Tag Archives: Retirement Media Inc

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 Testimonial: Vince and Joyce Natale

Crash Proof Retirement Consumers

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 Joyce and Vince Natale of Havertown, PA.

The Natales’ story is a common one in this generation of retirees. Frightened by the crash of 2008, Joyce and Vince were faced with the prospect of preparing for retirement—but were unwilling to accept the inherent risks of investing on the stock market.

“I took a 40 percent hit on our money in 2008,” said Vince Natale, “and I vowed to myself and my family I would never again risk that stability in something as volatile as the stock market.”

Looking for a safer way to protect principal, the Natales started the Crash Proof Retirement System educational process in 2010. They were eager to learn whether they could grow their money without absorbing market risk. They were pleasantly surprised by the answer they received from Joann Small, CEO of First Senior Financial Group, and her design team.

“I used to think I was at least somewhat savvy as to how to invest money,” said Vince, “but I didn’t know half of what I should have known. I was made aware through Crash Proof Retirement.”

The Natales moved multiple accounts into the Crash Proof Retirement System and have enjoyed annual gains of over 6.5 percent for the past four years. Better still, even if the markets turns or crashes again, they won’t lose a penny of that interest. Gains are not only possible, they’re protected! And that protection is of utmost importance to the Natales, who pride themselves on staying informed and are very aware of the uncertainty in today’s world economy.

“Even right now, they’re talking about Russia and China changing our monetary system, or deflating the dollar,” said Vince. “There are too many outside influences on the stock market that we have no control over as normal, everyday citizens. I want to put more control in our hands.”

Vince and Joyce were able to establish that control through the Crash Proof Retirement System. They pay no fees, they take no risk—and as a result, they feel no stress.

“To me, Crash Proof Retirement is peace of mind,” Vince summarized. “It’s something I can do for my family to guarantee some of their financial security. We sleep better at night, knowing that we’re not going to take that 40 percent hit like we did in the past. Crash Proof Retirement provides that stability and security, and we can enjoy the rest of our retirement.”

Crash Proof your retirement future by calling 1-800-722-9728, or visit www.crashproofretirement.com

To hear more stories of people enjoying the Crash Proof Retirement System, tune in to The Crash Proof Retirement Show on Talk Radio 1210 AM WPHT every Saturday from 11 a.m.—1 p.m.

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 RetirementMediaInc.com:

Market Watch:

Tuesday

Wednesday

Thursday

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

Crash Proof Retirement Show: Happy Mother’s Day!

On last week’s Crash Proof Retirement Show, Phil Cannella and Joann Small commemorated Mother’s Day by paying special tribute to the most important woman in all of our lives.

“It was a very wise man who once said, ‘God can’t be everywhere; therefore, let there be moms!’” said Phil Cannella.

With everything our mothers do for us throughout our lifetimes, we all want to see them enjoy their golden years to their fullest extent. Part of that is spending time with the grandchildren, but an equally important element is assuring their financial security in retirement. Joann Small, co-host of The Crash Proof Retirement Show, is proud to specialize in helping women in retirement to navigate the unique issues specific to females.

“Therefore, we are emphasizing the importance of women becoming educated in retirement,” Joann told the listening audience.

“Mothers spend their lives bringing us into the world, taking care of us,” added Phil Cannella, “so at the end of their lives, we want to assure that they are protected.”

In addition to their roles in raising families, 21st-century women are making just as strong an impact in the professional world. Phil and Joann pointed out that as of this year, over 100 women are serving in Congress for the first time (101, to be exact.)

But the journey to retirement remains considerably different for a woman. Between taking time away from the workforce to bear children, to raise those children—not to mention the notorious pay discrepancies women face in many professions—saving for retirement years can be a challenge for women.

Phil Cannella pointed out the dichotomy between earning power and life expectancy as yet another challenge women are facing. “On average, women are living about 10 years longer than men, so they need more money for retirement to cover added healthcare costs,” said Cannella.

