Phil Cannella • Phillip Cannella
Phil Cannella – Phillip Cannella Blog: Phil Cannella often says, ”maybe there’s a reason the root word in ‘broker’ is ‘broke.’”
Phillip Cannella • Phil Cannella
As a retired person, you have two types of financial vehicles available to you. Once you understand them both, it’ll be clear which one you want. Brokerage-driven financial vehicles are products that financial advisors endorse, recommend, direct and protect to no end. Because they are securities-based, your assets remain susceptible to market downturns. Financial advisors and brokerage firms prefer these products because they collect ongoing fees and commissions from them, something Phil Cannella strongly opposes within the financial industry.
By comparison, a client-driven financial vehicle, much like the ones Phil Cannella adopted into the Crash Proof Retirement Strategy, is a money instrument that by and large favors the owner, not the advisor. These financial vehicles can help you stay a step ahead of inflation without the market risk, without market fees and without worrying about losing your principal. When you invest in client-driven products, you don’t have to pay taxes on accumulation until you withdraw, so if you leave the gains in your retirement accounts, you’re not going to get a 1099 at the end of the year requiring you to pay taxes on money that you’ve made but are not withdrawing.
Phil Cannella brings these concepts and more to all of his educational efforts for the American retiree.
Phil Cannella explains retirees' options
Follow Phil Cannella's advice and avoid securities-based vehicles. Client-driven vehicles are the logical option for retirees.