Tag Archives: Phillip Cannella
Misconceptions to Avoid When Planning for Retirement
It may not exactly be the fault of the individual, but many Americans today struggle to save up for their retirement. Whether it’s low working wages or high prices in the economy, it’s hard for a lot of people to set aside money for the future when they’re trying to live day to day. This is why systems like Social Security, Medicaid, and Medicare are so important to Americans today. There are some misconceptions about saving for retirement that you should be aware of when Read More +
How and Where to Retire on $75 a Day
If you did not save enough for retirement, chances are you are not alone. Studies have shown that Americans are not saving enough for retirement. However, if you are living on a smaller budget, there are many places that have a lower cost of living that are perfect for retirees. It is possible to retire on less than $75 per day. Akron, Ohio. Akron is a great place to retire to if you still want to go out and do fun things. Many places in Read More +
How to Maximize Social Security Benefits
Collecting Social Security and the rules for doing so can be quite complicated, especially since they change often. Unfortunately there will be no increase in benefits in 2016, thanks government, due to not measuring inflation in 2015 to trigger a cost-of-living adjustment and Social Security is running out of funds. While the future for Social Security is questionable, there are a few tricks and strategies for maximizing your Social Security benefits. Work for a long time. Obviously this is one of the best Read More +
Phil Cannella Exposes Risks behind Risky Bonds
Phil Cannella has spent much of the past 39 years gaining experience in the Insurance industry and watching many large companies go into bankruptcy. But it wasn’t until the unregulated activity during the 2008 financial crises that Phil realized the hidden upside in declaring bankruptcy for companies and also the disaster it created for investors. Corporate bankruptcies have ruined the savings, nest-eggs and lives of millions of hard working Americans. This realization took Phil Cannella by surprise. He was appalled to see corporations on Wall Read More +
Phil Cannella Reveals Hidden Fees in Mutual Funds
Phil Cannella knows that the Statement of Additional Information is Wall Street’s dirty little secret. But he admits that Wall Street’s done a great job of keeping that secret—so great, in fact, that most financial advisors don’t even know the Statement of Additional Information exists! “We’ve all heard about the Book of Prospectus—because we all read it cover to cover!” Phil Cannella joked at a recent Crash Proof Retirement educational event. In that book, you can find out about the hidden fees your advisor never Read More +
Phil Cannella Discusses Death Benefits in Long-Term Care Insurance
Phil Cannella sheds light on another option for those in need of long-term care and that is a life insurance policy. Some life insurance policies are structured with what is known as an ADB, Accelerated Death Benefit. Phil Cannella quotes Investopedia in explaining what an ADB means. “A benefit that can be attached to a life insurance policy that enables the policy holder to receive cash advances against the death benefit in the case of being diagnosed with a terminal illness. Many individuals who choose Read More +
Phil Cannella Educates on Life Insurance & Kids
Phil Cannella recognizes that some people who have kids have taken out life insurance policies on their children. While he understands why they have done so, and does not necessarily disagree, Phil Cannella does have an interesting view on this. First of all, Phil Cannella breaks down the essential purpose of life insurance, which is to provide a sum of money to the family upon the death of the policyholder so that they can continue the lifestyle they are used to. More important is that Read More +
Phil Cannella Explains Benefits of Roth IRA
Phil Cannella has long touted the benefits of Roth IRAs vs Traditional IRAs. The concept is that while you are in your working years you are most likely in a higher tax bracket, than the bracket you’ll be in once you retire, and through your IRA contributions you have been able to grow your investments tax deferred. Tax-deferral is a wonderful thing and enables us to grow our investments for years and years without taxes being extracted annually. However, by the time you turn 70 Read More +
Phil Cannella Adds Certainty to Retirees’ Investments
Phil Cannella is at odds with the status quo among financial professionals who believe that a retiree’s assets must be kept at risk in order to provide financial security during retirement. Too many financial advisors, bent on making a fortune through ongoing fees and commissions, keep their clients heavily invested in equities and bonds, with the bond component intended to provide “fixed income.” US News & World Report recently published an article that highlights the risk retirees’ face with a bond portfolio: “Investors that require Read More +
Phil Cannella Explains Crash Proof Retirement
Phil Cannella has been a consumer advocate for over 30 years. His advocacy role began when he first entered the insurance profession offering seniors an effective solution to the devastation that can beset a family when a loved one requires long term care but does not have the protection that comes with it. When the 2001 market crash hit, Phil Cannella saw a need for a new type of investment protection, especially for people in or near retirement, who didn’t have the time to go Read More +
Phil Cannella Warns of the Fragile Economy
