What is Retirement Really Like?

When people typically picture retirement we think of lots and lots of free time and being able to do exactly what you want, when you want and that includes traveling.  However, when talking to retirees there are some things that occur that affect retirement.  Here are some things to give you more of a realistic idea of what retirement is like. You won’t get as bored as you think.  Some people think that you won’t be able to find enough stuff to fill your days, Read More +

Phil Cannella – Phillip Cannella in the News: Phil Cannella Boosts his Efforts to Educate in 2014

Phil Cannella – Phillip Cannella News:  Phil Cannella has maintained a mission to educate Americans on the little known investment options available to them that are truly Crash Proof, meaning even in a financial crisis your retirement finances are safe. Coming off of record breaking bull market in 2013, Phil Cannella’s expert opinion is that markets are primed for a correction, or even a crash. Phil Cannella has assumed the personal obligation to do everything in his power to spread his knowledge of these Crash Proof Read More +

Why Phil Cannella Chooses to Educate

Phil Cannella recognizes that Wall Street has dominated to the financial services industry for decades, and therefore most consumers associate all financial services with Wall Street. Phil Cannella has built his career in the financial services industry, but he is in no way associated with Wall Street. In fact, Phil Cannella stand strong as a consumer advocate, protecting seniors from the dangers of Wall Street. Instead, Phil Cannella has focused his services on safer financial sectors that can provide consumers with guarantees, not just empty Read More +

Phil Cannella Strives to Inspire

Phil Cannella is most recognized as being one of the nation’s leading financial advisors when dealing exclusively with retirement assets. However, there is a side to Phil Cannella that simply cannot be conveyed on a resume. It is his dedication to inspiring those around him that truly makes Phil Cannella successful, not just in his career but in his life. Examples of his inspiring nature can be found by talking to just about anyone who has spent more than 5 minutes with him. “Whether it Read More +

Phil Cannella on Voice of Reason with Larry Kane

Retirement Phase Expert Phil Cannella appears on Larry Kane’s “Voice of Reason” as an expert panelist along with Temple University’s Dr. Bruce Rader and Senior Economist Ryan Sweet of Moody’s Analytics. The men discussed topics that concern retirees, like scandals on Wall Street, Risk and Retirement, and Financial Literacy.

Phil Cannella Action News ABC

Phil Cannella on ABC Action News [youtube id=”Wif4HkSeyOk” width=”685″ height=”385″] Joann Small and Phil Cannella of First Senior Financial Group and Retirement Media, Inc. respectively, made a very generous donation to the American Red Cross to aid in Hurricane Sandy Relief. The donation was made on behalf of all who attended the most recent Crash Proof Retirement educational event at Adelphia Restaurant in Deptford, NJ.

Phil Cannella on TV Fox 29

Phil Cannella on Fox29 [youtube id=”fZ1LWZeiQr0″ width=”685″ height=”385″] Phil Cannella, founder and then CEO of First Senior Senior Financial Group, gives pointers on coping with the ongoing recession in a FOX interview, dated August 15, 2010. Today Mr. Phil Cannella is founder and CEO of Retirement Media, Inc., dedicated to reporting “Truth for the American Retiree.”

Phil Cannella in The Media

Phil Cannella has gained attention over the years as a notable Retirement Expert and Senior Advocate. As with any worthy mission, Phil Cannella’s dedication to bringing truth and logic into an otherwise corrupt financial industry has not gone unnoticed. Whether it is an appearance on major networks sharing his expert insight or news coverage of the many charitable events he has conducted, Phil Cannella is no stranger to the media. Along with his frequent appearances in the media, Phil Cannella is also a beloved radio personality Read More +

Phil Cannella Continues to seek Compliance with IRA Law

Phil Cannella and First Senior Financial Group are required to maintain their insurance licenses by continuing their education through at least 24 hours of credits every two years.  These credits must be earned through a state approved facility such as a university or other professional establishment.  This is a requirement by law to maintain all licenses and keep up with new the rules and regulations of the IRS. Phil Cannella goes one step further by requiring each licensed employee complete additional IRS training every year Read More +

