Category Archives: Phil Cannella Blog

Why Are Bank Branches Disappearing?

You may have noticed that branches of many different banks have closed recently. Actually a lot of bank branches have closed. Customers of many different banks have had to start banking solely online rather than trying to find another branch to replace one of the ones that have closed. While you may think this is probably the worst of it, chances are, it’s not. Over the course of the next ten years, close to half of all of the branches of banks in the United Read More +

Facts and Myths Regarding Social Security

Social Security can be confusing to those who want to start receiving payments or just in general.  People tend to believe what others are telling them, which often times leads them to believe things that are not true.  When talking about Social Security, what you don’t know can cost you some serious cash. Here are some common Social Security myths that we’re going to debunk for you.   You retire at 65. Years ago, retiring at age 65 was the normal age in which to Read More +

How Much $ Should You Be Saving for Retirement Each Year?

Deciding how much money you should be saving towards your retirement each year can definitely be confusing. There are a few ways to figure out how to know exactly how much to put into your retirement savings. When deciding how much you should be saving you need to think about a yearly savings rate, a savings factor, an income replacement rate, and a withdrawal rate. As a general rule, you should save at least 15% of your income, before taxes. Also, you should plan to Read More +

Dr. Ken Smith explains how Phil Cannella helped him become Crash Proof

Phil Cannella has helped over 4,000 people become CrashProof, using the exclusive CrashProof Retirement System.  Dr. Ken Smith is one of them.  Dr. Smith is a dentist and has been CrashProof for the past five years. As you can imagine, working as a dentist requires a fiduciary responsibility, meaning that Dr. Smith must legally and ethically put his patients’ needs before his own. Unfortunately, that responsibility can be taken for granted. It’s not surprising that a dentist or any doctor would put his patient’s first, Read More +

Phil Cannella Shows The Illusion of Mutual Funds

Phil Cannella has a strong reputation for fighting “the powers that be” on Wall Street, exposing their conflicts of interest and lack of willingness to act in the consumer’s best interest. His latest mission centers on the Statement of Additional Information – Wall Street’s dirty little secret! But Phil Cannella 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 Read More +

Phil Cannella Warns Investors about the “Bond Bubble”

Phil Cannella has spent almost 40 years in the insurance industry, so he knows a safe investment when he sees one. And according to Phil Cannella, the bond market is not a safe investment for retirement savings. Research from Retirement Media Inc. found that Moody’s, a leading provider of credit ratings, research, and risk analysis, has downgraded the credit rating of America’s 3rd-largest city to junk-bond levels. Moody’s rating system, which grades bonds from Aaa to C, makes a distinction between investment-grade and junk level Read More +

Phil Cannella Explains Medicare Coverage of Long Term Care Needs

Phil Cannella explains that many people seem to think that Medicare will cover long term care costs such as: stays in a nursing home or costs for a caregiver to provide in-home services. Sadly it is no so, many people have this misconception and Phil Cannella is finding himself giving more and more people the facts on the subject. Medicare only covers medically necessary care and focuses on medical acute care, such as doctor visits, drugs, and hospital stays. Medicare coverage also focuses on short-term Read More +

Phil Cannella Explains Not All Annuities are the Same

Phil Cannella explains that not all annuities are created equal and that indexed annuities have many moving parts. It is important for a consumer to understand these parts and what to expect. What upsets Phil Cannella is hearing consumers complain when their financial advisor did not adequately explain the annuity they purchased, leaving them confused and caught by surprise when they don’t make the expected gains. Phil Cannella explains that the only way to avoid this confusion is to receive a thorough education on the Read More +

Phil Cannella Guides You through the Unknowns of Retirement

Phil Cannella knows exactly how difficult it can be for a senior or anyone facing the prospect of retirement to navigate the dangerous and unknown waters of the financial world. Wall Street is like an ocean where “financial sharks” and other perils are sitting just underneath the surface ready to strike at an unsuspecting victim. Phil Cannella makes a good point when he explains that- “It is the ignorance and lack of knowledge of the financial world that many financial advisors prey upon in order Read More +

Phil Cannella Analyzes October Jobs Report

The October jobs reports brought fresh news to the Fed that the country’s economy is getting back on track. The jobless rate in 2009 hit a high of close to 10% and since then has been steadily decreasing hitting a 7-year low of 5% as of the end of October 2015. Over 271,000 jobs were added in the month of October, which was considerably higher than expectations. Along with that, average hourly earnings climbed by the most since 2009. Phil Cannella has carefully examined and Read More +

Phil Cannella Warns Consumers Beware of Inflation

All too often Phil Cannella hears from consumers who mistakenly take all their investments out of the market and put them in CDs or money market accounts. Though generally regarded as “safe,” the problem with CDs and money market accounts is that they are bleeding value due to the fact that they are not keeping up with inflation. While it is an absolute fact that one should have an emergency fund to allow for 6 or 9 months of spending, keeping large amounts of assets Read More +

