Crash Proof Retirement Media


The Crash Proof Retirement Show

Saturdays 11am - Sundays 1pm

The Crash Proof Retirement Show was created by Phil Cannella as the beginning of his life’s goal, to educate the everyday American about the struggles and obstacles that face them in retirement. Cannella and his Co-host, Joann Small, team up every weekend on Philly’s Top Talk Radio Station, 1210 WPHT, to bring truth and logic to the people and reveal the stories mainstream media won’t touch.

This Week: Happy Labor Day!

We hope that you are enjoying your Labor Day Holiday weekend.  Labor Day pays tribute to the contributions and achievements of American workers. It was created by the labor movement in the late 19th century and became a federal holiday in 1894.

We know how hard you baby boomers and retirees have worked over your lifetimes.    Labor Day is so special because it officially recognizes that you’ve worked 40 or 50 years… or perhaps longer… sacrificing the baseball games and birthday parties with your kids, and missing out on those family dinners so that you could provide for you and your loved ones.

Dr. Martin Luther King Jr. once said, “All labor that uplifts humanity has dignity and importance and should be undertaken with painstaking excellence.” So shouldn’t the money that you’ve saved over the years, be invested, and more importantly protected by a retirement expert who has your best interest at heart?

First Senior Financial Group—home of Crash Proof Retirement—works by offering a consumer-driven environment that will work for you in retirement. The financial industries are ripe with conflicts of interest. Financial advisors regularly choose the investments that make up your portfolio and those investments determine the level of commission the advisor receives. Make no mistake, commissions vary according to the product(s) sold.

How can anyone objectively pick the best investment for you when he’s also protecting his own interest by trying to earn a high commission? As Ron Miller, founder of the Loss Recovery Center, tells Phil Cannella on today’s edition of The Crash Proof Retirement Show, “Financial advisors are now product salesmen. Being at once a salesman and counselor is too much of a burden for most mortals.”

Luckily, investors entering the retirement phase have an alternative. Crash Proof Retirement offers a three-pronged approach that fulfills a fiduciary duty that Wall Street can’t—or won’t—offer.

  1. Crash Proof Retirement employs a salaried design team who will pick out the vehicles that will best serve your interests in retirement. This team is not compensated via commission; thus there is no incentive to ‘sell’ you on a particular product. These professionals do their job by protecting your assets in your retirement years.
  2. The Crash Proof Retirement process is NOT sales-driven, but is an educational experience. It’s highly encouraged that consumers bring their financial advisors or other professionals into their meetings. This ensures that everyone involved receives an identical education on the safe alternatives to Wall Street that exist. By educating rather than selling, Crash Proof Retirement’s senior advocate advisors empower each consumer to make their own informed decision on how to protect their retirement savings.
  3. Last but not least—get it in writing! This is the foundation of consumer advocacy. Crash Proof Retirement’s policy is to put statements on their own letterhead with signatures from the company’s top officers. These statements guarantee no loss of principal and protection for your investments.

In summary:

  • Pick out your own financial vehicles
  • Be educated, not sold
  • Get it in writing!

When all is said and done, these are your golden years—the years of your life that you’ve sacrificed, saved and struggled to attain. Protect YOUR interests and not those of a financial advisor.

In the meantime, we take time this weekend to celebrate those years of hard work and sacrifice. Ancient Chinese Philosopher Confucius said “Choose a job you love, and you will never have to work a day in your life.”

That is exactly what retirement phase experts Phil Cannella and Joann Small have done. It is their life’s work to make sure that all retirees can take advantage of Crash Proof Vehicles that are safe, secure and free from the risk and deception of the securities industry. As consumer advocates unlike the financial advisors on Wall Street) Phil Cannella and Joann Small have undertaken a fiduciary responsibility with all of their Crash Proof consumers to guarantee to put the consumers’ interest first.  Happy Labor Day!

Saturday, August 23: Where Does The Money Go?

The second quarter report from the Private Equity Growth Capital Council (PEGCC) shows that fundraising in private equity nearly doubled to $50 billion last quarter. This growth signals the continuing desire of sophisticated investors to exit the stock market.

Private equity funds can be invested in a variety of ways, including expansion of emerging companies, restructuring, or developing new products for existing businesses. One thing all of these investments have in common, however, is a lack of exposure to publicly-traded exchanges.

Young, start-up companies have little revenue, limited earnings and therefore have unestablished credit. It can be difficult to obtain loans under these conditions, so these organizations are left to rely upon friends, family, or outside, private investors. This is just one example of a private equity investment. Others include buyout deals, different forms of capital investments, and ‘loan-to-own’ strategies with companies in distress.

Generally speaking, this category is used to describe investments of capital into long-term strategies. These are intended as ‘buy-and-hold’ investments and by definition do not lend themselves to any degree of liquidity. This factor alone makes private equity quite risky for the individual investor. University endowment funds and insurance companies are a few examples of typical classes of investors in private equity.

Exit volumes from private equity slowed from the first quarter. A chart of the last 10 years showed that exit volumes tend to increase along with the quality of stock market performance. The four quarters with the lowest exit volumes in the last 10 years all occurred during the last financial crisis.

