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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.

Take the FINANCIAL LITERACY QUIZ! HOW MUCH DO YOU KNOW about Finances?

1. Interest Rate:
Suppose you had $100 in a savings account and the interest rate was 2% per year. After 5 years, how much do you think you would have in the account if you left the money to grow?

  • More than $110
  • Exactly $110
  • Less than $110

 

2. Inflation:
Imagine that the interest rate on your savings account was 1% per year and inflation was 2% per year. After 1 year, how much would you be able to buy with the money in this account?

  • More than today
  • Exactly the same
  • Less than today

 

3. Risk:
Is this statement True or False? Buying a single company’s stock usually provides a safer return than a stock mutual fund.

  • True
  • False

 

4. Tax Offset:
Assume you were in the 25 percent tax bracket (you pay $0.25 in tax for each dollar earned) and you contributed $100 pretax to an employer’s 401(k) plan. Your take-home pay (what’s in your paycheck after all taxes and other payments are taken out) will then:

  • Decline by $100
  • Decline by $75
  • Decline by $50
  • Remain the same

 

5. Match:
Assume that an employer matched employee contributions dollar for dollar. If the employee contributed $100 to the 401(k) plan, his account balance in the plan including his contribution would:

  • Increase by $50
  • Increase by $100
  • Increase by $200
  • Remain the same

Answers:

  • 1. More than $110
  • 2. Less than today
  • 3. False
  • 4. Decline by $75
  • 5. Increase by $200

Phil Cannella Moderates Expert Panel Discussion

The Crash Proof Retirement Show® Exclusive Panel Discussion

The Retirement Crisis in America.

On April 4th of last week, The Crash Proof Retirement Show hosted a panel discussion that brought to light some of the most important topics anyone in or near retirement should be hearing about. We welcomed to our studio one of the nation’s most insightful political insiders and former advisor for President Clinton, Mr. Dick Morris, as well as the original manager at the Federal Reserve who executed the first round of stimulus spending, called Quantitative Easing, which took place after the crash of 2008, Professor Andrew Huszar.

Please follow Andrew Huszar on Twitter to keep up with his insider insight: @Andrewhuszar

And don’t forget to tune in to The Dick Morris Show on WPHT 1210 AM in Philadelphia (also available via live audio stream online at DickMorris.com). Tune in every weekday afternoon Monday-Friday from 3-6 ET. Call-in at 855-839-1210!


Phil Cannella Covers the News on GM: Still Cleaning Up the Mess

The Crash Proof Retirement Show® Discusses the Flaws with GM and Corporate America

GM’s CEO Mary Barra admitted that GM had been operating under a “cost culture” in the days before the 2009 bankruptcy. A cost culture is a softer way of saying they cared more about money than they did the millions of consumers that buy their product. This “cost culture” now has GM under investigation for allegedly allowing faulty ignition switches to be installed into their vehicles because it was a less costly than replacing them with safe ignitions. The faulty ignition switch can cause the car to shut off while driving, which will disable the airbag, power steering and anti-lock brakes.

Even more startling, newly disclosed emails show General Motors refused to initiate a recall in 2005 on the faulty product because the automotive giant didn’t want to spend the money to replace the part.

It is alleged that replacing the faulty ignition switch would have cost the company only 57 cents per vehicle.

A new review of federal crash data shows that 303 people died after the air bags failed to deploy on two of the models that were recalled last month.

General Motors may seek immunity from legal liability due to the 2009 bankruptcy which freed them from all product liability coming from production previous to the date of the bankruptcy.

As part of its $50 billion government bailout, GM became a new company in July 2009 when it exited bankruptcy. It left behind billions in bad debts and liabilities, including product liability claims for all crashes occurring before that date, as well as toxic waste left behind at abandoned factories.

 

WISERWomen.org Present 10 Ways to Be Financially WISER!

 

CLICK HERE to visit the Women’s Institute for a Secure Retirement and read the 10 Ways to be Financially WISER, as well many dozens of other great publications on retirement education!

 

As always, we encourage all of our listeners to continue listening each Saturday at 11am. And be sure to browse the rest of our site to continue to stay educated, or register for a no cost, no-obligation an Educational Event. Click here to see event listings.


Phil Cannella Prepares Retirees for Tax Season

Phil Cannella and Joann Small covered an extremely important and very relevant topic this weekend on The Crash Proof Retirement Show®- Taxes in Retirement!

Retirees often don’t realize how much they’re overpaying in taxes during retired years. Education on deductions and tax laws can make all the difference in your retirement.

Because the tax laws and ever-changing policies are so vast and complex, it’s simply not plausible to completely cover it all on our one-hour radio show. That’s why we invite you to visit these links below which bring you to important information on the things you MUST know before preparing your taxes in retirement.

IRS Publication for Seniors and Retirees

Tax Guide for Seniors

Tax Tips Every Boomer Should Know this Filing Season

 

WISERWomen.org Present 10 Ways to Be Financially WISER!

 

CLICK HERE to visit the Women’s Institute for a Secure Retirement and read the 10 Ways to be Financially WISER, as well many dozens of other great publications on retirement education!

 

As always, we encourage all of our listeners to continue listening each Saturday at 11am. And be sure to browse the rest of our site to continue to stay educated, or register for a no cost, no-obligation an Educational Event. Click here to see event listings.


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