Phil Cannella
This website was created by Philadelphia-area retirees who are enjoying worry-free, financially secure retirements thanks to
Phil Cannella, Joann Small and First Senior Financial Group.
We are living the benefits of a Crash Proof Retirement lifestyle and want to share that satisfaction with others who are concerned about outliving their nest eggs.
One important note: Although our own Crash Proof portfolios include products from the insurance industry, you should not interpret this site as an endorsement of all insurance products! As
Phil Cannella himself says, some insurance-based products (e.g. variable annuities) can be very dangerous for retirees and their nest eggs. The worst disservice we could do is to leave you with the impression that the Crash Proof process is about a single product or even a series of products. That would make you vulnerable to any number of self-serving product pushers. The Crash Proof system is about a recipe of products.
However, we do feel confident in knowing that the insurance companies that issue our financial vehicles are heavily regulated, policed with strict licensing standards, and ineligible to declare bankruptcy—and you can’t say that about stocks, bonds and mutual funds!
Below are some Q&A’s related to Phil Cannella insights that site visitors may find helpful. But since this list of FAQs is hardly comprehensive, by all means visit the contact page and submit any questions you would like to see answered here.
Frequently Asked Question from
Phil Cannella
Phil Cannella is the founder and CEO of First Senior Financial Group as well as the creator and host of The Crash Proof Retirement radio show. Cannella has had a lengthy career in helping retirees achieve financial independence and peace of mind. He is featured in many magazines and numerous TV interviews. Most importantly, he’s a nice guy who, in our experience, always has time for a client with a question or concern.
Those of us who founded this site also did some of the testimonials you hear on the radio show and at Phil Cannella’s events. Those testimonials were entirely voluntary and weren’t scripted. Where we used to worry constantly about money to the point where many of us never slept, we now sleep like babies. The stock market can drop 500 points in a day and we never worry about our own accounts, though we do feel bad for people who are still on the market and getting hurt. Which brings us back to why we started the site, to help get the word out.
Absolutely not. It sounds corny, but this site is a “labor of love” for us. We’re simply trying to expose more people to this very important (potentially life-changing) message for retirees.
As Phil Cannella tells it, he’s been perfecting his Crash Proof system for many years as an independent financial advisor. He formed First Senior Financial Group in November 2005. He launched the Crash Proof Retirement radio show in November 2008.
NO! Certainly they’re designed to get people’s attention. In fact at a recent event one or two of us attended after becoming clients, Phil Cannella made a joke of the fact that he “has to buy all of you lunch in order to get you to educate yourselves about something you need to know!” But there’s no pressure at any time. You can listen, eat and walk away from an educational event without ever handing in any personal or financial information, and nothing will be said about it. You won’t get a follow-up call unless you ask to be called.
Nothing. Whether you just come to an event or even if you decide to go ahead and make a personal appointment directly with an advisor, you get a no-cost/no-strings education that informs you about the dangers facing retirees and tells you about some of the solutions that are out there.
It is 100% true. You won’t pay a dime for a Crash Proof education, not at any stage of the process. Again, you can walk away without any further expectations on the company’s part.
If you go ahead and implement the Crash Proof recipe his design team provides, they get paid a one-time fee from the companies who offer the Crash Proof financial vehicles. At the events, Phil says the fee averages 5-7%. The companies consider it a marketing fee.
Nothing comes out of your principal. Not at any time. This is actually one of Phil Cannella’s favorite lines: “100% of your principal works for you 100% of the time.”
That’s what everybody says at first. Even most of us said it: “It sounds too good to be true.” That’s another reason we got together and started this site. We want to reassure people that there’s nothing “funny” going on. First Senior Financial Group never even touches your money. Your funds go straight from wherever they are now to the companies where they’re going to be Crash Proofed, simple as that.
No, and in fact Phil Cannella has often said that he will fire advisors who try to apply pressure or get too much like “salespeople.” This by the way has created some very unhappy former advisors out there. But Phil Cannella likes to call his advisors “recovering securities addicts.” They’re all experienced people who have worked for major brokerages like Merrill Lynch, Oppenheimer, Prudential Securities and Shearson/Lehman/American Express, to name a few. The point is, they know their turf and they understand the pitfalls of securities as well as the benefits of the Crash Proof system.
Even though we’re clients ourselves, we wouldn’t expect anyone to simply believe what we say here on faith, just as we hope people wouldn’t be fooled by some of the bad reviews put up by Phil’s competitors and former advisors. The best way to check out financial advisors is by going to the Better Business Bureau (BBB), the Financial Industry Regulatory Authority (FINRA) or the Attorney General’s offices in your state. Phil’s record at all three is impeccable.
Yes, and there are more coming out all the time. Phil Cannella might not be crazy about our saying this because he worries that complicated information needs to be put into context for people to fully understand it, but maybe the best way to get some familiarity with the financial vehicles themselves is to Google “David Babbel” and his “Wharton School” (University of PA) study dated “March 4, 2010.” It’s a real eye-opener! But it still gives you only half the picture. The more important half is the way Phil’s team weaves all the components together into a customized Crash Proof formula for each client.
Not necessarily. Phil Cannella and his people work with the client at the client’s pace. Those who attend events probably have a “head start” in terms of understanding the basics of what Phil does. But the appointment process and format can be adjusted to fit the needs of those who want to come in directly. Phil calls that his “urgent care” approach.
No!!! All securities carry some risk. But unlike securities, Crash Proof vehicles DO NOT lose value in a declining market. The worst return you’ll ever get is zero in any given year, even if the market is down 30 or 40%, like it was in 2008 when Phil Cannella started the Crash Proof Radio Show.