Category Archives: Radio Show

Uniform Life Expectancy Table

This past weekend on The Crash Proof Retirement Show, hosts Phil Cannella and Joann Small discussed Required Minimum Distributions (RMDs) and how to calculate them based on life expectancy.

According to Ed Slott, the nation’s foremost financial expert on IRAs and retirement distribution planning, most IRA owners and plan participants will use the Uniform Life Expectancy Table (pictured below, “Figure 1”) to figure required distributions. The only exception is if the beneficiary is a spouse who is more than 10 years younger than the IRA owner or plan participant.

RMD Chart

Click HERE to read the entire article, titled “MRDelights: Everything you always wanted to know about retirement planning with the newly revised minimum required distribution rules”

Phil Cannella and Ed Slott

Phil Cannella is an Elite Master IRA Advisor who trained personally with Ed Slott.

Continue your education every Saturday at 11am and Sundays at 1pm on The Crash Proof Retirement Show with Phil Cannella and Joann Small – airing on Philadelphia’s #1 talk station, Talk Radio 1210, WPHT-AM.

Crash Proof Retirement Show: Avoiding Unnecessary Risk

This week on the Crash Proof Retirement Show, co-hosts Phil Cannella and Joann Small broke down the many faces of risk, and how the life insurance industry is designed to help the everyday investor.

Phil Cannella likes to refer to the insurance industry as ‘the brickhouse industry’ due to its safety in any type of economic storm. Cannella discussed the 4,000 Crash Proof consumers who successfully protected their nest egg with the exclusive Crash Proof Retirement System.

“I am here to tell you that it’s not too good to be true,” said Phil Cannella. “Our consumers can sleep at night and enjoy peace of mind that the recess of their years should bring to all of us. They are no longer worried about losing their retirement savings or even having an unsecure retirement future. The Crash Proof Retirement vehicles are not securities.”

There’s no question that today’s retirees face financial risk in many forms. For starters, there’s the risk of losing your principal in the stock market. From there, people in or near retirement must remain aware of accounts accumulating too many taxes and market fees.

It’s not too big a stretch of the imagination to understand why most retirees are not in a position to tolerate the many risks that come with investing in securities today. That’s especially true when people enter the draw-down phase, the second half of their financial lives.

As Phil Cannella often states, your financial future is like a football game: it’s important to play well in the first half (or accumulation phase)—but games are won or lost in the second half, just as your ultimate experience in retirement won’t be determined until you’ve entered that draw-down phase.

There are far too many enemies coming at you during retirement for you to leave yourself vulnerable by not seeking the right financial vehicle and the right retirement specialist.

Tune in to The Crash Proof Retirement Show every Saturday at 11 a.m. on Philadelphia’s number-one talk station, Talk Radio 1210 WPHT-AM. Listen as hosts Phil Cannella and Joann Small report on the pressing issues and news that affect your retirement.

Crash Proof Retirement Show: Phil and Joann Honor Over 4,000 Clients

On last week’s edition of the Crash Proof Retirement Show, Phil Cannella and Joann Small briefly discussed 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 does election season mean to listeners in or near retirement? Phil and Joann go to great lengths to educate people around the Philadelphia area on the obstacles to a secure retirement. But the one thing people in the retirement phase need to know are the safe alternatives available to risky investing via Wall Street.

Many Crash Proof consumers today have or held many of the same fears or concerns regarding their nest egg and protecting it well into the golden years. That’s why Phil Cannella and Joann Small dedicated this week’s show to the 4,000+ Crash Proof consumers who now enjoy protection, guarantees and peace of mind in retirement.

Here are just a few comments from those consumers:

“One of my retirement concerns is that the money we’ve worked all these years for—such as a 401(k)— we want to get that into a Crash Proof program and at least keep and sustain what we have and try to accumulate a little more so that we can at least maintain our lifestyle.”

“My retirement concerns are stabilized principal and a steady income stream without the volatility of the stock market especially in today’s economy. The way the stock market is vacillating, my concern is that I do not lose any of my money.”

“Every day the markets are down. I look at what’s happening in Greece and Germany and it concerns me that it will impact our overall market. My concerns are holding on to what I earned and having it grow. I don’t feel confident in mutual funds and corporate bonds.”

“The world is that if a firecracker goes off in New York, the stock market drops 1,000 points. It’s not stable. My retirement concerns are will I have enough money to last a lifetime? The stock market is like a roulette wheel where nobody tells me the rules and my broker just tells me what I have left. I’m concerned if our money will last and will we be able to still live our lifestyle?”