Statistics from the Employee Benefit Research Institute (EBRI) show that while women and men contribute roughly the same amount per year to their IRAs, men ultimately end up with larger nest eggs.

Joann Small asked Alicia Munnell, Director for The Center for Retirement Research at Boston College, about the top issues facing women in retirement. “Our whole retirement system is income-based,” said Munnell. “Women work fewer years on average and earn less on average. If their husbands die first, those with pensions lose some or all of that money, and Social Security income goes down. Also, the expenses associated with a husband’s death can eat into household assets.”

There is hope, however, as additional studies show that most women would benefit from greater education in the area of retirement during their working years. Phil Cannella and Joann Small are uniquely qualified to provide that education as Retirement Phase Experts.

“Women have made great strides in recent years,” summarized Phil Cannella, “but there is room for so much more improvement in retirement preparation.”

Crash Proof Retirement Show: Women’s History Month

On today’s Crash Proof Retirement Show, Phil Cannella and Joann Small celebrated Women’s History Month with some specialized advice for women in or near retirement.

The Transamerica Center for Retirement Studies (TCRS) released their 15th annual Retirement Study at the end of 2014. This past week, they released the study’s findings that were specific to women. Among the more interesting tidbits:

• Only 14 percent of women say they are “very confident” in their ability to fully retire with a comfortable lifestyle.
• More than half of the women surveyed—54 percent—say they plan to retire either after age 65, or not at all. And half of those who are planning to retire say they plan to work at least part-time in retirement.
• Only 36 percent of women say they are receiving qualified advice from a professional in terms of preparing for retirement.
• Lastly, 53 percent of women feel they would benefit from easier-to-understand information.

“Today’s women are better educated and enjoy career opportunities that our grandmothers’ generation could only dream about,” said Catherine Collinson, President of TCRS.

“However, even today, a woman’s path to a financially secure retirement is filled with roadblocks and detours, such as lower pay and time out of the workforce for parenting or caregiving, which can negatively impact her own long-term retirement preparedness.”

The Crash Proof Retirement Show has secured an exclusive interview with Catherine Collinson. Tune in next Saturday at 11am to hear directly from the President of the Transamerica Center for Retirement Studies.

Also on today’s show, Phil and Joann discussed the turbulent week on the markets, plus the latest updates on what’s taking place on Capitol Hill in the wake of president Obama’s call for fiduciary duty on Wall Street!

Crash Proof Retirement Spotlight: John Kaufmann

Crash Proof Retirement Consumers

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 Mr. John Kaufmann of Lancaster, Pa.

One of the attributes that separates First Senior Financial Group from a typical firm is their unyielding commitment to consumer advocacy. This means no matter how long you’ve been a client, Crash Proof Retirement System creator Phil Cannella and his team are available to answer questions pertaining to your Crash Proof Retirement. John Kaufmann learned this not too long ago.

Mr. Kaufmann has been with Crash Proof Retirement since 2009. But it wasn’t until this past August that he mentioned he had a variable annuity—one of the worst investment vehicles in terms of charging fees and other hidden expenses. Unfortunately, John Kaufmann learned that his variable annuity was not what it appeared to be.

“I was under the impression that we were making 7 percent per year, compounded,” John explained. “Phil called the company and asked straight questions that we didn’t know how to ask. He got straight answers, too.”

But they weren’t the answers John Kaufmann wanted to hear. “We found out that we had more fees than we ever would have imagined,” he said.

John has spent his life working as a contractor, and building a reputation as a man of his word. As such, the experience with the company that issued his variable annuity hurt him not only financially, but personally.

“I’m not used to being lied to,” John lamented. “I’ve been in business all my life, and there have only been a handful of times that I’ve even had to sign a contract. Most deals are done with a handshake, and everyone was satisfied.”

One of John’s favorite things about having a Crash Proof Retirement is the way they do business. “You give someone your word. That’s the way business should be done,” John said. “And that’s the way Phil does business. He tells it like it is, and there are no ifs, ands, or buts.”

