports in whatever way suits them best.  Apparently, the FED is getting inflation under control and GDP is slowing down to around 1%/year compared to 3.7% last year. The 10 year Treasury had been hovering around 4.6%, then dropped to 4.5%, then to. 4.4% just 2 days after the CCI report came.  This is important because when interest rates go up, the value of all financial assets tends to go down; the opposite is also true. So what's happening now is that everyone is speculating as to when the FED will start lowering interest rates. Listen in for my thoughts. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  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 generate income through interest and dividends rather than through the withdrawal method? In this show, we explain the difference between the income method and the withdrawal method (selling shares). If you've been following our show for any length of time, you can probably guess which method we highly favor over the other. 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/