Phil Cannella constantly has his finger on the pulse of the economic climate. 2015 has shown us just how fragile the current investment landscape is. After the 2008-2009 market crash, the federal government began its program of quantitative easing; a program which pumped trillions of dollars into the economy in order to prop it up. Instead of letting the markets sort themselves out, the Fed insisted on trying something never before attempted in history and bought up trillions of dollars of faulty mortgage backed securities. Read More +
Phil Cannella Talks Tax Benefits of Roth IRA
Phil Cannella is a consummate professional when it comes to being a consumer advocate and retirement expert. Too many advisers who practice in the field have no more than a shallow understanding of the products they sell and certainly have little background in both traditional and Roth IRAs. In fact, most financial advisers don’t want to know much about Roth IRAs because it hurts their own bottom line. Most financial advisers get paid based on the value of their accounts. Thus if you convert your Read More +
Phil Cannella Expounds the Value of Roth IRAs
Phil Cannella is a major proponent of Roth IRAs and for good reason. In a traditional IRA you have a partner, (whether you realize it or not) and that partner is the Internal Revenue Service. The IRS owns a share of your IRA retirement account and although currently the IRS may only own the rights to a small portion of your IRA, if and when taxes go up the IRS will get to keep a larger portion or your IRA savings. One of the other Read More +
Phil Cannella Explains History of Stock Market Crashes
Phil Cannella has done an exhaustive study of the financial history of the United States, and has reviewed the causes behind the various stock market crashes that have plagued Wall Street for the last 100 years. He has examined the market peaks and the crashes and has looked for common denominators that help explain the market’s volatility and unpredictability. Through his research Phil Cannella has unearthed some interesting facts about the well-known stock market crash of 1929 that brought about The Great Depression. Phil Cannella Read More +
Peace of Mind for Seniors from Phil Cannella
Phil Cannella makes a very good point on his radio show, The Crash Proof Retirement Show, that as an individual or couple enter into retirement (the phase of their life when they are no longer in the work force and no longer in a position to earn a living), that peace of mind is of utmost importance. The way the stock market plays into this is that it provides absolutely no peace of mind for an investor. One day the markets are up and the Read More +
Recent Biotech Bust Catches Eye of Phil Cannella
Phil Cannella has been preaching for some years that stock market risk is a risk that retirees should remove from their portfolios. While younger investors still have time ahead of themselves, older investors who are preparing to or have already left the workforce do not have the time to wait to recover from another market crash. Phil Cannella urges seniors, retirees, and even those approaching retirement to take a good look at his proprietary Crash Proof Retirement System and, through it, find alternative investment vehicles Read More +
Phil Cannella’s Outstanding Philanthropy
Phil Cannella has dedicated his life to helping others. Witness the way he has tirelessly worked as an insurance professional helping seniors across the country protect themselves from the risks of long-term care events impacting their life or market risk destroying their nest eggs. What speaks even more loudly to Phil Cannella’s character is his philanthropy. While there are many non-profits Phil Cannella could have chosen to lend his help and financial support to, he chose the Children’s Hospital of Philadelphia. Every year for the Read More +
Phil Cannella Warns of a New Retirement Picture Facing Seniors
Phil Cannella works with people in and approaching retirement day in and day out. He explains that retirement is no longer what it used to be and this has resulted in much more planning that must be done to protect a retiree who has 20 – 30 years of retirement ahead of them. As Phil Cannella explains, many, many years ago, most retirees had a good pension and a nice social security check to lean on when they retired. Yet the retirement landscape has changed Read More +
Phil Cannella Dispels the Myth of ‘Safety’ in Bonds
Phil Cannella knows that one of the ugliest words in the English language is ‘bankruptcy.’ Bankruptcy has ruined the savings, the nest eggs, and the lives of millions of Americans. That’s why Phil Cannella finds it so appalling that declaring bankruptcy has become an accepted practice—almost a strategy—among major U.S. corporations. “You realize,” Phil Cannella tells the gatherings he speaks to each week around the tri-state area, “that when a corporation goes into bankruptcy… that’s their payday, because they get to keep your money.” And Read More +
Phil Cannella Demands Fiduciary Responsibility – Phil Cannella Media
Phil Cannella speaks of fiduciary responsibility Phil Cannella – Phillip Cannella Media: Phil Cannella often speaks of a fiduciary responsibility. According to the dictionary, the word means “involving trust, especially with regard to the relationship between a trustee and a beneficiary.” Phil Cannella demands his peers In Phil Cannella’s mind, there are far too many individuals in the financial services industry who don’t work in the client’s best interest and they won’t hold themselves accountable for their advice and recommendations. This is one key element that Read More +
Phil Cannella’s Strives to be a Consumer Advocate – Phil Cannella Blog