John has had a Crash Proof Retirement for six years now, but he continues to reap new benefits of the safety, security and commitment to consumer advocacy. As you might imagine, he’s out of that variable annuity now. While he admits it was a hard way to learn, he’s grateful for the lesson the experience taught him.

“Crash Proof Retirement means security of knowing your money is not going to evaporate,” he says. “With stock market ups and downs, the money that you thought you had can go away. It’s very important to me that my money is secure.”

John concluded with words of advice for consumers who are considering Crash Proofing their own retirements. “I’d recommend they pursue the Crash Proof Retirement plan,” he recommended. “We lost money prior to being in the Crash Proof Retirement [System], but we haven’t lost any since.”

Crash Proof your retirement future by calling 1-800-722-9728, or visit /

To hear more stories of people enjoying the Crash Proof Retirement System, tune in to The Crash Proof Retirement Show on Talk Radio 1210 AM WPHT every Saturday from 11 a.m.—1 p.m. and on Sundays from 1-2 p.m.

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Crash Proof Retirement Spotlight: Kathy Driscoll

Crash Proof Retirement Consumers

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 Mrs. Kathy Driscoll of Swarthmore, Pa.

Anyone who’s been paying attention to the market the past few months knows that the current buzzword is ‘volatility.’ Weeks of market gains can be undone in a matter of days by something as simple as a change in oil prices, or a single European bank missing a loan payment. Kathy Driscoll noticed this, and grew tired of it.

“I’ve read enough to know that things are very unstable right now,” she said. “So if all our monies are invested in the stock market, there’s a very high potential to lose a lot of money.”

So Kathy decided to get educated on the Crash Proof Retirement System. She was expecting a simple explanation of the program, but gained much more upon meeting with Joann Small, CEO of First Senior Financial Group. Kathy and her husband received a thorough education on her investment portfolio, and learned the differences between saving for retirement, and having a Crash Proof Retirement.

“When Joann sat with us for the first time, she was able to read the statements that we receive every month,” Kathy recalled. “I didn’t understand them, but Joann was able to explain a lot of the risk, and the fees that were included that we really didn’t understand.”

Perhaps the most important—and to Kathy, the most exciting—thing that Joann pointed out was that with Crash Proof Retirement, Kathy would have the opportunity to watch her money grow. However, unlike the Wall Street environment of risk and volatility, Crash Proof Retirement provides layers of insulation, or protection, to your investment. You are guaranteed to never lose one penny of your principal. That was music to Kathy Driscoll’s ears.

“We wouldn’t have the time to make up any losses,” Kathy said. “With Crash Proof Retirement, our money has the potential to grow, but there’s never that risk of loss.”

After meeting with Phil Cannella, Joann Small and the Crash Proof Retirement team, Kathy felt that for the first time she understood where her money was invested and what was in store for her financial future. She explained how that gave her confidence to make an informed decision.

“I don’t care what facet of life you’re talking about—when you understand something, you can make a decision and you know it’s the right decision.”

Today, Kathy and her husband have a Crash Proof Retirement. Their years of hard work—and the fruits of their labor are safe and secure from further market volatility.

“I would like to thank Phil and Joann for this, because I feel so much at ease,” Kathy summarized. “They worked directly with us at every meeting.”

Best of all, Kathy is free from the worries and the uncertainty that comes with investing on Wall Street. She doesn’t need to waste time worrying about world events that she can’t control; events that could undo her years of hard work and saving. She and her family are protected from volatility—the very definition of a Crash Proof Retirement.

“I feel like I can go home and sleep tonight, because our money is protected. My husband, our home, our family—we’re all going to benefit from this.”

Crash Proof your retirement future by calling 1-800-722-9728, or visit /

To hear more stories of people enjoying the Crash Proof Retirement System, tune in to The Crash Proof Retirement Show on Talk Radio 1210 AM WPHT every Saturday from 11 a.m.—1 p.m. and on Sundays from 1-2 p.m.

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