People Come from Across U.S. to Meet Phil Cannella

Phil Cannella’s proprietary Crash proof Retirement System has made headlines not just in the Philadelphia region, but across the country because of the outstanding success Phil Cannella has achieved in not only protecting his client’s assets but also in growing them through both volatile and non-volatile market conditions. With many of his clients seeing double-digit returns, (and not a single one of his clients losing any of their principal to market risk,) people from across the country have been clamoring to hear and see Phil Read More +

Phil Cannella’s Mission: Crash Proof Retirees

Phil Cannella is quite passionate about the beliefs for which he stands. As a true, consumer advocate one of the things that Phil is most zealous about is protecting and preserving retirement nest-eggs from the next market crash. Phil Cannella compares this to an attack of locust. If you’ve ever seen a locust wreak its destruction on a crop then you know exactly what Phil is referring to. Just imagine a swarm of insects descending on a fresh, ripe crop and destroying every bit of Read More +

Phil Cannella Offers Stability and Security to Retirees

Phil Cannella believes that once you hit that stage in your life where you are going to depend on the assets you have accrued during your working years, you cannot afford to be subject to market risk and volatility. Once you have retired, you are no longer in the position to go back into the workforce if you don’t have enough money to live off of for the next 20 – 30 years. It is a sad commentary on the state of the investment industry Read More +

Phil Cannella Talks About Wall Street Greed

Phil Cannella has been saying for years that the titans of Wall Street don’t give a hoot whether their investors make money or lose money. At the end of the day, it is their own pocket book that matters the most to them. He makes a point that it is a sad commentary on the state of the financial services industry that so many lack any sort of fiduciary duty. Perhaps more to the point is that hedge fund managers and large Wall Street banks Read More +

Phil Cannella, The Nation’s Foremost Retirement Expert

Phil Cannella has been engaged in the business of helping retirees secure their financial futures for almost 40 years now. Whether working to protect their assets by pioneering long term care insurance in the 1970s and 1980s, or as he does today, protect a retirees’ investments through his proprietary Crash Proof Retirement System, what Phil Cannella does day in and day out is unique among financial professionals Most financial advisors only focus on one thing: their own pocketbook. By keeping their clients’ assets invested in Read More +

Phil Cannella Explains Fiduciary Duty

Phil Cannella often speaks of a fiduciary responsibility. What many people ask is, “What exactly is that?  According to the dictionary, the word means, “involving trust, especially with regard to the relationship between a trustee and a beneficiary.” The reason Phil Cannella speaks about this so often is that people in the financial industry should hold a fiduciary duty toward their clients, yet so few do. A fiduciary must act selflessly in the best interest of his clients. Yet so many financial professionals don’t do Read More +

Phil Cannella: Greece Situation Could Trigger Financial Domino Effect

Crash Proof Retirement Show: How Does Greece Affect Our Economy? On the most recent edition of The Crash Proof Retirement Show, Phil Cannella and Joann Small discussed the ongoing debt crisis in Greece, and what it could mean to world economies in the future. By now, everyone knows the people of Greece have voted ‘no’ in a referendum on whether or not to accept the bailout terms offered by the European Union and other members of the Eurozone. Previously, the leaders of other European nations Read More +

Crash Proof Retirement Show: Phil Cannella Warns “Prepare For Lower Stock Returns!”

Phil Cannella and Joann Small routinely discuss the money that upfront fees and ongoing expenses take out of your Wall Street investments. It’s a serious problem—Dalbar Corporation found the average investor in mutual funds has made only 3.7% annually over a 30-year period ending in 2013—but in that same 30-year period, the S&P 500 made over 11% annually! But soon, the idea of making 3.7% in a year through your mutual fund could be a dream come true. According to a recent article in The Read More +

Phil Cannella Creates A Crash Proof Retirement For Shirley White

The Crash Proof Retirement System, created by Phil Cannella, has helped thousands of people to secure their retirement futures. Today, we focus the Crash Proof Retirement spotlight on Shirley White, a retired nurse from Blue Bell, PA. Shirley came to Crash Proof Retirement after listening to The Crash Proof Retirement Show, heard weekly on 1210 AM WPHT each Saturday and Sunday. “I liked what they said about double-digit returns—[the possibility for] 14, 16 percent returns,” said Shirley. Shirley described herself as a natural risk-taker when Read More +

Phil Cannella and Joann Small Welcome Barbara Roper

Top Consumer Advocate Featured On Crash Proof Retirement Show This past week on The Crash Proof Retirement Show, Phil Cannella had the opportunity to interview Barbara Roper, the Director of Investor Protection for the Consumer Federation of America. Ms. Roper’s appearance on The Crash Proof Retirement Show was a natural fit, as she has spent her career thoroughly dedicated to consumer advocacy causes, including those that benefit older Americans and specifically, people in or near retirement as a member of AARP’s “Money-After-50” program. As the Read More +

