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.providence ..read more

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 numb ..read more

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.providencefina ..read more

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.  >>>>>>>>>>>>>>>>>> ..read more

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.providen ..read more

"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 rep ..read more

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.p ..read more

How do you have a successful retirement? I've been a financial advisor for a quarter of a century and I've met many happy and fulfilled retirees, but also many who are not so happy and are even miserable.  When people retire and they don't have anything to retire for, they frequently end up passing away early. It's because they have nothing much to live for anymore. A successful retirement is not just defined by how much money you have saved; but by the goals you have set for yourself as you enter this new phase of life.  We retire to live, not to die. What if you live another 30 yea ..read more

As a general rule, being proactive is better than being reactive. While there are certainly situations when waiting is the wise thing to do, there is a difference between that and procrastinating on what we already know we should be doing. That's definitely true about finances and especially as it relates to setting up a proper strategy to invest for and secure your retirement. In this show, we'll talk about different areas where people tend to procrastinate in when it comes to retirement planning. Some of these can be quite costly, so listen in. >>>>>>>>>>>> ..read more

You may have never given much thought as to how many of your decisions are made based on biases that are mostly unconscious. How you look at life is based on your biases and preconceived ideas that help you form your opinions which in turn lead to your actions.  In this week's show, I cover 10 hidden biases related to your finances and your retirement. Listen in. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>  LET’S CONNECT Show website: https://www.providencefinancialpodcast.com Find us at: https://www ..read more