Phil Cannella Provides Free Review Service to all Clients

All clients of First Senior Financial Group and Phil Cannella are provided with a free review service at the headquarters office which is located in King of Prussia, PA.  The review team is comprised of salaried employees who are licensed professionals whose main purpose is to help educate and recommend crediting methods for the upcoming year.  Other services include help with implementing income needs or protecting additional funds from market risk. The review team works day in and day out with the contractual agreements that Read More +

Phil Cannella Protects Clients through Recorded Lines

Phil Cannella prides himself in being a consumer advocate and proves this by recording all of the phone calls in and out of First Senior Financial Group.  The recorded lines help protect the clients from any kind of corruption or misinformation.  The analysts and review team are all held accountable for their actions and what is said to clients; Phil Cannella holds them to this. The recorded lines are a more of a benefit for the client than for the firm.  Should a conflict of Read More +

Phil Cannella Provides a Fiduciary Responsibility

First Senior Financial Group and its founder, Phil Cannella, have a salaried Design Team that is utilized to provide a fiduciary responsibility to all of its clients.  Most financial advisors pick out investment instruments that benefit them more than it does the consumer.  Phil Cannella avoids this by employing a licensed staff who analyze and chose the investment vehicles based on a client’s needs, including but not limited to asset level, income needs, and the desire intent of the funds. The Design Team is paid Read More +

Phil Cannella Educates on a Roth IRA Conversion

Phil Cannella is all too familiar with a common saying that most people have heard before “there are two things certain in life, death and taxes.”  Although this is true and no one can live forever, there are ways to help reduce taxes to the American Retiree and Phil Cannella wants to share that secret. The IRS has something called a Roth IRA which is essentially an after-tax IRA.  A Traditional IRA is all pre-tax dollar contributions that at some point must be taxed in Read More +

Phil Cannella Shares a very little known IRS Rule

The IRS is full of all sort of different rules and regulations which Phil Cannella strives to keep up with.  One little unknown secret that Phil Cannella educates consumers on is called the exclusion ratio.  This rule will allow a person to receive a tax efficient income over a period certain time frame. This rule, however, only applies to Non-Qualified funds. The exclusion ratio utilizes your funds in a way in which the principal and interest earnings are paid out on a pro-rated basis.  Normal Read More +

Phil Cannella Starts 2014 in a Huge Way

Founder of First Senior Financial Group and the Crash Proof Retirement Show, Phil Cannella, recently hosted their first educational event for the 2014 year at the William Penn Inn.  Phil Cannella was accompanied by 200 concerned retirees that enjoyed a remarkable education and free dinner.  The event included exclusive interviews from several U.S. government and economic officials which have never been seen before. These interviews voiced the concerns of the current weak economy and the corruptions of Wall Street.  Phil Cannella thoroughly educated the attendees Read More +

Phil Cannella Emphasizes No Risk

First Senior Financial Group and its founder, Phil Cannella, pride themselves in their ability to safely invest the American Retiree’s nest egg.  Phill Cannella utilizes the Life Insurance Industry’s contractual agreements in order to capture interest in up markets but also preserve the principal should the markets correct or devalue.  It’s all very simple really. The Life Insurance Industry allows an investor to track the gains in the market with not actually being invested in the market through contractual agreements.  These contracts allow the investor Read More +

Phil Cannella Speaks about the Roth IRA

Many have heard Phil Cannella on the radio or at educational events speaking about the “Roth IRA” at some point or another, but we all often have more questions. In this Q&A interview, Phil Cannella answers the questions about the Roth IRA that a lot of us have had all along.   Question: We hear a lot about the difference between a regular IRA and a Roth in terms of wealth preservation. Could you clarify? Phil Cannella: It’s simple. If you want to preserve as Read More +

Who is Phil Cannella?

