Long-term care costs in the United States are so high that in theory, every retiree should be a multimillionaire when entering retirement. With the costs of long-term care services skyrocketing over the years, retirees have become a source of sustainable wealth for much of the medical industry. Phil Cannella’s idea of retirement is one where [...]
Mortgage Refinancing Scams
To Crash Proof Retirement creator Phil Cannella, scams involving mortgage refinancing are some of the most heinous. With the millions of pending foreclosures stemming from the great recession, many destitute homeowners are reaching out to anyone who can help them avoid losing their homes; but for some, that “helping” hand can also reach right into [...]
The Cell Phone Cram Scam
“Remember the good old days when your phone bill was just one page long?” asks Phil Cannella. Scams can come in many forms, but the great number of charges found on the average cell phone bill have made things easier for scammers. As telecom consumers have made the move from landlines to smart phones, the [...]
IRA Expert on Municipal Bonds
Are Municipal Bonds Right for Retirees? Retirees should not hold municipal bonds in an individual retirement account, according to Phil Cannella, IRA expert. The tax-free nature of municipal bonds serves as a major incentive for investors looking to hold long-term assets. However, IRAs are classified as “tax-deferred,” meaning investors must pay taxes when taking money [...]
Watch out for Fake Charities
To Phil Cannella, scams that rip you off in the name of charity are a special class of atrocity. According to the National Center for Charitable Statistics, over 1.5 million non-profit organizations exist in the United States and individual donors gave $211.77 billion in 2010. Charitable donations are a great way to give to those [...]
Retirees Beware of Bogus Employment Offers
Many retirees seek part-time work to keep busy, earn extra income, or for a variety of personal reasons, but there’s one troubling aspect that people definitely need to keep in mind, says prominent Senior Advocate Phil Cannella: scams. Although it has been found that part-time work can help keep retirees mentally sharp and provide more [...]
Debt Reduction Scams
Complaints from consumers about debt-reduction services are a near-daily occurrence for senior advocate Phil Cannella, and it’s not hard to see why. After all, the ads are everywhere: “Be debt free in two years!” “Cut your debt by half!” Even “Get your debt down to zero!” It all sounds so easy, but Phil Cannella, originator of [...]
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