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  Anthony A. Saccaro Wins Top Advisor of the Year

  Roth 401K vs. Traditional 401 K

  iPad 2 Winner of Senior Symposium Raffle

Pat Strucke and Anthony A. Saccaro

The ONEgeneration Fourth Annual Senior Symposium on May 19 was a fun event that drew hundreds of participants, many of whom stopped by our booth for free giveaways and a chance to enter our iPad 2 Raffle.
Staff members Krystal Soutar and Drew Bell draw the lucky name.

The lucky winner was Ms. Pat Strucke from Granada Hills. Congratulations! Enjoy your new iPad 2!

Krystal Soutar and Drew Bell welcome a visitor.
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Anthony A. Saccaro Wins Advisor of the Year
Achieved 175% Business Growth in 2011

Providence Financial's president, Anthony A. Saccaro, ChFC, was named the top advisor of the year at the Advisors' Academy Top Advisors Awards Gala in Key Largo, Florida on May 8.

The top honors in the "Highest Percent Business Growth Year Over Year" category were awarded solely on personal performance improvements and not on overall production. Anthony was one of five runners-up, each of whom had at least 33% business growth in 2011. He won first place for achieving 175% business growth.

The Advisors' Academy is the financial advisor industry's premier mentoring program, offering one-on-one mentoring and unlimited and ongoing practice management support, with nearly 200 members in the United States. It was founded by CEO David Scranton, ChFC, one of America's most respected and successful financial advisors, CEO of Scranton Financial Group, and author of "Financial Insanity."

In presenting Anthony with the award, David said, "Anthony's practice has grown by leaps and bounds, in large part because he's a man of very high moral and ethical fiber. Anthony is a student of the financial markets and is a top-notch expert in income-generating non-stock market strategies. His staff is excellent and provides an extremely high level of client service. I know many advisors in the L.A. area and Anthony stands head and shoulders above all of them."

Anthony acknowledged his indebtedness to The Advisors' Academy and David's invaluable mentorship, and praised his staff for "their consistently dedicated work in service to our clients. Winning this award is both a blessing and an inspiration to better ourselves, go above and beyond and always keep striving to exceed our clients' expectations, each of whom we highly value and appreciate."

Read the entire news release

Photo: Anthony Saccaro (L) and David Scranton (R)
Roth 401K vs. Traditional 401K

By now, most Americans understand that at the very least, they should be participating in their employer’s defined contribution plan,most commonly offered in the form of a 401(k). But some companies offer two forms of these plans: the traditional 401(k) and the Roth 401(k). You thought deciding how much to allocate to your plan and then researching and electing the investment funds to support it was confusing enough, but here you are, faced with yet another option for safeguarding some retirement funds. Let’s break it down just a bit more.

What’s the difference?
The primary differenc
e between a traditional and a Roth 401(k) is simple but significant. With a traditional 401(k) plan, your contributions grow tax free, and you pay taxes on the withdrawals; Roth 401(k)s, on the other hand, work in precisely the opposite way, as you pay taxes on your contributions but not on your withdrawals.

Additionally, Roth 401(k)s tend to be seen as more of an estate planning tool, since they do not necessitate that you to take required minimum withdrawals (RMDs) once you reach age 70 ½, as you must do with traditional 401(k)s. This allows you to leave your funds untouched for as long as you want after retirement, letting your investment grow tax free all the while.

Which is right for you?
This is a conversation best held with your financial advisor, as you must determine whether the back-end payoff of a Roth 401(k) outweighs the benefits of traditional tax deferral on the front end, but generally speaking, it depends largely on where you are in life and into which tax bracket you fall. CONTINUE READING

Photo courtesy of:

Providence Financial & Insurance Services, Inc.
Providence Financial & Insurance Services, Inc. is a Registered Investment Advisory Firm
registered with the Department of Corporations in the State of California.