Coming from a humble beginning, Phil Cannella spent years going door to door pioneering nursing home insurance-now known as long term care insurance. Phil chose this profession after the untimely passing of his grandfather due to a stroke. During this time Phil Cannella was shocked to see the ensuing medical care and associated costs dwindle the family’s savings down to just about nothing. Phil himself was forced to drop out of college to help pay the mounting medical bills. Inspired by the tragedy of his grandfather’s passing, Phil journeyed to the PA capital of Harrisburg to research retirement law, and learn how to prevent other retirees from suffering the same fate as his beloved grandfather.
“As my grandfather faded away, he thought that he had left us impoverished, and that stayed with me,” Phil recalls. “I couldn’t understand how someone could work a lifetime and, because of an illness beyond their control, lose it all.”
Thus was the beginning of Phil’s consumer driven mission to protect the hard work of older Americans and protect them from the same fate that befell his grandfather. The memory of his grandfather continues to motivate Phil to this day, long after starting First Senior Financial Group-which is the home of the exclusive CrashProof Retirement System. Over his career Phil witnessed the tendency for the financial industry and society at large to take advantage of trusting, unsuspecting retirees; often costing them their hard-earned nest eggs. Sometimes it was in the form of retirement scams, but more often these seniors fell victim to poor financial advice or unscrupulous tactics of financial advisors. The stock market crash of 2001-2002 inspired Phil Cannella to investigate safe alternatives to the corruption and conflicts of interest that permeate Wall Street. From 2003 to 2006 he worked on developing what would ultimately become the Crash Proof Retirement System, a proven way to grow your money while protecting 100% of your principal from market risk, upfront and ongoing fees and perhaps best of all, freeing your nest egg from exposure to the unpredictable and oftentimes unethical culture of Wall Street.
For almost 40 years Phil Cannella has worked tirelessly to safeguard and protect the nest eggs of Americans in or near retirement. Today, Phil proudly states that there are hundreds of Crash Proof vehicles that can shield your retirement nest egg from volatility, and it all started as one man’s tribute to his beloved late grandfather.