Providence Financial Retirement Show with Anthony Saccaro

To piggyback on my previous podcast about the possibility of a recession, I'm dedicating this episode to a discussion about what makes a strong economy. Here are 4 points we will consider:  low unemployment rate steady inflation stong consumer confidence healthy GDP growth 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/

It's been about a year and a half now since talks of recession first started; the economy seems to be doing relatively well and many are wondering if we're out of the woods or if a recession could still be possible. Here are 4 things to consider:  gross domestic product and economic contraction rising unemployment  declining consumer confidence  inverted yield curve  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/

If you don't have a plan for retirement, you're undoubtedly going to live your golden years under stress. In this show, I give you 5 reasons why investing for income and planning ahead can keep your retirement stress-free:  1. a steady income stream to count on  2. reduced market risk  3. inflation protection  4. longevity risk mitigation  5. simplicity and focus 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/

Many listeners think that in order to invest for income they need to invest more aggressively. In fact, the exact opposite is true. Investing for income is more conservative than being invested for growth - and if you're in retirement, that's a win-win: you need income and you need to protect your portofolio from losses since you're not adding to it anymore like you did in your working years.  Here are 3 reasons why investing for income is more conservative:  it is tied to a contract income-based investments tend to fluctuate less  value stocks are more conservative than growth stocks  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/

Retirement accounts are any IRA, 401(k), 403(b) SEP IRA, simple IRA or other employer-sponsored retirement accounts - any type of pre-tax account.   You put money into them pre-tax and postpone the tax; you save the tax dollars now but have to pay them later when you make your withdrawals. That's the first perceived benefit.  The second perceived benefit is that you get tax deferral on that money until you decide to take it out. Because the money is growing inside of a retirement account, you don't pay any tax on the growth at all. Kind of nice, right? Many of you are putting into retirement accounts as much as possible because you want to save as much money in taxes as possible.  But ultimately - you still have to pay taxes on it. You're just postponing paying it. When you start taking withdrawals later, you're going to be in a smaller tax bracket so you're going to pay fewer taxes - or so you think. But as a retirement planner for decades, I can tell you that's just a theory that doesn't work in practice. When people retire, they're often making more money and are in a higher tax bracket than 15-20 years earlier.  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/

When someone retires in a household, there's a lot of adjustment needed which can become a new source of stress that the marriage has never experienced before. In this show, I cover 4 issues that couples need to be on the same page about as they plan towards retirement:  1. adjusting to a fixed income  2. disagreement on spending priorities  3. different retirement visions  4. risk tolerance and investment decisions  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/

It's hard to believe that Thanksgiving is just a week away, and as we get closer to the end of the year it's time to be thinking about what we need to do to be tax-efficient. In this show, we cover 5 tax considerations and some of them have deadlines so pay close attention:  harvesting tax losses and gains Required Minimum Distributions (RMDs)  Qualified Charitable Distributions  Roth IRA conversions  maximize contributions to your tax-advantaged account >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 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 do you know when it's time to hire a financial advisor? If you know how to diagnose a financial problem but don't know how to handle it, you might consider hiring an advisor. The engineer-types who think they can handle it all may also benefit from considering a second opinion. Interestingly enough, our firm has more engineer clients than any other type of profession. So are you a DIYer or do you like the peace of mind of working with a professional? 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/  

Historically, annuity companies do really well when interest rates are high. At the moment, interest rates are almost at the same level as in 2008. Annuities that are being offered today are much better than those offered 10 or 15 years ago, and for this reason many of our clients have benefited from an annuity upgrade recently. Does an upgrade make sense for your annuity?  We start today's podcast with a primer on annuities (hint: we're referring to fixed indexed annuities here) and we continue with the main reasons why upgrading an annuity might make sense.  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/

When you're headed towards retirement, you have an accumulation plan. Once you retire, you should make the shift towards a distribution plan.  Switching to investing for income can be difficult if all you've been doing for decades is investing for growth.  In this episode, I'm going to use a farming analogy which you might find very helpful in understanding this paradigm shift. 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/