Tune in to The Crash Proof Retirement Show every Saturday at 11 a.m. on Philadelphia’s number-one talk station, Talk Radio 1210 WPHT-AM. Listen as hosts Phil Cannella and Joann Small report on the pressing issues and news that affect your retirement.

Crash Proof Retirement Show: Avoid Securities In Your Retired Years!

Last week on The Crash Proof Retirement Show, Phil Cannella and co-host Joann Small discussed the dangers of securities for people in retirement, while highlighting 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 means the client’s best interest is the first priority—in fact, the only priority.

By contrast, Wall Street advisers are trying to make as much money as they can, whether your account makes money or loses money.

“And they’re getting away with it, through heavy commissions and ongoing fees,” Phil Cannella pointed out to listeners.

Crash Proof Vehicles are not securities. They are not subject to market risk, uncertainty, corruption or the lack of fiduciary responsibility that exists on Wall Street. “We are not licensed to sell securities,” Phil Cannella clarified. “Nor would we ever recommend them to investors in or near retirement.”

Just think how many nights you’ve laid awake in bed, thinking about the stock market and worrying that you could lose 30% or 40% in another market crash—as many investors did in 2008? Millions of Americans are in danger of not having enough money to maintain their current standard of living in retirement.

Phil Cannella created the exclusive Crash Proof Retirement System, He likes to refer to these safe alternatives as “sleep well accounts”, meaning that the client can rest easy, knowing that their retirement nest eggs are safe & secure, allowing them to sleep well at night.

Last week, Phil Cannella cited a report by the Center for American Progress, which found that more than 50% of households will not have enough money in retirement. Don’t run out of money in the recess years of your life—learn more about Crash Proof Retirement today, and complete your American dream.

Tune in to The Crash Proof Retirement Show every Saturday at 11 a.m. on Philadelphia’s number-one talk station, Talk Radio 1210 WPHT-AM. Listen as hosts Phil Cannella and Joann Small report on the pressing issues and news that affect your retirement.

Crash Proof Retirement Show: Phil And Joann Discuss 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 much more than a financial strategy. It’s a philosophy, an approach, an idea born from years of research and an undying commitment to consumer advocacy. Anyone can recommend an investment, but it takes something more to recommend a combination of strategies that best suits the needs of the consumer—not the advisor.

Consumer advocacy has always been the hallmark of the Crash Proof Retirement System, as Phil Cannella illustrated on last week’s show by letting listeners hear the words of Catherine, who’s been Crash Proof for four years.

“When my husband passed away,” Catherine recalled, “it was so scary. I didn’t know where to begin, who to call, where to start. I was at the mercy of my financial planner.”

Sadly, Catherine would soon find out how dangerous a position that can be. Her brokerage continued to invest her money unwisely, and she lost a considerable sum. Finally, she turned to Phil Cannella and the Crash Proof Retirement System.

“I was in the room when she told her story,” remembered Phil Cannella. “And I’ll admit it—everyone was in tears. Catherine had to stop a couple times, but she insisted that she wanted people to know her story so she could help others.”

After she went through the educational process, it was Phil Cannella’s turn to help Catherine. And as Catherine’s latest interview illustrates, the tough times are behind her.

“When I heard Phil’s voice on the radio, something told me to trust him. This is an educational process—there was no pressure put on me to sign or buy anything. To me, Crash Proof Retirement means a new beginning.”

Today, Catherine—and over 4,000 other Crash Proof consumers—no longer have to worry about market crashes, outliving their money, or geopolitical concerns. “It’s not enough to make it to retirement—that’s just half of the game,” said Phil Cannella. “As in sports, the game is determined in the second half. With the right expert, you can make it through retirement.”

Tune in to The Crash Proof Retirement Show every Saturday at 11 a.m. on Philadelphia’s number-one talk station, Talk Radio 1210 WPHT-AM. Listen as hosts Phil Cannella and Joann Small report on the pressing issues and news that affect your retirement.

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 maintained that a ‘no’ vote would spell the end of any hopes of additional aid for Greece.

Now, however, those leaders have blinked and are returning to the negotiating table this Sunday to discuss what may be a last-gasp effort to rescue Greece. The fear is that if this round of negotiations fail, Greece will default on yet another debt payment, which could hasten their exit from the Euro zone.

For the past week-and-a-half, Greek banks have been closed, with customers only able to withdraw 60 Euros ($67 per day.)

“How do you do that to people who worked a lifetime? How do you take away security from your own people?” asked Phil Cannella.

“The saddest part of all this is the retirees,” Joann Small added. “It wasn’t until Wednesday that the retirees were able to access their pension or Social Security money.”

