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 when looking at other annuities which might be right and proper for the consumer.
Phil Cannella explains that one of his goals is to help every retired American to recognize that there are different types of annuities, just as there are wide ranges of mutual funds, stocks, and other securities. Each one has an intended purpose and it’s up to you and your advisor to select the ones that are client-driven – and only a small percentage of them are client-driven – then use them to get you to the future and retirement you want. When people think of annuities, they typically think of these burdensome variable annuities and of the bad connotations they bring to mind. Variable annuities are just one type. There are others that are insurance-only products, not securities, and don’t carry the market risk or fear of variable annuities and securities.
Phil Cannella’s crash proof retirement system is built without the use of a single variable annuity.