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 Acknowledges 4,000+ Crash Proof Consumers

Phil Cannella and Joann Small kicked off the most recent edition of The Crash Proof Retirement Show with a brief discussion of the first major event of the 2016 Presidential election season. On the heels of last Thursday’s debate among the top contenders for the Republican nomination, Phil Cannella said he liked a lot of what he was hearing. “Don’t you think if we could take a particular ingredient from each of the candidates, you might come up with the perfect President?” he asked. What Read More +

Phil Cannella Tells Listeners: “Avoid Risk Investments In Retirement!”

On the most recent episode of the The Crash Proof Retirement Show, Phil Cannella  discussed the importance of choosing the right investments retirement. The ‘right’ investments are those that are not prone to market risk or downturns. Cannella highlighted some alternative investments in the form of Crash Proof vehicles that are not subject to market risk or fees. First Senior Financial Group is the home of the exclusive Crash Proof Retirement System, which operates under a fiduciary responsibility to every one of our clients. That Read More +

Phil Cannella And Crash Proof Retirement Provide Peace Of Mind

On last Saturday’s Crash Proof Retirement Show, Phil Cannella and Joann Small discussed the role that peace of mind plays in the exclusive Crash Proof Retirement System. For almost seven years, Phil Cannella and Joann Small have been on Talk Radio 1210 WPHT, explaining and describing the countless benefits of the exclusive Crash Proof Retirement System to loyal listeners throughout the Philadelphia area. And as Phil Cannella likes to say, the Crash Proof Retirement System is often imitated, but never duplicated. That’s because it’s so Read More +

Phil Cannella Ends Competitors’ Civil Conspiracy

Phil Cannella: Senior Advocate When it comes to standing up for the American retiree, Phil Cannella is in the trenches helping seniors and retirees as they face the daunting task of navigating their retirement during tough and tumultuous financial times. For almost forty years now Phil Cannella has been a senior advocate working with seniors and those in and approaching retirement to shield them from unexpected life tragedies that can have an ill effect on their retirement. He did this first with long term care Read More +

Consumer Advocacy: Phil Cannella’s Story of Protecting Retirees

When Phil Cannella got his start in the insurance industry almost 40 years ago, he was 21 years old and knew one thing for sure–he wanted to protect other Americans from the fate that befell his grandfather, Phil Cannella Sr. This past weekend on The Crash Proof Retirement Show, Phil Cannella and Joann Small described how building a platform of truth, logic, and consumer advocacy has helped First Senior Financial Group to protect the nest eggs of over 4,000 area consumers. “When you look back, Read More +

Phil Cannella Provides A Crash Proof Retirement For Joann Mattia

Crash Proof Retirement Consumer Joann Mattia When Phil Cannella began utilizing his trademarked Crash Proof Retirement System to help everyday investors secure their retirement futures, he did so with the intention of protecting people from market crashes like the Great Recession of 2008. Today’s Crash Proof Retirement Spotlight focuses on one such consumer–Joann Mattia of Downingtown, Pa. Joann is a marketing manager whose retirement dreams were curtailed by the market crash of 2008. A significant portion of her savings were wiped out when the major Read More +

Phil Cannella Disproves the Myth of ‘Safety’ in Bonds

Phil Cannella Exposes The Wall Street Illusion 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 Read More +

Phil Cannella Answers Your Financial Questions

Phil Cannella’s life’s work has been dedicated to bringing truth and transparency to an often-cloudy financial industry. Phil believes that Americans work their whole lives for the peace of mind and relaxation that he strives to provides through the Crash Proof Retirement System. For that reason, Phil Cannella has recently updated his “top-secret series” on mutual funds. With over 12,000 different accounts in this country alone, mutual funds represent the most accessible option available to most investors looking to grow their money. But very few Read More +

Phil Cannella Provides A Crash Proof Retirement for Doug and Eileen Flor

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 Doug and Eileen Flor of Richboro, Pa. Doug Flor is retired from Exelon Power Company, while his wife Eileen works part-time as a school teacher. Their journey to a Crash Proof Retirement begins five years ago, when Doug attended an educational event at Spring Mill Manor in Ivyland, Pa. Back in 2010, Doug was tired of market Read More +

Phil Cannella Reveals 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! Uncovering The Secret “We’ve all heard about Read More +

Phil Cannella Gets The Answers on Corporate Crime

On a recent edition of The Crash Proof Retirement Show, Phil Cannella had the opportunity to speak with Brandon Garrett, a professor of law at the University of Virginia who recently authored the book Too Big To Jail: How Prosecutors Compromise With Corporations. Professor Garrett spent years researching the lenient manners in which these cases are often settled, with many guilty companies paying small or no fines, and avoiding legal sanctions entirely—to say nothing of jail time. Phil Cannella asked Professor Garrett what motivated him Read More +

Phil Cannella Challenges Wall Street

Phil Cannella’s quest to bring transparency and fiduciary responsibility to the entire financial industry has seen some twists and turns, but he continues to see progress on his journey. The financial crisis of 2008-2009 brought to light the rampant wrongdoing that permeates Wall Street. Industry professionals seek to take advantage of unwitting and gullible consumers. Insiders are working primarily for their own financial gain over those of the people they serve. This is unfortunately the state of affairs within the financial services sector, but it Read More +