Not long ago, an interviewer asked noted senior advocate and activist Phil Cannella about the early influences that had shaped Phil Cannella’s enormously successful career and fueled his unbridled passion for senior advocacy. Below is an excerpt from this interview that takes a look into what has motivated Phil Cannella to get to where he is today. Q: Tell us about some of your formative influences. Phil Cannella: In the early 1960s, I was 7 years old and living in a row house outside Philadelphia Read More +

Phil Cannella Educates the Consumer

Phil Cannella is a strong believer in education. Even the great minds of the world have devoted much of their time to learning. Discovering new concepts and learning new skills is what empowers every individual in any walk of life. And so it is with Phil Cannella, whose passion is to educate the American retiree so that they can make informed and wise decisions about their finances. Phil Cannella, in his drive to educate, utilizes his weekly Crash Proof Retirement Show® as well as his Read More +

Phil Cannella Dazzles Crowd at Copperfield Inn

People thronged the Copperfield Inn last night to hear Phil Cannella spell out how to Crash Proof™ their nest eggs. The few doubters in the crowd quickly became believers as Phil Cannella hit them with a treasure trove of invaluable tips to prevent the deterioration of their accounts. We hear frequently from our consumers on how they lost their hard earned dollars on the stock market. It is a sad commentary of the greed that has beset Wall Street. Members of the audience were surrounding Read More +

Phil Cannella Exposes the SEC

Attend one of Phil Cannella’s educational events, you’ll hear a few things about the Securities and Exchange Commission, better known as the SEC. It is that agency of the US Government whose primary responsibility is monitoring and regulating the securities industry, Wall Street, etc. The SEC was created after the 1929 Stock Market crash that brought about the Great Depression. In fact, when you attend one of these events, you will more than likely see an exclusive interview that Phil Cannella conducted with the former Read More +

Phil Cannella On Wall Street

Phil Cannella: A great quote is attributed to Michael Jordan: “If you’re trying to achieve, there will be roadblocks. I’ve had them; everybody has had them. But obstacles don’t have to stop you. If you run into a wall, don’t turn around and give up. Figure out how to climb it, go through it, or work around it.” Phil Cannella agrees with this. You won’t achieve your goals in life unless you can get past that barrier, that wall thrown in your path. Phil Cannella Read More +

Phil Cannella Enlightens Thousands

Phil Cannella: “Education is the movement from darkness to light” is a quote attributed to 20th century philosopher, Allan Bloom. It is with these words that Phil Cannella gives such emphasis and focus on educating his consumers. “People are kept in the dark so that they can be taken advantage of” says Phil Cannella when asked why he does what he does. In Phil Cannella’s mind it is more important to educate our citizens so that they can make informed decisions for themselves than it Read More +

Phil Cannella Fights for Freedom

Phil Cannella: “Freedom is never given; it is won” is a famous quote often repeated. People often think of freedom fighters as those who pick up a sword, a gun or a weapon and go out fighting for their country. And some think of those who have risked their lives demonstrating for a worthwhile cause. Many such people truly were freedom fighters. Phil Cannella is such a modern day freedom fighter. He doesn’t use arms or force to wield power. Phil Cannella’s weapon, perhaps the Read More +

Phil Cannella the Educator

Phil Cannella: “Education is not preparation for life; education is life itself.” These are famous words of John Dewey, a noted American philosopher of the 19th and 20th century. Words like these couldn’t be more true. When we stop learning, when we stop trying to discover something new, when we stop educating ourselves, what is left to life? Moreover, by educating an individual you are giving him the power to make his own decisions. This is one of the central themes of Phil Cannella’s Crash Read More +

Phil Cannella Goes Down to Washington

Phil Cannella: I believe it was Theodore Roosevelt who said “In any moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing.” There is one unmistakable attribute of Phil Cannella; he will never do nothing. Standing by the sidelines while someone gets hurt goes against his grain. You won’t see that happening with Phil Cannella around. And so it is as well with people’s finances. Read More +

Phil Cannella Interviews Harry Dent

Phil Cannella: For any of you who do not know, Harry Dent is a renowned economist and best-selling author who uses the science of demographics to predict future market events. Host of The Crash Proof Retirement Show®, Phil Cannella followed how, with uncanny accuracy, Dent predicted the 1990-92 recession; the biggest bull market run in U.S. history and the most recent 2008 credit crisis. Phil Cannella, in his drive to educate retirees everywhere, conducted an interview with Mr. Dent on the current state of the Read More +