But how will this affect people here in the United States? Many experts have argued that Greece’s economy—the 43rd largest in the world—isn’t even a blip on the radar of the world’s economy. But Greece is not the only heavily debt-leveraged country in Europe.

The Italian Question

Italy comprises almost 20% of the European economy and has the world’s 9th largest GDP. And like Greece, their debt is higher than their GDP.

So now that Greece has called the European Union bluff—and the leaders blinked—what stops Italy from defaulting on their own debt?

“Maybe it’s not so much Greece,” confirmed Phil Cannella. “But if Italy decides ‘you let Greece off the hook, we’re not paying either!’ then you could lose one of your largest economies. It’s a domino effect.”

And that could create a worldwide ‘contagion’ effect—a new approach to debt management.

“It’s like a small ripple in the ocean—and it takes time to reach our shores in the U.S.,” summarized Phil Cannella. “But people in Greece are now experiencing what it was like in this country in 1929—banks are closing, and they can’t get access to their money.”

Crash Proof Retirement Show: A Dedication To Consumer Advocacy

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, when you first started working with people in retirement—would you have envisioned being here today, almost 40 years later?” Joann Small asked Phil Cannella.

“I was only 21 years old when I started,” Cannella remembered. “Do any of us really know what we’re going to be doing in life at any time—let alone at age 21?”

But Phil Cannella is doing exactly what he set out to do at age 21—protecting and educating people in or near retirement. The goal has always been the same; the means by which it is accomplished is what has changed over the years.

“My grandfather suffered a stroke after he’d been retired for only four months,” Phil Cannella remembered. “We watched as his medical care reduced his savings down to almost nothing. My grandfather passed away thinking he’d left us all impoverished.”

Phil was inspired by the realization that a person could work all their lives, only to have a medical event beyond their control take it all away. He promised himself he’d get to the bottom of fixing this system.

“Back in the 1970s, Medicare said they’d cover nursing home stays,” said Phil. “But even today, when people file a claim for a nursing home stay, Medicare only covers 3% of them.”

The other 97% of occurrences fall to the individual themselves to cover their custodial care. Phil Cannella traveled to the state capitol of Harrisburg, and found a policy that would cover custodial care, or nursing home stays.

“By August 1976, I was going door-to-door, selling nursing home insurance,” said Phil Cannella. “Little did I realize that I was uncovering my own key to success—believing in myself and what I was doing.”

Phil Cannella spent the 27 years pioneering the long-term care industry before turning his eyes to the safe alternatives to Wall Street’s world of risk and volatility. “As we all know, the stock market crashed in 2001-2002. This inspired me to investigate the industry. That’s when I found these Crash Proof investment accounts.”

Today, Phil Cannella considers the Crash Proof Retirement System to be the crown jewel of his career. But it’s only part of the story of his dedication to consumer advocacy.

Tune in to The Crash Proof Retirement Show every Saturday at 11 a.m. on Philadelphia’s number-one talk station, Talk Radio 1210 WPHT-AM. Listen as hosts Phil Cannella and Joann Small report on the pressing issues and news that affect your retirement.  

Crash Proof Retirement Show: Phil Cannella Explains Margin Debt

This past week on The Crash Proof Retirement Show, Phil Cannella discussed the growing problem of margin debt in our country—and what makes this increase so dangerous to investors. Cannella explain the debt cycle and how it tends to predict impending market corrections or crashes.

Last week, Business Insider reported the final numbers from April—when margin debt reached $500 billion for the first time in history. Aside from being an all-time record, that figure also means that margin debt has now reached a level where it equals more than 25% of the entire value of the S&P 500!

“If you have a portfolio made up of stocks and bonds, you can get a sort of loan on that collateral called a margin loan,” explained Phil Cannella. “It’s like an equity loan on your portfolio.”

For example, the owner of a stock portfolio worth $500,000 might be able to borrow an additional $300,000 or so to fund additional stock purchases, because he doesn’t want to sacrifice or sell any of his current holdings. In turn, these purchases inflate the market, allowing additional investors to borrow money to fuel stock purchases. Like most financial markets, it’s cyclical.

So what’s the issue? When stock prices drop, suddenly the brokerage houses get shyer about lending money for additional purchases. Traders who’ve ‘maxed-out’ their credit, so to speak, are forced to sell stocks to re-pay the margin loans. And when the level of margin debt is as high as it is in 2015, it means a whole lot of selling all at once, which speeds up the market correction. Again—it’s cyclical.

“These accounts are very dangerous,” cautioned Phil Cannella. “When margin debt exceeds 2% of the GDP, a market crash tends to follow.”