Phil Cannella Provides A Crash Proof Retirement For Local Consumers

Crash Proof Retirement Consumers: Joyce and Vince Natale Phil Cannella is the founder of The Crash Proof Retirement System, which has helped thousands of people to secure their retirement futures. Vince and Joyce Natale of Havertown, Pa. learned about the System first-hand when they became Crash proof in 2010 Background The Natales’ story is a common one in this generation of retirees. Frightened by the crash of 2008, Joyce and Vince were faced with the prospect of preparing for retirement—but were unwilling to accept the inherent risks Read More +

Phil Cannella Educates Crash Proof Retirement Show Listeners

Phil Cannella and co-host Joann Small educate listeners each week on The Crash Proof Retirement Show. This week’s lesson was on the risky bond environment, something creditors for the city of Chicago know all too well. Research from Retirement Media Inc. found that Moody’s, a leading provider of credit ratings, research, and risk analysis, has downgraded the credit rating of America’s 3rd-largest city to junk-bond levels. Moody’s rating system, which grades bonds from Aaa to C, makes a distinction between investment-grade and junk level bonds Read More +

Phil Cannella Pays Tribute to Women Everywhere For Mother’s Day

Phil Cannella and Joann Small are proud of making The Crash Proof Retirement Show the top consumer advocacy program in the region for people in retirement. So it’s no surprise that Phil and Joann spent Saturday’s show paying tribute to a very special portion of the listening audience. “It was a very wise man who once said, ‘God can’t be everywhere; therefore, let there be moms!’” said Phil Cannella. With everything our mothers do for us throughout our lifetimes, we all want to see them enjoy their Read More +

Phil Cannella’s Three Questions To Ask Any Retirement Expert

On last week’s Crash Proof Retirement Show, Phil Cannella and co-host Joann Small had some very important advice for their listeners. Phil and Joann accomplish their goals of educating consumers in or near retirement not only through The Crash Proof Retirement Show, but through educational events around the Philadelphia region and by hosting consumers each and every day at their headquarters in King of Prussia, Pa. Last week, Phil Cannella highlighted the three things that any consumer in or near retirement must consider when making Read More +

Phil Cannella Creates A Crash Proof Masterpiece

What makes Phil Cannella’s Crash Proof Retirement System special? Phil Cannella says the secret lies in the carefully crafted, finely-tuned arrangement of Crash Proof vehicles. Each individual’s specific Crash Proof Retirement plan is comprised of multiple financial vehicles that, when placed together in the Crash Proof Retirement melting pot, yields a well-protected, risk-proof nest egg. “The best way I can explain it is to compare it to a symphony orchestra,” explained Cannella. “Like musical instruments, all financial instruments have principles that they will follow to Read More +

Phil Cannella Talks to Retirees on the Market – Phil Cannella Blog

Phil Cannella • Phillip Cannella Phil Cannella – Phillip Cannella Blog: Phil Cannella stands against an industry that is fighting to keep retirement assets at risk. A sizeable percentage of the investments found in the stock market belongs to Americans aged 50 and up, so you might understand why the Securities Exchange Commission is protective over its market and why its representatives—your financial advisors—want to protect it. Phillip Cannella • Phil Cannella Phil Cannella often points out at his educational events that it’s retiree’s money that’s Read More +

Phil Cannella Explains Asset Based Long Term Care – Phil Cannella Blog

Phil Cannella explains insurance coverage Phil Cannella – Phillip Cannella Blog: Phil Cannella explains that there are other ways to provide for long term care insurance coverage other than the traditional monthly or annual premiums that some are not too fond of. Phil Cannella factors in long term care as a crucial element As Phil Cannella explains it: “There’s a life insurance instrument called asset based long term care coverage (LTC) that provides the money you may need to cover medical care and assisted living Read More +

Phil Cannella Says “Plan for Longevity” – Phil Cannella Blog

Phil Cannella – Phillip Cannella Blog: Phil Cannella makes a very good point that if we only knew how long we were going to live, in other words if we knew when we would die we would certainly be able to plan out financial futures far better. Alas, that is just not possible. Phil Cannella explains that predictions can be made on a large group based on the laws of averages, but how do those averages relate to you. Phil Cannella points out that you could Read More +

Phillip Cannella Blog: Phil Cannella Believes in Wealth Preservation

Phil Cannella – Phillip Cannella Blog: Phil Cannella poses an interesting question: If you were to venture on a journey through the mountains, over rough terrain, across the dessert, what sort of vehicle would you choose? You might say a Mercedes or a BMW or a Hummer! Really, what you would want is a safe, secure vehicle that can handle the designated journey ahead. Phil Cannella makes the analogy that your progress through life and specifically retirement requires vehicles where you keep your money or grow your Read More +