Phil Cannella Focuses on Education

Phil Cannella: In this day and age, it is not too difficult to find a Financial Advisor to tell you what to do with your finances. The question really is, can you find a Financial Advisor who is truly concerned and interested in helping you achieve your goals rather than his own bottom line? It is not always easy to tell the difference as both can sound most sincere. Phil Cannella has spent his last 40 years working with senior citizens from all walks of Read More +

Phil Cannella Sees Record Number of Clients

Phil Cannella’s world renowned Crash proof Retirement™ System has now seen a record number of senior citizens protect their hard earned dollars from the perils and risks of Wall Street. First Senior Financial Group holds weekly educational events that Phil Cannella promotes through his weekly radio show, The Crash Proof Retirement Show®. More than 7,000 people registered to attend one of these events in 2013 alone. Once an interested consumer has come to one of Phil Cannella’s events, if he or she expresses further interest Read More +

Phil Cannella Wows Crowd at William Penn Inn

Phil Cannella: 200 people came to the William Penn Inn in Lower Gwynedd, PA to hear Phil Cannella explain how to Crash Proof™ their retirement accounts. The few skeptics in the crowd quickly became believers as Phil Cannella hit them with nuggets of invaluable tips to prevent the erosion of their accounts. As we have heard so often from First Senior Financial Group clients, the risks and perils of Wall Street makes it the wrong place to keep your hard earned dollars if you want Read More +

Phil Cannella on Age Discrimination

Phil Cannella on AGE DISCRIMINATION Each year, more and more seniors decide to suspend retirement and reenter the workforce. Should you find yourself in this situation, it is important to know and understand that there are federal laws to protect you from age discrimination on the job. Phil Cannella explains ADEA The Age Discrimination in Employment Act of 1967 (ADEA) protects both employees and job applicants age 40 and over from discrimination based on age. Employers with 20 or more employees, including state and local Read More +

Phil Cannella on the Different Financial Phases of Life

Phil Cannella: The Accumuation Phase Vs. Retirement Phase The first half of your financial journey is the Accumulation Phase, the first half of your financial life. And the second half is the Retirement Phase, wherein the game will be won or lost for you and your family. Will your money last as long as you? Will you keep your current lifestyle in later years of retirement? Your working years are also known as the accumulation years, in which you need to grow a nest egg Read More +

Phil Cannella Explains Bankruptcy Vs Receivership

Phil Cannella: What retirees need to know about bankruptcy and receivership Financial news stations spout the words bankruptcy and receivership as if their definitions were common knowledge. There are important differences between the terms—especially where retirees are concerned. The most common option for bankruptcy is Chapter 11, or reorganization. Under this option a company continues, rearranges debts by postponing the paying of its bills or by reducing obligations, assets are sold, and proceeds go to creditors. Notice that the process does not necessarily include the Read More +

Phil Cannella on Municipal Bonds for IRAs

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 out of an account. “If you place a municipal bond in an IRA, you’ll pay taxes when you cash out of your IRA,” says Phil Cannella. “Municipal bonds work best Read More +

Phil Cannella Warns Seniors about Internet Scams

Phil Cannella has maintained a stance on fighting for the everyday consumer his entire career. By default, that makes those who have made a career from scamming seniors his foes. Wouldn’t we all love to make vast sums of money with the absolute minimal amount of effort? Of course we would. Do we want money flowing into our bank accounts without having to work for it? Absolutely. This is the mantra of every scammer who ever lifted a phone, emailed a phony plea, or offered Read More +

Phil Cannella on the Baby Boomer Crisis

Phil Cannella: “A weak recovery likely, caused by Boomer retirement” It’s not just Phil Cannella saying this, we all know that Baby Boomers are retiring in droves—specifically, the leading edge of an estimated 78 million Boomers turned 65 late 2012. Couple that with a sputtering economic recovery and the news isn’t good for future generations. According to the San Francisco Federal Reserve Bank, an already lethargic economy may be further slowed as the market becomes glutted with stocks that Boomers are dumping in order to Read More +

Phil Cannella Warns about a Coming Tax Hike

An exclusive interview with Phil Cannella. Phil Cannella, a recognized Senior Advocate and Retirement Expert, spoke with a Philadelphia-area reporter on numerous topics that are of vital interest to retirees. In this portion of the interview, Phil Cannella speaks on the “the looming tax wave,” and how retirees can best protect themselves from the consequences that are sure to follow. Q: Why do you say that the government eventually is going to “come after” retirement accounts? Phil Cannella: Simple—look at the situation. For all intents Read More +