Indeed, in both 2000 and 2007 margin debt exceeded this level, followed by the crash of 2002 and the Great Recession starting in 2008.  Today, margin debt stands close to 3% of total GDP—and not coincidentally, the stock market has been reaching all-time highs.

“There’s yet another indicator that a market crisis could be looming,” summarized Phil Cannella.

Tune in to The Crash Proof Retirement Show every Saturday at 11 a.m. on Philadelphia’s number-one talk station, Talk Radio 1210 WPHT-AM. Listen as hosts Phil Cannella and Joann Small report on the pressing issues and news that affect your retirement. 

Crash Proof Retirement Show: Phil Cannella and Joann Small Welcome Barbara Roper

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 nation’s leading consumer spokesperson on investor protection issues, Barbara has testified before Congress on several occasions in support of federal and state laws on investor protection.

Fiduciary Duty

One subject on which Phil Cannella and Barbara Roper found a great deal of common ground is the concept of fiduciary responsibility. Wall Street professionals are not held to such an obligation, a fact that hurts millions of investors every year because their advisors are not required to act in the best interest of their clients.

“It’s a huge problem,” said Ms. Roper, “because even people who consider themselves financially sophisticated don’t know whether their current broker or advisor is a fiduciary or not. Nobody calls themselves a broker anymore. But most people assume that they’re dealing with someone who’s required to put their best interest first.”

As founder of The Crash Proof Retirement System, Phil Cannella has met the challenge of educating investors on a variety of topics, including making them aware that many advisors do not operate under a fiduciary duty. It’s a challenge Barbara Roper knows all too well, as she recognized in the exclusive interview.

“What do you tell [a client] to do in that circumstance?” she asked. “You can certainly advise that they ask ‘Are you a fiduciary? Will you put my interests first?’ We’ve certainly recommended that, but I don’t feel a lot of confidence that people out there are doing that.”

As such, Ms. Roper’s organization is at the forefront of the push for a fiduciary requirement when it comes to retirement accounts—the same requirement advocated by President Obama when he spoke at AARP Headquarters in Washington D.C. this past winter. Such a law would protect investors from financial products that are designed to directly benefit the advisor rather than the consumer.

“The industry frequently designs products to be profitable for them,. Regardless of how well they serve the needs of investors,” she said. “They build in complexities that make it difficult—if not impossible—for the average investor to assess those products, so they will turn to financial professionals for advice. These professionals then hold themselves out as objective advisors, but give advice that put their own self-interest first.

“No matter what expert I interview, I hear the same answer,” summarized Phil Cannella. “It’s all about the advisor.”

Crash Proof Retirement Show: The Brickhouse Industry

On last week’s Crash Proof Retirement Show, Phil Cannella emphasized the importance of choosing the proper industry in which to invest for your retirement.

In retirement, you don’t want to take chances. You don’t want volatility, you want stability. You want guarantees and peace of mind. So as Phil Cannella and Joann Small pointed out, the choice is simple.

“The Crash Proof Retirement System does not utilize securities,” emphasized Phil Cannella.

The economic turbulence has gotten worse since the de-regulation of the Glass-Steagall Act in 1998. A 43% market drop in 2002 was followed by a drop of 57% in 2008-2009. So when stocks begin to retreat from their current record highs, how bad will the next downturn be? When that happens, people in retirement will be longing for stability and safety that only the Crash Proof Retirement System can offer.

“You can make your retirement future out of straw, sticks or bricks,” Cannella continued. “When you see the way the insurance industry operates, as compared to the everyday corporation on Wall Street—there is a drastic difference.”

And that’s why it’s known as the brickhouse industry, because insurance companies are not going to be washed away like a sandcastle built along the beach. For almost 300 years, insurance companies have withstood financial calamities from the American Revolution to the Great Depression and most recently, the Great Recession caused by the housing bubble.

The difference lies in a concept known as ‘receivership.’ Receivership is the alternative to bankruptcy, a condition in which life insurance institutions enter into an agreement where if one institution were unable to continue its business, the remaining organizations work together to assume the liabilities and responsibilities of the affected company.

“When you have an account—a life insurance account, a long-term care insurance account, a Crash Proof Retirement account—with one of these institutions, the guarantee is not just on the strength of that particular institution,” said Phil Cannella. “It’s on the strength of the industry of the industry in which that particular company operates. There’s no better place to start your retirement future than in the brickhouse industry!”

Elsewhere, Phil and Joann took a look at last week on Wall Street, and discussed this week’s Crash Proof Retirement educational event at The Buck Hotel, schedule for Tuesday, May 19 at 5 p.m. Register here to reserve your spot today!

Last Week on

Market Watch:




Social Security’s Future: It’s Worse Than You Think