Phil Cannella the believer Phil Cannella – Phillip Cannella Blog: Phil Cannella believes in consumer advocacy. He does this in many different ways as he is not here just to invest someone’s assets for them, Phil Cannella wants to protect the assets of seniors and retirees against market losses at all costs. Phil Cannella markets to seniors This is one of the reasons Phil Cannella markets so diligently to seniors as he wants to be and is their advocate. One aspect of his process is that Read More +
Phil Cannella Gets an Honorable Discharge from the Marine Corp – Phil Cannella Media
Phil Cannella – Phillip Cannella Media: Phil Cannella’s life prior to becoming a financial professional is a very colorful and interesting one. Certainly nothing in his childhood could even remotely be classified as dull or mundane. Growing up as one of 5 kids, and being the oldest son, Phil Cannella started early in his life in the role of a protector of those younger or weaker. Furthermore, Phil Cannella always pushed himself and strived to be the best he could possibly be at whatever he does. Read More +
Phil Cannella Questions the Safety of Bonds – Phil Cannella Blog
Phil Cannella – Phillip Cannella Blog: Phil Cannella challenges the idea that bonds are a completely safe investment. Another one of Phil Cannella’s famous philosophies is this concerning bonds: “Remember Enron? I know a lot of folks who prefer not to. This once-thriving blue chip turned scandal carried a substantial number of bonds. When Enron’s dodgy accounting practices were uncovered, and the company eventually filed for bankruptcy, those bonds became essentially worthless. This caused employees and investors to lose millions of dollars and, tragically for many, Read More +
Phil Cannella Launches the Crash Proof Retirement Show® – Phil Cannella News
Phil Cannella – Phillip Cannella News: Phil Cannella is on the air every weekend broadcasting his Crash Proof Retirement Show® across the CBS network. If you tune in on a Saturday morning you can here Phil Cannella discuss his crash proof principals. The Crash Proof Retirement Show® was not just a fancy gimmick or a means to get some marketing done. It was Phil Cannella’s way of bringing some truth to the American retiree that was otherwise getting no mention on main stream media. Once Phil Read More +
Phil Cannella Explains Fiduciary Responsibility – Phil Cannella News
Phil Cannella speaks about this often Phil Cannella – Phillip Cannella News: Phil Cannella often speaks of a fiduciary responsibility. What exactly is that you may ask. According to the dictionary, the word means “involving trust, especially with regard to the relationship between a trustee and a beneficiary.” Phil Cannella demands accountability Why is it that Phil Cannella speaks about this so often. Very simply put, because a lot of professionals in the financial services industry don’t uphold any such responsibility toward their clients. Phil Cannella Read More +
Phillip Cannella Media: Phil Cannella Discusses Reverse Mortgages
Phil Cannella – Phillip Cannella Media: Phil Cannella, as a renowned Retirement Expert, has some advice to share on reverse mortgages as a tool that may be appropriate for some seniors. Phil Cannella explains that a reverse mortgage is one of the best concepts to come along in years for the benefit of retired Americans. It’s a federally regulated financial resource that provides a lump sum of income with no restriction on its use. In fact, it’s a loan from yourself to yourself that’s tax-free and Read More +
Phillip Cannella News: Phil Cannella Explains How Crash Proof Retirement Applies to You
Phil Cannella – Phillip Cannella News: Phil Cannella crash proof retirement system is much more than just a cliché, it is a means to protect the nest egg of a consumer so that it is secure from market crashes. In this day and age, when retirees are living longer than ever, it is important than a retiree has the necessary wherewithal to live out their retirement dreams. This is one of the reasons Phil Cannella designed the Crash Proof Retirement system. He was dissatisfied seeing retirees lose Read More +
Phillip Cannella Blog: Phil Cannella Says that a Reverse Mortgage Could be a Win-Win for All Involved
Phil Cannella – Phillip Cannella Blog: Phil Cannella, as it is well-known, is a true retirement expert when it comes to working with a senior’s finances. Phil Cannella is the consummate financial professional and has studied much in order to properly advise and counsel seniors on what to do to protect their hard earned nest eggs as they go into retirement. One of the topics Phil Cannella is very familiar with is a reverse mortgage. This is really just another tool in the mix of tools Read More +
Phillip Cannella Media: Phil Cannella Explains Equity Indexed Annuities
Phil Cannella – Phillip Cannella Media: Phil Cannella carefully separates the different types of annuities available on the market so that the consumer can review and look at each one by its own merits. In fact, what Phil Cannella will do when a consumer comes through his educational process is educate him or her on the different types of financial vehicles out there so that they can make an informed decision with regard to their finances. An often misunderstood product, as Phil Cannella explains, is the Equity Read More +
Phillip Cannella Media: Phil Cannella Warns Not To Confuse the Bad Annuities with the Good Ones
Phil Cannella – Phillip Cannella Media: Phil Cannella, like any good researcher, can rapidly separate the good from the bad, the wheat from the chaff so to speak. Phil Cannella has done exactly that when examining the different types of annuities out there. As Phil Cannella points out, there are some annuities that are truly bad for the consumer and should never ever be sold. On the other hand, we cannot let the bad rap these annuities have get in the way of our clear thinking Read More +