Phil Cannella Shares his Philosophy on Retirement

Phil Cannella, who comes from a background of nearly four decades working with those in or near retirement, shares his unique philosophy on retirement, sculpted from countless hours of getting to know the everyday American and their dreams and views on retirement. Q: Why do you say that retirement funds aren’t just about money? Phil Cannella: It’s simple, and it’s true: The decades you have worked are moments of your time that you have sacrificed for your retirement accounts. They should be deeply personal to you and Read More +

Phil Cannella on the Relationship Between Life and Finances

Another installment of our reporter’s extended interview with noted retirement specialist Phil Cannella, founder and CEO of First Senior Financial Group and host of The Crash Proof Retirement Show™. Q: I’ve heard that you have interesting viewpoints on the relationship between finances and life itself. Phil Cannella: Well, it’s been said that all of life is a cycle. There’s the endless flow of the four seasons. Life newly emerges at springtime, representing a new beginning, like the birth of a child. In the spring of your Read More +

Phil Cannella on How to Avoid Probate Expenses

Recently, noted retirement specialist Phil Cannella, Founder of First Senior Financial Group and host of The Crash Proof Retirement Show™, spoke with a Philadelphia-area reporter on a number of topics that are vital for retirees. The current passage focuses on probate, and how to avoid becoming a victim of a complicated system. Reporter: Can you give me a succinct definition of probate? Phil Cannella: Probate is the legal process of assessing the assets one has accrued during their lifetime and distributing them amongst their charities, heirs Read More +

Phil Cannella: Top Reasons Why Americans Can’t Retire

More than 40% of Americans believe they’ll have to work into their 70s in order to have a comfortable retirement. 1 in 10 people think they’ll have to work into their 80s. Here are some of the top reasons people feel that they won’t be able to retire when they planned: 1. Feeling Financially Insecure This isn’t just a retirement problem, but one that follows people their entire lives. When we don’t feel financially secure, it makes it more difficult to put away money for Read More +

Phil Cannella The Crash Proof Retirement™ Page on CBS Philly

by Phil Cannella For all the longtime listeners of the Crash Proof Retirement Show®, I wanted to direct you to our page on CBS Philly’s Website. Myself and Joann Small have always been pleased to work and broadcast our radio show on the CBS media family and we hope you enjoy listening to us. Now CBS Philly has given us our own personality page, so we hope you’ll take time out of your schedule to take a look and find out more about The Crash Read More +

Phil Cannella: Check Out Transamerica’s 13th Annual Retirement Survey

By Phil Cannella In my efforts to bring you the best, most useful information about retirement, I came across this annual survey conducted by Transamerica Center for Retirement Studies.  This is a great survey that contains a treasure trove of information that can help anyone in or near retirement prepare for the future.  If you’re interested in reading the full survey, you can find it by clicking here.  I’m sure no matter who you are and what your retirement savings situation, you will find something Read More +

Twitter Causes Stock Market Crash

Photo Credit: Annette Shaff / Shutterstock.com by Phil Cannella If anyone out there is still not convinced that the stock market is too volatile for people in or near retirement, I give you this story: Tuesday afternoon, hackers took over the Twitter account of the Associated Press, an account that nearly one million followers count on to deliver the news in brief. The hackers then sent out a false tweet indicating that the White House had been attacked by bombers (it hadn’t) and that President Read More +

Cadillac Jack Speaks about Phil Cannella’s Donation

Phil Cannella, Joann Small, and the Crash Proof Retirement Team made a generous donation to the Children’s Hospital of Philadelphia (CHOP).  The difference this year?  They made an even larger donation than they have made in past years. The donation was made as part of the WOGL 98.1 Loves Our Kids Radiothon, which provides donations for CHOP every year, helping the kids there get the care they so desperately need.  The 2012 Radiothon brought in a total of $658,272 for a worthy cause, and the Read More +

How to Fight Your Health Insurer – Reports & Recourse

Phil Cannella: You CAN fight your health insurer! According to the Government Accountability Office, patients who receive a health insurance claim denial have a 39% to 59% chance of getting it reversed if they appeal directly to their insurer and a 23% to 54% chance if they appeal to a third party authorized to hear such appeals. If you want to maximize your chances of getting the denial revised or reversed, take the following approach:” Check for errors. According to the American Medical Association, 19% Read More +

Will My Money Last Me Through Retirement?