Regardless, the influx of funds during the second quarter suggests that many high-worth investors believe the market’s momentum has slowed, and prefer to move their funds into a more privatized sector where they feel they have greater control—and most importantly, a better chance of seeing their money grow in the future.

Sunday, August 17: The Importance of Fiduciary Duty

In the financial arena, professionals can be held to two different codes. The first of these is the fiduciary duty, which legally binds the agent to act solely in the best interest of the client.

Brokers, on the other hand, do not operate under the fiduciary standard. Instead, brokers operate under a different code known as a ‘suitability’ obligation. By definition, this standard requires that the broker must ensure only that the financial products offered are suitable for the potential buyer. This means that the broker does NOT need to place his or her own interests below those of the client; but instead must only reasonably believe that any recommendations made are suitable for clients, in terms of that individual or corporation’s needs.

The distinction may seem to be a small one, but it can make all the difference in the world. But if a broker is not required to act in the client’s best interest, how would that affect an individual? It isn’t as if the broker would intentionally sabotage an account.

The first issue is the suitability obligation opens the door to numerous conflicts of interest. For example, a broker can choose to place a client’s assets into a mutual fund that will net that broker a particularly high commission. Under a fiduciary standard, this would be expressly prohibited. But all that’s required of a broker is showing that the aforementioned fund is suitable to the particular investor. What’s more, there’s nothing to require brokers to disclose these potential conflicts of interest either.

Furthermore, brokers who work for investment banks are often little more than salesmen. Their main job is to market the products offered by the investment bank to clients. Brokers are not only able to act outside of a client’s best interest, it’s openly acknowledged that their greater loyalty is to the firm.

In light of these facts, it’s easy to see why the fiduciary is the stronger of the two standards. Do investors have a choice? Well, some investors may be lucky enough to find a broker willing to operate under a fiduciary standard. Sheyna Steiner writes that investors should ask the following four questions to anyone entrusted with their accounts:

  • Are you acting under the fiduciary standard? Can you put that in writing?
  • Which licenses do you have?
  • Are you a registered investment adviser? Can I get a copy of your SEC/State Regulators Registration Form)?
  • If you are not acting as a fiduciary, are you willing to fully disclose all conflicts of interest and the amount of compensation received from advice and products recommended?

Saturday, August 16: An Apology for Quantitative Easing

“I can only say: I’m sorry, America.”

These sound like the words of a treasonous diplomat or disgraced politician. Instead, they made up the opening line of an article written for The Wall Street Journal by Professor Andrew Huszar, a former Federal Reserve official whose work back in 2009-2010 earned him the title “Quarterback of Quantitative Easing.”

In the article, Huszar apologizes profusely for the government’s bond-buying program, blaming the initiative for failing to solve the country’s economic problem and instead creating another ‘bubble’ on Wall Street.

Today’s Crash Proof Retirement Show features a panel discussion moderated by Phil Cannella. Along with co-host Joann Small, Cannella welcomes Huszar and political insider Dick Morris to discuss whether there is a retirement crisis taking place in America.

Panel Discussion Highlights – 4/19/14 by Crash Proof Retirement on Mixcloud

Huszar worked for the Federal Reserve for seven years before leaving for a job on Wall Street in early 2008. In the spring of 2009, he was recruited back to the Fed with a promise that he would be managing the largest economic stimulus in United States history—a program, built on the purchase of $1.25 trillion in mortgage bonds, that would come to be known as quantitative easing.

“This was a dream job, but I hesitated,” Huszar wrote for the Journal. “I had left the Fed out of frustration, having witnessed the institution deferring more and more to Wall Street. Independence is at the heart of any central bank’s credibility, and I had come to believe that the Fed’s independence was eroding.”

Ultimately, Huszar took a leap of faith—one he soon would regret. “Despite the Fed’s rhetoric, my program wasn’t helping to make credit any more accessible for the average American,” he wrote.

Even more to his frustration, each day the Fed deviated farther from the course it had followed for nearly 100 years. The Fed had never purchased a single mortgage bond, but Huszar’s program bought so many that the pure volume threatened to crash worldwide confidence in the financial markets.

Wall Street, however, was well on its way to recovery. By the time Huszar’s program ended in March of 2010, the markets had regained about half of what was lost during the 2008 crash.

And that was just the first round of quantitative easing. By November, the market was dropping again, so “QE2”—the second round of quantitative easing—was approved by the Fed.

“That was when I realized the Fed had lost any remaining ability to think independently from Wall Street,” lamented Huszar. “Demoralized, I returned to the private sector.”

Today, almost four years later the Fed has announced that quantitative easing—now on its third round—will end this October. But is it truly an end, or just a suspension until the next market correction? Andrew Huszar, for one, hopes this misguided experiment is finished for good.

“The central bank continues to spin QE as a tool for helping Main Street,” he wrote. “But I’ve come to recognize the program for what it really is: the greatest backdoor Wall Street bailout of all time.”


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