Phil Cannella doesn’t look upon retirement as “the end of a cycle but rather the beginning of a brand new cycle.” While some would say that retirement signifies the approaching end of life, Phil Cannella looks at retirement as the beginning of a completely new aspect of life. In his own words:
“While my grand pop and many others like him in this great country of ours believe that retirement is the end of the road, and that the planning is over, that simply isn’t true. Retirement is the beginning of a new phase, and signals that the planning has just begun.”
Phil Cannella explains that when you reach retirement, you need to draw-up a new set of plans. Up until we plan to retire, we all work to pay bills and other expenses through earned income. When the time comes when we do decide to retire, our predictable income stops and we hope that social security, a pension and perhaps savings’ accounts will let us live out the remainder of our life, without worrying about running out of money.
Phil Cannella identifies the differences between the “retirement phase” of life and the “accumulation phase” of life. He says that during your working years you have the ability to make a living and if you lose money for various reasons including losses in the stock market, you still have time to make up what you lost. However, when you hit the retirement phase of life, you are no longer in a position to recoup those losses. At the age of 70 going back into the work force is not as easy as it sounds. When you are 70 you want to enjoy and do those things you couldn’t do while you were busy supporting a family, raising kids and working. Phil Cannella examines the accumulation phase and retirement phase as two distinct phases of one’s life and insists that they have to be treated differently and independently of one another so that people can enjoy what they planned a lifetime for: a Crash Proof Retirement.