Is the American Dream slipping away? We all work years and years dreaming that the fruits of our labor will pay dividends in our retired years. But the truth is, according to noted retirement specialist Phil Cannella, that an increasing number of are not realizing that dream. According to AARP public policy Institute, which surveyed 5,000 Americans age 50 and over, 67% of respondents say their retirement savings have shrunk in the past three years, with 25% admitting their savings have been exhausted altogether since Read More +

How to Tell if Your Financial Advisor is Honest

Is Your Advisor Looking out for You? Nowadays, the last thing you need is an unscrupulous financial advisor. With the twists and turns of today’s economy, a retiree needs an advocate, not a con artist. Phil Cannella offers some red flags to watch out for: • Avoid stockbrokers who claim to have a “secret method” that yields good returns even in bear markets. Listen with your head, not your wallet. • Avoid advisors who use overly complex language or ask you to “just trust” them Read More +

The Difference Between Bankruptcy and Receivership

What retirees need to know about bankruptcy and receivership Financial news stations spout the words bankruptcy and receivership as if their definitions were common knowledge. There are important differences between the terms—especially where retirees are concerned. Bankruptcy vs. Receivership The most common option for bankruptcy is Chapter 11, or reorganization. Under this option a company continues, rearranges debts by postponing the paying of its bills or by reducing obligations, assets are sold, and proceeds go to creditors. Notice that the process does not necessarily include Read More +

Investment Bank CEO salaries: Are they getting YOUR money’s worth?

Do Investment Bank CEOs Deserve Their Huge Payouts? We’ve all heard that the banking industry is “too big to fail.” But should the same apply to bank exec’s salaries? Over the past decade, CEOs of “too big to fail” banks have collected $1.15 trillion in cash and stock—or an average of $19 million a year, according to regulatory findings. This sum easily eclipses the total return banking-industry investors would have received on the market. An investor who put $100 into a market-weighted basket of shares would Read More +

The SEC and the Gary Aguirre Case

Does the SEC fire its investigators when they get too close to the truth?  Gary Aguirre was one of the SEC’s best investigators, but when he tried to subpoena one of Wall Street’s major players in a fraud investigation, he found out the hard way that it’s not a good idea to rattle too many cages in Washington.   Gary Aguirre was the SEC’s Rising Star Throughout his career, Gary Aguirre became know as a competent attorney who tackled big cases and won. He won Read More +

Living Wills & Banks Too Big to Fail

The FDIC has announced new rules for major (or “systemically important” as the FDIC calls them) U.S. banks and financial institutions beginning in 2012. These institutions are now required to submit detailed plans on how their assets should be handled in the event of another financial meltdown like the one that occurred in 2008.  The rules would also extend to foreign banks with a significant presence in the U.S.  The new rules are intended to allow the FDIC to quickly sell off assets when a Read More +

The Millionaire Tax: Could it Work on a Federal Level?

A proposed federal “Millionaire Tax” has  many of America’s wealthy elite bristling.  Often called the “Buffet Rule” (after multi-millionaire Warren Buffet, who is credited with conceiving the idea), the proposed tax would adjust the Alternative Minimum Tax (AMT).  The AMT is usually adjusted every year to keep up with inflation, but many feel it has not been adjusted enough to reflect current economic conditions, or that a more permanent solution is needed.  When the present iteration of the AMT was introduced in 1982, it placed Read More +

The Financial Transaction Tax

In the face of a faltering European economy, France’s President Nicolas Sarkozy has proposed a new tax to yield some additional revenue, an unprecedented move for the conservative French leader.  The “Financial Transaction Tax” would affect financial institutions’ transactions on a day-to-day basis, returning some of that money to the government.  While European economists are divided on this issue, American economists are wondering if a similar tax could help rein in some of the unbridled Wall Street trading occurring in the United States.  If support Read More +

Employment for Workers 50 and Older

When you are at or near retirement, you may want to keep busy.  However, “pounding the pavement” and undergoing the daily grind of work may not be necessary as you approach, or are in, your golden years. You spent your youth advancing your career, and now it may be prudent to consider a less stressful use of your time. If you desire to dial down your work commitments, the following is a list of jobs recommended by websites including CNN Money, Bank Rate, and Associated Read More +

Google Changes Its Privacy Policy

My Privacy? Sure, Take It. If you are a little surprised sometimes about how much Google seems to know about you—get ready. In March, the internet giant began operating under new privacy policies that dig deeper into the lives of its users. As we all know, Google is more than just a search engine. The company has many services, including GoogleMaps, YouTube, Gmail and Google Voice. Each of these services has maintained their own rules concerning online information. Now, sixty of Google’s services will be Read More +

Self Directed IRAs

Although self-directed Individual Retirement Accounts (IRAs) have been around since 1975, many investors have just found out about them.  A self-directed IRA is the same as a traditional IRA, except that it allows investors to put their money into investments other than stocks, bonds, and mutual funds.  Though there are some exceptions, investors can put almost anything in a self-directed IRA, like certain precious metals, franchises, and real estate.  The flexibility of a self-directed IRA may appeal to some investors who want to have a Read More +

Costs of Living for Retirees

Rising Medical Costs Rip Into Retirees’ Savings First, the good news: Retirees now live longer. But they also have to pay for it. Staying healthy and sharp may cost the average retiree a huge chunk, if not all, of their retirement savings. For many, health care costs represent the great unknown. Retirees often overlook the real budget buster to their portfolios—the rising costs of healthcare basics like prescription drugs, tests, and emerging medical treatments. A report recently released by the American Association of Retired Persons Read More +

Exposes of the Area Code Scam

Judging from the menu of available scam operations, one thing is certain: the legions of con- artists prowling out there will never run out of scams. it’s a shame that today’s retirees are such a tempting target for this unscrupulous bunch; in particular scammers that target and rob those retirees with large disposable incomes. The newest scam to hit is the Area Code Scam. This particular scam can arrive by mail, email, or through a phone message. The messages urge people to call to claim Read More +

Water Fitness Programs Booming for Retirees

Remember  when the movie Cocoon packed theaters in the 1980s? In the film, a group of retirees swam in a pool which mysteriously granted them youthful exuberance. Today, thousands of older adults have flocked to swimming pools seeking the same healing powers the water can bring (and this time without a science fiction plot involved or actor Wilfred Brimley). Fitness centers across the country have added “water fitness” classes geared towards retirees, offering a chance for both physical therapy and fun. “It can be therapeutic Read More +

The Consumer Financial Protection Bureau, a New Tool to Fight Fraud

In the run-up to the 2012 election, much has been made about the newly formed Consumer Financial Protection Bureau (CFPB) and its Director, former Ohio Attorney General (and five-time Jeopardy champion) Richard Cordray. The CFPB was created to add another layer of regulation to the banking industry, as well as to regulate the practices of non-bank lenders, such as payday lenders. While most people agree Cordray is more than qualified to perform the duties of his new post, his appointment as Director of the new Read More +

Avoid These Six Winter Related Killers

By Kim Friel Our country faced record-breaking heat waves during the 2011 summer months, but an article posted this month by the Huffington Post warns those over 50 that the winter months pose the most danger.  For instance, the body’s reaction to cold weather can increase the chance of blood clots, which in turn can heighten the chances for heart attacks and strokes (Numbers 1 and 3, respectively, on the list of leading causes of death in the United States).  Also, the cold weather makes Read More +

Are CEOs Making More Than They Deserve?

Phil Cannella’s consumer-advocacy initiative has targeted bank CEOs the past few years—reason being that CEOs continue to demand seven and eight-figure pay even when their companies are in the tank. The worst part is their shareholders, for the most part, are more than happy to oblige them Take, for example, Ken Lewis, who was CEO of Bank of America (BofA) when it received $45 billion from the U.S. government in the first two rounds of the TARP bailouts. Obviously, the bank was so successful that Read More +

Financial Advisor Fees

This latest article from Phil Cannella’s well-known consumer advocacy initiative addresses the various fees retirees are often paying to financial advisors. The concept is simple: if an advisor’s income varies depending on where and for how long he/she invests your money, then your interests are most likely not being served. “Too often retirees lose large portions of their life savings to pay someone to put their money in investments that truly don’t benefit the client,” says Phil Cannella. “You have to make sure the person Read More +

Long Term Care Service Costs

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 all the financial headaches are behind you, leaving you free to focus on the sweeter things in life.  Although retirees should remain hopeful that they will never become fully dependent Read More +

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 their pockets, leaving homeowners in an even worse situation than before. The Federal Bureau of Investigation (FBI) and the Better Business Bureau (BBB) warn consumers to be wary of anyone Read More +

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 accompanying bills have become longer and more complex, loaded up with service fees, regulatory fees and other esoteric charges.  But consumer advocacy watchdogs are warning you to keep an eye Read More +

Phil Cannela says 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 in need, but Phil Cannella warns that not all charitable organizations are legitimate.  The Federal Trade Commission (FTC) advises donors not to donate to an inefficient organization, or even worse, Read More +

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 overall fulfillment in their lives, “work-at-home” job opportunities in particular too often turn out to be scams. This is one key reason why Phil Cannella invited FBI Special Agent and Read More +

Phil Cannella Debt Reduction Scams

Phil Cannella senior advocate daily occurrence 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 Crash Proof Retirement and the  Philadelphia area’s leading retiree advocate, says debt-reduction companies seldom deliver on those lofty promises.”This is an industry where deception and abuse Read More +

SEC Crackdown Continues

2011 was a good year for the Securities and Exchange Commission (SEC). It brought a record number of enforcement actions against Wall Street firms and dispelled some of the doubt many have had about the organization’s fitness to regulate the financial industry.  The SEC has come under fire in recent years for several major gaffes, including its failure to detect Bernie Madoff’s Ponzi scheme, its destruction of documents, and a leasing scandal that cost taxpayers $550 million.  Since the appointment of [former] SEC Inspector General Read More +

Phil Cannella Reveals The Truth About the SEC

Phil Cannella made a huge splash in Washington after interviewing the Inspector General of the SEC. Former SEC Inspector General H. David Kotz had a reputation for demanding aggressive action from the SEC’s enforcement division against financial firms who engage in unethical or illegal activities. Kotz’s tenure at the Office of Inspector General has been marked by tough investigations into the SEC’s enforcement against unethical trading practices. One such investigation occurred when a probe into the activities of the now defunct financial giant Bear Stearns Read More +

Retirement Years at Home

The term “aging in place” has become popular for baby boomers who would rather live out their retirement years in their own home than move into a nursing home.  A 2007 study by The EAR Foundation, a nationwide, non-profit organization which provides services to persons who are deaf, have a hearing loss, or balance impairment, showed that the vast majority of retirees want to age in place. The study even showed that retirees fear moving into a nursing home more than death.  If boomers decide Read More +

Phil Cannella and H. David Kotz – SEC Interview

The SEC and Bloomberg would rather talk about football tickets than about fixing a broken system. Bloomberg writer Rob Schmidt‘s December 15 follow-up to his November 23 article about the fallout from Crash Proof Retirement’s landmark interview with SEC Inspector General H. David Kotz is revealing on two levels. [dropcap color=”black”]F[/dropcap]irst, it shows that the SEC is more interested in discrediting Mr. Kotz  than in meaningfully addressing the many key issues the hard-hitting questions of Crash Proof Retirement Show™ founder and host Phil Cannella brought to Read More +

Phil Cannella Financial – Too Much Safety

Recently, noted retirement specialist Phil Cannella, founder of First Senior Financial Group and host of The Crash Proof Retirement Show™, spoke with a Philadelphia-area reporter on numerous topics that are of vital interest to retirees. In this series we’ll be presenting excerpts from those talks. The current passage is on “too much safety.” Q: You say there’s such a thing as “too much safety.” I think you’re being facetious, but what do you mean by that? Phil Cannella: You’re right, I’m being partly facetious, because Read More +